Large contingent of asset managers make first appearance as award winners
NEW YORK, Sept. 12, 2012 /PRNewswire/ — Bridgewater Associates, Prudential, Russell Investments, State Street and Strategic Investment Group are repeat winners of aiCIO‘s 2012 Industry Innovation Awards.
Four of the five broad award categories, Core Investments, Alternative Investments, Strategy& Tactics, and Servicing contain sub-categories. Only Strategic Investment Group repeated in the same sub-category, Investment Outsourcing. Joining the five winners are more than ten first-time winners, including Lazard Asset Management for Global Fixed Income, Blackstone for Private Equity and TIAA-CREF for Real Estate Investing.
This is the third year aiCIO will host the Industry Innovation Awards, which will be held at a dinner on December 4 in New York City. See of 2011 Industry Innovation Award Winners here.
“The five repeat winners speaks to the quality and dynamism of those firms, but the large number of new Award winners demonstrates how intensely competitive the asset management industry has become,” said editor-in-chief, Kip McDaniel.
Fixed-Income (US): Cutwater Asset Management
For the firm’s focus on liability-driven investing (LDI) and, in particular its novel work on corporate pension glide-paths, holistic approach to LDI, and Risk Analysis Manager system.
Fixed-Income (Global): Lazard Asset Management
For the exemplary work being done by firm’s emerging market debt team–recently hired from HSBC–within the hard currency, local currency, corporate, and securitized debt markets.
Equities (US): Select Equity
For being focused first and foremost on asset management, not asset gathering, and for its truly long-term investment horizon that matches the requirements of institutional investors.
Equities (Global): MFS Investment Management
For the firm’s large and growing array of global investment products and stellar record of returns, as well as for its particularly strong focus on serving the institutional marketplace.
Emerging Markets: Investec
For the firm’s breadth and success in emerging market investing, and for its continuing willingness to rapidly expand its emerging market product range across both debt and currency sectors.
Private Equity:Blackstone (Special Mention: KKR, Apollo Global Management)
For the firm’s pioneering work on strategic partnerships with America’s largest public pension plans, including its recent work with the New Jersey state pension.
Hedge Fund: (Two Winners)
Cap Intro: Citi Capital Introductions
In an age where direct alternative allocations are almost universally on the rise, for the group’s aggressive work in bringing asset owners and hedge funds together.
Management: Och-Ziff Capital Management Group For the firm’s willingness to develop customized separate accounts and altered fee structures for large institutional investors, as well as continued strong performance in its core offerings.
Real Estate: TIAA-CREF
For the firm’s long-standing commitment to global diversification, as well as more recent work in the energy infrastructure space.
Strategy & Tactics
Strategic Beta Management (includes risk-parity products): Invesco
For the firm’s work in the risk parity space and, in particular, its drive to move the strategy into the defined-contribution world.
Liability-Driven Investing: Legal & General Investment Management
For the firm’s rapid growth in and commitment to the American LDI market following the establishment of a leading UK-based LDI business, and for its thought leadership in the use of swaptions within LDI portfolios.
Pension Risk Transfer: Prudential
For the firm’s unprecedented pension risk transfer deal with General Motors.
Investment Outsourcing: Strategic Investment Group
For the second year in a row, for the firm’s commitment to responsibly growing its business while providing clients with best-in-class asset management and client relations.
Tactical Risk Management (includes tail-hedging products): (Two Winners)
Active Tactical: Mcube Investment Technologies
For the firm’s work with asset owners via its AlphaEngine software that aides funds in managing assets dynamically.
Passive Tactical: Russell Investments
For the firm’s work with clients on trading execution tied to tactical asset allocation programs, notably with the San Bernardino County Employees Retirement Association, among others.
Foreign Exchange: No Award Given
With both the custodial FX and currency-fund industries in flux, it was decided that no award will be given in 2012.
Transition Management: (Two Winners)
For its work during the past year with UK-based pensions who were questioning their transition management costs.
In a controversial industry, J.P. Morgan is widely regarded as a steadfast and honest player.
Securities Lending: eSecLending
For its pioneering work in forging a new model of securities lending and its commitment to building out its team with well-respected industry veterans.
Custody (Master Trust/Global Custody): State Street
For its willingness–through the State Street Center for Advanced Research–to share cutting-edge research with its major custodial clients.
Custody (Asset Management Servicing): BNY Mellon
For its continuing commitment to working with the world’s largest asset managers and hedge funds, especially in the middle- and back-office outsourcing space.
Investment Consultant: Albourne Partners
For being the go-to consultant as pensions increasingly turn to direct hedge fund investing, and for its commitment to community building through their Albourne Village platform.
Overall Pension/E&F-Focused Unit: Bridgewater Associates
For the firm’s long-acknowledged commitment to not just asset management, but also asset maintenance via its large investment in highly-regarded client relations teams and support infrastructure.
Methodology: The aiCIO Industry Innovation Awards are split into two general categories: asset management/servicing (the above listing) and asset owners (nominees of which will be announced next week). Nominations were open from June 1, 2012 until August 1. With input from our awards Advisory Board (Rich Goldman, formerly of Guggenheim Investments; Dan Gallagher, formerly of Los Angeles‘ City Employees Retirement System; David Nixon, formerly of the Electronic Data Systems pension; and Jay Vivian, formerly of the IBM Retirement System) as well as surveys and data where applicable, the aiCIOeditorial team makes the final decisions as to nominees and winners.
An online and print provider of news, information and proprietary survey data, aiCIO focuses on the 5,000 largest pools of capital in the world, across pension plans, sovereign wealth funds, endowments, foundations, insurance funds and other leading institutional investors. aiCIO is edited by Kip McDaniel. Please visit www.ai-cio.com/
About Asset International
Asset International is a privately-held provider of information and technology to global pension funds, asset managers, financial advisers, banking service providers, and other financial institutions in the private and public sector. Its industry-leading brands include Strategic Insight, SIMFUND, Plan For Life, PLANSPONSOR, PLANADVISER, aiCIO, Philanthropy Management, Global Custodian, and The Trade. The company has offices in New York, Hong Kong, London, Melbourne and Stamford,
SOURCE Asset International