(February 22, 2013) — An assortment of specialist European firms and larger global companies has beaten peers to take the top honours at aiCIO’s inaugural European Innovation Awards.
Across a wide field of categories, the best were shortlisted through client nomination and selected by the aiCIO Advisory Board.
The awards are broken down into four broad categories: Core Investments, Alternative Investments, Strategy & Tactics, and Servicing.
The winners will receive their awards at a presentation evening on May 15, at London’s Simpsons-in-the-Strand, where the winners of the pension fund innovation categories will also be announced.
Some 30 pension funds have been shortlisted for seven prizes for innovation, with a further eight fund CIOs or investment heads nominated for an individual award. Nominations for these categories will be announced next week.
Core Investments
Fixed-income: M&G Investments
The fixed-income specialist has broken down boundaries of standard debt and credit investing, and pushed into alternative sources of credit and bonds for its income-hungry clients.
Equities: Schroders
This year saw strong inflows and sustained good performance in new areas from one of the UK’s largest asset managers. The company has also strengthened links with European clients.
Emerging Markets: Investec Asset Management
To win this tough category, Investec moved beyond traditional bonds, equities, and currency to create emerging market multi-asset fund for investors looking for liability-matching assets.
Alternative Investments
Alternative Investments (overall): AQR Capital Management
Already a household name in US institutional investment, the Greenwich, Connecticut firm has impressed investors with its innovative and analytical approach.
Real Estate/Infrastructure: BNP Paribas
Real assets have become the investment du jour, but the French firm’s long-time commitment to the asset class won through for investors.
SRI/ESG Mandates: F&C Investments
Despite a renewed focus on ESG from investors, many firms have cut back on staffing levels. Investors felt F&C would maintain their approach and investment philosophy.
Strategy & Tactics
Strategic Beta / Multi-Asset: BlackRock
The world’s largest asset manager flexed its muscles in this category, but strategy, tactics and understanding clients’ needs counted for as much as brute strength and AuM.
Liability-Driven Investment: Insight Investment
A unanimous decision from the advisory board for the UK-based company that arguably took the lead in this category several years ago.
Pension Risk Transfer/Swaps: Deutsche Bank
Another unanimous decision – the investment bank has stepped up to the challenge pension funds face with mounting longevity risk over the past few years where many others have shied away.
Investment Outsourcing: Cardano
The Anglo-Dutch firm is the only one in this category to provide annual results for scrutiny. It has fans on either side of the North Sea for its innovative risk-management strategies.
Investment Consultant: Hymans Robertson
Straight-forward advice on investment and actuarial matters that is tailored to clients’ needs won this fight in a tough category.
Manager Selection Agent: bFinance
The company is independent and run differently to most investment consultants. It has grown to become a trusted advisor to some of the continent’s largest institutional investors.
Servicing
Transition Management: JP Morgan
In a sector that has needed an injection of PR, JP Morgan has kept high standards and the satisfaction of some of the largest investors in the region.
Securities Lending: Northern Trust
After a wobble during the financial crisis, investors have applauded the custodian’s attempts to get back on track. Another unanimous decision from the advisory board.
Custody (Asset Servicing/Global Custody): State Street
Well-documented troubles (in this magazine) with transition management aside, State Street maintains its lead in providing ground-breaking solutions for its most sophisticated investor clients.