Bridgewater rated highest at IPE’s inaugural asset manager awards
Bridgewater Associates received the top commendation in the first IPE Pension Fund Perception Programme (PFPP) Awards for asset managers, winning the accolade for the manager highest rated by clients.
Majedie and Franklin Templeton Investments were placed second and third in the ranking, while Acadian won two awards during the ceremony in mid-April, as the highest rated manager for Risk Management and Quality Of Reporting.
Majedie also won a further two category awards – for Investment Management and Overall Value Delivered. Baillie Gifford received the category award for Relationship Management and Client Service.
Piers Diacre, chief executive and publisher of IPE said: “This award is central to the Pension Fund Perception Programme and represents the ultimate endorsement of a manager by its clients.”
Diacre praised the PFPP as a “major new pension fund industry-led initiative” meant to improve asset manager performance and service standards by allowing pension funds access to critical asset manager intelligence and insight on manager performance.
“As a completely trusted third party with long-standing relationships with leading pension funds and asset managers, and an impeccable reputation for integrity and impartiality, IPE is uniquely placed to facilitate such a programme.
“In 1995,” Diacre added, “six asset managers had an 85% share of the UK pensions market. It is notable that none of those six companies are winners today.”
In August 2012, IPE revealed the preliminary results of the PFPP, which showed that pension funds placed the highest value on asset managers’ ability to deliver returns within stated risk parameters, on the integrity of valuations and the accuracy of reporting. Softer factors, such as client relationships and alignment of outcomes, also ranked highly in the participating funds’ assessments.
The pension funds that participated in the initial phase of the programme have more than €1trn of assets under management.