What's New in 2019?

Better Aligned with Fund Selectors’ and Family Offices’ Needs

Our panel of jurors – comprising 60-70 gatekeepers, family offices and consultants every year – were impressed by the depth of information that asset managers provided in 2018. To build upon last year’s success, we’ve refined the questionnaire and methodology for the House Awards in particular, with substantial input from the jurors about what questions to ask, scoring of responses, correlation of responses and other changes.

The main refinements for the Mutual Fund House Awards in 2019 are:

  • Fewer pillars. In previous years, there were 6 pillars but in 2019, we’ve condensed the evaluation into 5 pillars.
    • The buy-side community felt that ESG should not be a separate process but should instead be part of robust investment research and decision-making. We’ve therefore weaved questions about ESG integration into all the pillars. As such, there isn’t a standalone ESG integration pillar in 2019.
    • Previously, there were the portfolio construction and securities selection In 2019, we’ve merged these 2 pillars into one, the “Portfolio Management” pillar.
  • New pillar devoted to stewardship. With stewardship being increasingly important to investors and regulators, we feel that our assessment should address the creation of long-term, sustainable value for all stakeholders.
  • New pillar to replace what was previously the “Operations” pillar. At the request of the jurors, we’ve created a new pillar, “Corporate Strength”. The buy-side community thought that the long-term competitiveness of the asset management firm is as important as its investment capabilities. To help participants save time, we ask each company to respond just once to this pillar even if numerous strategies participate; in other words, one submission will cover all participating strategies, where the “Corporate Strength” pillar is concerned.
  • Inclusion of long-term investment performance: Our jurors think it’s important to include long-term performance in the holistic evaluation and correlate them with other findings. Accordingly, we’re requesting for net returns and drawdowns over various time periods.
  • 2 stages of scoring
    • Level I Score: All participating strategies will answer the multiple-choice questions and will be scored according to the responses provided. (Please see Level I scoring under Methodology).
    • The top 5 strategies in each peer group according to Level I scoring will proceed to Level II scoring as described below.
    • Level II Score: Only the top 5 in each peer group will receive Level II scores from the jurors (please see Level II scoring under methodology).
  • The Grand Awards have evolved in 2019:
    • In previous years, we had Provider of the Year (one each for onshore and offshore), Best Equity House, Best Fixed Income House and Best Multi-Asset House Awards.
    • In 2019, these will be replaced by the Best Practice Awards because BENCHMARK and many of the jurors feel that investors could be better served if we recognize best practices. The Best Practice Award categories are:
      • Investor Alignment
      • ESG Integration
      • Transparency
      • Corporate Quality – Onshore
      • Corporate Quality – Offshore