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Wednesday, February 28, 2018|
Nuveen, Vanguard, T. Rowe, and Fidelity Dominate in the Big Apple
Last night Fidelity, Morgan Stanley Investment Management, Nuveen, Pimco, T. Rowe Price, and Vanguard all won big at an industry awards show in New York City.
Bob Jenkins, global head of research at Thomson Reuters Wealth Management and Lipper, emceed the 2018 Lipper Fund Awards USA dinner at the Mandarin Oriental in midtown Manhattan, and 104 mutual fund shops' funds were recognized. The six shops mentioned above won 12 or more awards each, and many other fund firms won multiple awards, too.
InvestmentNews partnered with Thomson Reuters on the event. Mark Bruno, associate publisher of InvestmentNews, spoke at the event.
For the third year in a row, the High Water Women charity was featured at the dinner. Janice Abert, a retired asset management industry recruiter, rallied attending fundsters to contribute to the charity's 2018 backpack drive. HWW raised more than $20,000 at the awards dinner last night, and their goal is raise a total of $400,000 by the end of June to supply 20,000 children with backpacks full of school supplies.
Mike Naughton, managing director of the America's for Thomson Reuters' financial and risk practice, also spoke briefly, noting that it's been 15 years since the first Lipper Fund Awards celebration and 45 years since Michael Lipper founded his eponymous data shop (which is now part of Thomson Reuters).
The event also featured a "fireside chat" (sans fireside) between Michael Kushma, chief investment officer of global fixed income at Morgan Stanley, and Lauren Young, money editor at Reuters.
The Thomson Reuters team also brought back the "walk-up music contest," with award presentations accompanied by songs and each table racing to tweet the correct artists. Fundsters at the winning table, number 14, each took home $100 Amazon gift cards.
About 180 people, including fundsters from at least 23 fund firms, attended the awards dinner.
Nuveen (which now includes all of TIAA's asset management business) won 28 awards, including two group awards, and Vanguard won 28 awards. T. Rowe won 26, Fidelity won 22, and Pimco won 13. Morgan Stanley won 12, including one group award. Other group winners included: DFA, which won a total of eight awards; Allianz Global Investors, which won a total of four awards; Thrivent, which won a total of three awards; Ashmore, which won two total awards; and Primecap.
Capital Group's American Funds and MassMutual's OppenheimerFunds won nine awards each. Eaton Vance won eight, and Wells Fargo won seven.
AQR, BlackRock, Cohen & Steers, BNY Mellon's Dreyfus, Franklin Templeton, GMO, Goldman Sachs, and Parnassus won four awards each.
Charles Schwab, Columbia Threadneedle, Federated, Hartford, Invesco, J.P. Morgan, Legg Mason, Loomis Sayles, and Oberweis won three awards each.
American Century, Clearwater Management Company, Crossmark, Macquarie's Delaware, GW Capital Management, Waddell & Reed's Ivy, Janus Henderson, Lazard, Lord Abbett, New York Life's MainStay, Harris' Oakmark, Polaris Capital Management, Principal, ProFunds, RMB, TCW, Thompson IM, Thornburg, Tortoise, Transamerica, Victory, and Voya won two awards each.
361 Capital, Adirondack Research and Management, Altegris, Artisan, Boston Partners, Brown Capital Management, Canaval Hill, Catalyst, City National Rochdale, Clark Capital Management, Crawford Investment Counsel, CS McKee, Dodge & Cox, DoubleLine, Edgewood Management, Euro Pacific, First Trust, Front Street, Gabelli, Gateway, Guggenheim, Harbor, Harvest, Hennessy, Hotchkis & Wiley, Icon, Infinity Q Capital Management, Kerns, Kinetics, Leuthold Weeden, LoCorr, LSV Asset Management, Marsico, MFS, Neuberger Berman, Nuance, Oak Associates, Pension Partners, Prudential's PGIM, Virtus' Ridgeworth, RiverNorth Capital Management, Royce, Saratoga, Shelton Capital Management, Third Avenue, Towle, USAA, Van Eck, Viking Fund Management, and Wasatch won one award each.
Here's the methodology behind the Lipper awards.
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