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London – September 17, 2020 – BlackRock, JP Morgan Asset Management and Robeco were the major category winners of the 2020 Broadridge Distribution Achievement Awards. At this week’s ALFI Rentrée virtual conference, the winners of each category were announced via a daily video.
Now in their fourth year, the awards recognise excellence in various aspects of fund distribution. The winners are identified by Europe’s leading third-party fund selectors from Broadridge’s Fund Buyer Focus Intelligence survey and through interview data covering the 12-month period to June 2020.
The Broadridge Distribution Achievement Awards celebrate the efforts and innovation of marketing, sales and service teams in European fund distribution. The diversity of this year’s winners reflect the breadth of talent and collaboration of teams working across the industry. While global heavyweights BlackRock and JP Morgan featured in the main categories, smaller managers such as Nordea and Flossbach Von Storch were recognised in the fastest riser awards. Top ESG credentials saw Robeco named as leading group for the third year running, while in a significant move, BlackRock was named as the fastest riser in this category.
Commenting on the award winners, Mauro Baratta, Vice President, Distribution Insight, Broadridge said: “In a year of massive change for the industry, asset managers have had to contend with intensified competition, the acceleration of ESG investing and rapid digital transformation. The nominees and winners of this year’s awards demonstrate their resilience, innovation and ability to adapt while remaining focused on delivering a first-class client experience.”
Camille Thommes, Director General of ALFI, said: “Across the globe, projects are looking for financing, while investors want to channel their money towards projects worth supporting. Asset managers bring both sides together, aiming for the perfect match. As we honour their achievements in distributing investment funds, we hope to facilitate more perfect matches every day.”
The awards are based on responses from some 900 fund selectors participating in the annual Broadridge Fund Buyer Focus survey. The survey seeks to identify the changing demands of Europe’s key fund distribution influencers, and the fund providers that are delivering best-in-class standards. These fund selectors represent over €3trn of third-party client assets in Europe and are a representative voice of investors in the ten markets they serve.
Award categories and winners:
The sales relationship continues to become more nuanced, with fund selectors seeking a relationship that spans deep technical expertise, responsiveness and a clear understanding of individual business and clients’ needs. JP Morgan remained the leader in delivering the optimal balance. At the same time, Flossbach Von Storch’s fastest riser award highlights the skill and ability of smaller managers to provide a personalised and memorable service.
Overall winner: JP Morgan Asset Management
Fastest riser: Flossbach Von Storch AG
In today’s digital world, the marketing function has become critical in driving and delivering engaging, personalised experiences for clients and prospects as an integral part of the sales process. ESG and sustainability campaigns were a major focus for many asset managers, and proved an area where the resourceful BlackRock was able to stand out from the crowd, launching and promoting a new suite of ESG products, which helped it wrestle the Marketing award from JP Morgan’s powerful grip.
Overall winner: BlackRock
Fastest riser: Nordea Asset Management
ESG/Socially Responsible Investing
With increasing investor appetite for ESG and responsible investing and concerns over ‘greenwashing’, managers and their products faced increased scrutiny to demonstrate their credentials. Robeco, an early pioneer of ESG and thematic investing, demonstrated its authenticity and held on to the top award. In the past, smaller players have dominated this category while the large global houses, particularly from the US, have lagged. In a major shift this year, BlackRock’s new approach to ESG fast-tracked the group to fastest riser for this category.
Overall winner: Robeco
Fastest riser: BlackRock
Regardless of size, the multi-faceted components of a company’s brand must work together to convey a clear conviction and purpose. The nominees and winners in this year’s awards displayed these characteristics. BlackRock’s supermarket offering for all weathers, augmented by its new ESG offerings, helped it maintain its clear lead with European selectors. Meanwhile, Nordea’s multi-boutique expertise promoting a dependable and stable brand resonated well with selectors, particularly in challenging market conditions. In times of uncertainty, investors and selectors alike gravitate towards a trusted, reliable pair of hands.
Overall winner: BlackRock
Fastest riser: Nordea Asset Management
Broadridge Distribution Achievement Awards
The Broadridge Distribution Achievement Awards are based on the company’s authoritative fund selector survey and the interview results collected during the period 1 July 2019-30 June 2020. This regular survey, which has been running for more than a decade, is based on in-depth telephone interviews, in local language, with over ~900 fund selectors from 10 European countries every year. These fund selectors account for €3trn of third-party assets or an estimated 70% of accessible third-party assets in Europe. The focus of the interviews is to provide feedback to asset managers on which fund groups these selectors prefer to work with overall and which groups offer superior support in the categories of marketing, sales and account management, product quality, brand and pricing.
Fund selectors are asked to nominate their three preferred suppliers in each category on an unprompted basis. The top supplier is awarded three points, the second, two points and the third, one point. This data is then aggregated to produce a ranking of named fund groups that can be compared from one time period to another. The Awards are based on the latest rankings available – period is 12 months to June 2020.
Fastest risers calculated from a comparison between June 2020 data and the previous 12 months to June 2019.
The Association of the Luxembourg Fund Industry (ALFI) represents the face and voice of the Luxembourg asset management and investment fund community. The Association is committed to the development of the Luxembourg fund industry by striving to create new business opportunities, and through the exchange of information and knowledge.
Created in 1988, the Association today represents over 1,500 Luxembourg-domiciled investment funds, asset management companies and a wide range of businesses that serve the sector. These include depositary banks, fund administrators, transfer agents, distributors, legal firms, consultants, tax advisory firms, auditors and accountants, specialist IT and communication companies. Luxembourg is the largest fund domicile in Europe and a worldwide leader in cross-border distribution of funds. Luxembourg-domiciled investment funds are distributed in more than 70 countries around the world. For further information, do not hesitate to consult www.alfi.lu.
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with more than $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge’s infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $9 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.
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