Since May 30, AsianInvestor has published explanations of why the winners of its marquee Asset Management Awards scooped their prizes (see below for the links). These were presented at a celebratory dinner on May 29 (click here for a gallery of photos).
We will feature a detailed write-up on all our award winners in the forthcoming June edition of AsianInvestor magazine.
Best institutional product/strategy
UOB Asset Management (Malaysia)
UOB Asset Management has won for an exceptional delivery on an equity mandate carried out for one of Malaysia’s largest government-sponsored investors.
The mandate focuses on domestic small- to mid-cap equities, allowing the manager to short, but with cash at never more than 30% of the portfolio. The objective is an absolute return of 8.5% per annum and a return of 6%. Since inception the fund has exceeded the absolute-return benchmark and target return, often in tough conditions.
In 2015, the time weighted rate of return of 19% was well ahead of the reference index return of 3.9%. This was achieved with lower portfolio risk. Stock selection is a major factor and tactical decisions, such as the raising of cash levels, help the strategy. It is a delicate act for the manager to balance outperforming an absolute-return benchmark and a relative benchmark to receive performance fees.
The long-only nature of the fund and the cash limit presented a challenge to preserve returns in a declining market. But as the overall return demonstrated, it was an obstacle the firm surmounted with ease.
The other winners highlighted so far: