For its push into lifetime income options such as the IncomeFlex
plan, which tracks market value and income base to convert accumulated assets into guaranteed income. Also for creating solutions for
employees to pay off student loan debt as well as save for retirement.
Fund Evaluation Group
For being unafraid to “give their real opinion or make unconventional recommendations,” according to one nominator, and for its
ability to analyze where an institution has a competitive advantage—and where it shouldn’t try to beat the market.
Goldman Sachs Asset Management WINNER
For its involvement in annuitization deals as an OCIO—most
notably in WestRock’s $2.5 billion risk transfer with Prudential—its
continued expansion in the space with acquisitions, and for securing
high client satisfaction in overall service, performance, and fees.
For its team led by Frank van Etten and Charles Service, and for
the most recent expansion into discretionary services targeting institutional clients with less than $250 million in assets by partnering
with UBS’ wealth management unit.
Corporate Investment Strategies
Goldman Sachs Asset Management
For topping CIO’s LDI survey once again in client satisfaction—
nearly two-thirds of asset-owning respondents were “extremely
satisfied”—besting industry mainstays like PIMCO and NISA.
Legal & General Investment Management America
For its holistic de-risking approach that not only hedges liabilities but also seeks returns, and for pushing for a move away from
market-based benchmarks to liability-based ones. Also for its innovation in de-risking solutions for small pension plans.
Nuveen Asset Management WINNER
For its “family of building block pension indexes” that aim to match
traditional defined benefit plan liability and show lower tracking
error versus pension liabilities than what’s seen in today’s market—
“without the need for derivatives.”
Corporate Liability Strategies
For its hholistic de-risking approach, “highly customized and
constantly evolving” completion management strategies—which
combine PIMCO’s credit capabilities and derivatives expertise
and incorporate factors beyond traditional risk-factor matching
targets—and glidepath implementation.
For the firm’s continued dominance in the pension-risk transfer
space, having struck a number of large-scale deals in 2016—most
notably WestRock’s $2.5 billion risk transfer and U TC’s nearly $2
billion buyout, among other reinsurance and annuity deals.
For “outstanding service” and for clearly and succinctly laying out
implementation plans for clients that allow them to meet their target
allocation. “Their reporting is clear,” says one nominator. “Citi
kept me updated throughout the entire process.”
For firmly establishing itself in the transition management industry
despite being in the business for only three years. Also for scoring
high with clients—the firm was rated “excellent” in 86% of transitions in CIO’s transition management survey, while charging the
Data & Technology
For consistently helping improve institutional clients’ investment
and risk management decisions through high-caliber mathematical
and asset-liability tools, as well as consulting services.
For its “innovative and highly functional technology platform” that
helps investors manage their entire portfolio. “It’s a true multi-asset portfolio management, analytic, and reporting platform built
specifically to address limited partners’ needs,” says one nominator.
“It’s an all-in-one system.”
For its Social Property Fund, an approach driven by high impact
and social sector organizations that helps fund low-income housing
in the UK—and for generating stable, long-term, and infla-tion-linked returns while making an impact.
State Street WINNER
For launching “SHE,” the gender diversity ETF that evaluates
the 1000 largest US firms for the ratio of women on boards and
executive positions—and for initiating conversations about women
in investing through conferences along with allocators like Chris
Ailman, CIO of the California State Teachers’ Retirement System.