BlackRock maintains top position in
Broadridge's Fund Brand 50 global asset manager rankings amid
market volatility
LONDON, March 28, 2023 /PRNewswire/ -- The latest edition
of Broadridge's Fund Brand 50 (FB50), an annual research study by
global Fintech leader Broadridge Financial Solutions,
Inc. (NYSE:BR) was released today, highlighting the world's
best-performing third-party asset management brands. The study
reveals 'green' credentials are more coveted – and more scrutinised
– by European fund selectors than ever before.
"This development follows news of a European Commission
clarification on funds which market themselves under the 'deepest
green' Article 9 classification," said Liam
Martin, Director of EMEA Insights, Broadridge. Despite this
development, the incentive for firms to establish their
environmental bona fides is stronger than ever, as Broadridge Fund
Buyer Focus Intelligence (FBFI) reveals European fund selector
sentiment appetite for ESG assets proved to be one of the sole
positive areas of demand through 2022's collapse in risk
appetite.
The independent study, now in its 12th year, measures
and ranks asset managers' relative brand attractiveness based on
fund selector perceptions: taking into account 10 brand attributes
to reveal the top global and regional brands in Europe, the U.S. and APAC. FB50 also reveals
the local market brand leaders in APAC and Europe's most significant retail markets for
third-party fund distribution. This is the latest study from
Broadridge's Data and Analytics business and highlights the depth
and breadth of the firm's global market insights.
Top-10 European Asset Management Brands
Rank
|
Fund
Group
|
Change
|
1
|
BlackRock
|
No Change
|
2
|
JPMorgan AM
|
No Change
|
3
|
Fidelity
|
No Change
|
4
|
Pictet AM
|
No Change
|
5
|
Amundi
|
↑ 1
|
6
|
Robeco
|
↓ 1
|
7
|
Schroders
|
No Change
|
8
|
iShares
|
↑ 3
|
9
|
Nordea
|
↑ 1
|
10
|
Flossbach von
Storch
|
↑ 3
|
Key insights
The top-five global brands, led by BlackRock, are all industry
giants in terms of both assets under management and operational
scale. The top firms continue to jostle for pole position, and
there has been some change at the top end of the leaderboard. The
remainder of the top-50 list sees selector's favourite companies
run the gamut, from niche product and local market specialists to
the major one-stop-shop providers.
In the wake of the announcement of the European Commission's
clampdown on 'greenwashing', ESG credentials are vital to fund
buyers.
This provides asset managers with a chance to translate 'green'
credentials into a genuine competitive advantage. This year's FB50
study shows that positive perceptions of a firm's ESG credentials
can have an outsized impact on the success of smaller managers.
Firms who have their Article 9 credentials revoked run the risk of
reputational damage.
But ESG isn't the only shift affecting fund buyer sentiment.
High-performing pandemic-era growth strategies are beginning to
suffer course correction, which in some cases has led to managers
sharply dropping down the leaderboard. An extensive re-rating of
former growth market beneficiaries is likely to define the next few
years.
In some cases, the reputational damage was along extreme lines:
firms facing scandal, criminal proceedings or significant exposure
to Russia all suffered steep drops
down the leaderboard. We are clearly in a new era of ethical
investing, where fund buyers will not maintain relationships with
firms whose activities fail to meet their moral standards,
regardless of fund performance.
Valued attributes
European selectors valued 'Client-orientated thinking' as the
most important brand attribute, ahead of last year's favourite,
'Appealing investment strategy'. Clearly a year of upheaval has led
fund buyers to feel more comfortable when they are the focus of
attention, with selectors placing a high value on those they can
trust to respond and meet their needs. Despite the rise of new
metrics for measuring asset manager value, good client service
never goes out of fashion.
The rest of the top five was as follows: 'Appealing invest
strategy, 'Expert in what they do', 'Keeping best informed' and
'Innovation/adaptation to change' – revealing some changes in
preference from last year's ranking.
Additional findings from this year's study
include:
- Expert reputation drove the fastest-rising brands in
Europe: whether the magic touch of
a maverick founder; an unorthodox mixture of star-led and
qualitative teams; or stock-selection-focused active managers with
strong 'green' credentials, firms enjoying positive fund buyer
perceptions of expertise made up ground on larger asset managers as
they shot up the rankings.
- With many European fund buyers facing SFDR headaches, firms
with strong communications and disclosure capabilities found
themselves enjoying a major competitive advantage.
About the research
The Broadridge Fund Brand 50 report is an annual study
monitoring the influence of brand on third-party fund selection.
The study is based on intensive interviews with more than 1,200 of
the most significant fund selectors in Europe, the US and APAC. Fund selectors name
their top-three suppliers across 10 brand attributes.
These attributes are as follows:
- Client-oriented thinking
- Appealing investment strategy
- Expert in what they do
- Keeping best informed
- Innovation/adaptation to market change
- Stability of investment management team
- Solidity
- Key international player
- Local knowledge
- Social responsibility/sustainability
These answers, as well as commentary from other preference
questions, are collated using statistical analysis and transformed
into a 'Total Brand Score', on which groups are ranked.
Asset managers, consultants and other industry stakeholders
interested in receiving the in-depth Broadridge Fund Brand 50
analysis can make their request via the Fund Brand 50 information
page.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech
leader with $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 US$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 13,000 associates in 21
countries. For more information about us, please visit
broadridge.com.
Media Contacts:
Europe
Hannah Polson
Cognito
+44 (0) 7974 244217
BroadridgeEMEA@cognitomedia.com
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