Asset Management Awards: Marquee winners, explained part 2

In this series of detailed write-ups, we present AsianInvestor's Asset Management Awards' Marquee winners.

These entities are considered to be the 'best of the best' in investment management.

Today, we present the rationale for the final batch of winners in this category.

Three prestigious awards—Asia Fund House of the Year (International), Asia Fund House of the Year (Domestic), and Asset Service Provider of the Year—will be announced at the gala dinner celebration at the Ritz Carlton in Hong Kong.on May 22.

To see the announcement of our Marquee winners, click here.

Congratulations to all our recipients and a big thank you to our esteemed judging panel for their valuable insights and assessments.

Best Institutional Strategy: BPI Wealth

BPI Wealth demonstrated a compelling blend of innovation, performance, and client-focused delivery in its institutional strategy, earning it top honours in this category.

The firm grew its institutional AUM to PHP649 billion as of November 2024—a 6% year-on-year increase—representing 40% of its PHP1.5 trillion total AUM. This was driven by 318 new institutional accounts and PHP27.5 billion in additional AUM during the review period.

BPI Wealth’s 360-degree client engagement model played a central role in its success.

The strategy deepened relationships by capturing outflows from separation benefit payments, opening new mandates via employee transitions, and expanding legacy relationships through multiple touchpoints—transforming transactions into long-term wealth partnerships.

The firm’s FAST Series (Financial Awareness and Strategy Talks) further strengthened its outreach, engaging over 8,000 participants across 90 organisations.

Meanwhile, its Institutional Agency strategy and Wholesale Distribution Division drove widespread market penetration, adding 844,000 clients through six new partner firms.

Despite global volatility, BPI Wealth delivered robust performance through diversified multi-asset portfolios, with some mandates returning up to 17.29% and over 77% outperforming their benchmarks.

With sharp macro insight, tailored execution, and disciplined risk management, BPI Wealth delivered both resilience and growth across the institutional landscape.

Best Insurance Asset Manager: BOCHK Asset Management

BOCHK Asset Management (BOCHKAM) won in this category for an exceptional combination of investment acumen, client partnership, and innovation in navigating regulatory change.

As of end-September 2024, the firm managed over HK$197 billion in insurance-related mandates, with its total AUM climbing to HK$147 billion during the eligibility period—up from HK$126 billion a year earlier.

Judges praised BOCHKAM’s ability to deliver a robust performance while maintaining a 100% client retention rate, winning key new mandates, including from a major government institution.

“This was an easy-to-read submission that showed very clearly just how much its institutional client base has expanded,” judges said. “There was a very solid outperformance.”

With an institutional strategy that resonated strongly across Asia and Europe, the firm displayed a nuanced understanding of regional regulatory regimes and client-specific portfolio needs.

BOCHKAM’s forward-thinking response to IFRS 17 and the transition to Hong Kong’s Risk-Based Capital regime displayed a deep integration between actuarial and investment teams.

Its tailored reallocation strategies, use of structured investments, and hedging tools were seen as both technically sound and highly effective.

The firm also distinguished itself through use of portfolio trading to halve transaction costs and increase liquidity for clients making it one of the first to apply this technique at scale in Asia-Pacific.

Best Insurance Asset Manager (Highly Commended): HSBC Asset Management

HSBC Asset Management earns a Highly Commended award in this year’s insurance category for its long-standing expertise, strong AUM growth, and significant commitment to building tailored strategies for insurance clients in Asia.

As of September 2024, the firm managed approximately $231 billion in insurance AUM globally, supported by over 650 investment professionals across 20-plus locations.

In Asia, HSBC AM has become a go-to partner for insurance mandates, particularly in Hong Kong, where it manages $26.1 billion in dedicated HKD bond mandates.

The firm’s expanding alternatives platform—now with $71.1 billion in AUM—alongside new launches in Asia real estate, energy transition infrastructure, and private credit, was praised as a signal of forward-looking innovation.

While HSBC AM’s scale in insurance asset management is formidable, judges were particularly encouraged by its willingness to go beyond size and focus on innovation and tailored partnerships.

Best Pension Asset Manager: Manulife Investment Management

Manulife Investment Management’s comprehensive and future-focused approach to retirement solutions across Asia has earned it a Marquee Award in a strongly contested category.

With a global pension footprint spanning nearly nine million plan members, Manulife has retained leadership in key markets including Hong Kong, where it serves over one-third of all MPF members and has led the market in AUM share since 2016.

Over the eligibility period, the firm achieved 16.8% year-on-year AUM growth and a 32.5% rise in net flows, supported by exceptional fund performance and the launch of market-first ESG MPF fund conversions.

“It has a huge AUM in Hong Kong alone,” judges said. “But it adds to that strong client growth and a better than reasonable performance.”

Judges were also impressed by the firm’s strong digital transformation.

With over 50% of MPF clients now engaging through digital tools, Manulife’s partnership with WealthTech firms and launch of an AI-powered MPF robo-advisor has materially improved user engagement and retention.

It also retained 50% of retiree MPF assets, a testament to its well-executed rollover strategies.

Beyond investment returns, Manulife has actively led retirement education through initiatives like the “DiverseAsia” series and its Participant Profiling Tool, further enhancing financial literacy across six Asian markets.

Best Pension Asset Manager (Highly Commended): HSBC Asset Management

HSBC Asset Management earned a Highly Commended award in this category for its depth of capability and continued innovation in serving pension clients across Asia.

With a pension AUM of over $40 billion and long-standing relationships across defined benefit and defined contribution schemes, the firm demonstrated strong regional momentum — winning new mandates in Hong Kong, Taiwan, Macau and Thailand — while growing MPF multi-asset AUM by 22% year-on-year.

“HSBC is very competitive in this space,” judges noted.

The launch of the HSBC Post Retirement Multi-Asset Fund, Hong Kong’s first mutual fund designed specifically for retirees, reflected a thoughtful commitment to evolving investor needs.

Its flexible 6% payout model and broad diversification also made it a standout post-retirement product.

HSBC’s proprietary digital tools, including robo-advisory developments and fund optimisation platforms, further enhanced its standing.

Judges also highlighted its consistent above-median MPF fund performance and the strength of its regional multi-asset team.

Although HSBC AM is among the largest players in the market, it continues to take a client-centric approach, tailoring solutions for investors at different life stages. This blend of institutional heft and focused innovation underscored the firm’s role in shaping Asia’s pension landscape.

Best Thematic Fund House: Pictet Asset Management

Despite a challenging macro backdrop, Pictet delivered over 10% AUM growth year-on-year to maintain its position as the world’s largest active thematic fund provider.

As the leading manager of environmental thematic funds, according to Morningstar, Pictet continues to set the global benchmark with $67 billion in thematic equity AUM across 17 strategies as of October 2024.

Performance was its standout feature.

Its Clean Energy Transition and Global Environmental Opportunities strategies delivered top-quartile returns, with one-year gains of 22.97% and 24.67% respectively, and five-year cumulative returns significantly outpacing peers.

Pictet’s strength in tech thematics also endured, with the Robotics and Digital funds delivering robust growth and strong investor traction in Asia.

Pictet’s innovation in thematic private equity — raising over $1 billion across environment, tech and health-focused co-investment funds — marked a key evolution of its thematic leadership from public to private markets.

The firm also broke new ground with its proprietary biodiversity impact tool, enabling investors to quantify species loss risk in supply chains, helping meet growing demand for nature-aligned strategies.

With a proven framework and expanding toolkit, Pictet AM continues to offer relevant solutions for institutions seeking long-term thematic exposure.