Goldman Sachs Asset Management Winner

The pitch: We have more resources and aren’t just consultants. That’s what Goldman’s asset management arm proclaims is its special sauce as an outsourced CIO. Running allocators’ investments for them requires an OCIO that is experienced in taking portfolio ideas from implementation all the way through the process, using its knowledge of how markets function to ensure top operational and investing results. The firm says that, between its inception and the end of 2022’s first quarter, it generated 39 basis points of annualized excess returns relative to its benchmark, Goldman’s own DB OCIO Composite.

Innovations include adding intermediate credit to liability-driven investing portfolios to reduce mismatches with liabilities at the front end of the yield curve. Another addition: currency-based option strategies as a tail-risk hedge during periods of market stress. Goldman has also released its DRIVE framework, a proprietary approach to creating a sustainable investment framework for OCIO clients.

Finalists

• BERG Capital Management

• SEI Investments