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2023 Asset Management & Servicing Industry Innovation Award Finalists Announced

CIO will recognize firms driving change and enhancing performance in institutional investing on December 5.
By CIO Staff

For the 13th year, Chief Investment Officer is celebrating asset management firms and consultants that have thrived and been incredible leaders, even as markets have turned rough and inflation and rates have risen.

As we selected finalists for the 2023 Industry Innovation Awards, our mission was to search the industry for firms that have truly and reliably enhanced the portfolios and improved the work of their clients.

From this qualified group of contenders, a panel of judges will help select the winners, which will be announced December 5 at the Industry Innovation Awards Celebration in New York City.


The finalists are:

Data and Technology

  • DEF 14 Inc.
  • DiligenceVault
  • LP Analyst
  • Lumenai Investments LLC
  • PitchBook
  • Venn by Two Sigma

Emerging Markets

  • Principal Finisterre
  • Vontobel

ESG

  • Bailard
  • Principal
  • Sage Advisory Services
  • Schroders Asset Management
  • TOBAM
  • Vontobel

Hedge Funds

  • Aspect Capital
  • Lumenai Investments LLC

Liability-Driven Investing (LDI) – Large*

  • Agilis
  • LGIM America
  • NISA Investment Advisors
  • Principal Asset Management
  • SLC Management

*Assets under management less than $1 trillion

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Liability-Driven Investing (LDI) – Mega†

  • Capital Group
  • Goldman Sachs Asset Management
  • JP Morgan Asset Management
  • Wellington Asset Management

†Assets under management in the trillions

Multi-Asset Portfolios

  • Goldman Sachs Asset Management
  • LGIM America
  • Lumenai Investments LLC
  • TOBAM

OCIO

  • Berg Capital Management
  • BlackRock
  • Goldman Sachs
  • SEI
  • TIFF Investment Management

Pension Risk Transfer

  • Agilis
  • Athene
  • NISA Investment Advisors
  • OneAmerica

Private Credit

  • 17Capital
  • Apollo Global Management
  • Eagle Point Credit Management
  • Principal Asset Management – Middle Market Direct Lending
  • SLC Management

Private Equity

  • 17Capital
  • Apollo Global Management
  • Ariel Alternatives, LLC, private equity subsidiary of Ariel Investments, LLC

Public Fixed Income

  • Capital Group
  • LGIM America
  • NISA Investment Advisors
  • Vontobel

Real Assets and Infrastructure

  • Bailard
  • Cohen & Steers
  • Principal Asset Management

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Home > News > Risk > JOLTS Report Sends Stocks Tumbling, Prompting Visions of Another Fed Hike
Risk

JOLTS Report Sends Stocks Tumbling, Prompting Visions of Another Fed Hike

Job openings surge for August is almost 1 million higher than expected.
By Larry Light

The good-news-is-bad-news narrative continued Tuesday, as a new report showed job openings expanding, thus furnishing fresh evidence that the economy has failed to slow as much as the Federal Reserve wants as it seeks to curb inflation.

The number of open jobs in the U.S. soared in August, far above projections. The latest Job Opening and Labor Turnover Survey, or JOLTS report, issued Tuesday by the Bureau of Labor Statistics, showed 9.6 million jobs open at the end of August, an increase from the 8.8 million job openings reported for July.

The JOLTS news precedes the much-anticipated September employment report, due out Friday. Employment in August moved upward, while the jobless number remained low, up only slightly to 3.8%, from 3.5% in July.

The strong JOLTS report was a surprise to Wall Street, which had expected 8.8 million openings in August, about even with the July number. The S&P 500 slid 1.4% for the day, also pushed by a jump in the 10-year Treasury yield to 4.80%, up from 4.68% on Monday and part of a steady escalation since April.

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“A cooling labor market was expected to emerge, but the August job openings data showed a large pickup with vacancies,” commented Edward Moya, a senior market analyst for the Americas at currency trading platform OANDA Corp., in a statement.

Fed Chair Jerome Powell noted recently that the hot jobs market was a troubling factor for the central bank. In his September 20 press conference, he remarked that “although the jobs-to-workers gap has narrowed, labor demand still exceeds the supply of available workers.” Openings are down from their record peak in March 2022 (12.03 million) but are still above historical averages. The Fed’s rate-setting Open Market Committee next meets on October 31-November 1.

“Hotter-than-expected job opening data today is not good news to stocks or bonds today,” said Gina Bolvin, president of the Bolvin Wealth Management Group, in a statement. “The market wants to see this number come down, but now the odds of a rate hike have increased.”

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