U.S. Institutional Investors Target Market Study

11 Mar

Institutional Investors target market

U.S. Institutional Investors, Consultants Have Strong Interest in U.S. Focused Investment Products in February

A majority of the top 20 products reviewed by institutional investors and consultants in the United States had a U.S. geographic focus in February, according to the just released eVestment Advantage Viewership Report. This could mean interest in, or concern about, U.S.-focused investment products among U.S.-based consultants and investors as the new presidential administration gets settled in Washington, D.C.

Institutional investors and consultants in Europe and Asia-Pacific, on the other hand, had an overwhelmingly strong interest in “Global” focused products in February, according to the new report.

The Advantage Investment Viewership Report, generated through the eVestment Advantage solution, is based on tracking daily institutional investor and consultant reviews of investment universes and products on eVestment, the global leader in institutional investment data and analytics. The report looks at Global, United States, European and Asia-Pacific profile viewership activity.

eVestment Advantage data is updated daily and provides a look at how world events, economic news and other factors impact the universes and products institutional investors and their consultants are reviewing over any time period.

Some other interesting points from the report include:

  • Products within the Master Limited Partnership (MLP) universe, which invest in MLP securities focused on energy infrastructure such as oil and gas pipelines, entered the U.S.-based client top 20 list of universes by average reviews per product in February. It remains to be seen whether this is the result of consultants and institutional investors expecting gains—arising from energy deregulation rhetoric and increases in US production from the rebound in oil prices—or fears—from uncertainty surrounding the impact of tax reform, if implemented.
  • U.S.-based and Europe-based clients showed upticks in interest in alternatives. Month-over-month changes in universes by average reviews per product showed managed futures and FoHF macro/managed futures universes drawing the attention of U.S.-based clients and event driven and FoHF multi-strategy universes garnering attention from Europe-based clients.
  • European client preferences diverged from their Asia-Pacific and U.S. counterparts in February, as balanced/multi-asset products made up half of the their top 20 most reviewed list compared to only one such product for both APAC and U.S.-based clients. The top two products by month-over-month change in the proportion of total European reviews however were both fixed income: Henderson Global Investors: Multi Asset Credit and Goldman Sachs Asset Management: Global Credit Broad. All products on Europe’s top 20 list were globally focused.
  • Similar to last month’s findings with GQG Partners’ GQG Emerging Markets Equity product, consultants and institutional investors continued reviewing newly added products in February. Villanova Investment Management Company’s Small Cap Value equity product, launched six months ago and added to the eVestment database in late January, experienced the second largest month-over-month change in the proportion of total global (all client) reviews.

The lists of the top reviewed products and universes are below. To see lists of the top universes and products that saw the largest uptick in month over month reviews, please click here or use this link https://www.evestment.com/resources/top-platform-rankings/top-institutional-products-and-universes/.

Top Reviewed Products by Total Reviews (lists may exceed 20 in the event of ties)

Global (All Clients)

Rank

Geographic
Focus

Asset Class

Aberdeen Asset Management PLC: Emerging Markets Equity

1

Global Emg Mkts

Equity

Sands Capital Management, LLC: Select Growth

2

United States

Equity

Grantham, Mayo, Van Otterloo & Co. LLC: GMO Benchmark-Free Allocation Strategy

3

Global

Balanced/Multi-Asset

Hexavest Inc.: Hexavest Global Equity

3

Global

Equity

Causeway Capital Management LLC: Causeway International Value Equity

5

EAFE

Equity

Dodge & Cox: Dodge & Cox U.S. Equity

6

United States

Equity

Walter Scott & Partners Limited: Global Strategy

7

Global

Equity

Shenkman Capital Management, Inc.: Shenkman Capital High Yield Bond Strategy

8

United States

Fixed Income

Capital Group: American Funds EuroPacific Growth Fund

9

ACWI Ex-US

Equity

Baird Advisors: Core Bond

10

United States

Fixed Income

Standard Life Investments Limited: Global Absolute Return Strategy (GARS) GTAA

11

Global

Balanced/Multi-Asset

Polaris Capital Management LLC: International Equity

11

EAFE

Equity

Loomis, Sayles & Company, L.P.: Large Cap Growth

13

United States

Equity

Jennison Associates LLC: Large Cap Growth Equity

13

United States

Equity

WCM Investment Management: Focused Growth International

15

ACWI Ex-US

Equity

Artisan Partners Limited Partnership: Artisan Non-U.S. Growth

15

EAFE

Equity

Polen Capital Management, LLC: Polen Focus Growth

17

United States

Equity

Elk Creek Partners LLC: Elk Creek Partners Small Cap Growth

17

United States

Equity

Pyrford International Ltd: International Equity

19

EAFE

Equity

Sands Capital Management, LLC: Global Growth

20

Global

Equity

Asia-Pacific Clients

Rank

Geographic
Focus

Asset Class

MFS Investment Management: MFS Global Equity

1

Global

Equity

Fulcrum Asset Management: Fulcrum Diversified Absolute Return Strategy (DAR)

2

Global

Balanced/Multi-Asset

PIMCO: Global Investment Grade Credit

3

Global

Fixed Income

Capital Group: Japan Equity

3

Japan

Equity

12th Street Asset Management Company LLC: 12th Street Opportunity

3

United States

Equity

PGIM Fixed Income: PGIM Fixed Income Global Aggregate Plus Fixed Income

6

Global

Fixed Income

Loomis, Sayles & Company, L.P.: Global Credit

6

Global

Fixed Income

American Beacon Advisors, Inc.: American Beacon Large Cap Value Fund – Institutional Class

6

United States

Equity

Veritas Asset Management LLP: Veritas Global Focus Fund

9

Global

Equity

Orbis Investment Management Limited: Orbis Global Equity

9

Global

Equity

Orbis Investment Management Limited: Orbis Japan Equity

9

Japan

Equity

Ardevora Asset Management: Ardevora Global Long-only Equity

9

Global

Equity

Aberdeen Asset Management PLC: Global Equity

13

Global

Equity

The Boston Company Asset Management, LLC: US Dynamic Large Cap Value

14

United States

Equity

Kapstream Capital Pty Ltd: Global Absolute Return (AUD cash + 2-3%)

14

Global

Fixed Income

Henderson Global Investors: Global Index Opportunities

14

Global

Equity

Janus Capital Management LLC: Janus Global Research Growth Equity

14

Global

Equity

San Juan Asset Management, Inc.: Global Long Only

18

Global

Equity

Levin Capital Strategies, LP: Large Cap Value-Concentrated

18

United States

Equity

Legal & General Investment Management: Global Corporate Fixed Income (Active)

18

Global

Fixed Income

Northcape Capital Pty Ltd: Northcape Global Emerging Markets B Equity

18

Global Emg Mkts

Equity

Pzena Investment Management, LLC: Pzena Global Expanded Value

18

Global

Equity

Dalton Investments LLC: Dalton Japan Equity

18

Japan

Equity

Harris Associates L.P.: Global

18

Global

Equity

Baillie Gifford & Co: Long Term Global Growth

18

Global

Equity

Europe Clients

Rank

Geographic
Focus

Asset Class

Standard Life Investments Limited: Global Absolute Return Strategy (GARS) GTAA

1

Global

Balanced/Multi-Asset

Veritas Asset Management LLP: Veritas Global Focus Fund

2

Global

Equity

BlackRock: Dynamic Diversified Growth

3

Global

Balanced/Multi-Asset

Invesco, Ltd: Global Targeted Returns (Henley)

4

Global

Balanced/Multi-Asset

Aviva Investors: Multi-Strategy Target Return

4

Global

Balanced/Multi-Asset

Henderson Global Investors: Multi Asset Credit

6

Global

Fixed Income

Goldman Sachs Asset Management: Global Credit Broad

6

Global

Fixed Income

Aberdeen Asset Management PLC: Emerging Markets Equity

6

Global Emg Mkts

Equity

M&G Investment Management Ltd: M&G Alpha Opportunities Fund

9

Global

Fixed Income

Amundi: Emerging Market Focus

10

Global Emg Mkts

Equity

Fulcrum Asset Management: Fulcrum Diversified Absolute Return Strategy (DAR)

11

Global

Balanced/Multi-Asset

Schroder Investment Management: Diversified Growth / GTAA

12

Global

Balanced/Multi-Asset

Nordea Investment Management AB (Denmark branch): Stable Return – Diversified Growth Strategy

12

Global

Balanced/Multi-Asset

Investec Asset Management: Diversified Growth

12

Global

Balanced/Multi-Asset

Newton Investment Management: Newton Real Return GBP

15

Global

Balanced/Multi-Asset

Polaris Capital Management LLC: Global Equity

15

Global

Equity

MFS Investment Management: MFS Global Equity

15

Global

Equity

Grantham, Mayo, Van Otterloo & Co. LLC: GMO Benchmark-Free Allocation Strategy

15

Global

Balanced/Multi-Asset

DSM Capital Partners LLC: DSM Global Growth Equity

19

Global

Equity

PanAgora Asset Management, Inc.: Dynamic Global Equity – Active

20

Global

Equity

United States Clients

Rank

Geographic
Focus

Asset Class

Sands Capital Management, LLC: Select Growth

1

United States

Equity

Dodge & Cox: Dodge & Cox U.S. Equity

2

United States

Equity

Causeway Capital Management LLC: Causeway International Value Equity

3

EAFE

Equity

Aberdeen Asset Management PLC: Emerging Markets Equity

4

Global Emg Mkts

Equity

Hexavest Inc.: Hexavest Global Equity

5

Global

Equity

Shenkman Capital Management, Inc.: Shenkman Capital High Yield Bond Strategy

6

United States

Fixed Income

Grantham, Mayo, Van Otterloo & Co. LLC: GMO Benchmark-Free Allocation Strategy

7

Global

Balanced/Multi-Asset

Capital Group: American Funds EuroPacific Growth Fund

8

ACWI Ex-US

Equity

Baird Advisors: Core Bond

9

United States

Fixed Income

Polaris Capital Management LLC: International Equity

10

EAFE

Equity

Loomis, Sayles & Company, L.P.: Large Cap Growth

11

United States

Equity

Elk Creek Partners LLC: Elk Creek Partners Small Cap Growth

12

United States

Equity

Artisan Partners Limited Partnership: Artisan Non-U.S. Growth

13

EAFE

Equity

Jennison Associates LLC: Large Cap Growth Equity

14

United States

Equity

Harding Loevner LP: International Equity

15

ACWI Ex-US

Equity

Dodge & Cox: Dodge & Cox Core Fixed Income

16

United States

Fixed Income

Polen Capital Management, LLC: Polen Focus Growth

17

United States

Equity

WCM Investment Management: Focused Growth International

18

ACWI Ex-US

Equity

Jackson Square Partners, LLC: Large-Cap Growth Equity

19

United States

Equity

Wellington Management Company LLP: Small Cap Opportunities

20

United States

Equity

Top Universes by Average Reviews Per Product (lists may exceed 20 in the event of ties)

Global (All Clients)

Rank

ACWI ex-US All Cap Growth Equity

1

EAFE All Cap Value Equity

2

EAFE Small Cap Core Equity

3

Emerging Mkts All Cap Growth Equity

4

EAFE Large Cap Value Equity

5

EAFE All Cap Growth Equity

6

Emerging Mkts All Cap Core Equity

7

Global Mid Cap Value Equity

8

ACWI ex-US Large Cap Value Equity

9

Liquid Real Assets

10

Emerging Mkts All Cap Value Equity

11

Emerging Mkts Large Cap Value Equity

12

US Small Cap Growth Equity

13

Global All Cap Growth Equity

14

ACWI ex-US All Cap Value Equity

15

US Large Cap Growth Equity

16

US Small Cap Value Equity

17

Global Tactical Asset Allocation – Hedged

18

US Small-Mid Cap Growth Equity

19

EAFE Small Cap Value Equity

20

Asia-Pacific Clients

Rank

EAFE Large Cap Growth Equity

1

EAFE Small Cap Growth Equity

2

EAFE Extended Equity

3

Japan Large Cap Core Equity

4

South Africa Equity

5

Asia Fixed Income – Hard Currency

5

Japan All Cap Growth Equity

7

Global Credit Fixed Income

8

US Corporate Fixed Income

9

US All Cap Value Equity

10

Global Enhanced Equity

11

Japan Large Cap Value Equity

11

US Municipal Fixed Income

13

Global All Cap Growth Equity

14

Japan All Cap Core Equity

15

SMA/Wrap – Global Equity

16

Global Large Cap Growth Equity

16

Emerging Mkts Large Cap Value Equity

18

Global All Cap Core Equity

19

ACWI ex-US All Cap Core Equity

20

Europe Clients

Rank

US Small-Mid Cap Growth Equity

1

Global Mid Cap Value Equity

2

US Small Cap Core Equity

3

UK Passive Equity

3

US Small Cap Growth Equity

5

Macro – Quantitative

6

Global Large Cap Growth Equity

7

UK Large Cap Value Equity

8

US Enhanced Cash Management

9

Emerging Mkts Large Cap Growth Equity

9

Global Floating-Rate Bank Loan Fixed Income

11

Europe ex-UK Large Cap Growth Equity

12

Global Passive Equity

13

UK Core Plus Fixed Income

14

Relative Value – Multi-Market Arbitrage

15

UK Passive Fixed Income

16

Asia ex-Japan Large Cap Equity

17

Emerging Mkts Fixed Income – Local Currency

18

UK Corporate Fixed Income

19

Pan-Europe Small Cap Equity

20

United States Clients

Rank

EAFE All Cap Value Equity

1

EAFE Small Cap Core Equity

2

Global Mid Cap Value Equity

3

EAFE Large Cap Value Equity

4

EAFE All Cap Growth Equity

5

ACWI ex-US Large Cap Value Equity

6

Liquid Real Assets

7

ACWI ex-US All Cap Value Equity

8

ACWI ex-US Small Cap Value Equity

9

ACWI ex-US Small Cap Growth Equity

10

US Micro Cap Growth Equity

11

EAFE All Cap Core Equity

12

Master Limited Partnership (MLP)

13

EAFE Small Cap Growth Equity

14

US Passive Large Cap Growth Equity

15

US Passive Mid Cap Equity

16

Multi-Strategy Broad Capital Structure

17

US High Yield Municipal Fixed Income

18

US Passive Russell 1000 Equity

19

US Micro Cap Value Equity

19

To learn more about eVestment Advantage or to request a demonstration, please click here or use this link https://www.evestment.com/products/advantage/.

About eVestment

eVestment provides a flexible suite of easy-to-use, cloud-based solutions to help the institutional investing community identify and capitalize on global investment trends, better select and monitor investment managers and more successfully enable asset managers to market their funds worldwide. eVestment’s mission is to help make smart money smarter.

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