Key Takeaways
- • Institutional Investor announced finalists for its seventh annual Allocators' Choice Awards, with voting open through August 9, 2024, and winners to be revealed September 12 at a gala dinner at New York's Mandarin Oriental.
- • Three allocators were finalized in the "Allocator With the Best Hedge Fund Portfolio" category: Baylor University (contrarian approach with small, concentrated positions and early-stage manager selection), Eli Lilly (creative manager engagement combining emerging and established funds with low-beta returns), and Indiana University Health (built by Deputy CIO Ryan McNally, described as a "true alpha engine").
- • Only in-house staff members from pension funds, endowments, foundations, sovereign wealth funds, insurers, healthcare systems, and family offices globally are eligible to vote; the nomination process ran May through June with input from the CIO Advisory Board and editorial staff vetting.
- • Additional awards including Lifetime Achievement and Rising Stars categories will be announced in the coming days alongside main category winners.
Summary
Institutional Investor has unveiled the finalist pool for its seventh annual Allocators' Choice Awards, marking a key recognition cycle for institutional asset owners demonstrating excellence in alternatives investing and portfolio management. The selection process incorporated nominations from asset managers, allocators, and consultants during May and June, supplemented by recommendations from Institutional Investor's CIO Advisory Board and internal editorial research and vetting. This multi-source nomination approach aims to identify top institutional performers across the allocator landscape.
The finalists represent distinct strategic philosophies within hedge fund portfolio management. Baylor University's endowment, led by CIO David Morehead (whose background includes derivatives trading), was selected for its contrarian investment approach emphasizing small, concentrated positions and early-stage manager selection. Eli Lilly advanced to the finals based on its demonstrated ability to generate strong risk-adjusted returns by integrating both emerging and long-tenured hedge fund managers within a large alternatives allocation, achieving what the award organizers characterize as impressive returns with low beta exposure. Indiana University Health rounded out the three finalists for this category, where Deputy CIO Ryan McNally has constructed what peers describe as a "true alpha engine" leveraging his experience managing equity and foreign exchange derivatives.
Voting is restricted to in-house investment professionals employed at qualifying institutional entities—pension funds, endowments, foundations, sovereign wealth funds, insurers, healthcare systems, and family offices—ensuring that only practitioners from peer organizations determine award winners. The voting window closes August 9, 2024. The awards gala on September 12 will announce winners across multiple categories, with Lifetime Achievement and Rising Stars awards to be announced separately in advance of the main ceremony. Institutional Investor is soliciting dinner attendance requests from eligible voting allocators.
The finalists represent distinct strategic philosophies within hedge fund portfolio management. Baylor University's endowment, led by CIO David Morehead (whose background includes derivatives trading), was selected for its contrarian investment approach emphasizing small, concentrated positions and early-stage manager selection. Eli Lilly advanced to the finals based on its demonstrated ability to generate strong risk-adjusted returns by integrating both emerging and long-tenured hedge fund managers within a large alternatives allocation, achieving what the award organizers characterize as impressive returns with low beta exposure. Indiana University Health rounded out the three finalists for this category, where Deputy CIO Ryan McNally has constructed what peers describe as a "true alpha engine" leveraging his experience managing equity and foreign exchange derivatives.
Voting is restricted to in-house investment professionals employed at qualifying institutional entities—pension funds, endowments, foundations, sovereign wealth funds, insurers, healthcare systems, and family offices—ensuring that only practitioners from peer organizations determine award winners. The voting window closes August 9, 2024. The awards gala on September 12 will announce winners across multiple categories, with Lifetime Achievement and Rising Stars awards to be announced separately in advance of the main ceremony. Institutional Investor is soliciting dinner attendance requests from eligible voting allocators.
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