Causeway Capital Management Named 2024 Asset Manager of the Year by Envestnet

Rhea-AI Summary

Envestnet (NYSE: ENV) announced the winners of its 2024 Asset Manager of the Year Awards at its Elevate conference. Causeway Capital Management earned the top honor for its Causeway International Value ADR Strategy. Envestnet's Co-Chief Investment Officer Dana D'Auria praised the winners for their exceptional performance and innovative strategies. The selection process involved a comprehensive review by Envestnet | PMC's research team, focusing on 2023 performance, team quality, process discipline, alpha thesis, and competitive advantage. Other winners include Vanguard, Jennison, and ClearBridge in various categories.

Positive

• Causeway Capital Management was named 2024 Asset Manager of the Year, enhancing its reputation and potential client interest.
• Envestnet's thorough and rigorous selection process boosts credibility with investors.
• The award recognizes top performance and innovative strategies, highlighting excellence in the industry.
• Winners like Vanguard and ClearBridge also received accolades, showcasing a diverse range of successful investment strategies.

Negative

• The press release lacks specific performance metrics, making it hard to quantify the exact benefit for investors.
• No financial data or impact on ENV's stock performance is mentioned, leaving shareholders without concrete information.
• The announcement may not have immediate financial benefits for Envestnet or its shareholders.

Now In Its 20th Year, Envestnet's Asset Manager of the Year Awards Program Recognizes Top Performing Portfolio Managers with Standout Strategies

BERWYN, Pa., May 15, 2024 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) announced the winners of its 2024 Asset Manager of the Year Awards during a ceremony at the company's annual Elevate conference. Among the distinguished winners, Causeway Capital Management earned the prestigious title of Manager of the Year for its Causeway International Value ADR Strategy.

"Congratulations to Causeway Capital Management for being named Manager of the Year, and to all our category winners for their outstanding performance and strategic flexibility over the past year amid the continuous ebb and flow of market noise," said Dana D'Auria, CFA, Co-Chief Investment Officer and Group President of Envestnet Solutions. "Beyond delivering exceptional results, this year's winners have distinguished themselves by pushing the boundaries of investment strategies. They continue to set new benchmarks for excellence and innovation—and the ultimate winners are investors and the industry."

Before selecting Causeway Capital Management as Manager of the Year, Envestnet | PMC's 28-member research and due diligence team conducted a thorough review of its peers in the international, global, and emerging markets equity space. With a focus on managers who demonstrated strong performance in the calendar year 2023, other criteria included having a high-quality investment team, a disciplined and repeatable process, a clear alpha thesis, and a sustainable competitive advantage. Additionally, long-term performance and the stability of the firm were key considerations in determining the overall Manager of the Year and category winners.

Envestnet previously announced this year's finalists earlier this month.

List of Category Winners

Fixed Income

• PIA Intermediate Core Plus Strategy

Global, International, Emerging Market

• Brandes International Equity ADR SMA
• Causeway International Value ADR Strategy

Large Cap Equity

• Jennison Large Cap Growth SMA
• Columbia Contrarian Core SMA

Liquid Alternatives

• Vanguard Market Neutral (VMNIX)

Small, SMID, Mid Cap

• Baron Small Cap Fund
• Principal Edge SMID Dividend Income

Specialty

• Baron Real Estate Fund (BREIX)

Sustainable

• ClearBridge Large Cap Growth ESG

Multi-Asset Strategist

• GLOBALT innovatETF Portfolios

About Envestnet

Envestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights, and comprehensive solutions – backed by industry-leading service and support. Serving the wealth management industry for 25 years with more than $6 trillion in platform assets—more than 109,000 advisors, 17 of the 20 largest U.S. banks, 48 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs -- thousands of companies, depend on Envestnet technology and services to help drive business growth and productivity, and better outcomes for their clients.  Data as of 3/31/24.

Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV). For a deeper dive into how Envestnet is shaping the future of financial advice, visit www.envestnet.com. Stay connected with us for the latest updates and insights on LinkedIn and X (@ENVintel).

MEDIA CONTACTS:
Amy Norcini
Envestnet
Amy.Norcini@envestnet.com

Andrew Jennings | JConnelly for Envestnet
envestnetpr@jconnelly.com

 

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SOURCE Envestnet, Inc.

FAQ

What is the 2024 Asset Manager of the Year Award?

The 2024 Asset Manager of the Year Award, presented by Envestnet, recognizes outstanding portfolio managers with exceptional performance and innovative strategies.

Who won the 2024 Asset Manager of the Year award?

Causeway Capital Management won the 2024 Asset Manager of the Year award for its Causeway International Value ADR Strategy.

What factors were considered in selecting the 2024 Asset Manager of the Year?

Factors included strong 2023 performance, high-quality investment team, disciplined process, clear alpha thesis, and sustainable competitive advantage.

What is the stock symbol for Envestnet?

The stock symbol for Envestnet is ENV.

When were the winners of the 2024 Asset Manager of the Year announced?

The winners were announced on May 15, 2024, during Envestnet's annual Elevate conference.