The awards, to be presented May 16, honor managers that "stood out in the eyes of the investor community for their performance, risk management and service" during the previous year.
"It is wonderful to be honored by Institutional Investor and its readers for our expertise in municipal fixed income, a core investment product that embodies the best attributes of our global fixed income team," said Stephen N. Potter, president of Asset Management at Northern Trust. "For more than 30 years, municipal fixed income at Northern Trust has been built on the strength of our proprietary credit research, trading scale and portfolio management experience, and guided by our fiduciary heritage as an asset manager for sophisticated individuals and institutions."
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Award winners are chosen by the editorial staff of Institutional Investor magazine based on their market intelligence, performance data and additional information received from the industry following a public call for nominations. Manager winners are also selected by the editors of the magazine based on the results of a survey conducted of U.S. institutional investors. Northern Trust was previously named Equity Index Manager of the Year in 2011, in the second annual U.S. Investment Management Awards.
Northern Trust has more than $300 billion in fixed income assets under management, including more than $20 billion in municipal securities as of March 31, 2013. The majority of municipal securities are actively managed in a "relative value" style designed to preserve capital while generating income, for clients including high net worth individuals and institutions.
"Institutional investors, both taxable and tax-exempt, are showing more interest in high-quality municipal bonds as a source of yield in this extended period of low interest rates," said Timothy T. McGregor, director of Municipal Fixed Income at Northern Trust. "Tax exempt fixed income is a large and inefficient market that can offer opportunity if an asset manager has skill, scale and experience in portfolio management, research and trading these securities."
Asset Management at Northern Trust begins with listening and leads to answers beyond the expected for our clients. The multi-asset class investment management business is comprised of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Global Investments Japan, K.K., the investment advisor division of The Northern Trust Company and The Northern Trust Company of Connecticut and its subsidiaries which offer investment products and services to personal and institutional markets.
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