The House Awards recognize managers of various asset classes and strategies for delivering sustained, consistent outperformance on a risk-adjusted basis while maintaining excellence in Benchmark's pillars. Benchmark and the buy-side community believe that investment strategies are best evaluated holistically rather than over-emphasizing past returns and risk metrics. In that light, our assessment is based on multiple facets of portfolio and risk management, and corporate strength. We see these facets as interlocking pieces forming a whole picture. Benchmark's five pillars are Investment Approach, Performance & Risk, Portfolio Management, Stewardship, and Corporate Quality.

Winning Titles
The strategy with the highest final score in its peer group wins the Best-in-Class award. Up to two Outstanding Achiever awards will be given to Strategies within a 5% margin below the Best-in-Class

Although this program assesses investment strategies rather than funds, we ask for factsheets and other information related to the oldest share class of a flagship fund so that all candidates can be measured by the same metrics. The flagship strategy must:

• have a minimum 3 years track record
• have an ISIN code
• must provide a prospectus or fact sheet

The flagship strategy submitted does not have to be an authorized fund in the jurisdiction of competition. It can be a UCITS, SICAV, etc…

In consultation with our panel of 70-80 buy-side jurors, consisting of mainly private and premier banking gatekeepers/fund selectors, family offices, and institutional investors, plus a handful of independent consultants and researchers – we’ve designed a scoring system with a questionnaire containing multiple options and binary answers. There are 3 levels of scores, the final score is a weighted combination of Levels I, II, and III:

Level I Score: Fund Questionnaire
Level II: Score: Juror Assessment
Level III Score: The Gatekeeper’s Forum

Overall Score = 60% (Level I) + 30% (Level II)+ 10% (Level III)

Level I Score: All participants are scored based on their selections of the options preset for each question in the Fund Questionnaire. The scores also pre-defined for each option in each question along the five key pillars.

Level II Score: Jurors who have signed up/assigned to a particular peer group will score based on their experience with the fund house and team, and the overall Level I scores presented to them. Scoring at this level could be relatively subjective, as each juror has his/her selection priorities, often guided by their underlying needs. For example, a private banking gatekeeper would have a different priority on criteria selection versus a single-family office.

Level III Score: All participants are invited to join The Gatekeeper’s Forum to present their strategies to the jurors. This is a highly curated forum where only the PM, CIO, or Product Specialists are invited to meet the Senior Gatekeepers in person. During the 30 minute session, a panel of 6-8 jurors will ask in-depth questions along the five key pillars for further understanding of the team practices. Jurors will score based on their satisfaction with the information received during the session.

Other Rules
Submitting Materials for Multiple Countries – If you are entering the same category for more than one country, you may use the same information, documents, and flagship fund across all the countries. For example, you’ve entered your global fixed income strategy for Hong Kong, Singapore, and Taiwan. You may use the same information for all three countries.

Submitting Materials for Multiple Strategies – Separate groups of jurors will evaluate different product types, so please make sure there is one submission per strategy. DO NOT send one submission to represent different strategies. Please submit separate entries for each strategy, with the exception of Pillar 5-Corporate Strength.

Merging Categories To ensure the quality of the awards, categories with less than three funds participating may be merged to a larger category of the same kind without prior notice

This award aims to recognize an individual who has led his/her team to outstanding and consistent performance over three-year and five-year periods against the benchmark and their peers. In particular, such individuals have demonstrated excellent stewardship and have grown the fund/mandate/strategy’s assets without compromising the safety of investors’ capital and returns.

Winning Titles
The firm with the highest score in the respective category will win the “Manager of the Year" award. Up to two “Outstanding Manager" awards will be given to providers who are within a 5% margin below the Best-in-Class.

The nominated manager must:

• have minimum 3 years track record
• provide a flagship fund as best exemplifies his/her ability to lead, respond to market changes, add value to investors and manage risks

The nominated manager requires to submit a questionnaire to show how your leadership is in line with the criteria. There are 3 levels of scores, the final score is a weighted combination of Levels I, II and III:

Level I Score: Manager Questionnaire
Level II Score: Juror Assessment
Level III Score: The Gatekeeper’s Forum

Overall Score: 60% (Level I) + 30% (Level II) + 10% (Level III)

Level I Score: Submission and supporting documents should explain the following:

• The portfolio manager’s leadership in demonstrating reasonable care and prudent judgement when managing clients’ assets
• Other ways in which the portfolio manager has demonstrated alignment with investors’ interests
• The portfolio manager’s response to a challenging situation and the outcome
• What lessons have the portfolio manager learned from mistakes made.
• Supplementary documentation can be provided, and there is no limit to the number of supporting documents which can be included

Level II Score: Jurors who have signed up/assigned to a particular peer group will score based on the their experience with the fund house and team, and the overall Level I scores presented to them. Scoring at this level could be relatively subjective, as each juror has his/her selection priorities, often guided by their underlying needs. For example, a private banking gatekeeper would have a different priority on criteria selection versus a single family office.

Level III Score: All participants are invited to join The Gatekeeper’s Forum to present their strategies to the jurors. This is a highly curated forum where only the PM, CIO or Product Specialists are invited to meet the Senior Gatekeepers in person. During the 30 minute session, a panel of 6-8 jurors will be asking in depth questions along the five key pillars for further understanding of the team practices. Jurors will score based on their satisfaction of the information received during the session.

Key Factors for Assessment by Jurors
The judges will evaluate the following factors about an individual manager.

• Creativity
• Forecasting Ability
• Speed and rigor decision making
• Response to periods of portfolio or market stress
• Ethics, risk management
• Conviction in their decisions
• The outcome of the decisions
• Role in stewardship
• ESG integration

Other Rules

Submitting Materials for Multiple Countries
If you are entering the same category for more than one country, you may use the same information, documents and flagship fund across all the countries. For example, you’ve entered your global fixed income strategy for Hong Kong, Singapore and Taiwan. You may use the same information for all three countries.

Submitting Materials for Multiple Strategies
Separate groups of jurors will evaluate different product types, so please make sure there is one submission per strategy. DO NOT send one submission to represent different strategies. Please submit separate entries for each strategy, with the exception of Pillar 5-Corporate Strength.

Merging Categories
To ensure the quality of the awards, categories with less than three funds participating maybe merged to a larger category of the same kind without prior notice

These awards recognize ETF providers who endeavor to develop products that help long-term investors achieve diversification, risk management, and asset allocation plans.

Winning Titles
The ETF with the highest final score in the respective category will be awarded the Best-in-Class (BIC) title. Up to two other ETFs with scores within 5% below BIC will be awarded Outstanding Achiever titles.

Although this program assesses investment strategies rather than funds, we ask for factsheets and other information related to the flagship ETF. The flagship ETF must meet the following criteria:

• Must have a minimum 1-year track record
• Must have an ISIN for the flagship ETF
• Must provide a prospectus or fact sheet

There are 2 levels of scoring, and the final score is a weighted combination of Levels I and II:

Level I Score: ETF Questionnaire
Level II Score: Juror Assessment
Overall Score: 70% (Level I) + 30% (Level II)

Level I Score: All participants are scored based on their selections of the options preset for each question in the ETF Questionnaire. The scores also pre-defined for each option in each question along the five key pillars.

Level II Score: Jurors who have signed up/assigned to a particular peer group will score based on their experience with the fund house and team and the overall Level I scores presented to them. Scoring at this level could be relatively subjective, as each juror has its selection priorities, often guided by its underlying needs. For example, a private banking gatekeeper would have a different priority on criteria selection versus a single-family office.

Other rules

Submitting Materials for Multiple Strategies – Separate groups of jurors will evaluate different product types, so please ensure one submission per strategy. Please submit separate entries for each strategy, except for Pillar 5-Corporate Strength. DO NOT send one submission to represent different strategies.

Merging Categories – To ensure the quality of the awards, categories with less than three funds participating may be merged to a larger category of the same kind without prior notice.

1. Actively Managed ETF
2. China A-shares ETF
3. China Equity ETF
4. Commodity ETF
5. Fixed Income ETF
6. Hedge Fund ETF
7. High Dividend ETF
8. Hong Kong Equity ETF
9. Inverse/Leveraged ETF
10. Physical ETF
11. Real Estate ETF
12. US Equity ETF
13. Taiwan Large-Cap ETF
14. Information Technology ETF

Please note that the final naming of the award category may differ from the list displayed here.

The Capability Awards recognize ETF service providers who have demonstrated excellence in problem-solving, bringing unique value propositions to investors.

Winner Selection
The firm with the highest score in the respective category will win the Best-in-Class award. Up to two Outstanding Achiever awards will be given to providers within a 5% margin below the Best-in-Class.

All ETF service providers who have the outstanding capability or significant improvement in various attributes can apply for these awards.

Juror Assessment

This score is given by the jurors. It is subjective because it depends on each juror’s interpretation of the information you provided and the jurors’ priorities, which often depend on the family office, bank, or investment advisor they serve