Like most people, the thought of returning to work following a holiday usually fills me with dread. After a few hours at your desk that couple of weeks in the sun soon becomes a distant memory.
But I’m glad to say returning to the fold yesterday after two weeks exploring Cuba wasn’t as bad as usual. The London skies might have been grey and drizzly, but returning to work on a Thursday meant I only had two days before the weekend; and a bank holiday one at that. Furthermore however, it also happened to be the day of the annual portfolio institutional awards, which of course is the highlight of my working calendar.
Last night the piña coladas and fresh grilled lobster consumed in Cuba were replaced by Pinot Noir and, well, more lobster actually thanks to the delicious awards menu featuring a surf ‘n’ turf (lobster tail and beef fillet). In many ways, the only thing different to Cuba was the weather – the temperature outside was more mid teens than mid thirties.
The PI awards, held at the Royal Exchange, are the social event in the UK institutional investment diary. Unlike other industry awards they are solely for asset owners and by keeping the categories to a carefully considered minimum and having a 35-strong judging panel presiding over them, each submission is thoroughly scrutinised and the judging process is highly transparent.
Therefore, to win at the portfolio institutional awards is really an outstanding achievement and each asset owner who walked away with an award last night (find out who won here) should be very proud of their investment strategy, particularly given the macro-economic and risk-based headwinds investors have faced in recent years.
Last night’s event – hosted by the fabulously entertaining Steve Delo and featuring an engaging pre-dinner speech by one of Yale Economic Review’s ‘five hot minds in economics’ Tomas Sedlacek on The fetish of economy – was a real milestone for portfolio institutional. In only their third year, the PI awards have gone from strength to strength and this year both attendee and submission numbers were up.
Hopefully for those who did not submit this year, the awards and their growing reputation as a quality and intimate event should serve as incentive to enter next year. To borrow a phrase from my colleague Sana: “at portfolio institutional the end of the awards is the beginning of the awards” so if you think your investment portfolio has performed well in difficult conditions and deserves recognition then please tell us about it as we would love to see you next year. Roll on 2015!
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