GLOBAL - Over three quarters of pension funds take asset managers' corporate culture into consideration when awarding mandates, according to the latest Global Pensions 100 Panel survey.
A further 31% said the issue was a very important factor in their deliberation process.
Richard Grottheim, CEO, AP7, told Global Pensions: "Corporate culture is definitely one of the issues we take into consideration, but of course it is not the only or most important one when selecting a manager."
Grottheim continued: "We look at how hungry a firm would be to have us as clients and at their creative environment to see how they would generate ideas to produce good returns."
Global consultants, Watson Wyatt, said it had various criteria to assess corporate culture within asset managers, which included talent, experience and staff turnover.
Paul Deane-Williams, head of public relations for investment, Watson Wyatt Worldwide, commented: "We believe that the most important element of researching an asset management firm is the quality of the people, which includes how an organisation can attract and retain the best people, either through its business structure or its culture."
Deane-Williams added that winning the war for talent was critical to success in asset management and Watson Wyatt valued a culture that recognised, encouraged and rewarded independent creativity. Only 13.4% of pension fund managers said the issue did not enter into their manager selection process.
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