2021 ABSIP Awards

 24 November 2021 

Nominations are open as per below

and will close on 29 October 2021

2021 ABSIP AWARDS

Preamble

After a period of great turbulence across the globe that has amplified pre-existing divides and highlighted the fragility of societies, we have all had to revisit and reconsider the way we work and interact. In the South African context, the recent developments have once again highlighted some of the major challenges that require continuous interrogation and deliberation.

As the world reflects on the effects of the pandemic and its long-term impact on societies, we are also witnessing the rise in vaccination programmes that are enabling many communities to gradually take control of their spaces. The road ahead, is likely to be a combination of management and mitigation.

 Learning to manage the new ways of doing things and still delivering value to stakeholders is going to be a key challenge for the financial sector in particular. Mitigating the effects of the pandemic on all stakeholders – whether through offering solutions that are responsive to the current challenges; or creating new products for the future, the prospects are quite exciting.

Within the financial services space, the interruptions have been pervasive and the shifts have been gradual and dramatic.

Highlighting the achievements and successes of the various institutions and individuals that have navigated the pandemic to deliver value to their stakeholders during extraordinary times, is the big theme underpinning the 2021 ABSIP Awards.

As the flagship recognition platform for the country’s financial services sector, the awards play an important role in celebrating success and excellence in transformation. This year, in response to the evolving nature of the sector, we have engaged with stakeholders across the board in order to put together a programme that reflects the key practices and fundamental principles of the financial services universe.

We invite all stakeholders to submit their nominations for the various categories that will be honoured. The full list of categories is available on 2021 Awards site.

Nominations are open from 4 October 2021 until 29 October 2021. The awards will be conferred at a prestigious awards ceremony on 24 November 2021.

Objectives

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To celebrate progress and outstanding achievements by professionals and institutions

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To recognize and celebrate excellence

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To identify upcoming talent

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To recognize leadership that progressively shapes the future of the financial services sector

2021 AWARDS

1. ASSET MANAGEMENT CATEGORY

ABSIP Award for the Best Black Fund Manager/Team of the year – Local Equities

Definition 

This Award seeks to recognise a business or team in a company that is transformed and diverse and has delivered stellar performance in the local listed equities product space over a 3 year period beating conventional benchmarks.

Criteria

  • This could be a team in company or an individual managing local equity funds on behalf of unit trusts, pension funds etc
  • The fund must be able to demonstrate superior performance over the past 3 years relative to peers who manage similar asset classes in the industry
  • The fund must be able to demonstrate superior performance over the past 3 years relative to the target benchmark (Verifiable on Morningstar)
  • If nominating an individual fund manager, the individual must be black
  • If applying as a team; the team must have majority black representation over the fund
ABSIP Award for the Best Black Fund Manager/Team of the year – Global Equities

Definition

This Award seeks to recognise a business or team in a company that is transformed and diverse and has delivered stellar performance in the global listed equities product space over a 3 year period beating conventional benchmarks.

Criteria

  • This could be a team in company or an individual managing global equity funds on behalf of unit trusts, pension funds etc.
  • The fund must be able to demonstrate superior performance over the past 3 years relative to peers who manage similar asset classes in the industry.
  • The fund must be able to demonstrate superior performance over the past 3 years relative to the target benchmark (Verifiable on Morningstar).
  • If nominating an individual fund manager, the individual must be black
  • If applying as a team; the team must have majority black representation over the fund
ABSIP Award for the Best Black Fund Manager/Team of the year – Listed Debt

Definition

This Award seeks to recognise a business or team in a company that is transformed and diverse and has delivered stellar performance in the local listed debt or local bond product space over a 3 year period beating conventional benchmarks.

Criteria

    • This could be a team in company or an individual managing listed debt funds on behalf of unit trusts, pension funds etc
    • The fund must be able to demonstrate superior performance over the past 3 years relative to peers who manage similar asset classes in the industry
    • The fund must be able to demonstrate superior performance over the past 3 years relative to the target benchmark (Verifiable on Morningstar)
    • If nominating an individual fund manager, the individual must be black
    • If applying as a team; the team must have majority black representation over the fund
ABSIP Award for the Best Black Fund Manager/Team of the year – Hedge Funds

Definition

This Award seeks to recognise a business or team in a company that is transformed and diverse and has delivered stellar performance in the local hedge fund product space over a 3 year period beating conventional benchmarks.

Criteria

  • This could be a team in a company or an individual managing hedge funds on behalf of unit trusts, pension funds etc
  • The fund must be able to demonstrate superior performance over the past 3 years relative to peers who manage similar asset classes in the industry
  • The fund must be able to demonstrate superior performance over the past 3 years relative to the target benchmark (Verifiable on Morningstar)
  • If nominating an individual fund manager, the individual must be black
  • If applying as a team; the team must have majority black representation over the fund
ABSIP Award for Best ESG Strategy

Definition

This Award seeks to recognise a business or team in a company that is transformed and diverse and has a recognised ESG strategy and process for measuring, monitoring, and reporting that is recognised by clients as being easy to understand whilst sufficiently detailed to capture all elements of ESG scoring.

Criteria

  • This is an award for a majority Black-owned firm which has an investment philosophy that incorporates considerations relating to environmental, social, governance factors
  • Be able to demonstrate evidence of inclusion of ESG considerations in decision making
  • Be able to demonstrable examples of engagements around ESG with tangible outcomes (social upliftment, good governance, transformation, good environment
  • Firm must demonstrate excellent UNPRI ratings, CRISA and any other recognised ESG monitoring platform (and/or improvement over time)

2. RETIREMENT FUNDS CATEGORY

ABSIP Award for Asset Allocation to Black Fund managers (by percentage) – Subcategory A: Private Funds

Definition

This Retirement Fund will be able to demonstrate either by quantum or by percentage of AUM a commitment to transformation expressed in policy and action and will have a significant proportion of funds with black managers. Private, Bargaining and Standalone Funds will be considered here.

Criteria

This award will be awarded to the entity in each sub-category which scores the highest points in relation to the criteria below:

  • The existence and implementation of a transformation policy with an objective of supporting black asset managers
  • The percentage of the entity’s assets that is allocated to black asset managers of the total fund
  • The compliance and level of the entity’s investment consultant with the BBBEE codes
ABSIP Award for Asset Allocation to Black Fund managers (by percentage) Subcategory B: Umbrella Funds

Definition

This Retirement Fund will be able to demonstrate either by quantum or by percentage of AUM a commitment to transformation expressed in policy and action and will have a significant proportion of funds with black managers. Only Umbrella Funds will be considered.

Criteria

This award will be awarded to the entity in each sub-category which scores the highest points in relation to the criteria below:

  • The existence and implementation of a transformation policy with an objective of supporting black asset managers
  • The percentage of the entity’s assets that is allocated to black asset managers of the total fund
  • The compliance and level of the entity’s investment consultant with the BBBEE codes

3. INSURANCE CATEGORY

ABSIP Financial Inclusion Award – Low-cost access provided to lower LSMs: Subcategory A: Short-Term insurance

Definition

This award recognises transformation in a short-term insurer and scoring will be on the basis of transformation in terms of Equity, Management, Board, Staff Composition and Product design and costing for HDI Market.

Criteria

  • Entity offers products to the lower end of the market that are fairly priced and accessible
  • Can demonstrate an increase in previously uninsured customers
  • Sales force is transformed and representative of the broader market
  • Simplifies insurance and offers financial education to end consumers
  • Demonstrates product, pricing, product benefits innovation with the lower end LSM customer in mind (Inclusivity)
  • Demonstrates financial literacy to the product target market.
ABSIP Financial Inclusion Award – Low-cost access provided to lower LSMs: Long-term Insurance/Life insurance

Definition

This award recognises transformation in a long term or life insurer and scoring will be on the basis of transformation in terms of Equity, Management, Board, Staff Composition and Product design and costing for HDI Market.

Criteria

  • Entity offers products to the lower end of the market that are fairly priced and accessible
  • Can demonstrate an increase in previously uninsured customers
  • Sales force is transformed and representative of the broader market
  • Simplifies insurance and offers financial education to end consumers
  • Demonstrates product, pricing, product benefits innovation with the lower end LSM customer in mind (Inclusivity
  • Demonstrates financial literacy to the product target market

4. BANKING CATEGORY

ABSIP Financial Inclusion Award – Low-cost access provided to lower LSMs: Banking Institutions

Definition

This award will go to the bank that can demonstrate that they are creating access to historically Disadvantaged Individuals and Groups by having an affordable cluster of products with superior benefits to serve the community. This will also be coupled with demonstrating a commitment to financial literacy on the product.

Criteria

  • Entity offers products to the lower end of the market that are fairly priced and accessible
  • Can demonstrate an increase in previously unbanked customers
  • Sales force is transformed and representative of the broader market
  • Simplifies banking and offers financial education to end consumers
  • Demonstrates product, pricing, product benefits innovation with the lower end LSM customer in mind (Inclusivity)
  • Demonstrates financial literacy to the product target market

5. VENTURE CAPITAL CATEGORY

ABSIP Award for Venture Capital Fund Supporting Black Start-ups

Definition

This award recognises the Venture Capital Fund investing R50m or less in businesses that can show a demonstratable commitment to supporting black businesses through investment or an investment thesis centred on investing in black businesses, that has deployed capital and has at least 3 years of track record making investments.

Criteria

  • Resources allocated to black owned start-ups as a percentage of total budget allocated to funding start-ups
  • Number of black-owned start-ups that have been funded
  • Number of start-ups operating and making a profit
  • Number of employees hired by these start-ups
  • Programs/support/training/mentorship that have been provided by the funder
  • Percentage of total funding allocated to black women and youth-owned start-ups
  • Entrepreneurial Eco-system: provide details of technological, networks and distribution support provided to SME’s
  • Financial sustainability of the funder as well as competency of management team
  • Be able to demonstrate job creation impact
  • Driving transformation in the Venture Capital space
  • Be able to demonstrate examples of social impact with tangible outcomes

6. PRIVATE EQUITY CATEGORY

ABSIP Award for the Best Private Equity fund

Definition

This award recognised the Private Equity or Mezzanine Debt Fund investing in businesses that can show a demonstrable commitment to supporting black businesses through investment or an investment thesis centred on investing in black businesses, that has deployed capital.

Criteria

  • Resources allocated to black owned start-ups as a percentage of total budget allocated to funding start-ups
  • Number of black-owned start-ups that have been funded
  • Number of start-ups operating and making a profit
  • Number of employees hired by these start-ups
  • Investing in SA companies with a minimum investment of R50 million or more
  • Investments must be in the period at least 3 years old
  • Programs/support/training/mentorship that have been provided by the funder
  • Percentage of total funding allocated to black women and youth-owned start-ups
  • Entrepreneurial Eco-system: provide details of technological, networks and distribution support provided to SME’s
  • Financial sustainability of the funder as well as competency of management team
  • Be able to demonstrate job creation impact
  • Driving transformation in the Private Equity space
  • Be able to demonstrate examples of social impact with tangible outcomes
  • Demonstrable effort to transform the board, management and/or the target market of the company

7. STOCKBROKING CATEGORY

ABSIP Award for the Best sell-side Research Analyst/Team

Definition

This award seeks to recognise a black sell-side research analyst or a 51% or more team who show stellar performance over a 3-year period.

Criteria

  • Individual must be Black, or team must be majority Black
  • High external ratings of analyst/team
  • Demonstrable contribution to firm’s success
  • Publication’s coverage (number of research papers published per sector)
ABSIP Award for the Best sell-side Dealer/Dealing team

Definition

This award seeks to recognise a black sell-side dealer or a 51% or more team who show stellar performance over a 3-year period.

Criteria

  • Individual must be Black, or team must be majority Black
  • High external ratings of analyst/team
  • Demonstrable contribution to firm’s success
  • Publication’s coverage (number of research papers published per sector)

8. CONSULTING CATEGORY

ABSIP Award for the Most Transformed Investment/Asset Consultant

Definition

This award seeks to recognise an Asset Consulting firm that can demonstrate its own transformation, where the business is 35% or more black owned, 50% of the board is black, 50% or more of management is black. This must be coupled with a demonstratable common effort to allocate and support the growth of black managers. Multi-managers will be considered here.

Criteria

  • Asset Consulting firm with greatest absolute or demonstrable progress (over 3-year period) in transformation of the firm itself – with reference to all categories of BBBEE scorecard
  • Increase in assets allocated to Black investment managers – absolute and increase over 3-year period
  • Commitment to training and development of young Black people to join the industry as consultants
  • Show existing systems and processes for supporting black managers.
  • Be able to demonstrate the appointment of black service providers
  • Be able to demonstrate a transformative agenda in equity/bond management and teams
  • Be able to demonstrate examples of social impact with tangible outcomes

9. CORPORATE FINANCE CATEGORY

ABSIP Impact Award – Corporate Finance Team

Definition

This award recognises the corporate finance team that is at least 51% Black and can demonstrate the team worked on said deal and in a business that is 30% black owned or more with a 51% black board or more with 30% or more female participation, that has implemented a deal with demonstratable impact either socially where HDIs are the beneficiaries of the change, transformatively with clear economic impact and unique structuring.

Criteria

  • Majority Black team with consideration of deals advised in 3-year period based on number of deals and deal value
  • Transformational impact and support of transactions
  • Transactions that show innovative structuring and excellence
  • Be able to demonstrate examples of social impact with tangible outcomes
  • Ability to support capital raising, sustainability in consideration in advisory transactions

10. SERVICE PROVIDER TO FINANCIAL SERVICES SECTOR CATEGORY

ABSIP Award for Excellence in Ancillary Services

Definition

This Award seeks to recognise businesses that provide and are part of the Financial Services Ecosystem that are transforming across the entire value chain. This will include but not be limited to Administration Companies, Actuaries, Finance, Banking, Corporate Finance and Private Equity Attorneys, Accounting, Consulting and Conference Management Agencies.

Criteria

  • Majority Black team
  • Be able to demonstrate examples of social impact with tangible outcomes
  • Offering support to emerging black businesses
  • Be able to demonstrate differentiating products that support new market entrants

11. EXCEPTIONAL CATEGORY

ABSIP Award for Student Chapter of the Year

Definition
The award recognises the most active and vibrant ABSIP Student Chapter (SC) and is conferred by the NEC of Student and validated by the National Adjudication Panel by way of substantiating grounds of Award.

Criteria

  • The number of quality events the SC organised for its members.
  • SCs that have managed to involve participation from ABSIP corporate members.
  • SCs with the greatest number of members recruited in the current year.
  • SCs that have received recognition from the respective universities Division Dean of Students and Student Representative Council (SRC).
  • Closed nomination
Mxolisi Mbetse Award for Outstanding Black Young Professional

Definition

This award recognises an individual whose contribution to YP has been outstanding and immense within a 3 year period and is conferred by the National Executive Committee of Young Professionals and validated by the National Adjudication Panel by way of substantiating grounds of Award.

Criteria

  • Young, up and coming ABSIP member
  • Success at a young age relative to peers
  • Commitment to ABSIP
  • Demonstrates leadership potential
  • Exemplifies ABSIP’s values
  • Be able to demontrate a transformative agenda and value add as a young professional
  • Be able to demonstrate examples of social impact with tangible outcomes
  • Closed nomination
ABSIP Award for Outstanding Female Professional

Criteria

  • Contribution to industry and transformation objectives
  • Commitment to ABSIP
  • Demonstrates courageous leadership
  • Exemplifies ABSIP’s values
  • Track record of advancing the careers of fellow women professionals
  • Mentor/role model to women in the industry
  • Be able to demonstrate examples of social impact and value add with tangible outcomes
  • Closed Nomination
Greg Boyd Award for Contribution to ABSIP

Definition

This award is bestowed by the NEC in consultation with the AC to confer an Award on an individual whose contribution over a sustained period to ABSIP has had meaningful and lasting impact. This award may also be awarded posthumously.

Criteria

  • Shows commitment to ABSIP through membership, involvement in events, fundraising, furthering the objectives of ABSIP over a period of at least 3 years
  • Exemplifies ABSIP’s values
  • Closed Nomination
ABSIP Award for Corporate Board Diversity

Definition

This Award seeks to recognise a board that is diverse, transformed and critically weighted in skills diversity. Boards must be at least 51% Black Owned, must be at least 30% female and as per King Code have majority non executive of whom the majority are independent.

Criteria

  • South African Company that displays diversity, with a minimum requirement of 51% black participation, 30% female representation. Consideration will also be made for representation of youth and persons with disabilities on the board
  • Board composition that includes a diverse group of people in terms of race, gender, skill set, experience and background – in absolute terms and improvement over the last 3 years
  • Board shows a commitment to transformation of their own business, the industry and the country
  • Demonstrated credibility within the market as a whole
  • Competence – show a deep understanding of the company’s business model and having prevailed over no permanent value degradation of the business
  • Commitment of company to economic growth and investment in South Africa
  • Employee engagement, leadership development and internal people processes