Cass Business School triumphs at inaugural Investment Marketing and Innovation Awards
Cass Business School, part of City University London, won the academic category at the inaugural Investment Marketing and Innovation awards.
Professor Andrew Clare and Dr Nick Motson took the award for their research into alternative equity indices. 'Monkey versus Fund Manager' described the research findings that discovered a computer simulation of random stock-picking, likened to the decision making processes of a monkey, outperformed a traditional market capitalisation weighted index every time.
- The appetite to seek new solutions
- The confidence to make them happen
- The expertise and determination to turn new thinking into business success
Lawrence Gosling said:
The judges made Cass's work a stand out submission in a very competitive category.
"Its subject matter was considered fundamental to both the investment industry but also the wider public - can investment funds add value to retail investors? Its rigorous approach to running simulated performance with thousands of variables and its conclusion that random stock selection is just as likely to generate outperformance as expert selection is both challenging and thought-provoking."
"The subsequent media headlines focussing on monkeys effectively making better investment decisions than professional investors achieved very wide media coverage and helped communicate the important issues that lies at the centre of Cass's work."
Commenting after the awards, Professor Clare said: "We were very pleased to be nominated for this prestigious award, and over the moon to have won it. Our work received a huge amount of media attention, from the Huffington Post to the China Daily, but we can't take all the credit, after all, our ten million monkeys did most of the hard work!"
Cass Dean, Professor Steve Haberman said: "I congratulate Professor Clare and Dr Motson on winning this award. A key part of the Cass research strategy is to address real world problems and offer applicable solutions that make a difference. This study is an excellent example of this in practice and the global coverage it has achieved is indicative of the impact of the findings."
The Investment Marketing and Innovation Awards (IMAIA), were hosted by Investment Week and Professional Adviser, and were held at the Royal Garden Hotel in London.
The awards categories covered both marketing and proposition development and were designed to recognise and reward innovation within the sector.