In its 5th Annual U.S. Investment Management Awards, Institutional Investor named Bruce Berkowitz 2013 Money Manager of the Year. The awards recognize U.S. institutional investors whose innovative strategies and fiduciary savvy resulted in impressive returns in 2013, as well as U.S. money managers in 36 asset classes who stood out in the eyes of the investor community for their exceptional performance, risk management and service. A list of top performing managers in each of the 36 strategies was identified by Institutional Investor Magazine's editorial and research teams based on data provided by eVestment. In parallel, a ‘call for nominations’ was conducted to the industry-at-large inviting nominations. This combined intelligence was used to develop a short-list of nominees in each strategy. More than 1,000 leading U.S. pension plans, foundations, endowments, and other institutional investors were then surveyed and asked to vote for up to three managers in each strategy in which they invest that demonstrated the best overall performance during the past year. Investors were also provided the option to write in a manager who did not appear on the pre-populated list. Institutional Investor Magazine's editorial team analyzed the survey results to determine the winners.

The Morningstar Fund Manager of the Decade award, which was awarded for the first time in 2010, recognizes fund managers who have achieved superior risk-adjusted results over the past 10 years and have an established record of serving shareholders well. While the awards focus on performance over the past decade, Morningstar takes into consideration other factors, including the fund manager’s strategy, approach to risk, size of the fund, and stewardship. Both individual fund managers and management teams are eligible, and being a previous winner of the Morningstar Fund Manager of the Year award isn’t a prerequisite. Morningstar’s fund analysts select the Fund Manager of Decade award winners based on Morningstar’s proprietary research and in-depth evaluation.

Established in 1988, and awarded to Bruce Berkowitz in 2009, the Morningstar Fund Manager of the Year award recognizes portfolio managers who demonstrate excellent investment skill and the courage to differ from the consensus to benefit investors. To qualify for the award, managers’ funds must have not only posted impressive returns for the year, but the managers also must have a record of delivering outstanding long-term risk-adjusted performance and of aligning their interests with shareholders’. The Fund Manager of the Year award winners are chosen based on Morningstar’s proprietary research and in-depth qualitative evaluation by its fund analysts.