Zephyr Reveals Q4 2025 Top Performers in Separate Accounts and Managed Strategies

Event summary

  • Zephyr released its Q4 2025 PSN Top Guns List, highlighting top-performing separate accounts, managed accounts, and managed ETF strategies.
  • The list includes 2,800 firms, 285 universes, and over 21,000 products, with a historical database spanning over 40 years.
  • Top performers in the Large Value Universe include Slow Capital (+10.1%), Columbia Threadneedle (+9.4%), and Harris Associates (+8.6%).
  • In the Europe Universe, ARGA Investment Management (+10.8%), Wellington Management (+9.3%), and Pzena Investment Management (+8.6%) led.
  • High Yield Universe top performers were Fidelity Institutional (+2.4%), Loomis Sayles (+2.2%), and Sage Advisory (+2.1%).

The big picture

Zephyr's Q4 2025 Top Guns List underscores the resilience of active management strategies amid global market challenges. The list, a key reference for investors and asset managers, highlights the ability of top performers to navigate geopolitical tensions and economic uncertainties. With over 21,000 products and 40 years of historical data, Zephyr's PSN database remains a critical tool for evaluating and connecting with asset managers.

What we're watching

Market Resilience
How global markets will sustain positive returns amid geopolitical tensions and economic uncertainties.
Active Management
Whether active management strategies can continue to outperform in evolving market conditions.
Performance Sustainability
The pace at which top-performing strategies can maintain their momentum in 2026.