BBY Limited Wins International Business Awards
Monday 7th July 2008 | 5:39 AM
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BBY Limited has won an International Stevie Award for Best New Financial Product in The 2008 International Business Awards. The International Business Awards are the only global, all-encompassing business awards program honoring great performances in business.
Nicknamed the Stevie® for the Greek word “crowned,” the awards will be presented to winners at a gala dinner on Monday, September 8 in the Shelbourne Hotel in Dublin, Ireland. Primary sponsors for the event will be Dow Jones and IDA Ireland.
Recipients of International Stevie Award trophies were selected from more than 1,700 entries received from organizations and individuals in more than 30 countries. Organizations all over the world are eligible to compete in The International Business Awards, and can enter in any of more than 40 categories from Best Multinational Company and Best New Product to Best Corporate Social Responsibility Program and Best Executive.
BBY Limited won the Best New Financial Service or Product category with the Value and Momentum Monitor that has been achieving absolute returns of 24%. The Value and Momentum Monitor (Short and Long Portfolio) utilises an innovative approach conceived by Peter Rice, analyst at BBY Limited, and has outperformed the market for 76% weeks since inception.
The excellent results are based on an equity-valuation approach (as against a standard corporate valuation approach), and as such, seem to explain more accurately and consistently, the performance of stocks in the ASX200. BBY believe that these valuations give a far better indicator of medium term (3-12 month) share price performance than valuation methodologies generally used in the market.
BBY Limited was also a finalist in the Best Overall Company in Asia.
Members of the Awards Board of Distinguished Judges & Advisors and their staffs selected International Stevie winners from among the Finalists, which were determined by volunteer judges around the world during two months of preliminary judging.
“Entries to the IBAs grew 65% this year and that illustrates the increasing importance of The International Business Awards worldwide,” said Michael Gallagher, president of The Stevie Awards, presenters of the IBAs. “We congratulate all of the Finalists and International Stevie Awards winners, and we look forward to honoring them for their achievements at our gala awards dinner in Dublin on September 8.”
“Winning an international business award for the Value and Momentum Monitor is a great achievement,” said BBY CEO, Glenn Rosewall. “In current market conditions, to obtain an absolute return of 24% is outstanding,” he said. “We are very pleased with this result.”
Winning the International Business Award has come at a good time for BBY Limited, on the back of the recent win of Best Corporate Deal awarded by The Australian Stock Brokers Foundation for the Linc Energy $28 Million dollar placement in October 2007 that was up 440% at the time of the award ceremony.
The Bloomberg league tables released this week also show BBY ranked No1 for IPO’s in Australia in 2008, and No.10 in All Equity Issuance in Australia for 2008. The Thompson league tables show similar successful results with BBY ranked No1 for Australian Materials transactions with 55.9% of the market share and No 3 for most notable Australian IPO’s (Coalworks Limited).
“BBY is going from strength to strength,” said Rosewall. “We’re dedicated to delivering results for our clients, and by focusing on that, we’re winning awards,” he said. “We have good people working hard, finding opportunities that deliver results.”
BBY is a full service stockbroking and corporate advisory firm. BBY’s head office in Sydney is supported by offices in Melbourne and London, and has major US investment bank Jefferies Inc. as an equity partner.
Established in 1987, BBY has built its reputation upon assisting growing and mid-sized Australian companies capitalise on opportunities in a dynamic marketplace.
BBY assists its clients to make the best possible decisions, and wherever possible outperform the market, through its dedication to delivering well regarded research written by experienced analysts. Our corporate finance and institutional broking teams have accurate information on market flow and sentiment, which we believe delivers the results our client’s value.
BBY has an independent funds manager specializing in absolute return funds called Jaguar Funds Mgmt. The flagship fund, the Jaguar Australian Leaders Long Short Fund, aims to provide investors with risk-adjusted returns regardless of market conditions.
For further information please see http://www.bby.com.au
Complete lists of honorees and other details are available at www.stevieawards.com/iba.
About The Stevie Awards
Stevie Awards are conferred in four programs: The American Business Awards, The International Business Awards, The Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. Honoring companies of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at www.stevieawards.com.
Global Sponsor of The 2008 International Business Awards is Dow Jones. Premier sponsor of the September 8 awards gala is IDA Ireland. Supporting Sponsors include BT Conferencing and Weber Shandwick UK. National Sponsors include the Korean Business Communicators Association and the Public Relations Society of India. Media Sponsors include CorpComms magazine and Berlin’s JazzRadio 101.9. Localization Partner for the 2008 IBAs is Lionbridge.
For further information contact:
Marketing and Communications Manager
Press release published by www.seekingmedia.com.au