Bailard Named a 2022 Best Places to Work for Financial Advisers
In the latest industry recognition for Bailard, we are honored to announce we have been included in the InvestmentNews’ 2022 Best Places to Work for Financial Advisers list. We were chosen as one of this year’s top 75 based on employer and employee surveys delving into everything from company culture, benefits, career paths and more. We pride ourselves on promoting a work environment that is both engaging and industry leading.
“We are a values-driven firm in how we approach all aspects of our work – from how we advise and manage our clients’ assets to how we treat one another,” said Sonya Mughal, CEO of Bailard. “We have always been proud of our company that promotes a culture which is compassionate, ambitious, and drives our company forward. A culture that is both a great place to work and allows us to provide best in class service to our clients.”
Not only do we pride ourselves on our team’s culture, but we also cherish our ability to evolve. Over half a century, we have evolved our business to expand the services we offer our clients from our Real Estate Fund, to our approach to Sustainable, Responsible and Impact Investing, to our commitment to our community through the Bailard Foundation.* However, we believe the real evolutionary feat is expressed in our workplace. We have continued to be a top place to work while transitioning to a remote work environment, and continue to be a truly independent firm. We are proud to be women-led and majority employee-owned, with a remarkable team.
“In a year that’s seen so much turmoil in the workplace – from mask mandates and canceled office reopenings to The Great Resignation – InvestmentNews is proud to spotlight those firms with a proven record of investing in their most valuable resource: their employees,” said Paul Curcio, executive editor of InvestmentNews. “We applaud this year’s finalists and wish them all the best in 2022.”
We would like to extend a warm thank you to InvestmentNews for thinking of us for this list. We would also like to congratulate the other firms that made this list.
To learn more about the InvestmentNews 2022 75 Best Places to Work for Financial Advisers, please go to Bestplacesforadvisers.com.
* The Bailard Foundation has a board of directors that is led by chairwoman Terri Bailard, widow of firm co-founder Tom Bailard, and features both friends of Bailard, Inc. and employees.
About Bailard
Founded in 1969, Bailard is an independent asset and wealth management firm serving individuals, families, and institutions alike. Bailard has a long‐term asset management track record in multiple asset classes, from domestic and international equities, to fixed income and private real estate. The firm also offers robust, in‐house ESG solutions and customized investment portfolios for clients seeking targeted exposures. Bailard combines these investment capabilities with financial, tax, and estate planning to provide comprehensive wealth management.
With over $5.5 billion in assets under management (as of 12/31/2021), Bailard is a majority employee‐owned and women‐led firm, and a Principles of Responsible Investing (PRI) signatory. A values‐driven firm based in the San Francisco Bay Area, Bailard is deeply committed to its core values of accountability, compassion, courage, excellence, fairness, and independence.
About InvestmentNews
InvestmentNews is the leading source for news, analysis and information essential to the financial advisory community. Since 1998, our standard of editorial excellence and deep industry knowledge has allowed us to educate, inform and engage the most influential financial advisers. Through a weekly newspaper, website, newsletters, research, events, videos and webcasts, InvestmentNews provides exclusive and up-to-the-minute news, as well as actionable intelligence, that empowers financial advisers to serve their clients and run their businesses more effectively whenever, however and wherever they need it.
The InvestmentNews headquarters are located in New York, with offices in Washington D.C. InvestmentNews is part of Bonhill Group.
About the 2022 Best Places to Work for Financial Advisers by InvestmentNews
Currently in its fifth year, the InvestmentNews 2022 Best Places to Work for Financial Advisers program recognizes financial advice businesses that create meaningful work experiences for all their professionals. These firms value a commitment of excellence to both their employees and clients. It is from these encouraging foundations that advice firms can provide high quality and personalized investment and financial planning for clients.
Each year, this project is conducted in partnership with employee survey firm Best Companies Group. Winners are selected from a two-part survey completed by employers and employees. Employers report their organization’s workplace policies, practices and demographics, and employees complete a survey designed to measure the employee experience. Scores from the employee survey represent three-quarters of the weight of the final rankings.
This award does not evaluate the quality of services provided to clients and is not indicative of Bailard’s future performance. There was no cost for Bailard to enter.
To qualify as one of InvestmentNews Best Places to Work for Financial Advisers, an advice firm must have at least 15 employees and have been in business for one year. This year, a total of 75 firms were placed on the InvestmentNews 2022 Best Places to Work for Financial Advisers list. 21 managers were recognized in Bailard’s category of 50+ employees, where Bailard ranked #6.
Bailard Named Best Places to Work in Money Management
We are honored to share that Bailard has earned a spot on the Pensions & Investments’ Best Places to Work in Money Management list for 2021. Our culture is a unique one, driven by a commitment to collaboration, transparency, and our shared values. Two of our core values in particular—compassion and excellence—play crucial roles in the way we manage and support our team.
This is the fourth year in a row in which Bailard has made the prestigious list, presented by Pensions & Investments in its 10th-annual survey program dedicated to identifying and recognizing the best employers in the money management industry. And not only that, Bailard has been honored with several industry accolades in 2021, recognizing both our organization as well as our Chief Executive Officer, Sonya Thadhani Mughal, CFA.
In regard to this award, Mughal shared, “My philosophy as CEO is to keep an eye towards company growth while maintaining Bailard’s emphasis on excellence and teamwork. How Bailard defines the culture of the workplace will evolve over time, but the importance of compassion and empathy are values that will remain significant forever.”
The pursuit of excellence—as a manager, partner, and employer—drives everything we do, and makes recognition like this even more impactful. As we reflect on our team, we also see much of our success is based in our diverse and inclusive environment, with a team of 72 employees that hail from over 10 countries, and a staff nearing gender parity.
“Now in its 10th year, P&I’s Best Places to Work in Money Management spotlights the unique ways that employers build healthy and thriving work cultures,’’ said P&I’s Executive Editor Julie Tatge. “This year was no different. The 100 firms profiled in our Dec. 13 issue grappled with myriad challenges posed by the pandemic and met them, helping ensure that their employees felt supported and able to do their best work.’’
Pensions & Investments partnered with Best Companies Group, a research firm specializing in identifying great places to work, to conduct a two-part survey process of employers and their employees. The first part consisted of evaluating each nominated company’s workplace policies, practices, philosophy, systems and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies. For a complete list of the 2021 Pensions & Investments Best Places to Work in Money Management winners and write-ups, go to www.pionline.com/BPTW2021.
We’d like to extend our gratitude to our Bailard team who are the foundation of this firm and its culture, as well as to our clients for their continued partnership.
About Bailard
Founded in 1969, Bailard is an independent asset and wealth management firm serving individuals, families, and institutions alike. Bailard has a long‐term asset management track record in multiple asset classes, from domestic and international equities, to fixed income and private real estate. The firm also offers robust, in‐house ESG solutions and customized investment portfolios for clients seeking targeted exposures. Bailard combines these investment capabilities with financial, tax, and estate planning to provide comprehensive wealth management.
With over $5 billion in assets under management (as of 9/30/2021), Bailard is a majority employee‐owned and women‐led firm, and a Principles of Responsible Investing (PRI) signatory. A values‐driven firm based in the San Francisco Bay Area, Bailard is deeply committed to its core values of accountability, compassion, courage, excellence, fairness, and independence.
About Pensions & Investments and the 2021 Best Places to Work in Money Management
Pensions & Investments, owned by Crain Communications Inc., is written for executives at defined benefit and defined contribution retirement plans, endowments, foundations, and sovereign wealth funds, as well as those at investment management and other investment-related firms. Pensions & Investments provides timely and incisive coverage of events affecting the money management and retirement businesses. This award does not evaluate the quality of services provided to clients and is not indicative of Bailard’s future performance. There was no cost for Bailard to enter. To have been eligible for consideration, companies must meet the following criteria: be a for-profit or not-for-profit business or public agency; have a facility in the United States; have a minimum of 20 full and/or part-time employees working in the United States; must be in business a minimum of one year; and have at least $100 million of discretionary AUM. This year, a total of 100 firms were placed on the Pensions & Investments Best Places to Work in Money Management list. 22 managers were recognized in Bailard’s category of 50 to 99 employees.
Bailard Named ‘Top 100’ Firm in Two Prestigious Industry Awards
– Bailard celebrates 3 consecutive years on CNBC’s FA 100 list
– Awards recognize Bailard’s growth, diversity, industry tenure, and more
Bailard, an independent, values-driven wealth and asset management firm in the San Francisco Bay Area, is thrilled to announce it has been named to two prestigious industry award lists: Barron’s Top 100 RIA Firms and CNBC’s Financial Advisor 100.
The awards recognize numerous factors integral to Bailard’s culture and success, including diversity of staff, assets under management, investment in technology, succession planning, and number of years in the business.
This year is Bailard’s third consecutive year on CNBC’s FA 100 list. Out of 38,802 RIA firms, Bailard ranked ninety-seventh on CNBC’s list. And, in its first appearance, Bailard ranked ninety-eighth on Barron’s list. The rankings come on the heels of Bailard CEO Sonya Mughal, CFA’s recognition as one of the Most Influential Women in the Bay Area by the San Francisco Business Times.
“In our fifty-second year of business, it is an incredible honor to be recognized–not once, but twice–as one of the top 100 firms in our space,” said Mughal. “We believe our values-driven culture, focused on core principles like independence, excellence, and accountability, fuel not only our commercial success, but also our close-knit culture and long-standing client relationships.”
Bailard is an employee-owned firm: 68 percent of employees are shareholders in the business, and 49 percent of shareholders are women or members of minority groups. Bailard manages $5.3 billion (a 33 percent year-over-year increase) and maintains a 98 percent client retention rate.* The firm is tenured enough to endure and thrive through market cycles, but small enough to remain responsive and selective.
Bailard’s personal, high-touch approach to wealth management fuels its success. Bailard focuses first on getting to know each client personally.
“A strong understanding of a client’s goals, as well as their attitudes toward money, is essential to building the right financial strategy,” said Michael Faust, CFA, President of Wealth Management. “Our client-first approach inspires trust and enables us to build with clients over time. We’re so pleased to be recognized again for our strengths in wealth management.”
The CNBC FA 100 and the Barron’s Top 100 RIAs both take a data-driven approach to each ranking. CNBC partnered with an independent data provider to analyze and force-rank the top 100 firms from an initial list of 38,802 RIA firms. Barron’s applies multiple layers of data analysis on a 102-question survey that each firm responds to. The goals of the awards are to recognize the best firms in the industry, with an eye toward improving industry standards overall.
* AUM as of 9/30/2021. The Bailard Wealth Management client retention rate for the five years ending December 31, 2020 was 98%. This number does not include terminations due to estate distributions, depleted accounts, accounts terminated by Bailard, or MY-FLEX® or MY-KIN® accounts.
About Bailard, Inc.
With over 50 years of experience, Bailard is an independent wealth and investment management firm that combines proven, proprietary methodologies with innovative new strategies to drive success for clients. For individuals and institutions alike, Bailard proudly serves as a trusted partner focused on achieving long-term results aligned with client values and goals. An independent firm since our founding in 1969, we stand committed to our values and, most importantly, our clients. With more than $5 billion AUM as of September 30, 2021, Bailard’s high-touch client service and proven track record are grounded in the firm’s core values of accountability, compassion, courage, excellence, fairness, and independence. To learn more about Bailard, please visit: https://bailard.com.
About the CNBC FA 100 methodology
CNBC enlisted data provider AccuPoint Solutions to assist with delivering the CNBC FA 100 ranking of registered investment advisors. The methodology consisted of first analyzing a variety of core data points from AccuPoint’s database of financial services firms from an initial list of 38,802 RIA firms. The list was cut to 749 RIAs that met CNBC’s proprietary criteria. (All the data collected from the RIAs was culled from the firm’s filings with the Securities and Exchange Commission.) AccuPoint then applied weighted categories to further refine and rank the firms, ultimately creating the list of the top 100. These data points included: Advisor’s compliance record; Years in business; Number of employees; Number of investment advisors registered with the firm; Ratio of investment advisors to total number of employees; Total assets under management; Percentage of discretionary assets under management; Total accounts under management; Number of states where the RIA is registered; and Country of domicile. Bailard ranked 97 out of 100 in 2021, 86 in 2020, and 54 in 2019. This award does not evaluate the quality of services provided to clients and is not indicative of the practice’s future performance. Neither the RIA firms nor their employees pay a fee to CNBC in exchange for inclusion in the FA 100.
About the Barron’s Top 100 RIA methodology
The 2021 Top 100 RIA Firms is Barron’s 6th annual ranking of independent advisory companies is based on assets managed by the firms, technology spending, staff diversity, succession planning and other metrics. Advisors who wish to be ranked fill out a 102-question survey about their practice. Barron’s then verifies that data and applies its rankings formula to generate a ranking. The formula features three major categories of calculations—Assets, Revenue, Quality of practice—with multiple sub-calculations in each. Bailard ranked 98 out of 100 on the 2021 list; this was Bailard’s first appearance. This award does not evaluate the quality of services provided to clients and is not indicative of the practice’s future performance. Neither the RIA firms nor their employees pay a fee to Barron’s in exchange for inclusion in the Top 100 Advisors.
Bailard CEO Named Among “Most Influential Women in Business”
It’s not often that a CEO is recognized for their achievements just a few short months after taking the helm of a company. But those who know Bailard understand that Sonya Mughal has been influential in this business for decades –27 years, to be exact. Sonya’s long and impressive career at Bailard has taken her through various positions in the company, starting as an entry-level analyst to working her way to Chief Investment Officer, Chief Risk Officer, and Chief Operating Officer. It’s no surprise, then, that upon her promotion to Chief Executive Officer in April, the San Francisco Business Times recognized her among their 2021 class of Most Influential Women in Bay Area Business.
The list honors women who work in a variety of fields from financial services, law, and technology to real estate, healthcare, and more. The Class of 2021 Most Influential Women have led their companies and teams through a period of unprecedented challenge. What they all share is an uncommon knack for leadership. And, in the words of Mary Huss, publisher of the San Francisco Business Times, the list is an opportunity to “recognize inspiring women leaders who individually and collectively have the strength, wisdom and influence to forge a better future.”
Sonya embodies Bailard’s shared company values of independence, courage, excellence, fairness, accountability, and compassion. She has played a key role in keeping Bailard independent over its 52-year history, and Sonya continues today, as only the third person to hold the title of CEO at the firm. Having accepted the post in the middle of the pandemic, Sonya has led with courage and compassion and her oversight helped maintain Bailard’s its focus on serving its clients with excellence, even as we continue in the virtual work world.
The San Francisco Business Times asked each recognized leader to share their wisdom, how they lead, what inspires them, and how they pay it forward. The videos were an important and inspirational part of the Most Influential Women in Bay Area Business virtual celebration held on October 7. Here’s what Sonya had to say about the importance of leading with compassion:
We are so proud of Sonya for having dedicated her career to Bailard and the financial services industry, helping to both further advance the industry and foster diversity, equity, and inclusion in financial services. Sonya has done this through her current role as a member of the Forbes Finance Council, and her prior roles of serving on the Schwab Advisor Services Advisory Board from 2018 to 2020 and on the Silicon Valley Community Foundation investment committee from 2012 to 2018.
Kenneth Blanchard, author of more than 60 books on work and leadership, once said, “The key to successful leadership today is influence, not authority.” Sonya’s compassionate, courageous, and values-driven approach has earned her influence not only at Bailard, but in the Bay Area community at large.
This recognition does not evaluate the quality of services provided to clients and is not indicative of Bailard’s future performance. There was no cost to enter the program. Nominees are evaluated on their influence in their industries as well as in their communities. Board affiliations and other leadership roles are considered. To qualify for this honor, women must be based in the SFBT coverage area, which includes the counties of San Francisco, San Mateo, Marin, Alameda, and Contra Costa. Previous honorees will only be eligible if they have changed companies or received a promotion. For more information about the 2021 Most Influential Women in Bay Area Business list, please visit: https://www.bizjournals.com/sanfrancisco/news/2021/10/07/sfbt-influential-women-in-bay-area-business-2021.html
Bailard Recognized as A Top Firm by Two Industry Awards
Bailard is recognized as both a Top Corporate Philanthropist by San Francisco Business Times and a top 100 RIA by Financial Advisor
Bailard is honored to announce its recognition as a top firm and leader, with two recent prestigious publication award wins by the San Francisco Business Times and Financial Advisor magazine. Bailard ranked on the San Francisco Business Times’ 2021 Bay Area Corporate Philanthropists List, which celebrates the San Francisco Bay Area’s most generous corporate citizens and recognizes those companies that also give their time, talent, and resources. In Financial Advisor’s 2021 list, Bailard again ranked as a top RIA firm, placing at #97 out of the over 600 eligible firms.
Together, these accolades serve as proof of Bailard’s commitment to the values of excellence and compassion, both in our community and in our industry at large. The San Francisco Business Times recognizes 100 top corporate philanthropists ranked by local cash giving. It includes for-profit companies and nonprofit health care organizations that made contributions to Bay Area charitable organizations in the following counties: San Francisco, San Mateo, Alameda, Contra Costa, Marin, Napa, Santa Clara, Solano, and Sonoma.
In the Financial Advisor RIA Survey & Ranking for 2021, Bailard was named #97 of the 607 firms included on the list. The Financial Advisor ranking is based on assets under management and is compiled through an annual survey that brings together independent RIAs across the country. Notably, Bailard has maintained its prominence in the RIA landscape after also being named in the top 100 in FA’s 2020 list.
“Through these two awards, we are honored to be recognized as a firm that is one of the top 100 independent wealth and investment management firms in the nation, and we are especially proud to also be distinguished as a strong philanthropic member of the Bay Area community,” said CEO Sonya Mughal.
“Bailard’s generosity helps to raise the bar on corporate philanthropy and inspires more giving,” said Mary Huss, Publisher of the San Francisco Business Times. “Their participation in this program helps challenge others to do more.”
This recognition as a corporate philanthropist also builds on Bailard’s commitment to the Bailard Foundation, which released its annual update celebrating its second year of serving our community and living to Bailard’s values. Read it here: The Bailard Foundation Annual Update.
* All investments involve the risk of loss. The Bailard Foundation has a board of directors that is led by chairwoman Terri Bailard, widow of firm co-founder Tom Bailard, and features both friends of Bailard, Inc. and employees.
About Bailard, Inc.
Founded in 1969, Bailard is an independent wealth and investment management firm that offers proprietary and innovative investment strategies that drive success for clients. For individuals and institutions alike, Bailard proudly serves as a trusted partner focused on achieving long-term results aligned with client values and goals. Throughout its 50+ years, Bailard has remained independent and fiercely committed to the highest ethical standards and best-in-class fiduciary principles. With over $5 billion of AUM as of June 30, 2021, Bailard’s high-touch client service and proven track record are grounded in the firm’s core values including accountability, compassion, and excellence.
About the San Francisco Business Times Corporate Philanthropy Awards
For 21 years the San Francisco Business Times has published the Corporate Philanthropists List. The list features 100 top corporate philanthropists in the Bay Area ranked by local cash giving. Each year the list is unveiled at the San Francisco Business Times’ Corporate Philanthropy Awards event. The Corporate Philanthropy Awards program was founded in partnership with Northern California Grantmakers. A portion of the proceeds goes to NCG to fund the Corporate Philanthropy Institute, with the mission to educate more companies about effective giving and best philanthropy practices. The aim is to honor those who give the most and in doing so to help raise the bar and inspire more giving. This achievement does not evaluate the quality of services provided to clients and is not indicative of Bailard’s future performance. All for-profit companies – whether public or private – along with nonprofit health care organizations were eligible. Companies were required to provide a detailed breakdown of philanthropic contributions in fiscal year 2020. This list ranks companies by dollar value of cash contributions made to Bay Area-based charities in the following counties: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma. 100 firms appeared in the San Francisco Business Times list. Bailard ranked #89. There was no fee to enter. To see the ranking list, visit: https://bizj.us/1qb83q
About Financial Advisor
Reaching 80,000 qualified readers each month, Financial Advisor delivers essential market information and strategies that advisors need to succeed in their increasingly complex environment. FA focuses on sophisticated planning and investment strategies to help advisors better serve their affluent clients, as well as practice management ideas to help advisors build their firms. FA goes in-depth to challenge traditional planning wisdom by introducing readers to new approaches to help them better counsel clients. To achieve these goals, FA continuously seeks to bring together the best team of editors and contributing writers to provide the most compelling publication for the top decision-makers in the financial advisory field. The Financial Advisor list is compiled through an annual survey that brings together independent RIAs across the country. To be eligible for the ranking, firms must be independent registered investment advisors and file their own ADV statement with the SEC, and provide financial planning and related services to individual clients. Firms were recognized by their assets under management as of December 31, 2020. For the list published in 2021, Bailard ranked #97 out of 607 firms represented. For the list published in 2020, Bailard ranked #100 out of 715 firms represented. This achievement does not evaluate the quality of services provided to clients and is not indicative of Bailard’s future performance. There was no fee to enter. To see the full list, please visit.
The Bailard Foundation Annual Update 2021
June 30, 2021
Serving the community in which we live has long been ingrained in the values of Bailard and the mindset of its employees. The desire and effort of helping our communities was foundational for the company, but there had never before been a formal channel to organize or amplify Bailard’s service. To solidify the company’s commitment to our communities and increase the impact of what Bailard, its employees, and clients support, the Bailard Foundation was created in May of 2019 in tandem with the Firm’s 50th Anniversary. The Bailard Foundation supports initiatives that the Firm, its employees, and its clients value, as we seek to collectively improve the communities in which we live, work, and engage. The four focus donation areas of the Bailard Foundation are Affordable Housing, Homelessness & Poverty, Financial Literacy, and International Impact projects. Since inception, the Foundation has donated $126,508 to various grantees and remains appreciative of the incredible support received by clients, employees, and friends of the Firm.
Giving Highlights
Pandemic Relief: The pandemic drove a number of the Bailard Foundation’s charitable strategies over the past year. Given exceptional economic need, the Foundation focused on accelerating grant giving within its core values of Homelessness & Poverty and Affordable Housing. The jeopardizing of basic human needs such as shelter and food steered the Foundation’s giving to a number of food banks including SF-Marin Food Bank, Second Harvest Silicon Valley, Alameda County Community Food Bank, and the Food Bank of Contra Costa & Solano Counties. The Foundation also gave to a several San Francisco Bay Area grantees addressing homelessness, including First Place for Youth, Glide Foundation, and Larkin Street Youth.
Black Lives Matter Movement: In regards to the Black Lives Matter movement, the Foundation implemented a number of initiatives beginning in the summer of 2020, starting with a $500 match on any employee gift to an organization that seeks to address and end systematic racism and oppression of Black, Indigenous and People of Color (BIPOC). Additionally, the Foundation gave new contributions in support of Larkin Street Youth Services, Hope SF, and the San Francisco Bay Area chapters of 100 Black Men and 100 Black Women. Through both campaigns, nine organizations received close to $19,000 in grants.
New Grantees: The Bailard Foundation’s new grantees over the past year spanned all four focus areas of Financial Literacy, Affordable Housing, Homelessness & Poverty, and International Impact. A notable new grantee within the Homelessness & Poverty focus area includes First Place for Youth, which helps Bay Area foster youth transition to responsible adulthood. In regards to International Impact, the Foundation granted $5,000 to Raising the Village, which partners with rural communities in Uganda on economic self-sufficiency initiatives, helping lift villages out of poverty. On the Financial Literacy front, the Foundation made a new $5,000 grant to Able Works, which supplies youths and young families with financial education and life skills to help overcome economic hardship.
Grantee Highlight – First Place for Youth
Mission: First Place for Youth helps foster youth build the skills they need to make a successful transition to self-sufficiency and responsible adulthood.
Services: Each year, more than 25,000 young people “age out” of the foster care system and face the prospect of independent living. First Place for Youth steps in to support young people coming of age in the foster care system whose families can’t be there for them. Beginning with safe places to live, program participants are then matched with mentors, housing and employment specialists and youth advocates who help them to persist and succeed in school, build life and job skills, and work toward careers in high-growth fields.
Grantee Highlight – The Samburu Project
Mission: To provide access to clean water and continue to support well communities with initiatives that promote health, education, women’s empowerment and general well-being.
Bailard’s Involvement: In 2020, The Samburu Project drilled seven new wells that now provide clean water to communities in Samburu, Kenya. One of these wells was co-funded by the Bailard Foundation, and will support the 670 people of the Pasinae Self Help Group of Lechur Village.
The Bailard Foundation supports initiatives that the firm, its employees, and its clients value, as we seek to collectively improve the communities in which we live, work, and engage. The Bailard Foundation has a board of directors that is led by chairwoman Terri Bailard, widow of firm co-founder Tom Bailard, and features both select friends of Bailard, Inc. and employees.
Bailard Real Estate Fund Accepted into NCREIF’s NFI-ODCE Index
SAN FRANCISCO – May 25, 2021 – Bailard, Inc. announced today that the Bailard Real Estate Fund (the “Fund”) has been added to the National Council of Real Estate Investment Fiduciaries’ (NCREIF) Open-end Diversified Core Equity Index (NFI-ODCE) as of March 31, 2021. Bailard’s Fund joins as the NFI-ODCE’s 27th active fund.
The Fund’s Chief Accounting Officer, Dipika Shull, CPA, remarked that Bailard began benchmarking its Fund against NFI-ODCE in 2015 and, “it is only fair to become part of the body to which we compare ourselves. By joining the Index, we have cemented our Fund’s position as a core real estate investment option for a range of institutional and sophisticated investors.”
The Bailard Real Estate Fund was launched in 1990 and served as an innovative and early offering for institutional private equity real estate. As of March 31, 2021, the Fund had a gross market value exceeding $1.1 billion. The Bailard Real Estate Fund’s investment strategy focuses on value-enhancement acquisition opportunities while adhering to a diversified core portfolio construction approach, with the goal to deliver attractive risk-adjusted returns through varying market environments. The Fund seeks to outperform the NFI-ODCE (EW) Index – an objective that has been achieved for 25 of 26 quarters since Bailard began benchmarking against the Index.*
Preston Sargent, the Fund’s President and CEO, noted that broadening, deepening, and diversifying the Fund’s investor base has been an important initiative for the real estate team. Sargent said, “Joining the NFI-ODCE is an important recognition of Bailard’s intent to compete on a bigger stage.” Further, he added, “Going toe-to-toe with marquee private equity real estate fund sponsors is a privilege and will be an additional motivator to sharpen our skills, focus, and stay on our game.”
About the Bailard Real Estate Fund
The Fund is an actively-managed open-end diversified core equity real estate vehicle with a strategy to maintain and grow a portfolio of high-quality assets diversified across property types, major metro areas, and investment life cycles. As of March 31, 2021, the Fund’s Gross Asset Value was $1.1 billion, invested in 31 properties across 18 U.S. markets. An investor in the Bailard Real Estate Fund must be an “accredited investor” as defined in Regulation D and provide documentation verifying such status as requested by the Fund.
About the NFI-ODCE
The NFI-ODCE is a capitalization-weighted, gross of fee, time-weighted return index with an inception date of December 31, 1977. As of March 31, 2021, the NFI-ODCE consisted of 27 funds, totaling $212 billion of net real estate assets. Open-end funds are generally defined as infinite-life vehicles consisting of multiple investors who have the ability to enter or exit the fund on a periodic basis, subject to contribution and/or redemption requests, thereby providing a degree of potential investment liquidity. The term Diversified Core Equity style typically reflects lower risk investment strategies utilizing low leverage and generally represented by equity ownership positions in stable U.S. operating properties diversified across regions and property types. For more information on the Index, please visit https://www.ncreif.org/data-products/funds/.
* Important Disclosures
Bailard, Inc. (“Bailard”) is the investment and operating manager of the Bailard Real Estate Investment Trust, Inc. (the “Bailard Real Estate Fund” or the “Fund”). While the Bailard Real Estate Fund began benchmarking itself to the NFI-ODCE as of 3/31/2015, please note that the Fund was accepted into the Index as of 3/31/2021 after meeting the eligibility requirements for four consecutive quarters. For the period ending 3/31/2021, the Fund outperformed the Index 25 of 26 quarters on both a gross and net basis. The Fund’s full performance history is available upon request.
The underlying performance results of the Fund are calculated using National Council of Real Estate Investment Fiduciaries’ (NCREIF) methodology and reflect the impact of leverage, interest, and dividend income from short-term cash investments and publicly-traded real estate investments, as applicable. Capital expenditures, tenant improvements, and lease commissions are capitalized and included in the cost of the property; are not amortized; and are reconciled through the valuation process and reflected in the appreciation return component. The performance results do not reflect Fund-level expenses, such as audit, tax, legal, operating management fee, and accounting expenses. The Fund’s income return is not the distributed income to the investor, and the Income Return is presented gross-of-fee and before Fund expenses. The NCREIF gross return methodology is as follows: the total gross return is equal to net investment income plus appreciation divided by weighted average equity. With respect to income and appreciation, the NCREIF methodology for net income return is equal to net investment income divided by weighted average equity, and net appreciation return is equal to appreciation divided by weighted average equity. Performance results are calculated on an asset-weighted average basis using beginning of period values adjusted for time-weighted external cash flows. All properties have been appraised quarterly since the third quarter of 2009. The Fund’s Board of Directors determines the value of properties based on input from independent appraisers and all levels of the Fund management. Securities, derivatives, and cash and cash-equivalent investments held by the properties and Fund are marked to market on each valuation date. The Fund’s Inception Date is April 20, 1990. The NCREIF Fund Index – Open End Diversified Core Equity (NFI-ODCE) is a fund-level, time weighted return index reporting the returns of various open-end commingled funds pursuing a core private real estate investment strategy and qualifying for inclusion in the NFI-ODCE based upon certain pre-defined index policy inclusion characteristics. Historical data is available from 1978. Like the Fund, the NFI-ODCE returns reflect leverage and the impact of cash holdings and joint ventures (i.e., returns reflect each contributing fund’s actual asset ownership positions and financing strategy). The use of leverage varies among the funds included in the NFI-ODCE. The NFI-ODCE is unmanaged and uninvestable. Past performance is no indication of future results. All investments have the risk of loss.
Bailard receives annual fees from the Fund, which are based on the Net Asset Value. The Fund invests primarily in real estate and, as a result, an investment in the Fund entails significant risks that are customarily associated with the development and ownership of income-producing real estate, including illiquidity, changes in supply and demand, and inexact valuation. The Fund’s shares fluctuate in value and may be illiquid due to a lack of redemption, the lack of a secondary market and restrictions on transfer. Fees and expenses may offset the return on the investment. The Fund may be leveraged. Projections are based on assumptions that Bailard believes are reasonable under the circumstances, they are subject to uncertainties, changes (e.g., changes in public health, economic, operational, political, legal, tax, and other circumstances), and other risks including, but not limited to, future operating results including rents, occupancy, and other property cash flows, and other expenses. Investors may lose all or a substantial portion of their investment. For a more thorough discussion of the fees and the risks involved in making an investment in the Fund, please refer to its Offering Memorandum.
About Bailard, Inc.
With 50 years of experience, Bailard proudly serves as a trusted partner focused on achieving long-term results aligned with client goals. An independent firm since its founding in 1969, Bailard stands committed to its values and, most importantly, its clients. With $5 billion AUM as of March 31, 2021, Bailard’s high-touch client service and proven track record are grounded in the firm’s core values of accountability, compassion, courage, excellence, fairness, and independence.
Bailard Named ‘Best Place to Work’ for Second Consecutive Year
Bailard is thrilled to announce our inclusion in San Francisco Business Times’ “Best Places to Work in the Bay Area” list for the second year in a row. The award is Bailard’s second workplace award this year and the fifth workplace award for the firm since 2020. The program is run jointly with the Silicon Valley Business Journal.
Looking at Bailard from the outside, some may think we are lucky. The truth is, we have figured out our secret sauce, which is made of much more than just luck. Bailard’s success is based on our shared values: accountability, excellence, independence, fairness, courage, and compassion. The commitment to living out those values throughout our 52-year history has attracted and retained world-class talent. Our values create an environment where individuals and teams can thrive.
This award, based on employee feedback, exemplifies Bailard’s commitment to fostering its culture. The survey program provides a sampling of anonymous employee responses to an open-ended opportunity for feedback, including:
- “We are an organization that cares deeply about our employees and doing the right thing by our clients. I have been with the firm for over 20 years and could not have stayed this long if I did not believe in what we do and how we treat each other.”
- “Colleagues genuinely care about your well-being, personal life, and your interests outside of work. The culture has always been strong at Bailard and we’ve really seen that shine during the pandemic and switch to work-from-home. Opportunities to foster personal growth are available if you show a desire to pursue them.”
- “It’s an organization that not only allows, but encourages everyone to push themselves beyond their daily roles. Senior management knows and has relayed to the company that if you want to do something or accomplish something within our field of work, to do it here and we will support it.”
- “I have worked for many companies in our industry and have never been more proud to work for a firm like ours that acts with integrity, genuinely cares about clients and colleagues alike, and aims to do good for our community.”
This award represents stability and focus during a pivotal transition period. We welcome Sonya Mughal, CFA to the helm as CEO, 27 years into her career with Bailard. Sonya’s leadership in various roles throughout the firm, most recently as Chief Operating Officer and Chief Risk Officer, have helped to make Bailard the outstanding place that it is to work. Her leadership will only further the work of her predecessor, Peter Hill, who stays on as Bailard’s Executive Chairman. Mughal shared, “Notably, Bailard was the only investment management firm to rank in its category of companies with 50-99 employees this year. It is an honor to shine among the best and brightest in the Bay Area.”
We thank the San Francisco Business Times and Silicon Valley Business Journal for this incredible recognition and congratulate all other winners and nominees.
About The Business Journals
The San Francisco Business Times and the Silicon Valley Business Journal are both publications of The Business Journals. The Business Journals’ 44 business publications represent the largest publisher of metropolitan business newsweeklies in the United States, reaching 3.6 million readers each week from Washington, D.C., to San Francisco, and from Austin, Texas, to Albany, N.Y. Bizjournals features local people and decision makers who are leaders in their business communities. They report on local and national issues that impact subscribers’ businesses and assist them in growing their companies.
About Best Places to Work in the Bay Area 2021
This award does not evaluate the quality of services provided to clients and is not indicative of Bailard’s future performance. There was no cost for Bailard to enter. The San Francisco Business Times and the Silicon Valley Business Journal partnered with Quantum Workplaces, an independent survey program administrator. All Best Places to Work winners are determined exclusively on the basis of their employees’ responses to the Best Places to Work Survey. Employee responses from the 30 standard survey questions, along with the number of employees that respond to the survey, are calculated to determine the company’s overall score and ranking. Eligibility requirements to enter the award included companies must have 25 or more employees (full-time and part-time) working in the following Greater Bay Area counties: Alameda, Contra Costa, Marin, Monterey, Napa, San Benito, San Francisco, San Mateo, Santa Clara, Santa Cruz, Solano and Sonoma. Employees outside of the Greater Bay Area, with 5% or greater company stock ownership, and seasonal, per diem, temporary employees were prohibited from participating in the survey. Employees completed one survey for the Best Places to Work in the Bay Area 2021 program and, as a result of Bailard’s two Bay Area offices (Foster City and San Francisco), garnered rankings in both the San Francisco Business Times and the Silicon Valley Business Journal lists. This year, 125 firms appeared in the San Francisco Business Times and the Silicon Valley Business Journal list. 25 firms were recognized in Bailard’s category of Small Employer (50-99 employees) and Bailard was 21.
Providing Clean Water to Samburu, Kenya
Clean water is a basic need for human life, yet access to it is far from equitable. According to United Nations Children’s Fund (UNICEF) and World Health Organization (WHO), 785 million people lacked access to clean drinking water, with more than half of those individuals living in sub-Saharan Africa as of 2017. The Samburu Project is helping change that.
The Samburu Project not only provides access to clean water to communities in the Samburu region of Kenya by building wells, but the organization also provides ongoing support to these communities through initiatives promoting education, health, women’s empowerment, and overall well-being. The Samburu Project preaches that water is “health, education, community, empowerment, dignity, hope and life”. The Samburu Project works in accordance with United Nations Sustainable Development Goal #6 to “Ensure availability and sustainable management of water and sanitation for all.”
Clean water allows advancement for women and girls
Providing easier access to clean water for communities like Samburu has the greatest impact on the region’s women and girls. Since the responsibility of gathering water for the community typically falls on women and girls – who must walk up to 12 miles a day to collect it – women often cannot work nor can girls attend school. With the help of The Samburu Project’s well-drilling in these communities, women and girls can pursue both education and income-generating activities. The organization also partners with schools in the community that teach the importance of hygiene, sanitation, and education. The newly-empowered women uncover that they have the autonomy to choose education and the ability to provide for themselves and their families in new ways such as through brick making businesses, beading, and successful agriculture businesses.
Providing the Pasinae Self Help Group of Lechur Village clean water
One of many groups in need was the Pasinae Self Help Group of Lechur Village, located 14 km east of Wamba in central Kenya. According to the Samburu Project, 670 people, 2,000 cows, 10,000 goats, 50 donkeys, and 200 camels call this place home and were in desperate need of clean water.
The Bailard Foundation has had the honor of being able to participate in bringing water to the Samburu community. Despite all the hardships that the year 2020 brought to the world, the Bailard Foundation, through the hard work of The Samburu Project, was able to co-fund the cost of drilling a well for the Pasinae Self Help Group. You may also learn more in a video from The Circle World Water Day Virtual Event hosted by The Samburu Project on their efforts in Kenya.
Bailard’s values-driven culture is present not only in the office but embedded in our dedication to community involvement. To formalize this passion, the Bailard Foundation was founded in 2019 in tandem with Bailard’s 50th Anniversary. The Foundation supports initiatives important to the Bailard family, employees, and clients alike, and strives to improve the communities that we engage with. The four main focus areas the Foundation targets are affordable housing, homelessness & poverty, financial literacy, and international impact projects. The Bailard Foundation has a board of directors that is led by chairwoman Terri Bailard, widow of firm co-founder Tom Bailard, and features both friends of Bailard, Inc. and employees.