CE Award



Business management aspects of Corporate Excellence have been covered in specialist literature for more than 50 years. In 2001, Hérens Quality Asset Management was one of the first financial services providers worldwide to begin to systematically and globally apply the corresponding findings from the Corporate Excellence debate to stock selection. Hérens Quality Asset Management incorporates its experience in Quality analysis in presenting the Corporate Excellence Award.


With the Corporate Excellence Award, Hérens Quality Asset Management is above all seeking to recognize companies with excellent track records in terms of both their historical and current performance. Valuations are NOT taken into account. The award is therefore not aimed at giving an investment recommendation, nor at ensuring that a company will also be able to maintain its Excellence Status going forward.


7th Corporate Exellence Award


Hérens Quality Asset Management extends Corporate Excellence globally


Corporate Excellence analysis extended to Germany and Austria                                                                                                •    In cooperation with NZZ, FAZ, Die Presse



Hérens Quality Asset Management extends Corporate Excellence analysis to Europe and Switzerland                            •    in cooperation with NZZ (Neue Zürcher Zeitung)



Hérens Quality Asset Management initiates the Corporate Excellence Award in the Baltics



Non-Quality investments lead to financial crisis:                        •    Poor quality financial firms hit first and hardest                    •    Rest of low quality companies were to suffer afterwards

Regional Winners 2019 NOR: Medistim ASA Medical equipment & technology FIN: Revenio Group Oyj Eye diagnostics equipment UK: Games Workshop Group Plc Tabletop miniature gaming NED: ASML Equipment for the semiconductor industry AUT: Mayr-Melnhof Karton AG Carton Boards CH: Belimo Holding AG Actuator and valve technology ITA: Moncler Luxury Goods SWE: BioGaia AB Probiotic Products DK: Novo Nordisk A/S Pharmaceuticals BEL: Lotus Bakeries NV Snacks GER: Rational AG Combi steamers, ovens&cooking appliances FRA: Hermes International SA Luxury Goods ESP: Zardoya Otis SA Elevators, Escalators and Moving Walkways BALTICS: LHV Group Banking

Regional Winners


2020  Belimo

2019  Partners Group Holding AG

2018  Partners Group Holding AG

2017  Partners Group Holding AG

2016  Partners Group Holding AG

2015  Geberit AG

2014  Geberit AG

2013  Partners Group Holding AG

2012  Partners Group Holding AG

2011  Belimo Holding AG

2010  Belimo Holding AG

2009  Lindt & Spruengli


2020   Rational AG
2019   Rational AG

2018   Rational AG

2017   Rational AG

2016   Rational AG

2015   Geberit AG

2014   Hennes & Mauritz AB

2013   Hennes & Mauritz AB

2012   Hennes & Mauritz AB

2011   Hennes & Mauritz AB

2010   Novo Nordisk

2009   Axis Communications AG


2020   SEI Investments
2019   SEI Investments

2018   Infosys

2017   Infosys

2016   Infosys

2015   Infosys

2014   lululemon athletica inc



The business track record is determined independently on the basis of objective analysis. The aim is to filter out the best companies, irrespective of sector, size, future expectations or momentum – only their current Quality counts. For that reason, a SINGLE analysis method is used that treats all firms in the universe EQUALLY. The first step is an analysis of the historical data of the past five years and also the current financial year. Companies that have not yet reported their figures for the current financial year are excluded, as are double listings and companies without data. The companies are initially analyzed on the basis of various Quality statistics and characteristics, and a ranking list is drawn up. Having ascertained the best 15 firms in each market, their data quality is checked and a thorough financial analysis is carried out. The top ten companies in each market are then subjected to an in-depth qualitative analysis and the results are documented in detail. This documentation and a suggested winner per market are then submitted to the jury for their decision.


Dr. Philipp Weckherlin

Hérens Quality Asset Management – CE Asset Management AG, Switzerland

Markus P. Hepp

Hérens Quality Asset Management – CE Asset Management AG,


Prof. Dr. Max Ringlstetter

Chair for Business Administration, Organization and Human Resources, University of Eichstätt-Ingolstadt, Germany

Prof. Dr. Dieter Pfaff

Lehrstuhl für Accounting, insbes. Unternehmensrechnung und Controlling, University of Zürich, Switzerland

Baltic Corporate Excellence Award

The Baltic Corporate Excellence Award is a prize that is given to companies that qualify under the excellence criteria developed by the Hérens Quality Asset Management group. The award was first presented in 2008 upon the initiative of Alphinox Quality AS – Riga (a research department of Hérens Quality Asset Management). The key idea behind the project is to determine excellent companies in the Baltic stock universe and to motivate other exchange-traded companies to improve their corporate transparency, financial results and other aspects in order to become attractive investment targets. Alphinox Quality AS and its academic partner (Riga Technical University) believes that initiative will help the executives of the Baltic companies to assess the factors and criteria investors are evaluating before making an investment decision.

More information about Baltic Corporate Excellence Award: www.alphinox.com