Record Highs and Exceptional Returns Across Global Markets
NEW YORK, Nov. 21, 2025 /PRNewswire/ — Zephyr, a subsidiary of Informa plc (LSE: INF), and a recognized leader in asset and wealth management software has released its highly anticipated PSN Top Guns List for Q3 2025. The list is an important reference for plan sponsors, investors and asset managers, showcasing the best performing separate accounts, managed accounts and managed ETF strategies each quarter.
“Q3 2025 delivered strong broad-based market gains, creating opportunities for skilled active managers,” says PSN Product Manager Nick Williams. “PSN Top Guns managers excelled by capitalizing on the market’s broadening rally and navigating the Fed’s policy pivot effectively. Their ability to position strategically across asset classes while maintaining discipline during this positive environment demonstrates the distinct value of active management in SMAs.”
Asset and wealth managers use Zephyr’s PSN to connect with institutional and retail investors. The PSN SMA database includes over 2,800 firms, 285 universes, and more than 21,000 products, detailing asset breakdowns, compliance, key personnel and more. PSN’s unique feature is its extensive historical database, offering more than 40 years of data, including net and gross-of-fee returns.
Zephyr’s Market Strategist Ryan Nauman evaluated this quarter’s PSN Top Guns list and noted, “There was strong equity performance, driven by demand for artificial intelligence and technology, a much-anticipated interest rate cut and solid corporate earnings,” Nauman said. “As investors demonstrated remarkable resilience in the face of ongoing policy uncertainties, trade tensions, persistent inflation and elevated valuations.”
Nauman reviewed three universes for this quarter. Below are some of the strategies that make up the PSN Top Guns Small Cap Universe.
- White Pine Capital, LLC.: Small Cap (+25.7% for the quarter)
- Advisory Research, Inc.: Partners (+24.3% for the quarter)
- Old West Investment Management, LLC: Old West Small Cap (+21.7% for the quarter)
The following strategies made the PSN Top Guns list for the International Equity Universe.
- RBC Global Asset Management: RBC China Equity (+31.9% for the quarter)
- Fisher Investments: China A-Share Equity (+27.6% for the quarter)
- Baillie Gifford Overseas Limited: China Equities (+24.6% for the quarter)
Below are some of the strategies that make up the PSN Top Guns Municipals Universe.
- Richmond Capital Management: Opportunistic Muni CEF SMA (+5.2% for the quarter)
- MacKay Shields LLC: Municipal New York (+3.9% for the quarter)
- Columbia Threadneedle Investments: US Strategic Municipal Income (3.9% for the quarter)
To enhance PSN contributors reach even further, Zephyr has launched a robust promotional and market intelligence package program, the PSN Manager Advantage. The promotional package offers digital coverage and brand publicity, featuring ongoing marketing and a dedicated landing page to educate visitors about individual SMAs. The market intelligence Package provides actionable market insights from the PSN Database, enhancing your exposure and branding. Visit https://informaconnect.com/zephyr/psntopgunsmanageradvantage/ to learn more.
In addition to the PSN Manager Advantage program, PSN has launched the “Inside SMAs” podcast, creating a dynamic platform for exploring SMA strategies, market trends and industry insights. This engaging series brings together thought leaders to discuss the evolving landscape of separately managed accounts. If you’re interested in sharing your expertise as a guest on the podcast, please contact [email protected]. View all episode here.
Nauman’s complete Q3 2025 Top Guns Commentary can be viewed on the company’s website. The complete PSN Top Guns list and an overview of the methodology, can be found here. If you would like to learn more about becoming a part of the PSN database or would like to subscribe to PSN data, visit PSN.
Zephyr’s PSN Outlook for 2025 highlights thought leadership in asset management with articles from leading SMAs firms including Affinity Investment Advisors, Ativo Capital, Aapryl, a subsidiary of Xponance, Boston Common Asset Management, Capital Wealth Planning LLC, Cornerstone Investment Partners LLC, Data Centrix, finmason, Horizon Investment Services, Martin Investment Management LLC, One Oak Capital Management, Oppenheimer Investment Management, Rothschild Wealth Partners, Shaker Investments, Tannin Capital. Zephyr’s PSN Outlook for 2025 can be accessed here.
About PSN
For over four decades, PSN has been a top resource for asset and wealth managers. Asset managers rely on Zephyr’s PSN to effectively reach institutional and retail investors. Over 2,800 firms, 285 universes, and more than 21,000 products comprise the PSN SMA database showing asset breakdowns, compliance, key personnel, ownership diversity, ESG, business objectives and strategy, style, fees, GIC sectors, fixed income ranges and full holdings. Unique to PSN is its robust historical database of more than 40 Years of Data Including Net and Gross-of-Fee Returns. For more details visit PSN online to learn more.
About Zephyr
Zephyr‘s award-winning asset and wealth management software offers portfolio construction, proposal generation, advanced analytics, asset allocation, manager screening, risk analysis, portfolio performance and more, transforming multifaceted data into digestible intel. The award-winning technology empowers financial professionals to navigate a bullish or bearish market. Zephyr was honored with the 2025 FinTech Breakthrough Award for “Best Wealth Management Company.” It followed the previous year’s 2024 FinTech Breakthrough Award for Best Overall Analytics Platform. Zephyr’s asset and wealth management software allows asset managers to communicate their strategies more cost-efficiently by using customized, on demand template technology. To learn more about Zephyr, visit ZephyrFinancialSolutions.com.
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SOURCE Zephyr, an Informa Company
