in Standard and Poor's Micropal Offshore Territories Survey for its mutual funds overall one-year performance.

Pictured at the ceremony at National Gallery (above) was Butterfield Asset Management managing director Peter Wignall.

The company's mutual funds, managed by subsidiary Butterfield Asset Management, also received a third place award for performance over three years in the smaller groups category.

The bank asset management group was awarded a first out of 103 other offshore managers in the one year smaller group category and third out of 83 in the three year category. The bank has $4.4 billion in assets and about $15 billion under administration.

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