Greater Manchester beat stiff competition from the London Pensions Fund Authority and the West Midlands Pension Fund, run by Wolverhampton MBC. The award was sponsored by State Street Global Advisors.
Report of the Year, sponsored by Fidelity Investments, went to Aberdeen Council, while Middlesbrough BC's Fred Green was named Investment Manager of the Year.
The Baillie Gifford-sponsored award for UK Equities went to Somerset CC. Orkney Islands Council landed the Overseas Equities prize, sponsored by Scudder Investments.
Prudential Portfolio Managers' UK Bonds award went to Brent LBC, which also landed the Global Bonds prize, sponsored by Henderson Investors. Powys CC won Norwich Union's UK Index Linked Award.
The winner of this year's Public Treasurer/Prudential Portfolio Managers Investment Challenge was Gloucestershire CC's investment manager Jerry Morrell. Mr Morrell turned a notional£100 million into more than£159m in a year.