La banque du Liechstenstein LGT emploie quelque 2.000 collaborateurs dans le monde. En 2014, elle a embauché 160 salariés et compte continuer sur la même lancée en 2015. «Des embauches de conseillers de la même ampleur que l’an dernier sont prévues cette année», a indiqué un porte parole de l'établissement. Selon Das Investment, en incluant les 7,3 milliards de francs d’avoirs de clients repris de HSBC Private Bank (Suisse), les actifs sous gestion ont bondi d’un cinquième à 128,8 milliards.

p { margin-bottom: 0.25cm; line-height: 120%; } The “France Investissement Assurance” partnership, launched on 22 February 2012 by CDC Entreprises (an entity which is a part of Bpifrance) in collaboration with five insurers - Allianz France, Axa France, BNP Paribas Cardif, CNP Assurances and Crédit Agricole Assurances -, can claim a first triumph. Iin the space of three years, fewer than the four initially planned, insurers have engaged EUR690m to several investment funds dedicated to the financing and growth of small and mid-sized enterprises (SME). As part of the “France Investissement Assurance” partnership, insurers engage to finance independent SMEs by subscribing to investment funds whose strategy aims to meet three objectives: assist the most enterprising businesses, favour their growth and their internationalization. The partners at that time agreed to contribute between EUR620m anf EUR740m to French SMEs over a period of four years (2012 to 2015), via eligible investment funds carrying the “France Investissement Assurance” label. This was a winning bet. After three years of partnership, the insurer partners have selected 36 investment funds, for a total engagement of EUR690m. Venture capital funds (including seed capital) represent 24% of the total sums engaged, while development capital represents 63%. 150 businesses received investments, with a continuing objective of 500 to 600 eventually. These businesses are active in the manufacturing industries (36%), life sciences (24%), services (17%), information and communication technologies (15%), and ecological technologies (5%).

p { margin-bottom: 0.25cm; line-height: 120%; } The executive board of the CNMV, the Spanish financial market regulator, has announced that it has initiated procedures to suspend the license granted to Banco Madrid to operate as a depository, and to revoke the license of Banco Madrid Gestion de Activos, its asset management firm. “The move, which is expected to be completed as soon as possible, aims to guarantee the rights of investors, and to ensure safety for their operations,” the CNMV says in a statement. Banco Madrid, an affiliate of the Andorran bank Banca Privada d’Andorra (BPA), has for several days been engaged in a bankruptcy proceeding, while its parent company has been accused of money laundering.

UK’s Financial Conduct Authority (FCA) has announced it will launch a market study on asset management in 2015/16 as part of its 2015/16 business plan. «We will develop the full scope during 2015/16, but the issues we will examine will include the charges paid by investors, and the factors that drive those charges», it says. The regulator will also conduct a «post authorisation review of funds». «We will review whether new UK authorised investment funds and segregated mandates are operated in line with our rules including all documentation, marketing material, disclosure material or investment mandates. We will also consider compliance with other responsibilities to investors such as adherence to risk management parameters». The business plan 2015/16 of the FCA «sets out to parliament, to consumers and to the firms we regulate how we plan to pursue our objectives, what our priorities are and how we will measure our success. It is, in conjunction with our Annual Report, critical for holding us to account».

p { margin-bottom: 0.25cm; line-height: 120%; }a:link { } In February, funds on sale in Italy recorded net inflows of EUR14bn, more than double their levels in January (EUR6.4bn), the most recent statistics from Assogestioni, the Italian association of asset managers, show. All categories of funds benefited. Flexible funds posted inflows of EUR5.5bn, while bond funds absorbed EUR4.3bn, equity funds EUR2.3bn, and balanced funds EUR2.1bn. Money market funds and hedge funds, however, have seen slight redemptions (EUR40m and EUR81m). In this context, assets in open-ended funds as of the end of February totalled EUR735bn. With the addition of inflows from closed funds and funds under mandate (EUR5.9bn), the Italian asset management industry last month posted net inflows of over EUR20bn. At the end of the month, assets totalled EUR1.675trn, compared with EUR1.673trn as of the end of January. Intesa Sanpaolo posted the strongest inflows in February, with EUR6.4bn, followed by another Italian, Pioneer Invetsments, which raised EUR2.9bn. A foreign company takes third place: Invesco, with net subscriptioons of EUR1.1bn. The French firm Amundi comes just behind, with EUR1bn. Among the few asset management firms to have posted outflows last month is Franklin Templeton, which saw outflows of EUR560m.

p { margin-bottom: 0.25cm; line-height: 120%; } The investment firm Partners Grouup last year earned adjusted net profits up 15% to CHF336m, on earnings up 17% to CHF574m, an activity report published by the group on 24 March states. The board of directors will on 13 May offer shareholders a dividend payment to be raised to CHF8.50 per registered share, compared with CHF7.25 for 2013. Asstes under management totalled EUR37.6bn as of 31 December 2014. Management fees rose by nearly 20% to CHF540m, while performance fees contracted by 13%, to CHF34m.

Vontobel Asset Management, the asset management division of Switzerland’s Vontobel, will acquire a 60 percent stake in TwentyFour Asset Management, an independent fixed income specialist based in London. The transaction strengthens Vontobel’s presence in the UK market, extends its fixed income product offering and underlines its commitment to broaden its asset management business through targeted investments, according to a press release. «Adding TwentyFour’s entrepreneurial culture and focused investment approach to Vontobel’s highly successful Fixed Income Boutique and global reach creates an excellent opportunity to accelerate the growth of both groups», according to the Swiss asset manager. Vontobel and TwentyFour will offer clients a broader range of specialised fixed income strategies, for which there is significant demand in the current environment of record low interest rates. In aggregate they will have approximately CHF 17 billion (GBP 12 billion) of total fixed income assets under management. Established in 2008, TwentyFour has approximately GBP 4.4 billion in assets under management, across a range of public funds and segregated accounts, managed on behalf of wholesale and institutional investors. It is owned by 10 Partners. TwentyFour’s Partners will continue to manage TwentyFour’s day-to-day operations, retaining full authority over fund investment decisions. The established TwentyFour brand will remain in place. TwentyFour’s Partners and key employees will retain a 40 per cent stake in the business and will remain fully committed to TwentyFour. To further strengthen alignment, the Partners have agreed to reinvest a significant share of their consideration into existing TwentyFour or Vontobel investment funds. In line with Vontobel’s multi-boutique structure, both firms’ investment platforms will operate independently of each other to ensure a continuation of their strong performance record. «The 40 per cent stake held by the Partners will be acquired by Vontobel over the longer-term», said the Swiss group in a statement. The transaction, which is conditional on the approval of the UK’s Financial Conduct Authority and Switzerland’s FINMA, is expected to close in the second quarter of 2015.In a separate statement, Vontobel announced that it currently entertains talks with Bank of New York Mellon (BNYM) about a possible takeover of Meriten Investment Management (Meriten), an asset manager in Germany.

p { margin-bottom: 0.25cm; line-height: 120%; } “The strategy which we do not have today and which we would like to offer is US investment grade,” Chris Bullock, co-manager of the Henderson Horizon Euro Corporate Bond, Henderson Horizon Euro High Yield Bond et Henderson Horizon Global High Yield Bond funds at Henderson Global Investors, announced at a coference in Paris on Tuesday. “But this is a highly mature and saturated market. It will take years to reach critical size,” the manager adds. “But we have to start somewhere.” The emerging market bond range will also be built up over the years. “We have launched an emerging market credit fund, the Emerging Market Corporate Bond Fund. In ten years, I am sure that we will also have a sovereign fund and an absolute return fund for emerging markets,” Bullock says. Since 2007, Henderson Global Investors has gradually built up its teams and its credit range, largely through acquisitions. The idea has been to build a global platform.

Assets under management in European responsible investment funds have seen a compound annual growth rate (CAGR) of 25% between 2012 and 2014, growing from EUR238bn to EUR372bn, according to The European Responsible Investing Fund Survey 2015 commissioned by the Association of the Luxembourg Fund Industry (ALFI) and produced by KPMG. According to the survey, these assets can be split into a number of categories: EUR322.8bn are in cross sectoral funds; EUR31.8bn are in environmental funds; EUR10.7bn are in social funds; EUR6.7bn are in ethical funds. According to the survey, institutional investors are driving the current responsible investing market. The majority of today’s responsible investors are insurance companies or pension funds and are accountable to thousands of members for their long term savings. Many of these organisations have chosen to become signatory to the UN Principles of Responsible Investment and consequently are expecting their asset managers to follow suit. The accelerating interest of institutional investors is clearly driving the move of responsible investing from niche to mainstream. The investor of the future will increasingly be looking for factors such as: tailored investment products, open and simple investment platforms or portals, flexible and adaptable products which support him and his clients through their lives. There are a number of challenges that still face the market : the retail market remains untapped, RI reporting and transparency provide a good example for the rest of the market, but still need harmonisation, there is still no common definition of what responsible investing is. .

The US asset management firm Highland Capital Management, which has about USD20bn in assets under management, has launched Highland Alternative Investors, a platform dedicated to alternative investment, which will include all existing non-traditional funds and liquid hedge funds. These funds now represent EUR5bn in assets.The “strategic move,” the asset management firm says, aims to “better unify research, risk management and investment processes via a single investment platform.”As part of this move, Highland Capital Management has appointed Michael Gregory as head of this new platform as global head and chief investment officer of Highland Alternative Investors. Gregory will continue to serve as managing director and head of healthcare credit and equity at Highland Capital Management. In this position, he will continue as portfolio manager of the Highland Long/Short Healthcare fund.

p { margin-bottom: 0.25cm; line-height: 120%; } The Spanish asset managemnet firm Aviva Gestión, an affiliate of the British insurer Aviva, on Tuesday, 24 March announced that it has recruited Rodrigo Utrera Hernandez as an equity manager. Hernandez spent most of his career at Belgravia Capital, where he most recently served as senior equity manager. He has over 10 years of experience, with specialisations in the energy, commodity and industrial sectors. The announcement comes at a time when the asset management firm is planning to accelerate its commercial strategy on the Spanish market. With this in mind, Aviva Gestión would like to strengthen its positions in all distribution channels, aimed both at retail and at institutional investors. Therefore, the asset management firm has announced its plans to the Spanish regulator, the CNMV, to sell its funds via the Aviva Vida y Pensiones network. For institutionals, Aviva Gestión has signed a distribution agreement with the Selinca company (Seleccion e Inversion de Capital Global S.A.), an independent agency specialised in investment advising and fund selection and analysis.

Le Premier ministre chinois Li Keqiang a demandé au FMI d’inclure le yuan dans son panier de devises servant à calculer les Droits de tirage spéciaux (DTS). La valeur du DTS est actuellement déterminée par rapport au dollar, à l’euro, à la livre et au yen. Le FMI doit procéder cette année à une révision de ce panier. La Chine poursuit ainsi l’ouverture de son secteur financier et cherche à gagner une place de premier rang dans le système monétaire international.

La croissance de l’activité industrielle dans le secteur privé s’est accélérée plus nettement qu’attendu en mars, selon les enquêtes mensuelles de Markit auprès des directeurs d’achats européens. L’indice PMI «flash» composite a atteint 54,1 contre 53,3 en février, soit son plus haut niveau depuis mai 2011. En revanche, le PMI composite français ressort à 51,7. Pour le seul secteur manufacturier, le PMI «flash» de la France n’est que de 48,2 (contre 47,6 en février).

L’indice de confiance du consommateur dans la zone euro a rebondi plus qu’attendu en mars, à -3 contre -6,7 en février, selon la première estimation publiée lundi par la Commission européenne. Les économistes interrogés par Reuters prévoyaient en moyenne une amélioration plus limitée, à -5,95.

L’inflation britannique est tombée à zéro en février selon les résultats publiés hier par l’Office national des statistiques (ONS). Il s’agit d’une première depuis le début de la série statistique en 1989. Le fait que l'évolution des prix s'éloigne un peu plus de l’objectif d’une hausse de 2% que s’est fixé la Banque d’Angleterre devrait alimenter les spéculations sur l'évolution future de la politique monétaire du Royaume-Uni.

Les ventes de logements neufs aux Etats-Unis ont atteint en février leur plus haut niveau depuis sept ans, grâce à une hausse mensuelle de 7,8%, selon le département du Commerce. Les reventes ont elles moins rebondi que prévu, 1,2% en février, en raison d’une poursuite de la pénurie de biens, laissant présager un printemps difficile pour le secteur. Les mises en chantier ont chuté de 17%, alors que les dépenses de construction ont augmenté de 3%.

Le Trésor espagnol a réalisé mardi la troisième émission d’obligations indexées sur l’inflation de son histoire, à maturité 15 ans, après les deux premières opérations à 5 et 10 ans. Les 3,5 milliards d’euros de titres ont été placés à 138 points de base en-dessous du rendement nominal de référence, faisant ressortir un rendement réel de 0,354%.

La Grèce se trouvera à court de liquidités le 20 avril prochain si elle ne reçoit pas d’ici là de nouvelle aide de la part de ses créanciers, croit savoir Reuters. Le pays a actuellement recours à des emprunts auprès d’organismes publics pour éviter la faillite. Le gouvernement a promis de présenter une liste de réformes structurelles, conformément à l’accord conclu le 20 février à Bruxelles, afin d’obtenir une prolongation de quatre mois de l’aide internationale.

Malgré le départ de dix banquiers privés en 2014 et des turbulences à sa tête, le groupe boucle l'exercice avec une collecte nette positive.

Dans son rapport annuel, la FCA cible notamment les commissions des sociétés de gestion d'actifs et les risques entourant les dark pools.

L'Agence France Locale a levé 750 millions d'euros à 7 ans avec une marge de 22 points de base au-dessus de l'OAT.

SMA Gestion complète le podium de l'Alpha League Table 2015. Le classement révèle de fortes disparités et un exercice 2014 plus compliqué.

La société de conseil en restructuration a décidé de lancer une activité de gestion, baptisée A&M Investment Management, révèle un responsable de l’activité interrogé par le Wall Street Journal. L’idée a vu le jour suite à l’expérience accumulée par Alvarez & Marsal à l’occasion de la gestion des actifs de Lehman Brothers, la banque d’investissement tombée en faillite en 2008.

Alors qu'il visait 25 millions d'euros, le gérant alternatif a dû batailler l’an dernier pour faire progresser son profit de 17%, à 18,8 millions.

La nouvelle agence de financement des collectivités locales a émis 750 millions d’euros à 7 ans avec une marge de 22 points de base au-dessus de l’OAT. Elle devrait être en mesure d’accorder les premiers prêts aux collectivités qui sont ses actionnaires à partir du mois d’avril.

La banque devrait placer la première titrisation de ce type depuis le début de la crise, d'un montant de 175 millions d'euros.

L’institution a procédé à 5,7 milliards d’euros de rachats d'emprunts d'Etat et 1,4 milliard de titres supranationaux depuis le début du QE.

Le 18 juin 2015 se tiendra la première cérémonie de remise de prix de la distribution de fonds et de la sélection de gérants. Rendez-vous sur coupoles.distribinvest.com pour vous inscrire !

Patrick Cauwert, CEO et porte-parole de Feprabel, fédération des courtiers en assurances et des intermédiaires financiers de Belgique, était invité à la convention annuelle de la Chambre Nationale des CGP pour présenter les évolutions réglementaires qui ont fortement impacté leur pratique professionnelle au quotidien.

Nicole Kolp, cogérante et associée du cabinet de conseil en gestion de patrimoine IPCA, a dévoilé à H24 Finance ses fonds préférés dans les catégories action, flexible et obligations.