Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
17/06/2013

BNP Paribas: creation of an external IFA network sustains opposition

P { margin-bottom: 0.08in; } Labour unions at BNL (BNP Paribas group) have expressed their opposition to an “external” network of IFAs in Italy, Bluerating reports. The creation aims to recruit advisers with a single-provider agency contract and not a banking contract.
17/06/2013

State Street teams up with Standard Bank for transition management

P { margin-bottom: 0.08in; } The US firm State Street Corporation has announced that with Standard Bank South Africa (in which the Chinese firm ICBC controls a 20.1% stake), it has signed an agreement to jointly provide transition management services in sub-Saharan Africa. Clients of Standard Bank will have access to all transition management and portfolio solutions services of State Street. Currently, Standard Bank provides custody services in 15 sub-Saharan countries, representing administered assets of over USD450bn.
17/06/2013

In 2012, Netherlands pension funds invested less in ETFs

P { margin-bottom: 0.08in; } According to the most recent statement from the Bank of the Netherlands (De Nederlandsche Bank), Dutch pension funds in 2012 invested only EUR1.4bn in ETPs, compared with EUR1.9bn the previous year, while retail investments increased to EUR2.7bn from EUR2.1bn. Dutch investors prefer foreign ETPs, in which they invested EUR4.1bn last year, compared with EUR3.9bn the previous year, with an overall preference for physical replication products.As of the end of December, Euronext Amsterdam listed 150 ETPs, but the Dutch ETP market as of the end of the year represented only EUR137m, compared with EUR70m one year earlier.
17/06/2013

Qatari Diar fund acquires W hotel in Barcelona

P { margin-bottom: 0.08in; } According to sources familiar with the matter, Cinco Días, reports, the Qatari Diar fund will soon acquire the W hotel in Barcelona, known as Hotel Vela, which is owned 25% each by FCC, OHL, Comsa Emte and Grupo Godia, for EUR200m.The property, with 473 rooms and suites, is operated by the US chain Starwood, and opened in 2009. Its construction by Ricardo Bofill cost EUR260m.In Spain, Qatari Diar already owns Marina Tarraco, a leisure and luxury yacht complex located in Tarragon. It also owns several other hotels operated by Starwood.
17/06/2013

Creation of new hedge funds accelerated in first quarter

P { margin-bottom: 0.08in; } The number of new hedge funds launched in first quarter 2013 totalled 297 funds, according to the most recent edition of the HFR Market Microstructure Industry Report. Creations of hedge funds thus show their fourth consecutive increase in a quarter. Liquidations of hedge funds have meanwhile fallen to 196 in first quarter, compared with 211 and 238 in the two previous quarters. Creations of hedge funds dedicated to equities led launches in first quarter (132), followed by macro funds (93) and relative value arbitrage funds (26). The HFRI Fund Weighted Composite index gained 3.6% in the quarter, and 5.3% for the twelve months to the end of March 2013.
17/06/2013

Departure of a manager from Vontobel

P { margin-bottom: 0.08in; } The fund manager Massimiliano Gnesi will be leaving Vontobel, where he had managed the Vontobel Fund Absolute Return Bond strategy since the end of 2012, Citywire reports. Paul Nicholson has been appointed as principal manager of the fund.
17/06/2013

TCMG acquires stake in Dynagest

P { margin-bottom: 0.08in; } The Zurich-based TCMG Asset Management, an affiliate of Notenstein Private Bank and thus of the Raiffeisen group, is continuing to deploy a multi-boutique strategy, and as part of this has acquired a minority stake in the Geneva-based firm Dynagest SA, Beat Whitmann, CEO of TCMG, has announced.Dynagest, founded in 1993, itself controls a majority stake in the Luxembourg-based Dynamic Asset Management Company.TCMG’s investment in Dynagest marks a new stage in its cooperation with Dynagest SA and Dynapartners AG in the areas of development of financial products and fund administration in Luxembourg, a press release says.
17/06/2013

Former head of LDI at Axa IM joins Ashburton

P { margin-bottom: 0.08in; } The former head of liability-driven investment (LDI) at Axa Investment Managers, Shalin Bagwan, has been recruited by Ashburton Investments, the new asset management firm of the South African financial services group FirstRand, Financial News reports. He is appointed head of solutions for institutions.
17/06/2013

Sale of WCAM brings gains for Walker Crips Group

P { margin-bottom: 0.08in; } For the fiscal year ending on 31 March, Walker Crips Group (WCG) has posted pre-tax profits of GBP9.1m, compared with GBP0.6m, largely due to a one-time capital gain of GBP11.7m, from the sale of Walker Crips Asset Management (WCAM) to Liontrust Asset Management (see Newsmanagers of 14 March 2012).As of 31 March, total assets under management or administration were up by 43% to about GBP2bn.
17/06/2013

Mirabaud recruits a global equity team

P { margin-bottom: 0.08in; } Mirabaud Asset Management has recruited Anu Narula to lead a team responsible for global equities, which two others will soon join. Narula joins from Axa Framlington, where he had served as co-manager of the Global Opportunities fund and manager of the Global High Income fund. At Mirabaud AM, where he will work from 24 June, he will take over management of existing products and mandates, and will develop new investment solutions in the area of high dividends.The two additional members of the team will arrive during the year. The recruitments come as part of the development of the asset management team at Mirabaud AM in London. Several professionals have already joined the Swiss firm, including Dan Tubbs, formerly of BlackRock, who is appointed as head of equities for Global Emerging Markets, Andrew Lake, formerly of Aviva, who becomes head of high yield bonds, and Pierre Pinel, from BNP Paribas.
17/06/2013

UK investors organise to limit corporate excesses

P { margin-bottom: 0.08in; } Schroders, Legal & General Investment Management, and charities and pension funds have formed a working group which is studying the creation of an Investor Forum, which would bring together the 15 largest shareholders in the United Kingdom, and would seek to limit excesses by boards of directors, the Financial Times reports The initiative is one of 17 recommendations made by professor Kay in his report on equities. The forum would meet once per month.
17/06/2013

Growth of 41% in twelve months for assets at Polar Capital

P { margin-bottom: 0.08in; } Assets under management at the British firm Polar Capital have risen by 41% in the period to the end of March 2013, to a total of USD7.2bn, compared with USD5.1bn one year previously. Net inflows totalled USD1.61bn, while positive market and currency effects for their part represented slightly over USD500m. Pre-tax profits have risen to GBP15.3m, compared with GBP9.6m previously, an increase of nearly 60%.
17/06/2013

Chris Rice leaves Cazenove Capital Management

After more than ten years with Cazenove Capital, Chris Rice confirms he will depart Cazenove Capital Management, which is being bought by Schroders. «He will work closely with the team to ensure a thorough handover of portfolios and clients before his departure in July 2013,» according to a press statement. He has no immediate plans, but it is his intention to take a break. Steve Cordell, manager of the Cazenove Pan Europe Fund, will assume responsibility for the Cazenove European Fund and the Cazenove European Equity (ex UK) Fund. The Cazenove European Income Fund will continue to be managed by James Sym, current co-manager. Management responsibilities of the European funds will take effect immediately. Julie Dean, director and fund manager at Cazenove Capital will head up the business cycle team. Chris Rice comments «After 22 years in the industry, I feel that I need a break and the transaction has crystallised those thoughts. It would be unfair on all concerned not to be open about this. I am very supportive of the transaction and have a great amount of respect for Schroders: I see it as a natural home for the team. Steve Cordell will make an excellent manager for the funds, we have worked together for 15 years, both at Cazenove Capital and HSBC, and I will retain a significant investment in them».
17/06/2013

Scandinavian TPM Intervalor recruits two

Intervalor, a third party marketer of international asset management products in the Nordic region, is strengthening its board of directors with two members; Lars Nyberg and Benny Karlsson. At the same time Lars Spongberg will be leaving the board after 12 years.Lars Nyberg brings experience from his 13 years as deputy governor of the Swedish Central Bank (Riksbanken), as CFO at Swedbank and as head of Handelsbankens investment bank.Benny Karlsson joins from Vattenfall Pension Foundation where he has been the CEO since its creation.Intervalor AB was founded in 1992 to bring international asset managers’ products and services to the Nordic market place and to complement them by local service. At present, Intervalor represents the following asset management companies, each of which has been chosen for their specific expertise in one or several asset classes: Banque de Luxembourg Investments, BPT, Brown Advisory, Craton Capital, Ermitage, Global Evolution, IS Asset Management, LVD Investment Advisors et SG Alpha.
17/06/2013

Commerzbank sells Galileo tower in Frankfurt

P { margin-bottom: 0.08in; } For an undisclosed amount, the German firm IVG Immobilien, which administers assets of EUR21.1bn, has acquired the Galileo office tower in Frankfurt (136 metres, 40,000 square metres), constructed in 2004, as part of a club deal with South Korean institutional investors.The property, originally the second Frankfurt headquarters of Dresdner Bank, was acquired by Commerzbank in 2008. The German bank will continue to occupy the property on a long-term lease.
17/06/2013

Ashburton launches an energy fund

P { margin-bottom: 0.08in; } The Jersey-based asset management firm Ashburton has launched its second Luxembourg fund, Ashburton Global New Energy fund, Citywire global reports. The fund, managed by Richard Robinson, will invest in companies in the oil, gas, coal, renewable and other energy sectors, without geographical constraints.
17/06/2013

Axa PE en négociations exclusives pour racheter Trescal

Axa Private Equity a annoncé être entré en négociations exclusives avec les fonds d’investissement 3i et TCR Capital en vue du rachat de Trescal, société française spécialisée dans la métrologie. La filiale de capital investissement de l’assureur Axa explique qu’elle entend reprendre 82% du capital de la société Trescal, valorisée à 250 millions d’euros environ. Détenu depuis 2010 par 3i et TCR Capital, Trescal a réalisé un chiffre d’affaires de 157 millions d’euros en 2012.
17/06/2013

La banque centrale indienne maintient ses taux

La banque centrale indienne a laissé ses taux d’intérêt inchangés après trois baisses successives ces derniers mois, en mettant en avant l’augmentation des risques inflationnistes liés à la dépréciation de la roupie et à l’augmentation des prix alimentaires. La Reserve Bank of India (RBI) a également lancé un appel à la vigilance face aux incertitudes entourant la croissance mondiale, évoquant les risques d’une inversion des flux de capitaux vers les marchés émergents.

Sujets d'actualité

Tous les sujets