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20/09/2012
Fonds

Augmentation de 4,8 milliards de francs des actifs des fonds de placement en août

Les actifs sous gestion des fonds de placement suisses recensés dans les statistiques de Swiss Fund Data SA et Lipper s'élevaient à 699 milliards de francs suisses fin août 2012, soit 4,8 milliards de francs de plus que le mois précédent, selon un communiqué publié le 19 septembre par l’Association suisse des fonds de placement (SFA). Sur ce total, 273,3 milliards de francs figuraient dans des fonds dédiés aux investisseurs institutionnels.La collecte nette s’est élevée à 2,2 milliards de francs. Les souscriptions ont été investies en majorité dans les fonds obligataires (+2,3 milliards de francs suisses), devant les fonds monétaires (+498 millions de francs) et les fonds de matières premières (366 millions de francs).En revanche, les fonds stratégiques de placement ont subi des rachats pou un montant de 179 millions de francs, de même que les fonds en actions pour un montant de 755 millions de francs, notamment les classes de fonds en actions UK, USA, Global et Emerging Markets Global.
Fonds
20/09/2012

Pimco élargit son offre en Belgique

Pimco lance quatorze fonds de la famille «Global Investment Series» (GIS) sur le marché retail belge, rapporte Investment Europe.Dans le cadre de cette initiative, Pimco, qui espère profiter de sa présence sur le marché institutionnel belge, inclut une stratégie de partenariat avec des intermédiaires pour faciliter la distribution et la croissance des ventes. Les fonds proposés, enregistrés à Dublin et conformes au format Ucits, comprennent notamment le Total Return Bond piloté par Bill Gross (22,5 milliards d’euros d’actifs sous gestion), le Global Multi-Asset Bond géré par Mohamed El-Erian (2,8 milliards d’euros) et le Diversified Income Fund d’Eve Tournier (5,6 milliards d’euros).
20/09/2012
Fonds

Les actifs des boutiques et hedge funds australiens totalisent plus de 200 milliards de dollars

Soutenus par les allocations des fonds de pension, les hedge funds et boutiques de gestion australiennes affichent plus de 200 milliards de dollars australiens d’actifs sous gestion, très précisément 208,4 milliards de dollars australiens, soit près de 220 milliards de dollars américains, rapporte Asian Investor. Ce total représente 17% environ des 1.190 milliards de dollars australiens de l’ensemble du secteur australien de la gestion d’actifs.Sur ce total, les actifs des hedge funds au nombre de 63 s'élèvent à 42,8 milliards de dollars australiens, selon des données communiquées par le Triple A Partners/Basis Point Consulting Australian Hedge and Boutique Fund Directory.Les cinq principaux hedge funds basés en Australie sont Platinum Asset Management avec 14 milliards de dollars australiens d’actifs sous gestion, Blackrock Investment Management Australia (5,8 milliards de dollars), GMO Australia’s Systematic Global Macro Trust (1.9 milliard de dollars australiens), Macquarie Group’s MQ Specialist Investment Management (1.6 milliard de dollars australiens) and PM Capital (1.6 milliard de dollars australiens).Dans le secteur des boutiques de gestion, on compte 102 sociétés de gestion indépendantes à la tête de 165,6 milliards de dollars australiens, pour l’essentiel investis dans des stratégies long/only.
Fonds
20/09/2012

Liontrust recrute une gérante

Liontrust annonce le recrutement de Samantha Gleave au poste de gérante au sein de son équipe Cashflow Solution. Cette équipe pilote notamment les fonds Liontrust European Growth, European Absolute Return, Income et European Absolute Alpha.
20/09/2012

James Hambro recrute un cadre d'UBS WM

Après avoir fusionné en août avec Calkin Pattinson & Company pour se préparer à l’introduction de la Retail Distribution Review, James Hambro & Partners vient d’annoncer le recrutement de James Horniman comme associé, rapporte Investment Europe. L’intéressé était responsable de plus de 500 millions de livres comme team leader et gérant de portefeuilles sur le marché britannique chez UBS Welath Management, où il travaillait depuis 2007.
20/09/2012

Invesco adopts Eagle's performance measurement system for Europe

Invesco has now fully implemented Eagle Investment Systems’ performance measurement solution to manage its retail and institutional business in Continental Europe, leveraging the existing production instance of the Eagle platform in North America, BNY Mellon said in a press release. Eagle is a subsidiary of BNY Mellon. As a result of this deployment, Invesco now has a consolidated view of its business across North America and Continental Europe.The investment manager is also utilizing Eagle’s data mart for enhanced reporting across performance, holdings, transactions, fund rankings/ratings, and risk metrics. Additionally, the Eagle platform helps support Invesco’s client reporting, P&L reporting and fact sheet development for their Paris and Frankfurt businesses.
20/09/2012

Generali reshuffles its asset management business in Europe

Generali Investments France last week announced in a note to investors that it is reorganising its asset management activities in Europe, in an operation which has been approved by the relevant regulatory authorities. Generali Investments Frence will merge its activities eligible for the European passport with Generali Investments Italy S.p.A. Società di gestione del risparmio, an Italian-registered asset management firm domiciled in Trieste. From 1 October, the asset management firm will become known as Generali Investments Europe SpA Società di gestione del risparmio, and will have a French affiliate, which will substitute for Generali Investments France in all relationships existing prior to that date. The UCITS-compliant security investment organisms will be transferred to Generali Europe Investments, while non-UCITS-compliant funds will on 19 September 2012 be transferred to Generali Investments Opera, a new French-registered asset management firm which received a license from the AMF on 13 September.
20/09/2012

Source consolidates its position

The ETF asset management firm Source, launched in April 2009, has GBP11.5bn in assets, and claims second place among asset management firms in Europe for net inflows in the first eight months of this year, with EUR2.4bn, the firm’s CEO, Ted Hood, has said at a breakfast in Paris.Among the products that Michael John Lytle, managing director and head of sales, highlights are a product based on a hedge fund from Man-GLG, which has already seen inflows of EUR620m, the physical gold ETC, with over USD3bn in assets, the volatility fund (USD620m), the Russian market RDX (USD500m) and the Short Term High Yield fund launched with Pimco, which has attracted USD200m in assets.The product range now includes about 90 products, including equity, bond and volatility ETFs. 40% of these rely on physical replication, while the other 60% use synthetic replication. All of the major market segments are now covered. Source is highly circumspect about its plans for new products. It claims that discretion is the best policy in this area, due to the rapidity with which good ideas can be copied.Although Hood has little to say about new projects, he does suggest that there may be an evolution in the direction of purely actively-managed ETF funds, similar to the bond product with Pimco which is already available. There may also be a product specialised in European volatility in the works.
20/09/2012

Aviva Investors liquiderait aussi son activité Reit hors Asie

Faute d’une taille suffisante de ce pôle, le gestionnaire britannique Aviva Investors a indiqué dans une note aux clients qu’il envisage de liquider son activité global real estate securities, y compris le Global REIT fund géré par Paul van de Vaart, rapporte Investment Week. Cela pourrait se traduire par la fermeture des bureaux de New York et de Londres. En revanche, Aviva Investors se focalise sur l’Asie et l’équipe immobilière asiatique sera maintenue.
20/09/2012

Sarasin & Partners recruits three from GAM

Sarasin & Partners has recruited three people from GAM Asset Management: Charles Smyth-Osbourne, Duncan Gordon and Hames Hutton, FundWeb reports. They join the team dedicated to private clients.
20/09/2012

Aviva Investors plans to close REIT activity

Aviva Investors is proposing to close its Global Listed Real Estate Securities activity, which manages publicly-traded real estate, Investment Week reports. The group has placed all of the entity’s funds under review, and has announced that the New York and London offices will be closed.
20/09/2012

Schroders completes acquisition of 25% in Axis Asset

Further to the announcement on 27 April 2012, Schroders has announced that following receipt of regulatory approvals its wholly owned subsidiary, Schroder Singapore Holdings Private Limited, has completed the acquisition of 25 per cent. of the share capital of Axis Asset Management Company (Axis AMC), the Indian asset management business of Axis Bank Limited.Axis AMC has assets under management of USD2.3bn.
20/09/2012

Jupiter AM recruits a former Schroders head

Jupiter Asset Management has appointed Andrew Clark as head of private clients and charities.Andrew Clark, who has 17 years’ experience in the wealth management sector, will join Jupiter in early December 2012 from Schroders where he has worked as head of business development for the private banking division since April 2010.
20/09/2012

James Hambro recruits an executive from UBS WM

After merging with Calkin Pattinson & Company in August in order to prepare for the rollout of the Retail Distribution Review, James Hambro & Partner has announced the recruitment of James Horniman as a partner, Investment Europe reports. Horniman had been in charge of more than GBP500m in assets as team leader and portfolio manager for the British market at UBS Wealth Management, where he had worked since 2007.
20/09/2012

Liontrust recruits a manager

Liontrust has announced the recruitment of Samantha Gleave as manager in the Cashflow Solution team. The team manages the Liontrust European Growth, European Absolute Return, Income and European Absolute Alpha funds, among others.
20/09/2012

Julius Baer shareholders approve capital increase

Julius Baer has taken a further step towards its acquisition of the wealth management activities of Merrill Lynch outside the Unuted States from Bank of America. At an extraordinary general shareholders’ meeting in Zurich, shareholders in the Zurich-based private bank approved a capital increase for this purpose, according to a statement released on 19 September. The owners of the wealth management firm on Wednesday agreed to constitute capital totalling up to CHF500m, via an issue of a maximum of 37.5 million new shares. These shares will be used exclusively to partially finance an acquisition of the wealth management activities of Merrill Lynch outside the United States and Japan. Of the 37.5 million newly-issued securitie, up to 7.5 million share will be issued or transferred to Bank of America (BofA), in keeping with an agreement for the transaction. According to the most recent estimates, BofA would hold a total stake in Julius Baer of between 2% and 4% following the integration of activities. The capital increase is to be held in October.
20/09/2012

Lazard AM opens an office in Zurich

Lazard Asset Management is this week opening a customer service office in Zurich, Agefi Switzerland reports. The reports have been confirmed to Le Temps by Andreas Hübner, director at Lazard Asset Management. There are two motives for the decision: on the one hand, changes in the Swiss banking market, including opportunities for asset management boutiques thanks to an increase in open architecture, and on the other, Lazard Asset Management is taking advantage of its specialisation in certain investment categories. Lazard AM says that it has EUR108bn in assets under management, of which 30% are on emerging markets.
20/09/2012

Director appointed at Cantonal Bank of Basel

The Cantonal Bank of Basel has announced in a statement released on 19 September that it has appointed René Bürgisser as director of Private Banking activities in Zurich. Bürgisser will begin in his new role by 1 April 2013 at the latest. Bürgisser has spent 17 years in various positions at Credit Suisse, and was director of the Banque Cial affiliate in Zurich. Since 2007, he has had a seat on the board at AKB Privatbank Zürich.
20/09/2012

Pimco extends its range in Belgium

Pimco is launching fourteen funds of the “Global Investment Series” (GIS) family on the Belgian retail market, Investment Europe reports. As a part of the initiative, Pimco, which is hoping to take advantage of its presence on the Belgian institutional market, is including a strategy of partnership with intermediaries to ease distribution and growth in sales. The funds on offer, registered in Dublin and compliant with UCITS, include the Total Return Bond fund, managed by Bill Gross (EUR22.5bn in assets under management), the Global Multi-Asset Bond fund, managed by Mohamed El-Erian (EUR2.8bn), and the Diversified Income Fund from Eve Tournier (EUR5.6bn).
20/09/2012

Jupiter Merlin range gets conservative addition

UK-based fund manager Jupiter announced it will launch the Jupiter Merlin Conservative Portfolio on 28th September 2012 to meet demand for a more cautious Jupiter Merlin range of multi-manager portfolios. The new fund, which has FSA approval, will sit within the IMA «Mixed Investment 0-35% shares» category.The Conservatice Portfolio will be managed by the Jupiter Independent Funds team comprising John Chatfeild-Roberts, Peter Lawery, Algy Smith-Maxwell, Amanda Sillars and David Lewis. The team currently manage GBP7.5bn of assets in four funds: Jupiter Merlin Income, Jupiter Merlin Balanced, Jupiter Merlin Growth and Jupiter Merlin Worldwide.
20/09/2012

Pictet recruits for the Nordic market

Pictet has hired Elisabeth Jädal as Nordic director, the Swedish website Fondsbranschen reports. Alongside Micael Haeglin, who was recruited in May 2011, she will strengthen the Swiss firm’s presence serving institutional investors. Jädal previously worked at GAM.
20/09/2012

Carmignac Gestion recruits a new country head for Italy

Giorgio Ventura joined the Italian sales team of Carmignac Gestion as head of country Italy on September 17th. His principal objective will be to further develop the firm’s relations with financial institutions and intermediaries in Italy under the responsibility of Davide Fregonese, global head of sales and marketing.Giorgio Ventura joins from Eurizon Capital (Intesa San Paolo Group) in Milan, where he was co-head of sales and marketing.
20/09/2012

Assets at Australian boutiques and hedge funds total over AUD200bn

Australian hedge funds and asset management boutiques, supported by allocations from pension funds, have over AUD200bn in assets under management – to be more precise, AUD208.4bn, or nearly USD220bn, Asian Investor reports. This total represents about 17% of the AUD1,190trn in total in the Australian asset management sector. Of this total, assets at 62 hedge funds total AUD42.8bn, according to statistics from the Triple A Partners/Basis Point Consulting Australian Hedge and Boutique Fund Directory. The top five hedge funds based in Australia are Platinum Asset Management, with AUD14bn in assets under management, BlackRock Investment Management Australia (AUD5.8bn), GMO Australia’s Systematic Global Macro Trust (AUD1.9bn), Macquarie Group’s MQ Specialist Investment Management (AUD1.6bn), and PM Capital (AUD1.6bn). In the asset management boutique sector, there are 102 independent asset management firms, with AUD165.6bn in assets, mostly invested in long-only strategies.
20/09/2012

Edhec: two hedge fund strategies show losses in August

Dedicated short bias and CTA Global were the only strategies to show losses last month, out of the 13 strategies monitored by the Edhec Risk Institute, with losses of 3.24% and 0.90%, respectively. The best returns were for event-driven, with gains of 1.38%, and distressed securities (+1.21%), followed by long/short equity (+1.02%).The best strategy since the beginning of the year is convertibles arbitrage, with gains of 6.7%, followed by distressed securities (+6.3%). Only dedicated short bias shows losses in the first eight months of the year, with losses of 10.9%.
20/09/2012
Gestion d'actifs

La CAPSSA s'est positionnée sur les marchés émergents

Jean Pierre Mottura, directeur général de la CAPSSA à la rédaction de www.institinvest.com : « Bien que 80,8% du portefeuille soit investi dans des produits monétaires, notre gestion c??ur-satellite nous permet d’avoir de fortes convictions sur les 19,2% restant. Avec une approche macro économique, nous nous sommes positionnés, entre autres, sur les pays émergents qui représentent un relai de croissance que l’on ne retrouve plus en Europe. La Chine, l’Inde mais aussi la Turquie sont des pays dans lesquels nous croyons. Nos convictions sont bonnes, à titre d’exemple depuis le début de l’année, notre investissement sur la Turquie affiche un gain de 32% au 28 juin. Cependant, nous gérons en premier lieu le risque, et ensuite la performance, c’est pourquoi ces produits restent satellites. A titre d’information, la volatilité annualisée globale du portefeuille oscille autour de 1,53%, avec un c??ur monétaire à 0,10%. »
Gestion d'actifs
20/09/2012

Lombard Odier launches two bond funds in Italy

Lombard Odier has unveiled two new bond funds for the Italian market in Milan, the Italian website Bluerating reports. They are the LO Funds Global Government Fundamental and LO Funds Global BBB-BB Fundamental funds.
20/09/2012

EFG AM plans to launch an Asia-Pacific bond fund

EFG Asset Management will soon be launching a bond fund dedicated to Asia-Pacific, Citywire reports. The new offering, the New Capital Asia Pacific Bond fund, follows a series of recruitments and the launch of a fund dedicated to Chinese equities, the New Capital China Equity fund.
20/09/2012

Pioneer Investments launches an emerging market high yield bond fund

Pioneer Investments has announced the launch of the Pioneer Funds – Emerging Markets Corporate Bond High Yield fund. The sub-fund invests primarily in debt securities and instruments backed by debt securities denominated in US dollars or currencies of OECD member countries, issued by companies rated below investment grade, with their headquarters or primary activities in emerging markets, or in instruments of this type whose credit risk is related to emerging markets. Greg Saichin, director of high yield and emerging market bonds at Pioneer Investments, is lead manager of the fund.CharacteristicsA share class: LU0765561054Front-end fee: 2.50%Ongoing fees: 2.00%C share class: LU0765561997Front-end fee: 0.00%Ongoing fees: 1.21%
20/09/2012

HSBC releases Indian bond fund in Germany

The India Fixed Income fund, a sub-fund of the HSBC GIF Sicav (ISIN Code: LU0780248950), has received a sales license for Germany. The product invests in emerging market bonds (see Newsmanagers of 20 August), HSBC Global Asset Management (Deutschland) GmbH states.

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