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02/02/2012

Résultats en baisse pour la gestion d'actifs de Nomura

Le bénéfice avant impôts du pôle gestion d’actifs de Nomura s’est inscrit à 4,2 milliards de yen au troisième trimestre de l’exercice 2011/2012, en recul de 10% par rapport au trimestre précédent et de 24% par rapport au troisième trimestre de l’exercice précédent. Sur neuf mois, le bénéfice avant impôts a toutefois progressé de 19,4% par rapport à la période correspondante de l’exercice précédent à 16,4 milliards de yen.Les actifs sous gestion ont subi un très léger recul par rapport au deuxième trimestre de l’exercice pour s'établir à 22.600 milliards de yen (un peu plus de 224 milliards d’euros) au 31 décembre 2011, grâce à une collecte nette de 96,8 milliards de yen dans les ETF qui a compensé les rachats observés par ailleurs.
02/02/2012

Société Générale Private Banking (Suisse) nomme un directeur à Lugano

Société Générale Private Banking (Suisse) SA vient de nommer Marco Tini au poste de directeur général exécutif de sa filiale basée à Lugano. Agé de 40 ans, Marco Tini succède, à compter du 1er janvier 2012, à Jean-Marie Simond, qui fait valoir ses droits à la retraite. Celui-ci devient cependant vice-président du conseil d’administration de Société Générale Private Banking (Lugano-Svizzera) SA, précise un communiqué.Avant de rejoindre Société Générale Private Banking (Lugano-Svizzera) SA en 2006, en tant que responsable juridique et compliance puis comme directeur général adjoint de la banque à partir de 2010, Marco Tini a exercé plusieurs postes de responsabilité auprès de Crédit Suisse Private Banking Lugano.
02/02/2012

A Genève, l'asset management est devenu la priorité

Edouard Cuendet est secrétaire général du Groupement genevois des banquiers privés. Dans un entretien à L’Agefi Hebdo, il souligne que la place de Genève reste attractive mais qu’elle subit une pression forte due au franc fort, qui fait fondre les encours, la volatilité des marchés, qui induit une baisse du volume des transactions et, enfin, la vague réglementaire, qui génère une forte hausse des coûts. Malgré ces défis , «les banques continuent d’embaucher», souligne-t-il. «Mais les profils recherchés peuvent changer. Les spécialistes des marchés émergents, du Moyen-Orient et de la gestion alternative sont très demandés. L’asset management est devenu la priorité», insiste Edouard Cuendet.
02/02/2012
Fonds

State Street fait coter 16 ETF en Suisse

SIX Swiss Exchange a admis à la cotation le 31 janvier 16 ETF irlandais de la marque SPDR de State Street Global Advisors (SSgA) dont deux sur des indices S&P, sept sur des indices Barclays Capital et cinq sur des indices MSCI. Dans tous les cas, le teneur de marché est la Commerzbank. Les commissions de gestion sont échelonnées entre 0,15 % et 0,65 %.Ces fonds sont les suivants :SPDR Barclays Capital Emerging Markets Local Bond ETF, chargé à 0,65 %SPDR Barclays Capital Euro Aggregate Bond ETF (0,20 %)SPDR Barclays Capital Euro Corporate Bond ETF (0,20 %)SPDR Barclays Capital Euro Government Bond ETF (0,15 %)SPDR Barclays Capital Sterling Aggregate Bond ETF (0,20 %)SPDR Barclays Capital US Aggregate Bond ETF (0,20 %)SPDR Barclays Capital US Treasury Bond ETF (0,15 %)SPDR MSCI ACWI ETF (0,50 %)SPDR MSCI ACWI IMI ETF (0,55 %)SPDR MSCI EM Asia ETF (0,65 %)SPDR MSCI EM Europe ETF (0,65 %)SPDR MSCI EM Latin America ETF (0,65 %)SPDR MSCI Emerging Markets Small Cap ETF (0,65 %)SPDR S&P Emerging Markets Dividend ETF (0,65 %) etSPDR S&P US Dividend Aristocrats ETF (0,35 %)
Fonds
02/02/2012

Liontrust continue d'engranger des souscriptions

Pour octobre-décembre, Liontrust déclare des souscriptions nettes de 15 millions de livres, ce qui porte le total de neuf premiers mois de l’exercice au 31 mars à 74 millions de livres. Désormais, Liontrust a enregistré six trimestres consécutives de rentrées nettes.En janvier 2012, le gestionnaire britannique a également enregistré des souscriptions nettes de 15 millions de livres. L’encours au 31 décembre ressortait à 1.364 millions de livres contre 1.192 millions fin septembre ; il a atteint 1.409 millions fin janvier 2012, passant au-dessus de 1,4 milliard pour la première fois depuis juin 2009.Par ailleurs, Liontrust précise que le lancement du Liontrust Asia Income Fund (voir Newsmanagers du 18 janvier) aura lieu le 5 mars. Entre-temps, le gestionnaire britannique aura entamé avant fin février la commercialisation du fonds irlandais Liontrust European Absolute Alpha Fund, un clone du Liontrust European Long/Short Fund domicilié à Guernesey.
02/02/2012

La Caixa vend son activité de dépositaire à la CECA

Pour 100 millions d’euros, CaixaBank vend à la Confederación Española de Cajas de Ahorros (CECA) sa division de dépositaire de fonds d’investissement, de sicav et de fonds de pension individuels, rapporte Funds People.Le montant de la cession pourrait atteindre jusqu'à 50 millions d’euros supplémentaires, en fonction des performances de l’activité vendue.CaixaBank conservera la gestion et la commercialisation des produits dont l’administration et la conservation viennent d'être cédées à la CECA.
02/02/2012
Fonds

La CNMV suspend la cotation de deux ETF du BBVA

La cotation des ETF Acción Ibex 35 Inverso et Acción FTSE Latibex Brasil, tous deux des produits BBVA, a été supendue le 1er février par la CNMV du fait que la procédure de dissolution et de liquidation a été entamée, rapporte Expansión.
Fonds
02/02/2012
Fonds

East Capital lance un second fonds immobilier "Baltique"

Le suédois East Capital a annoncé le 1er février le lancement par East Capital Real Estate AS du East Capital Baltic Property Fund II, son second fonds immobilier spécialiste de l’immobilier commercial, mais aussi des actifs logistiques et de l’immobilier de bureau dans des pays riverains de la Baltique, notamment en Estonie. East Capital Explorer s’est engagé à fournir 10 millions d’euros pour ce nouveau produit dont l’objectif de collecte est de 40-50 millions d’euros.Le East Capital Baltic Property Fund II, un fonds fermé au statut de FIS luxembourgeois, s’adresse aux investisseurs professionnels et institutionnels. La période d’investissement est fixée à 5 ans et la commission de gestion se situe à 2 %. Le fonds a une échéance à 7 ans, prorogeable une fois de trois ans au maximum.
Fonds
02/02/2012
Fonds

amLeague : dix sociétés de gestion se lancent à l'international

Lancé depuis le 31 décembre 2011, le mandat «Global Equities» d’amLeague compte dix sociétés de gestion : Edmond de Rothschild AM (avec pour gérant Thomas Gerhardt), AllianceBernstein (gestion collégiale), Petercam (Bart Baetens), Roche-Brune AM (gestion collégiale), ING IM (Bruno Springael), Allianz GI (Lucy Macdonald), Ecofi Investissements (Olivier Plaisant), Lombard Odier AM (gestion collégiale), SwissLife AM (Pierre Guillemin), Tobam (gestion collégiale) Par ailleurs, en termes de résultats, sur ce premier mois, Edmond de Rothschild AM figure en tête (8,27 %) devant Roche-Brune AM (6,21 %), AllianceBernstein (5,80 %), Petercam (5,05 %) et AllianzGI (4,37 %). Ces établissements sont également les seuls à battre le benchmark de la catégorie (4,25 %).
Fonds
02/02/2012
Fonds

HFT IM et GF AM lancent des fonds obligataires en RMB

HFT Investment Management et GF Asset Management ont lancé chacun un fonds obligataire libellé en renminbi à destination des investisseurs retail à Hong Kong, rapporte Asian Investor.Les deux fonds proposés par ces sociétés entrent dans le cadre des quotas accordés avec le statut d’investisseur insitutionnel étranger qualifié pour émettre en RMB (RQFII). HFT IM a obtenu un quota de 1,1 milliard de RMB, GF AM de 900 millions RMB.
Fonds
02/02/2012
Fonds

Performance record pour le fonds de pension ATP

Le fonds de pension danois ATP a déclaré le 1er février une performance record de 26 % pour 2011, soit 125 milliards de couronnes, ce qui a gonflé l’encours à 579 milliards de couronnes fin décembre contre 475 milliards douze mois auparavant.Cette performance a donné lieu à un prélèvement fiscal de plus de 18 milliards de couronnes. D’autre part, les réserves d’ATP ont pu être dotées de 4 milliards de couronnes, ce qui les porte à 74 milliards, après impôt.A fin 2011, ATP servait des prestations à 830.000 personnes, ce qui signifie qu’environ 8 retraités danois sur 10 perçoivent une rente complémentaire de la part d’ATP.
Fonds
02/02/2012

Investec products to be distributed in Germany by Sal. Oppenheim

The Cologne-based wealth management firm Sal. Oppenheim (Deutsche Bank group) has obtained exclusive rights to offer funds from Investec Asset Management in Germany, Investment Europe reports. Products from the South African/British asset management firm will be included in the OPFT fund range from March. Investec also states that it is planning to develop its own distribution in continental Europe.
02/02/2012

Successful integration of Sal. Oppenheim by Deutsche Bank

The asset and wealth management (AWM) unit of Deutsche Bank last year earned pre-tax profits of EUR767m, the bank announced on 2 February in a statement. This more than tripling of annual profits reflects the successful integration of Sal. Oppenheim and cost reduction measures, the bank says.Assets invested at the AWM unit as of 31 December totalled EUR813bn, up by EUR33bn, of which EUR28bn are in Asset Management in the strict sense.The Private Clients and Asset Management business unit (PCAM), which includes AWM, has posted record pre-tax profits of EUR2.5bn, of which EUR1.8bn were for the Private & Business Clients unit. The Deutsche Bank group has posted pre-tax profits for the year of EUR5.4bn, compared with nearly EUR4bn the previous year. Post-tax profits for the group totalled EUR4.3bn, compared with EUR2.3bn previously.
02/02/2012

F&C scales up institutional distribution in Germany

Matthias Hansmann, a client adviser at Bantleon Bank in Switzerland, is joining F&C in Frankfurt as director of institutional distribution, Das Investment reports. Hansmann will report to Claus-Dieter Heidrich, director of the Frankfurt branch.
02/02/2012

La Caixa sells its depository activities to CECA

CaixaBank has sold its investment fund, Sicav and individual pension fund depository division to the Confederación Española de Cajas de Ahorros (CECA) for EUR100m, Funds People reports. The sale price may rise by a further EUR50m, depending on the performance of the activity sold. CaixaBank will retain management and sales of products whose administration and custody will be transferred to CECA.
02/02/2012

Alternative multi-management: Rothschild & Cie Gestion makes a first acquisition

Rothschild & Cie Gestion has acquired an alternative multi-management firm, Héritage Asset Management. The firm has acquired a 100% stake in the target business, for an undisclosed amount. The move is a sign of the firm’s ambition to develop even further in this type of management.“This is a first step,” says Denis Faller, managing partner and head of multi-management activities, who has been appointed as head of the new team resulting from the merger of in-house experts and thos from Héritage AM. In other words, the asset management firm has built its capacities in this area, but is still seeking even larger acquisition targets.In practice, Héritage Asset Management will become known as Rothschild Investment Solutions. Laurent Levenq, founder of the independent firm in 2003, will be the CEO and head of development.In terms of human resources, Faller will repatriate Héritage AM teams currently located in offices on the Champs Elysées in Paris, to offices at Rothschild & Cie Gestion. That team will include 15 professionals in Paris, with some personnel in London and New York.Currently, Héritage AM manages three alternative multi-management mutual funds: two ARIA III funds and one contractual fund. However, the combination of the two asset management teams will allow for the launch of new products conceived by Faller. A Solvency II compliant, a level 2 fund dedicated to institutional investors may be one of the projects of the new unit.
02/02/2012

Profits marginally down at Ameriprise in 2011

In 2010, net profits at Ameriprise Financial fell 10% to USD1.076bn, from USD1.097bn. The parent company of Columbia Management and Threadneedle nonetheless posted a growth in its operating profits to USD1.639bn, from USD1.574bn.Total assets under management were down 3% for the year to USD527.57bn, from USD541.94bn, while assets under administration were down slightly by 2% to USD103.75bn, compared with USD105.52bn.However, pre-tax profits in the asset management business unit increased 33%, to USD436m, from USD318m in 2010.Columbia has posted a contraction in its assets for the year, to USD326.12bn, compared with USD355.49bn, with net outflows of USD14.72bn, compared with USD12.33bn the previous year.At Threadneedle, however, assets under management increased to USD113.57bn, compared with USD105.65bn twelve months earlier. The British asset management firm has posted net subscriptions of USD10.58bn compared with net outflows of USD506m in 2010.
02/02/2012

C-Quadrat recruits a manager

Robert Piribauer, most recently head of quantitative and qualitative fund analysis and management of model portfolios for third-party funds in the area of bonds at Pioneer Investments, was recruited on 1 February by the Austrian-German firm C-Quadrat KAG. He will join the fund management team, and will be responsible for strengthening expertise in the area of qualitative and quantitative fund analysis.Meanwhile, C-Quadrat KAG has appointed two members of its managing board to the managing board at its affiliate C-Quadrat Investment. They are Andreas Wimmer, who will be responsible for marketing and communication, and Markus A. Ullmer, who will take charge of legal affairs, risk management and human resources.
02/02/2012

SCM Private plans to achieve total transparency

The asset management firm SCM Private on 1 February introduced a transparency code (the “True and Fair Code and Labelling System”) which will aim to require financial services to provide 100% transparency of commissions and investments. The move aims to deprive the sector of a commission structure which is “deliberately complicated in order to conceal the real numbers,” SCM Private says.
02/02/2012

Net redemptions from Spanish funds in January

Since March 2011, Spanish securities funds have ceased to register net subscriptions. January brought net redemptions of EUR401m, compared with EUR1.05bn in December, and EUR623m in the corresponding month of the previous year, statistics from the Inverco association of asset management firms reveal.Total assets nonetheless increased in January by 1.1%, or nearly EUR1.45bn, to a total at the end of the month of nearly EUR129.25bn.Of the 20 largest asset management firms by volume of AUM, only six have posted net subscriptions in January; the two asset management firms which posted the largest inflows were Popular Gestión, with EUR76.48bn, and Bansabadell Inversión, with EUR73.34m.However, Santander Asset Management saw outflows of EUR239.87m, CatalunyaCaixa Inversió had net redemptions of EUR129.17m, and InverCaixa Gestión has posted redemptions of EUR96.93m.
02/02/2012

State Street lists 16 ETFs in Switzerland

SIX Swiss Exchange on 31 January admitted 16 SPDR-branded ETF funds from State Street Global Advisors (SSgA) to trading, including two funds based on S&P indices, seven based on Barclays Capital indices, and five based on MSCI indices. The market maker for all of the funds is Commerzbank. Management commissions vary from 0.15% to 0.65%.The funds are as follows:SPDR Barclays Capital Emerging Markets Local Bond ETF, fees of 0.65%SPDR Barclays Capital Euro Aggregate Bond ETF (0.20%)SPDR Barclays Capital Euro Corporate Bond ETF (0.20%)SPDR Barclays Capital Euro Government Bond ETF (0.15%)SPDR Barclays Capital Sterling Aggregate Bond ETF (0.20%)SPDR Barclays Capital US Aggregate Bond ETF (0.20%)SPDR Barclays Capital US Treasury Bond ETF (0.15%)SPDR MSCI ACWI ETF (0.50%)SPDR MSCI ACWI IMI ETF (0.55%)SPDR MSCI EM Asia ETF (0.65%)SPDR MSCI EM Europe ETF (0.65%)SPDR MSCI EM Latin America ETF (0.65%)SPDR MSCI Emerging Markets Small Cap ETF (0.65%)SPDR S&P Emerging Markets Dividend ETF (0.65%), andSPDR S&P US Dividend Aristocrats ETF (0.35%)
02/02/2012

Société Générale Private Banking (Switzerland) appoints a director in Lugano

Société Générale Private Banking (Switzerland) SA has appointed Marco Tini as executive CEO of its Lugano-based affiliate. Tini, 40, from 1 January 2012 succeeds Jean-Marie Simond, who is retiring. Simond will become vice-chairman of the board of directors at Société Générale Private Banking (Lugano-Svizzera) SA, a statement says. Before joining Société Générale Private Banking (Lugano-Svizzera) SA in 2006, as head of legal affairs and compliant, and then as deputy CEO of the bank from 2010, Tini served in several senior positions at Crédit Suisse Private Banking Lugano.
02/02/2012

Profits down for asset management at Nomura

Pre-tax profits for the asset management arm of Nomura totalled JPY4.2bn in third quarter 2011-2012, down 10% compared with the previous quarter, and 24% compared with third quarter of the previous fiscal year. Assets under management were down slightly compared with second quarter of the fiscal year, due to net inflows of JPY96.8bn into ETFs, which offset redemptions observed elsewhere.
02/02/2012

Nicolas Rousselet to develop fund of hedge fund activities at Unigestion

Unigestion on 1 February officially announced the appointment of Nicolas Rousselet as managing director, head of hedge funds, as Newsmanagers reported at the time of his predecessor’s departure (16 December 2011). Rousselet will be based in Geneva, and will lead development of fund of hedge fund activities at Unigestion, which has over EUR2.9bn in assets under management for institutional clients. With the support of the investment committee dedicated to hedge funds, he will continue research efforts at Unigestion to offer high added value investment solutions to diversify the traditional asset allocation of institutional investors.
02/02/2012

Asset management firms continue to be created in 2011

The dynamic of creation of portfolio management firms (SGP), particularly entrepreneurial firms, continued in 2011, according to estimates from the French financial management association (AFG). Overall, 39 asset management firms were founded last year, compared with 44 the previous year. About 10 firms are still in the foundation process. The number of active asset management firms now exceeds 600, at a total of 608, up from 592 in 2011 and 567 the previous year. In other words, net foundations of new firms has slowed to 16, from 25 the previous year. The AFG’s estimates also confirm statistics already published by Morningstar and Europerformance. Overall assets under management (in mutual funds and mandates) have fallen 4.1%, to EUR2.636trn as of the end of December, a contraction of about EUR114bn. This dvelopment is largely the result of a coincidence of a slight rise in assets under management in mandates (+1.9%, to EUR1.430trn, taking into account foreign-registered funds), and a decline in French-registered mutual funds (-10.4%, or EUR140bn, to EUR1.206trn).
02/02/2012

Amundi changes the name of a govies ETF

The asset management firm Amundi Investment Solutions has modified the name of its ETF AAA Govt. Bond EUROMTS (FR0010930636) fund to Amundi ETF Govt. Bond Highest Rated EuroMTS Investment Grade ETF. The fund of euro zone government bonds with the highest ratings from the three major ratings agencies replicates the EuroMTS Highest-Rated Government All-Maturity. Assets as of the end of December totalled EUR40.99m.
02/02/2012

Record return for ATP pension fund

The Danish pension fund ATP on 1 February announced a record return of 26% in 2011, or DKK126bn, resulting in an increase in assets to DKK579bn as of the end of December, compared with DKK475bn twelve months earlier.This performance translated into a tax burden of over DKK18bn. The reserves at ATP were increased by DKK4bn, bringing them to DKK74bn, after taxes.As of the end of 2011, ATP was paying benefits to 830,000 people, meaning that about 8 Danish pensioners out of 10 receive complementary benefits from ATP.

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