Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
10/12/2009

Sail Advisors ouvre un bureau à New York

Le fonds de hedge funds Sail Advisors, base à Hong Kong, a decidé d’ouvrir un bureau aux Etats-Unis, plus précisément à New York, indique Asian Investor. L'équipe sur place, composée de Jeff Tomlinson, Chris Solarz et Shaunak Amin, sera chargée d’analyser les hedge funds basés dans la grande pomme. L’activité sera lancée en janvier 2010. A partir de mars 2010, Mike Tomlinson rejoindra ses collègues à New York. Tous sont d’anciens membres de l'équipe de fonds de hedge funds d’ING.
10/12/2009

T. Rowe Price veut lancer des ETF actifs

Selon Mutual Fund Wire, T. Rowe Price a déposé vendredi auprès de la SEC une demande d’exemption pour pouvoir émettre des ETF actifs sur des actions américaines et étrangères ainsi que sur l’obligataire.
10/12/2009
Fonds

Pimco aura bientôt le plus gros fonds du monde

D’après Morningstar, le Total Return Fund de Pimco (Allianz Global Investors) pourrait battre avant la fin du mois le record historique de 202,3 milliards de dollars d’encours (137 milliards d’euros) établi en 2007 par le Growth Fund of America, rapporte la Frankfurter Allgemeine Zeitung, relayant Bloomberg.Durant les onze premiers mois de l’année, les fonds obligataires ont enregistré des souscriptions nettes de 297 milliards de dollars contre 12 milliards pour les fonds d’actions. A fin novembre l’encours du Total Return Fund, géré par Bill Gross, se situait à 199 milliards de dollars contre 153 milliards pour le Growth Fund of America.
Fonds
10/12/2009

Les ex-employés de Madoff ont du mal à se recaser

Un an après l’éclatement du scandale Madoff, le Wall Street Journal constate qu’il est difficile pour les anciens employés de l’homme d’affaires, à commencer par ses fils Mark et Andrew, de retrouver un emploi. Eleanor Squillari, l’assistance de Bernard Madoff pendant des années, tente une reconversion dans la coiffure, jugeant qu’elle ne retrouvera jamais un emploi dans la finance.
10/12/2009

Hennessy Advisors accuse une perte

Pour l’exercice au 30 septembre, Hennessy Advisors Inc. déclare une perte nette de 195.349 dollars contre un bénéfice net de plus de 1,61 millions pour les douze mois à fin septembre 2008, sur un chiffre d’affaires de 5,81 millions contre 10,27 millions.Bien que l’encours ait augmenté de 5,4 % à 923,4 millions de dollars fin septembre contre 876 millions douze mois plus tôt, la baisse des actifs sous gestion a pesé sur les résultats, parce que cet encours a plongé à 475 millions de dollars en mars.Le gestionnaire indique avoir acquis durant l’exercice écoulé quatre «mutual funds» dont les actifs représentaient 232 millions de dollars. Il a par ailleurs lancé les mutual funds Hennessy Select Series, des produits à gestion active faisant appel à des sub-advisors confirmés et «hautement qualifiés».
10/12/2009

L’ex CEO de Henderson devrait prendre la tête de Pioneer

Après le départ de Dario Frigerio de la direction de Pioneer Investments, le comité nominations d’UniCredit, la maison mère de la société de gestion, «a exprimé un avis positif au conseil d’administration concernant la désignation de Roger Yates comme nouveau responsable des activités de gestion d’actifs du groupe», rapporte Il Sole – 24 Ore. Agé de 52 ans, le Britannique Roger Yates a été pendant dix ans, de 1999 à 2008, CEO de Henderson Group. Selon le journal italien, cette nomination reflète la volonté du groupe italien de miser sur la relance et la valorisation de Pioneer, qui ne serait donc plus à vendre.
10/12/2009
Fonds

Russell Investments lance OpenWorld en Italie

Russell Investments a lancé en Italie OpenWorld, sa Sicav de droit irlandais qui donne accès - y compris aux particuliers - à des gérants spécialisés souvent réservés aux institutionnels. Dans le détail, les compartiments disponibles sont : OpenWorld Global Climate Change (géré par Impax AM), OpenWorld Global Listed Infrastructure (RARE Infrastructure Limited) et OpenWorld Global Opportunistic Listed Property (CB Richard Ellis Global Real Estate Securities).
Fonds
10/12/2009
Fonds

Schroders : Hardeep Dogra seconde Clive Dennis

Schroders a annoncé que Hardeep Dogra, associé chez Goldman Sachs International à Londres et responsable du secteur fixed income, devises et matières premières, rejoint Clive Dennis comme co-gérant du fonds mondial devises lancé en juin, le compartiment Global Managed Currency de la sicav luxembourgeoise Schroder ISF (lire notre article du 9 juin). D’autre part, le gestionnaire britannique indique que deux nouvelles classes de parts «euro-hedged» sont disponibles pour les investisseurs allemands et autrichiens.La souscription minimale est fixée à 1.000 euros et la commission de gestion à 1 %, le droit d’entrée se situant à 5 % maximum.
Fonds
10/12/2009
Fonds

Le HFRI Fund Weighted Composite Index gagne 1,75 % en novembre

Les hedge funds se préparent à clôturer la plus belle année depuis une décennie, selon HedgeWeek. En novembre, selon les données de Hedge Fund Research, l’indice HFRI Fund Weighted Composite a gagné 1,75 % en novembre, soit une performance de 18,8 % depuis le début de l’année. La stratégie macro a réalisé la plus forte performance (+2,54 %), contre un gain de 0,73 % pour la stratégie «relative value», la moins bonne en novembre.
Fonds
10/12/2009
Fonds

Les actifs des hedge funds passent la barre des 2.000 milliards

Selon les chiffres de HedgeFund.net publiés mardi 8 décembre, après avoir augmenté de 3,39 %, les actifs des hedge funds ont passé la barre des 2.000 milliards de dollars en novembre 2009, un niveau qui n’avait plus été atteint depuis novembre 2008.Dans le détail, l’augmentation de l’encours est due à la fois à un effet performance et à l’apport d’une nouvelle collecte. Ainsi, le rendement des actifs a fait augmenter les actifs de 40,5 milliards, tandis que les investisseurs ont alloué 26,3 milliards de dollars aux hedge funds. L’enquête de Hedgefund.net relève également que novembre est le 7ème mois consécutif où les hedge funds ont enregistré des souscriptions nettes. Durant cette période,119,91 milliards de dollars ont été invetis dans ces fonds. Enfin, les performances des hedge funds ont été positives en novembre, tirée par les stratégies menées sur les produits de base et les stratégies axées sur les marchés émergents. La stratégie long / short equity, de son côté, a sous-performé l’indice S & P 500 de plus de 450 points de base.
Fonds
10/12/2009
Fonds

Franklin Mutal Series remplace deux de ses transfuges

Peter Langeman, president et CEO de Mutual Series Group, va prendre avec effet immédiat la gestion du Franklin Mutual Global Discovery Fund en remplacement d’Anne Gudefin et de Charles Lahr qui ont quitté l’entreprise le 4 décembre pour rejoindre Pimco (Allianz). Son co-gérant sera Philippe Brugère-Trélat, qui gère le Franlin Mutual European Fund.Le départ d’Anne Gudefin se répercute aussi sur le Franklin Mutual Beacon Fund, qui sera dorénavant co-géré par Steve Segal et Deborah Turner.
Fonds
10/12/2009

Sail Advisors opens an office in New York

The fund of hedge funds Sail Advisors, based in Hong Kong, has decided to open an office in the United States, in New York, Asian Investment reports. The local team will consist of Jeff Tomlinson, Chris Solarz and Shaunak Amin, who will provide analysis of hedge funds in the Big Apple. The activity will be launched in January 2010. Mike Tomlinson will join his colleagues in New York in March 2010. All four are former members of the ING fund of hedge fund team.
10/12/2009

T. Rowe Price to launch actively-managed ETFs

Mutual Fund Wire reports that T. Rowe Price on Friday submitted an exemptive relief application to the SEC to be permitted to issue actively-managed ETFs based on US and international equities as well as bonds.
10/12/2009

Maif, Macif and Matmut found second-largest French mutual insurer

Les Echos reports that Maif, Macif and Matmut yesterday unveiled Sferen, their joint mutual insurance group (SGAM), which was officially founded on Tuesday evening. The three mutuals have created the second-largest French mutual entity, after Covéa. They will now appoint a CEO for their SGAM. The partners have identified seven top-priority activities (insurance for lenders, life insurance, reinsurance, purchasing in external professions related to insurance, asset management, and personal services). Macif and Matmut, which are partners in OFI AM, are also considering centralising their asset management, though they are hesitant to “put all their eggs in one basket,” says the president and CEO of Matmut, Daniel Havis. Maif is an “observer” in that area, he adds.
10/12/2009

Losses at Hennessy Advisors

For the fiscal year to 30 September, Hennessy Advisors Inc. has announced a net loss of USD195,349, compared with net profits of more than USD1.61m in the twelve months to the end of September 2008, on revenues of USD5.81bn, compared with USD10.27bn. Although assets increased by 5.4% to USD923.4m as of the end of September, compared with USD876m twelve months earlier, the decline in assets under management has weighed down results, as assets fell to USD475m in March. The manager says that in the past fiscal year it has acquired four mutual funds, with assets of USD232m. It has also launched the Hennessy Select Series mutual funds, actively-managed products which are contracted out to selected “highly-qualified” sub-advisors.
10/12/2009

Yves Robert-Charrue becomes director of Investment Solutions group at Julius Baer

The board of directors at the Banque Julius Baer on Wednesday appointed two new executve board members, effective from 1 January. Giovanni Flury will succeed Bernard Keller as market director for the Ticino region of Switzerland and Italy, while Yves-Robert Charrue will become director of the Investment Solutions group at the bank. He succeeds Boris F.J. Collardi, CEO of the Julius Baer group, who reorganized this “major activity” at Bank Julius Baer and directed it through the year 2009. Robert-Charrue joined Julius Baer early in 2009 as director of management for funds and products, in charge of management for the full range of investment funds worldwide. He “acquired solid experience at Credit Suisse” before joining the firm, the press release says.
10/12/2009

Brain drain from Allianz Capital Partners

According to reports in Handelsblatt, two general directors of Allianz Capital Partners (ACP), Matts Lundgren and Stefan Sanne, are about to leave the firm, following the departures of the CIO, Boris Bernstein, and the head of the private equity fund of funds activity (Allianz Private Equity Partners, APEP), Jonny Maxwell. The brain drain is said to be due to the fact that Allianz this summer called off plans to spin off its private equity affiliate. The founder of ACP, Thomas Pütter, moved to London in late July, and is provisionally serving only as head of the investment committee. However, officially, Allianz is continuing to project growth at ACP, and is even aiming to double assets to EUR15bn in five years.
10/12/2009

BlackRock reveals size of German empire

Following disclosures yesterday of its stakes in Allianz SE, SAP, RWE, Adidas and K+S (see report in yesterday’s Newsmanagers), BlackRock’s stakes in several other German companies were announced in market statements from these businesses on Wednesday. The management firm, which has recently acquired Barclays Global Investors (BGI) as of 1 December owned 5.45% of Lufthansa, 5.40% of BASF, 10.07% of GEA Group, 4.80% of E.On, 4.58% of Munich Re, 7.01% of MTU Aero Engines, 4.55% of MAN, and 3.90% of Daimler.
10/12/2009

Hedge fund assets top USD2trn

According to statistics by HedgeFund.net, published on Tuesday, 8 December, assets in hedge funds increased by 3.39% in November to over USD2trn, a level not seen since November 2008. The increase in assets is due to performance effects and to new inflows. Returns on assets are responsible for an increase of USD40.5bn in assets, while investors allocated USD26.3trn to funds of this type. The HedgeFund.net study also found that November was the 7th consecutive month in which hedge funds posted net subscriptions. In this period, USD119.91bn were allocated to hedge funds. Lastly, the performance of hedge funds was positive in November, led by strategies focused on base materials and emerging markets. Long/short equity strategies, for their part, underperformed the S&P 500 index by more than 450 basis points.
10/12/2009

HFRI Fund Weighted Composite Index gains 1.75% in November

Hedge funds are looking set to celebrate their best year of the decade, Hedge Week reports. In November, according to data from Hedge Fund Research, the HFRI Fund Weighted Composite index gained 1.75%, putting its performance at 18.8% since the beginning of the year. The Macro strategy earned the strongest performance (+2.54%), compared with gains of 0.73% for relative value strategies, the weakest result in November.
10/12/2009

France still lags behind in Islamic finance

Les Echos reports that the first French sukuk may be issued in 2010, according to Thierry Dissaux, known within the French government as “Monsieur Islamic Finance,” speaking yesterday at the French Islamic finance forum. Initially, a private business would be created to launch the sukuk. A public issue would come only later. The announcement did not reassure actors in the sector, and the Franco-Arab Chamber of Commerce, co-organizer of the event, publicly expressed regrets that France is still “behind” in the development of this type of finance.
10/12/2009

SEC investigates several acquisitions

The acquisition of Wyeth by Pfizer and of Schering-Plough by Merck are two of at least nine transactions which are being scrutinised by the Securities and Exchange Commission as part of an investigation into possible insider trading, sources familiar with the matter have told the Wall Street Journal. The newspaper last week revealed that the regulator had sent dozens of subpoenas to hedge funds and brokers to ascertain whether advisors to financial operations and traders were illegally sharing insider information.
10/12/2009

Franklin Mutual Series replaces two departing managers

Peter Langeman, president and CEO of Mutual Series Group, will take over the management of the Franklin Mutual Global Discovery Fund with immediate effect, replacing Anne Gudefin and Charles Lahr, who left the firm on 4 December to join Pimco (Allianz). His co-manager will be Philippe Brugère-Trélat, who manages the Franklin Mutual European Fund. The departure of Gudefin will also affect the Franklin Mutual Beacon Fund, which will now be co-managed by Steve Segal and Deborah Turner.
10/12/2009

Merchant Capital to launch a dedicated UCITS platform for hedge fund managers

Merchant Capital is planning to launch a UCITS III fund structure which will provide an appropriate and effective vehicle for hedge fund managers to manage their own UCITS III funds, Hedge Week reports. It will take three to six months to construct and launch the fund product on the market. For funds which use the Merchant Capital platform, the delay will vary from four to six weeks, with a significant reduction in costs as a result. Hedge fund managers will not have to pay a front-end fee, and will also benefit from reduced administrative and legal costs.
10/12/2009

Former Henderson CEO to take over as head of Pioneer

Following the departure of Dario Frigerio as director of Pioneer Investments, the appointments committee at UniCredit, the parent company of the management firm, has “voted in favour of the appointment of Roger Yates as the new head of asset management activities for the group,” Il Sole - 24 Ore reports. The British Yates, 52, was CEO of Henderson group for ten years, from 1999 to 2008.
10/12/2009

Omega Capital to increase liquidity frequency for its funds

Alberto Ruiz, director of Omega Gestión de Inversiones, the Spanish affiliate of Omega Capital, has announced that from early 2010, the Cerrado fund will change from annual liquidity to monthly liquidity. The Fractal and Turaco funds will move from a quarterly liquidity window to a monthly opening, Funds People reports. Ruiz says Omega will seek to avoid if at all possible any investments in funds which use side pockets, as this type of activity is often destructive. However, he understands perfectly that fund managers may use gates to protect investors. Omega Gestión de Inversiones was issued a license in October 2006 by the CNMV to manage Spanish hedge funds. It launched two products, including the Laredo Inversión Libre, whose performance on one year totals 8.20%, and Alphaville, which was released on the market in October.
10/12/2009

Blue Rice launches an absolute returns strategy

The former head of the sovereign investment fund Korea Investment Corporation (KIC), Guan Ong, has launched a new product in Singapore, Asian Investor reports. His firm, Blue Rice Investment Management (BRIM), offers an absolute returns product, the Brim Asian Credit Fund. He hopes that the fund will manage USD40bn to USD50bn in assets by early 2010. Its capacity will be approximately USD1bn. The fund will focus primarily on Asian corporate bonds denominated in US dollars and other international currencies. Guan says that he is deliberately avoiding local currencies in order not to run currency risks in addition to credit risks. He prefers the investment paper category and avoids special situations. His prime broker is Credit Suisse, while administration services are handled by Deutsche Bank. The fund, which may use leverage of up to a factor of 2, is aiming for returns of 10% to 15% in 2010.
10/12/2009

Catella Real Estate adds members to board

From 1 January 2010, Jürgen Werner and Henrik Fillibeck will become members of the managing board at the German asset management firm Catella Real Estate AG KAG. Werner will be in charge of portfolio management, while Fillibeck will be in charge of risk valuation for financial and investment projects, middle office, and service activities. Catella is adding to its board to cope with a planned development of its real estate investment management activities in Europe in the next few years. In September, Catella acquired a state in the Italian management firm Castello SGR.
10/12/2009

Russell Investments launches OpenWorld in Italy

Russell Investments has launched OpenWorld in Italy. The Irish-registered Sicav provides access for all clients, including retail investors, to specialised managers often available only to institutionals. In detail, the sub-funds available are: OpenWorld Global Climate Change (managed by Impax AM), OpenWorld Global Listed Infrastructure (RARE Infrastructure Limited), and OpenWorld Global Opportunistic Listed Property (CB Richard Ellis Global Real Estate Securities).
10/12/2009

Schroders: Hardeep Dogra to assist Clive Dennis

Schroders has announced that Hardeep Dogra, a partner at Goldman Sachs International in London and head of the fixed income, currencies and commodities sectors, will join Clive Dennis has co-manager of the Global Managed Currency global currencies fund, launched in June. The product is a sub-fund of the Luxembourg Sicav Schroder ISF (see newsmanagers of 9 June). The British manager has also announced that two new classes of Euro-hedged shares will be available to German and Austrian investors. Minimal subscription is set at EUR1,000, and management commission is 1%, while the front-end fee is a maximum of 5%.

Sujets d'actualité

Tous les sujets