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11/03/2014

Highbridge manager to found his own firm

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Adam Bernstein, a portfolio manager for nine years at Highbridge Capital Management, is planning to leave the firm with two colleagues to found a new hedge fund firm, the Wall Street Journal reports, citing sources familiar with the matter. Bernstein supervises one of the largest and most profitable portfolios from Highbridge, a firm controlled by JP Morgan Chase. Hoffman, head of equity trading, is also leaving.
11/03/2014

An ex-employee of Cyrus Conseil arrives at EdRAM

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } The arrival of David Zerbib on the European sales team at Edmond de Rothschild Asset Management, which the website H24 Finance announced on the morning of Monday, 10 March, was confirmed soon thereafter by the asset management firm. Zerbib will work on the team led by Michel Dinet, head of IFA partners, in the department of Philippe Cormon, head of European Third Party Distribution at EdRAM. The new arrival will be responsible for monitoring independent advisers in Paris and the western region, as well as entrepreneurial asset management firms. Before joining EdRAM, Zerbib worked at Cyrus Conseil for 2 years.
11/03/2014

JP Morgan AM courts brokers

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } JP Morgan Asset Management (JP Morgan AM) is preparing a new wave of activities with insurers at a time when these clients are seeking to outsource their investments in areas such as infrastructure, private equity and real estate, eFinancial News reports. The US asset management firm last year saw a lot of its new business coming from insurance companies in the United States, Taiwan, South Korea and Japan. It is now expecting to gain business with European insurers, particularly in Italy, Switzerland and Germany.
11/03/2014

Partners Group enregistre des résultats exceptionnels en 2013

Le gestionnaire de fortune suisse Partners Group a fait état pour l’exercice 2013 d’un bénéfice net de 292 millions de francs suisses contre 265 millions de francs pour l’année précédente, selon des chiffres provisoires publiés le 10 mars. Les actifs sous gestion s'élèvent à plus de 31 milliards de francs suisses. Le conseil d’administration de Partners Group propose par ailleurs l'élection de Peter Wuffli, membre du conseil depuis 2009, à la présidence du conseil afin de réduire la dépendance de la structure vis-à-vis des membres fondateurs.
11/03/2014

Promotions at Vontobel

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } The Swiss private bank Vontobel has promoted four of its employees, das Investment reports. Wolfram Gerlof becomes managing director of asset management. Daniel Brüesch et Roland Reyeg become department heads in private banking. Lastly, Christof Naef has been appointed as department head in investment banking.
11/03/2014

JP Morgan appoints a director of Swiss institutional clients

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } JPMorgan Asset Management has appointed Stéphane Casagrande as its director for institutional clients in Switzerland. Casagrande will be based in Zurich, and will handle monitoring of pension funds, insurers and businesses in Switzerland. He was previously director of Institutional Sales and Conslutant Relations for BNP Paribas Investment Partners in Switzerland. Before that, he worked at ECOFIN Investment Consulting and Credit Suisse Asset Management.
11/03/2014

Julius Bär launches a real-time online trading platform

Julius Baer has launched the real-time online trading platform ‘Julius Baer Market Link’, according to a press release published on March 10."Available both as a web and mobile version, active and trading-orientated private clients now have all major financial markets at their fingertips with this new offering. Julius Baer is the first private banking group which uniquely combines the safety and service of traditional private banking with a professional online trading platform,» according to the statement.Complementary to and separate from the existing e-Banking service, which focuses on payments and low-frequency cash transactions, Julius Baer Market Link is an execution-only trading platform with more than 20,000 instruments across most asset classes including equities, foreign exchange, precious metals and commodities on various exchanges worldwide. The platform is easy to use on any device. Clients can trade mobile anywhere and anytime, by simply logging in on their personal computer, tablet or smartphone. Besides benefitting from real-time portfolio valuation, market data and news feeds, the trading platform grants direct access to first-class analysis tools and allows for cross-asset class margining. This innovative, safe and leading-edge technology is complemented by a dedicated Service Centre located in Switzerland, which supports the Bank’s clients in solving any platform-related questions during extended office hours.
11/03/2014

F&C Investments wins a USD446m mandate

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Things are going well for F&C Investments (F&C). The British asset management firm has won a USD446m mandate from the Eastern European Fund Board following the departure of the current manager, Nevsky Capital, which has “resigned” with effect from 30 April 2014, F&C announced on 10 March. The British asset management firm will therefore assume the management of the Eastern European Fund, a UCITS investment vehicle based in Dublin with USD466m in assets as of 3 March 2014. The objective for the fund remains unchanged: to increase capital by investing in companies which are listed in Eastern Europe, or in companies with a significant exposure in the region. F&C has also announced plans to introduce a “highly competitive” institutional share class for existing clients and new clients without a performance fee.
11/03/2014

Vice president leaves Old Mutual Wealth

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Peter Mann, currently vice president of Old Mutual Wealth, has announced his departure from the firm after twelve years of collaboration, Citywire reports. He had served as vice president since October 2013. Although Mann will remain at the firm until mid-year, he will not be replaced, Old Mutual Wealth reports.
11/03/2014

Argos Investment Managers accelerates its development in the United Kingdom

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } As announced earlier this year, the Geneva-based asset management firm Argos Investment Managers is hoping to develop in Europe, especially in France and the United Kingdom. With this in mind, Argos IM has recruited Nick Hamwee as head of British activities. He claims in Investment Europe that “the turnover of bonds to equities begun in 2013 is favourable to asset management boutiques.” According to Investment Eirope, Argos Investment Managers has assets under management of EUR320m.
11/03/2014

HSBC GAM recruits a former director of Legal & General

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Simon Ellis, former managing director of Legal & General Investments, has joined HSBC Global Asset Management (HSBC GAM) in the newly-created role of global head of client segments, FT Adviser reports. His mission will be to oversee the development of a large part of the clients of HSBC GAM, including pension funds and sovereign funds. Ellis left L&G Investments in January last year after three years at the firm. In his career, he has also served in senior roles at Fidelity, Axa Investment Managers and Henderson.
11/03/2014

Alceda AM authorised to launch alternative investment funds

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } The German asset management firm Alceda Asset management has received a license from the German financial market aurthority (BAFin) to launch and manage alternative investment funds (FIA). The permission covers both traditional open-ended funds dedicated to stocks and bonds and closed funds reserved rather for institutional investors.
11/03/2014

Inflows to Swedish funds continue

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Funds on sale in Sweden posted net inflows in February of almost SEK12bn, or EUR1.3bn, about the same level as in January, the most recent statistics from the local fund association, Fondbolagens Förening, show. Inflows were driven by bond funds, which took in SEK6.4bn, and diversified funds, with +SEK4.3bn. Equity funds attracted SEK1.8bn. For money markets, after strong inflows in January, funds attracted only SEK79m in February. Overall, in the month of February, assets in the Swedish fund sector rose by about SEK90bn (EUR10bn) to a total of SEK2.535bn (EUR286bn). Of this total, about 56% are invested in equity funds.
11/03/2014

Handelsbanken awards a fund to a new recruit

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Handelsbanken has appointed its most recent recruit, Viking Kjellström, as its new principal manager for its global equity fund Handelsbanken Funds Global Selective, Citywire reports. Kjellström joined the Scandinavian bank last month, after serving as co-CIO of European equities at SEB. He had been manager of the SEB Europafund, which has been taken over by Magnus Högström. Kjellström succeeds David Rindegren.
11/03/2014

Spanish management firm ICR closes funds of funds

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } The Spanish asset management firm ICR Institutional Asset Management has notified the local regulator, the CNMV, of its decision to liquidate its two funds of funds Alpha Multistrategy IICIICIL and its feeder Alpha Plus IICIICIL, Funds People reports. As of the end of 2013, cumulative assets in the two vehicles topped EUR74m.
11/03/2014

GVC Gaesco Gestión launches a new fund of funds

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } GVC Gaeco Gestión has launched a new global fund of funds on the Spanish market, entitled 1 Kessler Casadevall, in the names of the two financial advisers in charge of the vehicle, Javier Kessler Saiz and Juan Manuel Vicente Casadevall, Funds People Reports. The benchmark indices for the funds are the MSCI World Index, for the equity portion, and the Citigroup World Aggregate Bond Index, for the bond portion. The product will invest over 50% of its assets in third-party funds from national or international managers, whether or not they are controlled by GVC Gaeco Gestión. The rest of the assets will be invested directly in equities, bonds and ETFs, up to a maximum of 49%, public or private issuers from OECD countries. However, exposure to risk from emerging countries will be limited to 20%, whie exposure to currency risks may reach 100%.
11/03/2014

Buffett recommends that his wife invests passive

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Warrenn Buffett has stated in the most recent report from Berkshire Hathaway that in his will, he recommends that his wife invest the money he is leaving her 90% in a very low-cost index fund based on the S&P 500, and 10% in short-term government bonds, Financial Times fund management reports. Concerning the index fund, “I suggest funds from Vanguard,” the star investor says.
11/03/2014

Franklin Templeton adds to sales team in Spain

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Franklin Templeton Investments has added to its sales teams in Spain. The asset management firm has recruited Reyes Brañas for its Madrid office, as junior salesperson, Funds People reports. Her role will be to assist the sales team, with the objective of improving the quality of services and information to clients. She will also actively participates in sales of products from the company via the channel of financial agents on the Spanish market. Last month, Franklin Templeton recruited Javier Villegas as director of global financial institutions and consultants for the Americas. His mission is to strengthen and coordinate relationships with this target client segment in Latin America, and to develop the distribution of the asset management firm serving major partners in the region.
11/03/2014

Commerzbank Real granted AIFM license

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Commerz Real Kapitalverwaltungsgesellschaft mbH, an affiliate of Commerz Real AG (Commerzbank group), has obtained a license from the German market autority BaFin. Approval from BaFin will allow the new firm to offer and manage alternative investment funds (FIA) in Germany for both private and institutional investors. The launch of the first products is scheduled for the second half of 2014. The directors of the new firm, who benefit from the expertise of Commerz Real, are Marinela Bilic-Nosic for risk management, Heiko Szczodrowski for real estate projects and management, and Jörg Thomsen for real estate products and product development.
11/03/2014

Ignis to close two equity funds in United Kingdom

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Ignis Asset Management is levelling out its equity range in the United Kingdom. According to Citywire, the asset management firm is planning to close two funds, the UK Enhanced Income and the UK Focus funds, managed by Graham Ashby and Mark Holden, respectively, due to their negative performance. The UK Enhanced Income fund (GBP9.9m in assets) has earned returns of 16.9% in the past three years to the end of January, compared with gains of 32.2% for the FTSE 350 Higher Yield index. For its part, the UK Focus fund (GBP63.5m), launched in 2002, has posted returns of 4.7% in the past three years, compared with 27.7% fo the FTSE All Share.
11/03/2014

Franklin Templeton marque des points chez les institutionnels

Après des années d’efforts soutenus, Franklin Templeton a réussi à se faire reconnaître auprès des investisseurs institutionnels allemands, rapporte le Börsen Zeitung. Dans un entretien au quotidien, Reinhard Berben, responsable de Franklin Templeton Investment Services, indique que les actifs sous gestion pour le compte d’investisseurs institutionnels atteint désormais 2,6 milliards de dollars. Un montant multiplié par deux en l’espace de trois ans, se félicite Reinhard Berben.
11/03/2014
Fonds

Granahan IM va lancer son premier fonds Ucits

La boutique d’investissement américaine Granahan Investment Management va lancer le mois prochain son premier fonds Ucits, est en mesure de dévoiler Citywire. Il s’agira du premier fonds directement géré par la société basée dans le Massachusetts. Jusqu’ici, elle ne gérait que des stratégies sous mandat pour les institutionnels. Le fonds, domicilié en Irlande, s’appellera US Focused Growth fund.
Fonds
11/03/2014
Fonds

Swisscanto lance un fonds absolute return émergents

Swisscanto lance un fonds de performance absolue investi sur les marchés émergents. Placée majoritairement dans des emprunts libellés en dollars américains ou en euros, la stratégie flexible du fonds Swisscanto (LU) Bond Invest Emerging Markets Absolute Return propose d’investir dans les États, les entreprises et les monnaies des marchés émergents qui présentent les meilleures perspectives. Le fonds sera ouvert à la souscription du 17 au 27 mars 2014. Il s’adresse aux investisseurs privés et institutionnels et est accessible en francs suisses, en euros ou en dollars américains. «Les marchés émergents continuent de connaître une croissance globale supérieure à celle des pays industrialisés traditionnels. De plus, l’endettement des États et des entreprises des marchés émergents est inférieur à celui des pays industrialisés. La mise sous pression des monnaies des pays émergents suite à des sorties de capitaux a clairement démontré au cours de des derniers mois les risques existants sur ces marchés. Quand on aborde les marchés émergents, il faut donc différencier clairement entre eux les divers pays et entreprises», souligne Swisscanto.CaractéristiquesIsin :Swisscanto (LU) Bond Invest Emerging Markets Absolute Return H CHF B (clientèle privée), Swisscanto (LU) Bond Invest Emerging Markets Absolute Return H CHF P (clientèle institutionnelle) Frais de gestion : 0,90 % pour la clientèle privée, 0,35 % pour la clientèle institutionnelle.
Fonds
11/03/2014
Fonds

L’indice HFR des hedge funds progresse de 2,1 % en février

Les hedge funds ont enregistré de «solides gains» en février, note le Hedge Fund Research (HFR) dans un communiqué daté du 7 mars, alors que les marchés obligataire, actions et matières premières se sont repris par rapport à la volatilité observée en janvier, et ce malgré la persistance des turbulences sur les marchés émergents. De fait, l’indice HFRI Fund Weighted Composite a progressé de 2,1 % en février, soit la meilleure performance enregistré sur un an. En parallèle, l’indice HFRI Fund of Funds a gagné 1,8 % sur le mois écoulé, la meilleure progression depuis janvier 2013.Dans le détail, ces performances ont été portées par les stratégies actions, l’indice HFRI Equity Hedge grimpant de 2,9 % en février. Les stratégies «event driven» ont également le vent en poupe, l’indice HFRI Event Driven progressant de 2,1 %, enregistrant ainsi son 18ème mois de gains sur les 21 derniers mois.Portés par les solides performances des stratégies matières premières, marchés émergents, CTI et «discretionary macro», l’indice HFRI Macro a, quant à lui, gagné 1,4% sur le mois écoulé. L’indice HFRI Macro: Commodity progresse ainsi de 2,7 % sur la période tandis que l’indice HFRI Emerging Marekts enregistre un bond de 2,6%. Par ailleurs, l’indice HFRI Macro Discretionary a gagné 1,7 % en février alors que l’indice HFRI Strategic Diversified a progressé de 1,6 %.
Fonds
11/03/2014
Fonds

Poursuite de la collecte des fonds suédois

Les fonds commercialisés en Suède ont enregistré en février des souscriptions nettes de pratiquement 12 milliards de couronnes suédoises ou 1,3 milliard d’euros, soit à peu près le même niveau qu’en janvier, montrent les dernières statistiques de l’association locale des fonds Fondbolagens Förening.La collecte a été tirée par les fonds obligataires, qui ont engrangé 6,4 milliards de couronnes, et les fonds diversifiés, avec +4,3 milliards de couronnes. Les fonds actions ont quant à eux drainé 1,8 milliard d’euros. Côté monétaire, après une forte collecte en janvier, les fonds n’ont attiré que 79 millions de couronnes en février.Au total, sur le mois de février, les encours du secteur des fonds suédois ont augmenté d’environ 90 milliards de couronnes (10 milliards d’euros) pour atteindre 2.535 milliards de couronnes (286 milliards d’euros). Sur ce montant, environ 56 % sont placés en fonds actions.
Fonds
11/03/2014
Fonds

Handelsbanken confie un fonds à une nouvelle recrue

Handelsbanken a nommé sa dernière recrue Viking Kjellström en tant que nouveau gérant principal pour son fonds actions mondiales Handelsbanken Funds Global Selective, rapporte Citywire. L’intéressé a rejoint la banque nordique le mois dernier après avoir été co-CIO des actions européennes chez SEB. Il gérait le SEB Europafond, qui a été repris par Magnus Högström. Viking Kjellström succède à David Rindegren.
Fonds
11/03/2014

Matthews Asia renforce ses équipes

Matthews Asia, la société de gestion américaine spécialisée dans l’investissement en Asie, vient de recruter Andy Rothman au poste nouvellement créé de stratégiste pour les investissements. Basé à San Francisco, l’intéressé sera responsable du développement de la recherche concentrée sur les évolutions politiques et économiques en Chine, et ce afin de soutenir l’équipe d’investissement de Matthews China.Avant de rejoindre Matthews Asia, Andy Rothman a passé 14 ans chez CLSA en tant que stratégiste macroéconomique sur la Chine, après avoir travaillé pendant 17 ans au US Foreign Service avec une carrière diplomatique en Chine.
11/03/2014

Alceda AM autorisée à lancer des fonds d'investissement alternatifs

La société de gestion allemande Alceda Asset Management a obtenu auprès de l’autorité des marchés financiers allemande (BaFin) sa licence pour lancer et gérer des fonds d’investissement alternatifs (FIA).L’autorisation couvre tant les fonds ouverts classiques dédiés aux actions et obligations que les fonds fermés plutôt réservés aux investisseurs institutionnels.
11/03/2014

Commerzbank Real obtient sa licence AIFM

Commerz Real Kapitalverwaltungsgesellschaft mbH, filiale de Commerz Real AG (groupe Commerzbank), vient d’obtenir l’agrément AIFM de l’autorité des marchés allemande, la BaFin. Le feu vert de la BaFin va permettre à la nouvelle société de proposer et de gérer des fonds d’investissement alternatifs (FIA) en Allemagne tant pour les investisseurs privés qu’institutionnels.Le lancement des premiers produits est programmé pour le second semestre 2014. Les dirigeants de la nouvelle entité, qui bénéficie du savoir-faire de Commerz Real, sont Marinela Bilic-Nosic pour la gestion du risque, Heiko Szczodrowski pour les produits immobiliers et la gestion et Jörg Thomsen pour les produits no immobiliers et le développement produits
11/03/2014

LGIM envisage de lancer des ETF

Legal & General Investment Management envisage de lancer une activité ETF, rapporte le Financial Times fund management. Ali Toutounchi, managing director des fonds indiciels chez L&G, estime que les ETF renforceraient l’offre de LGIM aux autres investisseurs. « Cela nous donnerait accès à un marché totalement différent : gérants de fonds, hedge funds, traders (…) ». Il estime aussi que cela permettrait d’accéder bien plus facilement au marché des particuliers.

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