Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
23/10/2013

Les épargnants seront mieux informés

La commission Econ du Parlement européen a adopté un rapport sur la directive Prips pour l’harmonisation de l’information des particuliers qui investissent dans des produits d'épargne, en élargissant le champ du document d’information clé. Le projet n’est pas sûr de voir le jour.
23/10/2013
ESG

d' Ircantec se dote d' une charte ISR

L’Institution de retraite complémentaire des agents non titulaires de l'État et des collectivités publiques (Ircantec) gère depuis 2012 la totalité de ses actifs selon les principes d’investissement socialement responsable (ISR). Elle se dote aujourd’hui d’une charte qui présente les principes retenus par l’institution dans ce domaine. Cette charte rappelle le sens de la démarche : identité et valeurs de l’Institution, fondamentaux de la politique générale d’investissement. Elle structure l’approche retenue concernant les actions et obligations d’entreprises, les obligations souveraines ou encore les actifs immobiliers. Elle contribuera à organiser les relations avec les sociétés de gestion. Fruit de la collaboration entre l’institution et son gestionnaire, la direction des retraites et de la solidarité de la Caisse des Dépôts, le texte final rassemble l’ensemble des principes ISR progressivement définis par les instances du régime depuis 2009, principes qui s’appuient en grande partie sur les normes internationales PRI de l’ONU. Pour télécharger la charte ISR : cliquez ici
ESG
23/10/2013
Gestion d'actifs

L'UMR se renforce dans l'infrastructure

L’Union Mutualiste Retraite a décidé d’allouer soixante millions d’euros à la création d’un fonds de fonds d’infrastructures. Investi à 80 % dans des projets brownfield (projets déjà existants comme une concession d’autoroute) et à 20% dans des projets greenfield (projets de construction, comme une ligne de TGV), Ce fonds de fonds devrait offrir à la caisse de retraite, déjà investie dans les fonds I et II d’Antin Infrastructure Partners une meilleure diversification, avec l’avantage qu’aucun frais de gestion ne nous sera demandé tant qu’il n’y a pas d’investissement réalisé explique Philippe Rey, directeur des investissements de l’UMR. Le montage et la gestion du fonds ont été confiés à ...
Gestion d'actifs
22/10/2013

Le FESF se finance à 7 ans

La Facilité européenne de stabilité financière (FESF), qui continue à financer les programmes d’aide existants à l’Irlande, à la Grèce et au Portugal, a émis mardi un emprunt benchmark de 6 milliards d ‘euros à 7 ans. Le pare-feu européen a trouvé une marge de 20 points de base au-dessus des mid-swaps. Le livre d’ordres a dépassé 10,5 milliards. BNP Paribas, Credit Suisse et Morgan Stanley ont dirigé la transaction.
22/10/2013

Les chiffres de l'emploi américain font bondir l'euro

L'économie américaine a créé nettement moins d’emplois qu’attendu en septembre, suggérant une pause dans la reprise du marché du travail qui justifie a posteriori la décision de la Réserve fédérale de différer le début de diminution (tapering) de son programme de rachat d’actifs. Le département du Travail a fait part de la création de 148.000 postes non agricoles en septembre alors que les économistes interrogés par Reuters en anticipaient en moyenne 180.000. Le taux de chômage atteint pour sa part 7,2%, contre un objectif à 6,5% pour la Fed. La statistique a envoyé l’euro à un nouveau sommet de l’année contre le dollar, à 1,378 contre 1,367 avant la parution des chiffres du chômage. L’hypothèse d’un report du tapering de la Fed début 2014 devrait contribuer à la faiblesse du billet vert à court terme.
Les chiffres de l'emploi US ont affaibli le dollar par rapport à l'euro.
22/10/2013

Un ex-dirigeant d'UBS pourrait être extradé vers les Etats-Unis

Raoul Weil, ancien patron des activités mondiales de gestion de fortune d’UBS, recherché par les Etats-Unis pour complicité présumée d'évasion fiscale, a été présenté à un tribunal mardi en Italie, première étape vers une possible extradition. La justice américaine avait diffusé en 2009 un avis de recherche visant le banquier, qu’elle accuse d’avoir aidé quelque 17.000 Américains à dissimuler sur des comptes ouverts en Suisse des avoirs d’un montant global de 20 milliards de dollars. Raoul Weil avait pris la tête de l’activité de gestion de fortune d’UBS en 2007, siégeant un temps au conseil exécutif du groupe, avant d'être relevé de toutes ses fonctions dès son inculpation aux Etats-Unis en 2008, rappelle Reuters.
22/10/2013

Le Livret A enregistre sa première décollecte en trois ans

C’est une première depuis octobre 2010. La collecte du Livret A et du Livret de développement durable au titre du mois de septembre 2013 est devenue négative avec 2,08 milliards d’euros de décollecte pour l’ensemble des réseaux. Sur le seul Livret , la décollecte atteint 1,56 milliard. La collecte fléchissait de mois en mois, mais l’ampleur des retraits peut surprendre. Elle s’explique à la fois par la baisse du taux de rémunération du Livret le 1er août, passé de 1,75% à 1,25%, et par le fait que les Français ont dû piocher dans leur épargne liquide pour faire face aux dépenses de septembre.
22/10/2013

Le Bas-Rhin réalise une émission obligataire inaugurale

Le département du Bas-Rhin a levé auprès d’investisseurs institutionnels 10 millions d’euros. L’opération réalisée sur une maturité de 10 ans bénéficie d’un coupon d’Euribor 3 mois + 82 points de base. Elle constitue la première émission du Bas-Rhin dans le cadre de son programme EMTN («euro medium term notes») de 750 millions d’euros. La Société Générale était chef de file.
22/10/2013

SGSS mandaté par S.C. Fondul Proprietatea

Société Générale Securities Services (SGSS) a annoncé lundi avoir été mandaté par la société par actions S.C. Fondul Proprietatea S.A. pour agir en tant que banque dépositaire et conservateur en Roumanie. Créé en 2005 par le gouvernement roumain, la société en question a pour clients les demandeurs éligibles, qui avaient été dépossédés de leurs biens sous les anciens gouvernements communistes, et dont des parts ont été octroyées à titre de compensation. Depuis septembre 2010, la société d’investissement est géré par Franklin Templeton Investment Management Limited UK, depuis sa succursale de Bucarest.Société Générale, par le biais de sa filiale BRD, fournit des services titres en Roumanie depuis 13 ans. Quant à Fondul Proprietatea, elle se comporte comme une société d’investissement à capital fixe, sans limite de durée, enregistrée en Roumanie et se négociant sur la Bourse de Bucarest depuis janvier 2011. L’objectif d’investissement du fonds est une appréciation du capital à long terme via des placements principalement en actions roumaines, dans le strict respect des principes d’investissements « valeur ». Le portefeuille est fortement exposé aux secteurs de l’électricité, du pétrole et du gaz, à travers un nombre d’entités listées et non-listées, publiques et privées, indique un communiqué.
22/10/2013

UBS releases four new ETFs on Deutsche Börse

Since 21 October, the listings on the XTF segment of the Xetra electronic platform (Deutsche Börse) includes 1,046 entries, as the UBS ETF Sicav and UBS (irl) Plc have listed three euro-hedged country equity ETFS (United Kingdom, Canada and Japan) in the former case, and one actively-managed, multi-asset class ETF in the latter.CharacteristicsName: UBS ETF - MSCI United Kingdom 100% hedged to EUR UCITS ETF (EUR) A-accBenchmark index: MSCI United Kingdom 100% hedged to EURISIN code: LU0950671239Total expense ratio: 0.40%Name: UBS ETF - MSCI Canada 100% hedged to EUR UCITS ETF (EUR) A-accBenchmark index: MSCI Canada 100% hedged to EURISIN code: LU0950673284Total expense ratio: 0.55%Name: UBS ETF - MSCI Japan 100% hedged to EUR UCITS ETF (EUR) A-accBenchmark index: MSCI Japan 100% Hedged to EURISIN code: LU0950672476Total expense ratio: 0.45%Name: UBS ETFs plc - MAP Balanced 7 UCITS ETF SF (USD) A-accBenchmark index: UBS Multi Asset Portfolio IndexISIN code: IE00B95FFX04Total expense ratio: 0.75%
22/10/2013

New ETC from ETF Securities in Frankfurt

On 21 October, UK-based ETF Securities launched a German-registered ETC on the German stock exchange, the ETFS EUR Daily Hedged Energy DJ-UBS EDSM. It is a new prpduct which is hedged on a daily basis for risks in euros, which limits the effects of currencies on the portfolios of investors, by limiting exposure to the US dollar.The ETFS EUR Daily Hedged Energy DJ-UBS EDSM is issued by ETFS Hedged Commodity Securities Limited, based in Jersey, and aims to offer investors complete exposure to returns on futures contracts on energy with daily protection against the movement of euro/dollar currency rates, replicating the Dow Jones-UBS Energy Sub-Index EUR Hedged DailySM, and offering additional returns. The index reflects the price movements on futures contracts on commodities used in the Dow Jones-UBS Commodity IndexSM, including the WTI Crude Oil, Natural Gas, Brent Crude, Unleaded Gasoline and Heating Oil.Deutsche Börse states for its part that this is the 242nd ETC to be listed on the ETC segment of its Xetra electronic platform.CharacteristicsName: ETFS EUR Daily Hedged Energy DJ-UBS EDSMISIN code: DE000A1Y7Y36Total expense ratio: 0.49%
22/10/2013

DeAWM renames one of its sustainable development funds

Effective from 21 October, the German-registered fund DWS Klimawandel (DE000DWS0DT1), or “climate change,” has become known as the DWS Water Sustainability Fund, Deutsche Asset & Wealth Management (DeAWM) has announced.The investment strategy will now focus on equities in companies throughout the value chain in the water sector. Aside from financial criteria, the management team will take into account environmental, social and governance (ESG) criteria.
22/10/2013

Asset management firms fight for their bonuses

Asset management firms are vigorously combatting proposed restrictions on their bonuses, according to a document obtained by FTfm. EFAMA proposes that managers should be able to receive three quarters of their bonuses in the year they were awarded, rather than only 60%, as suggested by the European Commission. The Efama amendment will be studied at a meeting of the European Council working group on UCITS V, scheduled for Monday.
22/10/2013

Faber to advise mandates from a Zurich firm

The Zurich-based asset management firm Premium Strategy Partners has recruited Marc Faber, who is known as Dr. Doom, to advise its mandates, Citywire Global reports. He will advise the three managers at the firm, including the co-founders Dieter Lüscher and Otto Koller, on investment decisions.
22/10/2013

Record assets for hedge funds as of the end of September

According to Hedge Fund Research, total assets under management by hedge funds worldwide as of the end of September reached their fifth consecutive quarterly record, at USD2.510trn, which represents an increase of USD94bn over the end of June.Net subscriptions totalled USD23bn, which is the highest level since second quarter 2011.The HFRI Fund Weighted Composite Index in July-September posted returns of 2.2%, bringing gains in the first nine months of the year to 5.5%, while the best results were for equity hedge strategies, which attractedUSD10.6bn in net subscriptions (assets totalled USD686bn), and event-driven, which attracted USD6.4bn in third quarter, and USD16.4bn in January-September.
22/10/2013

Mandarine Gestion appoints head of institutional development

Mandarine Gestion has appointed Denis Auclair as head of institutional development. He will lead the sales team dedicated to institutional investors at Mandarine Gestion, and will aim to develop that client segment primarily in France, Switzerland, Belgium and Luxembourg.Institutional investors represent nearly half of assets at Mandarine Gestion, which hopes to continue its development serving this client segment both in France and Europe, a statement says.Auclair previously worked at Allianz Global Investors Paris, where he was responsible for the Enterprise sector from 2007 to 2010, before being promoted to head of commercial development for France, Belgium and Luxembourg.
22/10/2013

Seung Minn leaves Allianz GI

Allianz Global Investors has replaced Seung Minn as manager of the Allianz US Equity fund (USD856m) after six and a half years, Financial News reports. Steve Bereza has become the principal manager of the fund. A spokesperson for Allianz GI has explained to FN that Minn has left the firm.
22/10/2013

iShares starts up in Portugal

Via Banco Best, iShares is opening access to Portugal for 131 of its equity and bond ETFs, which have recently been registered by CMVM, Funds People reports.
22/10/2013

More than 60% of institutional investments intermediated by consultants in 2012

New research from Cerulli Associates finds that more than 60% of institutions’ asset flows were consultant-intermediated in 2012 with the rest coming from direct sales, according to their recent survey of institutional asset managers."Given the significance of investment consultants, just over half of the asset managers we polled plan on placing an even greater emphasis on fostering consultant relationships,» states Michele Giuditta, associate director at Cerulli. «This percentage initially appeared low to us, but our discussions with institutional distribution leaders confirmed that many firms are already devoting substantial resources to these efforts and plan on continuing to do so. Finally, Cerulli reports that many investment committees are redefining their roles, delegating more of the day-to-day investment-related responsibilities to their gatekeepers, and focusing more on overall policy matters.
22/10/2013

Three promotions at Axa Real Estate IM

AXA Real Estate Investment Managers has announced key new appointments to strengthen its management team, particularly in the Alternatives business unit. Riccardo Dallolio, who joined AXA Real Estate in 2011 as head of European transactions, will become sector head of alternatives and will be responsible for overseeing AXA Real Estate’s Alternatives Business Line. This new business unit was launched by AXA Real Estate in October 2012 in response to increasing demand from investors for exposure to alternative assets such as healthcare and student accommodation and is now being expanded to include hotels, data-centres, residential, forest and other specific situations. Laurent Jacquemin, who is currently global head of corporate finance and has over 14 years’ experience in the real estate industry will replace Riccardo as head of European transactions. Philippe de Martel will be promoted from head of corporate finance France to replace Laurent as global head of corporate finance.
22/10/2013

SocGen appoints a new head for the Middle East

Société Générale on Monday, 21 October announced the appointment of Richad Soundardjee as head of the Société Générale group for the Middle Eastern region. He will also be head of Société Générale Dubai. He replaces Eric Wormser, who will assume a new role in the Group. Soundardjee will aim to develop the activities of Société Générale, and to strengthen its presence in the region, and particularly the Gulf countries. Soundardjee will be based in Dubai, and will report to Slawomir Krupa, head of the finance and investment bank, private banking, asset management, and securities professions for the Central and Eastern Europe, Middle East and Africa region. Dounsardjee joined Société Générale in 1994, and was previously head of capitsl markets for the CEEMEA region, since 2009.
22/10/2013

Nearly 20 money market funds have been bailed out

About 20 money market funds were bailed out by their parent companies in order to prevent them from undergoing losses during the financial crisis of 2006-2009, according to Moody’s, cited by Financial Times fund management. The revelation that 16 US money market funds received capital injections in 2010, and three other products (one of them non-US) were bailed out in 2011 come at a time when the debate over regulations in the US sector is intensifying.
22/10/2013

FundLogic admits long/short fund from Broadmark

Morgan Stanley on 14 October launched the MS Broadmark Tactical Plus UCITS Fund on the FundLogic Alternatives plc platform. The fund is managed by Broadmark Asset Management LLC, which aims for returns higher than the risk-adjusted average will lower volatility than the S&P 500, regardless of the position in the market cycle. To do that, the management team can take long and short positions on equity markets, investing primarily in futures on US equities, ETFs, and options.CharacteristicsName: MS Broadmark Tactical Plus UCITS FundISIN code: IE00BC1JD990Ticker: FLBTB1U:IDSales licenses: France, Italy, United Kingdom, Spain; in progress: Germany and Switzerland
22/10/2013

Euro-hedged share class in STHY ETF from Pimco/Source created

The two asset management firms Pimco (Allianz group) and Source on 21 October announced the creation of a share class hedged for currency risks in euros for their ETF PIMCO Short-Term High Yield Corporate Bond Index Source (ticker: STHY), a fund whose benchmark currency is the US dollar, and which has already reached USD550m in assets, though it was launched only in March 2012.The fund, listed on the London Stock Exchange, replicates the BofA Merrill Lynch 0-5 Year US High Yield Constrained Index, a broad benchmark covering more than 800 corporate bonds denominated in US dollars. The euro-hedged shares carry a total expense ratio of 0.60%, compared with 0.55% for shares in US dollars.
22/10/2013

Schroders adds cat bonds fund to its GAIA platform

Daniel Ineichen, manager of the NGAR Secquaero ILS Fund since May 2011, will manage the new Schroder GAIA Cat Bond Fund, which joins the UCITS-compliant hedge fund platform GAIA (Global Alternative Invesment Access).The new product, which on 21 October merged with the NGAR Secquaero ILS Fund from Secquaero Advisors, will invest at least 80% of its assets in catastrophe bonds and insurance-linked securities (ILS). Schroders states that the portfolio will be primarily exposed to regions with a high concentration of high net worth insurance clients, such as the United States, western Europe and Japan.The objective is to outperform the Libor 3-month in US dollars by 600 basis points per year, after fees. Schroders states that the NGAR Secquaero ILS Fund has a track record of 7.27% per year since its launch on 15 August 2011.The GAIA platform currently has asets of EUR2.5bn. It will soon have seven funds, of which five are external (Schroder GAIA CQS Credit, Schroder GAIA Egerton Equity, Schroder GAIA Sirios US Equity, Schroder GAIA Avoca Credit (which is expected to be launched on 7 November) and the Schroder GAIA Cat Bond) and two in-house funds (Schroder GAIA Global Macro Bond and Schroder GAIA QEP Global Absolute).
22/10/2013

Lyxor lists new ETF in Paris

NYSE Euronext has announced that it has admitted a new ETF to trading on the Paris stock exchange from Lyxor Asset Management, bringing the number of these products listed on the European markets of NYSE Euronext to 656. The number of primary listings now totals 566.CharacteristicsName: Lyxor ETF LTM PEABenchmark index: MSCI Emerging Markets Latin AmericaTicker: LTMPTotal expense ratio: 0.65%

Sujets d'actualité

Tous les sujets