Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
14/08/2013

SAC Capital closes a hedge fund

The alternative management firm SAC Capital Advisors has closed one of its hedge funds, Parameter Capital Management, which had managed assets for the group since 2010, the news agency Reuters reports. A flood of lawsuits against SAC Capital has doubtless contributed to this development, although Parameter’s performance is otherwise satisfactory, with gains of over 10% since the beginning of the year, according to sources cited by the agency. One of the heads of the team at Parameter, Anil Stevens, will create his own fund, and plans to recruit a considerable part of the team which had worked with him.
14/08/2013

Carl Icahn s'invite au capital d'Apple

L’investisseur activiste Carl Icahn, également actionnaire de Dell, a annoncé le 13 août sur son compte Twitter détenir une « importante » participation dans le capital du groupe américain Apple, rapporte Les Echos. « Nous pensons que l’entreprise est extrêmement sous-évaluée », a-t-il déclaré. Il souhaite une augmentation du programme de rachats d’actions qui porte déjà sur 60 milliards de dollars. L’action a terminé en hausse de 4,75 % à la Bourse de New York.
14/08/2013

CFTC investigates aluminium price manipulation

The Commodity Futures Trading Commission (CFTC), a federal agency which regulates commodity prices, has launched an investigation to determine whether banks such as Goldman Sachs and JP Morgan knowingly manipulated storage prices for several metals, including aluminium, Les Echos reports. The initiative comes in response to complaints filed by the agribusiness industry, including Coca-Cola and the Beer Institute, which represent brewers. They suspect that major players in the storage of metals (banks and traders) lengthened delays more than necessary in order to serve inflated storage bills.
14/08/2013

Fed warns against leveraged ETFs

Leveraged ETF trading in times of high volatility could trigger a crash of US equity markets, the Federal Reserve has warned, according to the Financial Times. “Rebalancing by leveraged ETFs in response to a large market move could amplify the move and force them to further rebalance, which may trigger a ‘cascade’ reaction,” says Tugkan Tuzun, an economist at the Fed.
14/08/2013

Lyxor hedge fund index up 1.32% in July

The Lyxor Hedge Fund Index posted a positive performance of +1.32% in July, according to the latest Alternative investment industry barometer published by Lyxor. Year to date, the index gains 3.19%.Eleven Lyxor Strategy Indices out of 14 ended the month of July in positive territory, led by the L/S Equity - Long Bias (+3.08%) and the Event Driven - Special Situation Index (+2.63% and +7.20% YTD).
14/08/2013

William Ackman resigns

J. C. Penney announced in a statement on 13 August that William Ackman, head of the investment fund Pershing Square Capital Management, had resigned from the board of directors, effective immediately. Ackman, a shareholder in the US retail group with a stake of about 18%, sent a letter to the media last week in which he called for the departure of the current CEO of the firm, Myron Ullman. The board of directors at JC Penney has co-opted Ronald Tysoe, who for 16 years served as vice-president of Federated Stores, now Macy’s. The board has stated that it plans to appoint another “highly qualified” person to join the firm in the near future.
14/08/2013

Proportion of inflows from Asian funds down worldwide

Funds domiciled in Asia in first half recorded net inflows of USD52.6bn, but their contribution to global net inflows was virtually halved compared with the first half of 2012, to 11%, Asian Investor reports, citing Strategic Insight. Heavy redemptions from money market funds in China and India dragged down the sector. Assets in funds domiciled in Asia totalled USD1.9rn as of the end of June.
14/08/2013

Latin American real estate has momentum

A growing number of real estate funds are taking an interest in Latin America. A record number of 14 real estate funds dedicated to the Latin America are currently on the market. These funds are seeking to place about USd3.8bn, according to data from Preqin. Brazil is the country most often targeted by real estate managers. Of the USD9.3bn raised by funds dedicated to Latin America in the period 2009-2013, a total of USD6.4bn has been raised by the 17 funds dedicated to Brazil.
14/08/2013

Ed Moisson of Lipper joins Barings

Ed Moisson has joined Baring Asset Management as business development analyst, a new role, effective immediately. He joins from Lipper where he held a number of senior research roles. Most recently he was head of UK and Cross-Border Research,responsible for providing analysis of UK and pan-European activities, specialising in research into flows and general industry trends. At Barings, Ed Moisson will have global responsibility for working with the sales teams to identify trends and opportunities in the market, along with providing general market analysis and insight on the mutual fund and institutional business. He is based in London and reports to David Stevenson, head of product and business development.
14/08/2013

Skandia hires a head of marketing

Skandia has recruited Alistair Campbell as head of investment marketing, Money Marketing reports. He had previously been head of marketing of regional clients at Standard Life Investments.
14/08/2013

Piquant Technologies becomes first UK hedge fund to comply with AIFM directive

The quantitative hedge fund Piquant Technologies, a newcomer to the UK market, has become the first British hedge fund to comply with the AIFM directive, which came into force on 22 July, Investment Europe reports. Kinetic Partners, which assisted the hedge fund in the effort, says that the process of seeking a license from the British FCA took only three weeks.
14/08/2013

Martin Currie posts its first loss in 132 years

The asset management firm Martin Currie Investment Management, based in Edinurgh, has reported pre-tax losses for 2012 of GBP9.3m, its first loss since its inception in 1881, after profits of GBP7.7m in 2011, the news agency Bloomberg reports. The loss comes as the result of the closure of a Chinese hedge fund managed by Martin Currie last year, which was fined USD14m by US and British regulators over conflicts of interest. Martin Currie has lost clients, and its assets under management as of the end of July totalled GBP5.5bn, compared with GBP10.1bn as of summer 2011. Martin Currie returned to profitability in first half, according to its CEO, Willie Watt, and inflows have begun to rise.
14/08/2013

Neuberger recruits a manager from JP Morgan AM

Neuberger Berman has recruited Jon Jonsson as a senior portfolio manager for global bond strategies, Fund Web reports. Jonsson had recently been head of aggregate strategies at JP Morgan Asset Management, where he had worked for 15 years.
14/08/2013

Aviva Investors recruits a Barings high yield manager

Aviva Investors has recruited the bond manager Sunita Kara from Barings, Citywire reports. She will have an senior role in the European high yield fund team, in London. Her recruitment comes as part of an effort at Aviva Investors to add to its European high yield team.
14/08/2013

Invesco converts two funds

Invesco has renamed and transformed two quantitative funds into low-volatility funds. The Invesco U.S. Quantitative Core Fund and the Invesco Global Quantitative Core Fund have become the Invesco Low Volatility Equity Yield Fund and the Invesco Global Low Volatility Equity Yield Fund, respectively The two funds will continue to be managed by the quantitative teams at Invesco. They come in addition to the low volatility range from the firm, which already includes ETF, and represents USD5bn.
14/08/2013

Fidelity adds to retail alternative range

Fidelity has invested about USD1bn in the first Blackstone mutual fund, Blackstone Alternative Multi-Management Fund, which was launched last week, and which will invest in 11 hedge fund firms. It is the second liquid hedge fund which Fidelity is supporting, via its Fidelity Portfolio Advisory Services, dedicated to clients with a minimum of USD50,000 in assets to invest.
14/08/2013

Vanguard adds a manager to its Explorer fund

Vanguard has selected Stephens Investment Management Group, a small US asset management firm with USD1.5bn, to manage a part of its multi-managed Vanguard Explorer fund. This brings the number of asset management firms managing for the fund to seven. Stephens Investment Management Group will contribute expertise in small caps.
14/08/2013

French mutual funds continue post outflows

In July, French-registered mutual funds have posted growth in their assets of EUR10.3bn, to EUR754bn, according to statistics from EuroPerformance – a Six Company, cited by Agefi. This increase does not totally offset outflows in June, marked by a decline of EUR43.5bn in assets under management. It also conceals the fact that outflows from French asset management have continued, with nearly EUR1bn in redemptions (after EUR29bn in June). Net outlfows have affected virtually all asset classes, excepting money market funds (+EUR1.5bn).
14/08/2013

Satisfactory results for first half at Raiffeisen group

Assets under management at the Raiffeisen co-operative group in first half increased by 1.8% compared with the end of 2012, to a total of CHF176.3bn, according to a statement released on 14 August. Assets under management at the Notenstein bank, acquired by the group last year, have remained stable. Its revenues have fallen at the same time, largely due to a “market environment that remains difficult,” a statement says.
14/08/2013

GAM undergoes net outflows of CHF0.6bn in first half

The wealth management firm GAM has reported a net outflow of CHF0.6bn in first half 2013, though in first half 2012 they showed net subscriptions of CHF0.9bn, according to a statement published on 13 August. The market correction in June has also wiped out gains from previous months, so that first half brought a negative market effect of CHF0.6bn. However, movements on currency markets resulted in a positive impact of CHF1.6bn. Assets under management by the group as of the end of June totalled CHF116.6bn, compared with CHF116.2bn as of the end of December 2012. The group earned net profits of CHF111.7bn in first half, up 58% compared with the first six months of 2012.
14/08/2013

Malaysian pension fund seeks to double international exposure

The Malaysian public pension fund KWAP is seeking to double the exposure of its portfolio to international investments, which are set to increase from 10% currently to 20% in the next few years, Asian Investor reports. With this in mind, the pension fund, whose assets under management total about USD40bn, has scaled up its expertise in some areas, such as portfolio hedging, while outsourcing some mandates to external asset management firms. The pension fund states that it plans to develop its capacities on emerging markets, outsourcing some mandates and creating an internal team dedicated to emerging markets.
14/08/2013
ESG

Banque Cantonale de Genève : 35% des placements sont gérés selon des critères ISR

La Banque Cantonale de Genève consolide ses positions dans un environnement conjoncturel et réglementaire complexe. La persistance de taux bas, conjuguée à une croissance contenue des crédits, mènent à une stabilisation à un bon niveau des indicateurs de profitabilité. La banque affiche un bénéfice net en hausse à CHF 36.8 millions tandis que son bénéfice brut à CHF 65.4 millions reflète la croissance modérée des affaires de crédit. Le niveau de fonds propres s’accroît de 2% à CHF 1.1 milliard. La banque progresse sur l’axe de la compétitivité : les actifs gérés et administrés franchissent un nouveau cap de croissance à CHF 19.1 milliards. Elle améliore sa productivité avec des charges en baisse de 6%. Pour l’ensemble de l’exercice 2013, la banque s’attend à un niveau de rentabilité équivalent à celui de 2012. Depuis plusieurs années, la BCGE développe un concept d’investissement responsable et durable afin de favoriser auprès des investisseurs l’intégration des enjeux environnementaux, sociétaux et de gouvernance de l’entreprise (ESG ou ISR) dans le processus traditionnel d’analyse et de gestion. A ce jour, 35% des instruments de placement BCGE sont gérés selon des critères ISR, un pourcentage parmi les plus élevés en Suisse. Le total des actifs ISR représente CHF 967 millions sur les CHF 2'753 millions des fonds gérés par BCGE Asset Management. La gestion ISR de la banque s’adresse tant aux clients institutionnels sur la base de mandats, qu’aux clients privés (fonds de placement ou mandats personnalisés), ainsi qu'à la clientèle prévoyance (Fondation BCGE Epargne 3) et libre passage (Fondation de libre passage BCGE).
ESG
14/08/2013

Ralentissement des ventes de détail aux Etats-Unis

Les ventes au détail ont progressé de 0,2% en juillet alors que les économistes attendaient une hausse de 0,3%, après un chiffre révisé à la hausse en juin à +0,6%, contre une estimation initiale de +0,4%. Hors automobile, essence et construction, elles ont néanmoins progressé de 0,5% le mois dernier, selon le département du Commerce alors que les économistes avaient anticipé une hausse de 0,3%.
14/08/2013

Léger fléchissement de l’inflation britannique

La hausse des prix à la consommation a légèrement décéléré en juillet au Royaume-Uni, à 2,8% en rythme annuel, après 2,9% au mois précédent, grâce aux billets d’avions et au prêt-à-porter. Les prix immobiliers, qui n’entrent pas directement dans la composition de l’indice des prix à la consommation (CPI), ont eux augmenté de 3,1% sur un an.
14/08/2013

Les investisseurs allemands retrouvent le moral

L’indice du sentiment des investisseurs en Allemagne a rebondi plus que prévu en août pour s’inscrire à 42,0, son meilleur niveau depuis mars, selon l’enquête mensuelle de l’institut économique ZEW. Les économistes attendaient en moyenne l’indice à 40,0 ce mois-ci après sa baisse à 36,3 en juillet. Selon l’institut, l’optimisme est alimenté par le niveau de la demande en Allemagne et par les signes d’amélioration de la conjoncture dans les autres pays de la zone euro.
14/08/2013

La croissance russe annoncée à 2% en 2013

L'économie russe devrait croître d’environ 2% cette année, estime la banque centrale du pays, moins optimiste que le gouvernement, qui a retenu lui pour 2013 un PIB en hausse de 2,4%. La banque centrale pense que la croissance va ensuite s’accélérer légèrement en 2014. Moscou voit le PIB augmenter de 3,7% en 2014.
14/08/2013

La production industrielle redémarre en zone euro

La production industrielle a enregistré une hausse de 0,7% en juin en zone euro, après un recul de 0,2% (révisé de -0,3%) en mai, a annoncé Eurostat. Les économistes interrogés par Reuters prévoyaient en moyenne une hausse légèrement supérieure, à 0,8%. Sur un an, elle a augmenté de 0,3%.
14/08/2013

La demande de crédits des PME repart en France

Pour la première fois depuis le mois de novembre 2012, le solde d’opinion des banques sur la demande de crédit des entreprises est très légèrement positif, indique l’enquête mensuelle de la Banque de France. Au mois de juillet, 27,2% des banques de l’échantillon ont observé une augmentation de la demande de crédit des PME, cette proportion est nettement moins élevée (3%) pour celle des grandes entreprises.
14/08/2013

Retour anticipé à une croissance molle en zone euro

Selon le consensus des participants à une enquête menée par Reuters, le PIB de la zone euro a augmenté de 0,2% sur le deuxième trimestre de l’année, ce qui marquerait sa première progression depuis la fin de l’année 2011. Les premières estimations du PIB pour la zone euro sont attendues aujourd’hui, et s’accompagneront de celles de la France, de l’Allemagne, des Pays-Bas et du Portugal. L’Allemagne, première économie de la zone euro, devrait une nouvelle fois être le principal moteur économique de la région, les économistes anticipant une hausse de 0,6% du PIB allemand sur la période allant d’avril à juin. Mais, une fois la sortie de récession techniquement acquise, la situation ne devrait pas s’améliorer sensiblement, les économistes ne voyant pas le PIB de la région croître de plus de 0,4% sur un trimestre avant 2015, et l’inflation devrait rester largement sous l’objectif de la BCE de 2%.
14/08/2013

M&G affûte ses ambitions à Hong Kong

Selon le Wall Street Journal qui cite des sources proches, le groupe italien prévoit de lever environ 500 millions de dollars lors de son introduction à la Bourse de Hong Kong. Il suivrait ainsi les pas de Prada, la dernière société italienne a avoir choisi Hong Kong pour y coter ses actions. Ce serait une des plus grosses sociétés non chinoises cotées sur la place.

Sujets d'actualité

Tous les sujets