Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
30/05/2013

Vanguard cuts management commissions for six funds

P { margin-bottom: 0.08in; } On 28 May, Vanguard announced that it is lowering the total expense ratio to 0.10% from 0.13% for its Dividend Application ETF (ticker VIG) and cutting the fees for five traditional mutual funds.The latter include the Dividend Appreciation Index (VDAIX), whose commission is being cut to 0.20% from 0.25% for the Investor share class. Commission is reduced to 0.26% from 0.28% and 0.29%, respectively, for the Energy (VGELX, Admiral share class) and Precious Metals & Mining (VGPMX, Investor share class), to 0.29% from 0.31% for the Dividend Growth (VDGIX, Investor share class), and to 0.31% from 0.34% for the Energy fund (VGENX, Investor share class).Vanguard states that this reduction in commissions has been made possible by the positive evolution of the markets, as well as by a high volume of subscriptions. Which has allowed it to pass on economies of scale.
30/05/2013

Assets and profits up at Reyl group

P { margin-bottom: 0.08in; } As of 31 December 2012, the Geneva-based Reyl group posted assets under management of CHF7.3bn, which corresponds to an increase of 61.8% year on year. Assets in private onshore management and corporate finance have leapt 72.4%, to CHF5bn, while those at Reyl Asset Management increased 43%, to CHF2.3bn.The group has also announced that its net profits for 2012 were up 69.8% compared with the previous year, to CHF8.8m.
30/05/2013

AUM at Pictet top CHF300bn

P { margin-bottom: 0.08in; } Assets under management at Pictet as of the end of March totalled a record CHF301bn, passing their pre-crisis peak, Agefi Switzerland reports.
30/05/2013

Appointments in AM at Bank Sarasin

P { margin-bottom: 0.08in; } The Swiss private bank Bank Sarasin on 29 May announced several internal appointments to its Asset Management, Products & Sales unit. Jan A. Poser becomes head of research into asset management and sustainability, with immediate effect. Philipp E. Bärtschi is promoted to chief investment officer, Private Clients, with the mission of investment strategy and management of assets for private clients. Daniel Graf becomes head of the unit dedicated to institutional clients, with immediate effect.
30/05/2013

Natixis AM reshuffles sales team and adopts an international orientation

P { margin-bottom: 0.08in; } According to reports in Agefi, Natixis AM (NAM) will transfer most of its sales teams to Natixis Global Asset Management (NGAM), the holding company which supervises NAM, the real estate management firm AEW, and a collection of US boutiques. The objective is to significantly increase the proportion of NAM products, which remains very low. To that end, NGAM will create a new Luxembourg Sicav. The idea is also to better sell US expertise in France. 53 sales, customer service, marketing and communications professionals will in autumn begin to report to Hervé Guinamant, chairman of NGAM Distribution Internationale. At NAM, Philippe Zaouati, deputy CEO and head of socially responsible investment (Mirova), says the 130 remaining employees will primarily be dedicated to assisting the networks of BPCE, the parent company of Natixis.
30/05/2013

Blackstone withdraws its money from SAC Capital Advisors

P { margin-bottom: 0.08in; } Blackstone is planning to ask SAC Capital Advisors to redeem nearly USD400m, twice as much as had been planned at the beginning of the month, the Wall Street Journal reports, citing sources familiar with the matter. This sum represents most of Blackstone’s capital invested in SAC, sources say. This reflects growing concerns regarding the future of SAC, which is under investigation for insider trading. Although the sum of USD400m is low compared with the USD15bn under management by SAC, the decision by Blackstone is being closely watched by other clients, the WSJ comments. An institutional investor, Ironwood Capital Management, has also asked SAC Capital Advisors to redeem USD100m that it had invested in the firm.
30/05/2013

Kerry James promoted at Robeco IM

P { margin-bottom: 0.08in; } To replace Paul Healey, who will be retiring at the end of June, the US firm Robeco Investment Management has appointed Kerry James as head of institutional distribution, from 1 June. James, who since 2009 has been based in Rotterdam, where she is head of international distribution, will move to Boston. She will be responsible for institutional sales, relationships with consultants, client relationship management, and marketing. She had previously been responsible for sales of US products to institutional investors in Europe and Asia.Jan Feeney. co-CEO of Robeco IM, states that assets at the US affiliate of Robeco have increased from USD12bn at the end of 2008 to USD35bn as of the end of March 2013.
30/05/2013

KKR hires former CIA head

David Petraeus, the former U.S. Army general who resigned last year as CIA chief, is joining KKR, the giant private-equity firm, according to The Wall Street Journal. The former general will be chairman of a new internal «institute» focused on macroeconomic forecasts, communications, public policy and advice on investments in emerging markets.
30/05/2013

EdRIP prend un ticket dans le groupe MCI

La société Edmond de Rothschild Investment Partners (EdRIP) a annoncé mercredi 29 mai prendre une participation minoritaire au capital du groupe MCI au travers du fonds Winch Capital 2. MCI est spécialisé dans l’organisation de congrès scientifiques pour le compte notamment d’associations et d’institutionnels, et dans l’organisation de conférences et d’événements pour le compte d’entreprises. Le groupe possède 47 bureaux répartis dans 23 pays et a réalisé un chiffre d’affaires de 337 millions de francs suisse en 2012. Il s’agit de la quatorzième opération pour Winch Capital 2.
30/05/2013

Mirae plans to develop in Europe

P { margin-bottom: 0.08in; } The South Korean asset management firm Mirae Asset Management is planning to develop its activities in Europe in the next few months, Asian Investor reports. The chief marketing officer at Mirae, Ashley Dale, will visit Euorpe next week to evaluate needs. Mirae, whose assets under management total about USD57bn, is also preparing two ETFs for the Hong Kong market during June, which is another area of development for the asset management firm. The first ETF will replicate the MSCI China index, while the second will replicate the Hang Seng High Dividend Yield.
30/05/2013

Arrow recruits exec from Direxion

P { margin-bottom: 0.08in; } According to Mutual Fund Wire, the ETF and hedge fund management firm Arrow Investment Advisers has appointed John Cadigan as director of its sales team, with the aim of expanding into the area of broker-dealers. He will report to Jake Griffith, chairman and head of sales.The new recruit had been managing director and national sales manager at Direxion Funds since September 2011, after serving for 10 years at Rydex, which has since been integrated into Gugenheim Investments.At Direxion, Cadigan has been replaced by Steve Rudman, who joins from Pimco.
30/05/2013

CPR AM plans to build thematic product range

P { margin-bottom: 0.08in; } CPR Asset Management is seeking to strengthen its thematic product range with a new vehicle which may be launched during the month of September, Cyrille Collet, director of equity management, announced on 29 May at a press conference. The new fund will be a strategy dedicated to consumer habits, which will serve as the basis for portfolio construction.Collet has also announced that assets under management at CPR AM recently topped EUR23bn, whereas they had totalled EUR20.6bn as of the end of December 2012.As a part of this body thematic funds, which as very popular with investors, represent assets of about EUR600m. The CPR Silver Age fund, dedicated to the theme of ageing populations, has posted strong growth in less than one year, from EUR35m in September 2012 to EUR95m as of the end of December, and over EUR150m currently.
30/05/2013

Convictions explores opportunities for external growth

P { margin-bottom: 0.08in; } Convictions Asset Management, adept in active management and measured risk, is currently seeking opportunities for external growth, and may be interested in first which practice a wealth management strategy, Philippe Delienne, chairman of the asset management firm, told Newsmanagers on Wednesday.Since the beginning of the year, subscriptions and redemptions are balanced, and assets at Convictions AM remain stable, at about EUR600m.Since November 2011, the flagship fund from the firm, Premium, has earned 8%, with volatility of under 5%. Allocation to equities presently totals 30% to 40%.
30/05/2013

UBP takes over international private banking arm of Lloyds Banking Group

Union Bancaire Privée on May 29 announced that it has agreed to acquire Lloyds Banking Group’s International Private Banking business. The price of the transaction is GBP100 million. This acquisition further boosts UBP’s standing both in Switzerland and in its core growth markets, such as the Middle East and Latin America. Once the requisite regulatory licences have been granted, Monaco and Gibraltar will become part of UBP’s global footprint. The transaction will increase UBP’s assets under management, which stood at CHF 83.2 billion as at 30 April 2013, by more than CHF 10 billion. UBP’s CEO, Guy de Picciotto, stated: “This acquisition further strengthens our position at the forefront of the industry and confirms our commitment to our Bank’s two core businesses – international private banking and asset management. We look forward to welcoming Lloyds’ teams and their expertise that we will put to use on an even larger scale. With our competitive range of private banking services and investment solutions, we are bringing our proficiency as a major Swiss and international-wealth-management player to Lloyds’ private clients.”
30/05/2013

Ashburton inaugurates UCITS platform with Africa fund

P { margin-bottom: 0.08in; } The first sub-fund of the UCITS-compliant Luxembourg platform from Ashburton, an affiliate of the South African FirstRand Group based in Jersey, is the Africa Equity Opportunities Fund, which will focus on the selection of undervalued equities listed in Africa, outside South Africa. The management of the fund is provided by Paul Clark, who ensures as part of risk management that investment is made only in securities that are compatible with weekly liquidity. Characteristics Name: Africa Equity Opportunities Fund Currency of reference: USD Benchmark index: MSCI Emerging (Hurdle) Frontier Markets Africa ex. South Africa Index (USD) Minimal subscription: USD10,000 (R share class) USD100,000 (I share class) Management commission: Maximum 2% (R share class) 1.5% (I share class) Performance commission: Maximum 15% of performance exceeding the hurdle rate
30/05/2013

Change in managers for a Japanese SLI fund

P { margin-bottom: 0.08in; } Matthew Williams is leaving the management of the Japanese Sicav equity fund from Standard Life Investments, after more than 10 years, Citywire Global reports. Management will be entrusted to Shigeru Otista at Sumitomo Mitsui Trust. It will be part of an exchange of investment strategies between the Japanese asset management firm Sumitomo Mitsui Trust and Standard Life Investments, which began in 2010. In the future, all Japanese equity funds from SLI will be managed by Sumitomo.
30/05/2013

Diapason preparing forestry institutional fund

P { margin-bottom: 0.08in; } The Swiss firm Diapason Commodities Management (USD7bn in assets as of the end of December) will soon launch the ForestCare Investment Fund, aimed primarily at pension funds and other institutionals, from a minimal subscription of EUR125,000 for A shares, and EUR1m for I shares, Investment Europe reports.The portfolio will be invested in accordance with environmental, social and governance (ESG) criteria, with a multi-asset class approach to equities, bonds, forest plots located exclusively in Europe and derivatives related to forests (biodiversity credits, anti-deforestation credits, REDD and carbon credits).
30/05/2013

Sparinvest parts with two big names

P { margin-bottom: 0.08in; } In response to Das Investment, Per Noesgaard, CEO of the Danish firm Sparinvest Holding, has confirmed that the asset management firm has parted with Jan Stig Rasmussen, chairman of the managing board of the Luxembourg affiliate, and Michael Albrechtslund, CIO for Denmark and portfolio manager. The departures are related to a restructuring of the group, in which the number of companies has been reduced from five to one. In 2012, Sparinvest laid off 40 of its 155 employees.According to information obtained by Newsmanagers, the group has recruited Lars Purlund as head of international development.Sparinvest has a total of EUR9.4bn in assets under management, EUR2.6bn of it in Luxembourg.
30/05/2013

Julius Baer may found an affiliate in Bahrain

P { margin-bottom: 0.08in; } The Central Bank of Bahrain has authorized the Swiss Julius Baer group to create an affiliate in the kingdom, under the name Julius Baer Bahrain B.S.C.
30/05/2013

Rory Bateman takes over as head of UK equities at Schroders

Rory Bateman, currently head of European equities at Schroders, has been appointed head of UK and European equities with immediate effect. He replaces Richard Buxton who left the company in March after 11 years to join Old Mutual Global Investors as head of UK equities.In creating this new role, Schroders will also combine the value investing activities in the UK and Europe into one value team. Kevin Murphy, Nicholas Kirrage, Andrew Lyddon, Ian Kelly and Jamie Lowry will all report to Rory Bateman whose fund management responsibilities remain unchanged.Schroders had EUR279.7 billion as at 31 March 2013.
30/05/2013

AUM rise, but decline in profits, for Brewin Dolphin

P { margin-bottom: 0.08in; } The British firm Brewin Dolphin has seen an increase in its assets under management to GBP28.1bn in the half to the end of March, compared with GBP25.7bn one year previously, according to an interim report published on 29 May. At the same time, pre-tax profits for the half to the end of March 2013 totalled GBP6.9m, down by nearly 44% from the half to the end of March 2012. = Brewin Dolphin has also announced a placement of equities totalling GBP40m, in order to finance its growth.
30/05/2013

Former Threadneedle CEO retires

Threadneedle Investments on May 28 announced that Crispin Henderson, its former chief executive officer and current vice chairman of Global Asset Management for Threadneedle’s parent company Ameriprise Financial, will retire from the group on 31 May 2013 as he approaches his 65th birthday.Crispin Henderson joined Threadneedle in 2002 as chief operating officer, leading the finance, operations, administration and IT functions. He became managing director in 2006 and was appointed chief executive officer in 2007.
30/05/2013

La médiation financière enregistre davantage de plaintes au sujet des conseillers en gestion de patrimoine

Le service de médiation financière britannique, le «Financial Ombudsman Service» (FOS), indique selon Fundweb avoir enregistré un bon de 45 % dans le nombre de plaintes concernant les conseillers en gestion de patrimoine, reçues en 2012 (4.139 contre 2.857 un an plus tôt). Fundweb précise que les plaintes concernant les conseillers représentent moins d'1 % du total des réclamations.Les banques représentent 51 % des réclamations.
30/05/2013

FOS registers increased number of complaints related to IFAs

P { margin-bottom: 0.08in; } Fundweb reports that the British Financial Ombudsman Service (FOS) has announced that it has seen a 45% increase in the number of complaints it received concerning independent financial advisers in 2012 (4,139, compared with 2,857 one year earlier). Fundweb states that the complaints concerning advisers represent less than 1% of total claims.Banks represent 51% of claims.
30/05/2013

Les coûts d'emprunt italien à 10 ans remontent

Les coûts d’emprunt à 10 ans de l’Italie ont augmenté pour la première fois en trois mois à l’occasion d’une adjudication ce jeudi, alors que les investisseurs craignent de voir la Réserve fédérale commencer à mettre un frein à son programme d’injections massives de liquidités dans l'économie. Rome a émis pour trois milliards d’euros d’obligations à 10 ans avec un rendement de 4,14%, son plus haut niveau depuis mars. Le Trésor italien a également placé 2,75 milliards d’euros d’obligations à cinq ans, à 3,01% contre 2,84% lors de la dernière adjudication du mois d’avril sur cette échéance.
30/05/2013

Le Club de Paris détaille ses créances

Le groupe informel de créanciers a indiqué que le montant total des créances détenues par ses membres à fin 2012 s’élevait à 397,8 milliards de dollars, dont 187,9 milliards de dollars de créances d’aide publique au développement (ADP) et 209,8 milliards de créances non ADP. Le Club de Paris publie ces données chaque année depuis 2008.
30/05/2013

La Nouvelle-Zélande durcit le ton sur les changes

Le gouverneur de la banque centrale néo-zélandaise, Graeme Wheeler, a indiqué cette nuit que l’autorité était prête à augmenter la taille de ses interventions sur le marché des changes pour lutter contre un dollar local «significativement surévalué». «Nous sommes prêts à relever nos activités de change si nous voyons des opportunités d’avoir une plus grande efficacité», a ainsi dit Graeme Wheeler. La devise s’est appréciée de 4% contre le billet vert sur le seul mois de mai.
30/05/2013

Pierre Estoup mis en examen dans l'affaire Tapie

L’un des trois juges du tribunal privé qui a soldé le litige opposant Bernard Tapie au Crédit Lyonnais, a été mis en examen mercredi du chef d’escroquerie en bande organisée et faux, a annoncé le parquet de Paris. Les enquêteurs soupçonnent Pierre Estoup, magistrat à la retraite âgé de 86 ans, de liens professionnels anciens avec Maître Maurice Lantourne, l’avocat de l’homme d’affaires.
30/05/2013

Madrid enquête sur les prix du pétrole

Les autorités de la concurrence espagnoles ont lancé une enquête pour déterminer si des entreprises telles que Repsol, BP et Cepsa se sont entendues pour relever les de l’essence, procédure qui vient de rajouter à d’autres dossiers relatifs à des soupçons de manipulation des prix dans le secteur. Il y a deux semaines, la Commission européenne a elle aussi ouvert une enquête sur les prix pétroliers.
30/05/2013

La Suisse accepte un accord fiscal avec les Etats-Unis

Le gouvernement suisse va présenter au Parlement dans le cadre d’une procédure spéciale un projet de loi permettant aux banques, en collaboration avec le département américain de la Justice, de «négocier un règlement définitif du passé». Les banques pourront collaborer avec le DoJ dans un cadre prédéfini et livrer des informations sur des relations d’affaires avec des clients américains.

Sujets d'actualité

Tous les sujets