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10/04/2013

CGPI: Natixis Assurances Partenaires jette l'éponge

Natixis Assurances Partenaires, filiale de Natixis Assurances, a annoncé hier qu’elle arrête son activité de développement sur le marché des conseillers en gestion de patrimoine indépendants (CGPI) et des partenariats grands comptes, rapporte sur son site L’Agefi Actifs. La compagnie n’a pas respecté son plan de marche en terme de croissance des encours actuellement de 720 millions d’euros.
10/04/2013
Fonds

A Plus Finance lance deux fonds dédiés au financement des PME françaises

A Plus Finance a annoncé mardi le lancement de deux fonds destinés au financement des PME françaises via une offre mêlant actions et dette. Le premier est un FIP dédié au financement de la transmission d’entreprises. Profitant d’une tendance nette constatée dans les cessions d’entreprises de petite taille en France, l’équipe de gestion a pour vocation de permettre à l’actionnaire de la société de la transmettre majoritairement à ses descendants, ses cadres dirigeants ou un repreneur externe. L’originalité du FIP provient de sa capacité à proposer au nouveau management des solutions de financement en dette et en capital, ce qui sécurise l’opération et la rend moins coûteuse, indique un communiqué.Le second fonds, A Plus Innovation 2013, a pour objectif d’investir dans des PME issues des centres de recherche et des incubateurs. Les premiers sont souvent à l’origine de PME disposant d’un haut degré de technologie. Outre le potentiel de croissance sur des marchés nouveaux, ces entreprises détiennent de fait des actifs incorporels importants (brevets, savoir-faire, …). Pour leur part, les incubateurs offrent aux entreprises un accompagnement professionnel qui les met sur le chemin d’une croissance validée par une R&D et une mise en marché déjà effective. Pour les particuliers, ces produits autorisent une réduction d’ISF au taux maximum de 50% des montants investis, rappelle A Plus Finance.
Fonds
10/04/2013

Janus crée un poste de CIO actions et allocation d'actifs

Après avoir été president et chief investment officer de Munder Capital Management puis, pendant six ans CIO et executive vice president d’American Century Investments, Enrique change va rejoindre en septembre, après sa «gardening leave», Janus Capital Group au poste nouvellement créé de CIO equities & asset allocation.Il sera subordonné à Richard Weil, CEO.En tant que CEO pour les actions, il prend la suite de Jonathan Coleman, qui a demandé à se focaliser sur la gestion de portefeuille et qui a été nommé head of growth equities.
10/04/2013

Un nouveau directeur commercial chez Ecofi Investissements

Ecofi Investissements a annoncé la nomination de Laurent Vidal à compter du 4 février au poste de directeur commercial. Il est également membre du comité de direction. Âgé de 42 ans, Laurent Vidal était directeur des activités de Clearing chez Calypso.Il a précédemment occupé les fonctions de directeur commercial au sein de State Street et de Sungard et de responsable obligataire chez Nyse-Euronext, indique un communiqué.
10/04/2013

Blackstone compte muscler Capital Trust

Spécialiste des titrisations hypothécaires commerciales, Capital Trust a notifié à la SEC son intention d’augmenter son capital de 100 millions de dollars. Or, rapporte The Wall Street Journal, Capital Trust est passée sous le contrôle de Blackstone l’an dernier, et le capital-investisseur devient ainsi le dernier en date à se lancer sur le créneau des spécialistes du crédit hypothécaire sans statut bancaire.
10/04/2013

Blackstone compte muscler Capital Trust

Spécialiste des titrisations hypothécaires commerciales, Capital Trust a notifié à la SEC son intention d’augmenter son capital de 100 millions de dollars. Or, rapporte The Wall Street Journal, Capital Trust est passée sous le contrôle de Blackstone l’an dernier, et le capital-investisseur devient ainsi le dernier en date à se lancer sur le créneau des spécialistes du crédit hypothécaire sans statut bancaire.
10/04/2013

NiXEN Partners nomme un directeur associé

Intervenant dans le secteur du capital évolution,la société NiXEN Partners (634 millions d’euros d’actifs sous gestion) qui résulte du spin-off du pôle MidCap France du groupe Natixis Private Equity a annoncé mardi la nomination au poste de directeur associé de Vincent Houlot. Âgé de 37 ans, le nouveau promu a rejoint NiXEN Partners en 2002 et a participé notamment aux opérations réalisées sur Aerocan (aérosols en aluminium), Asteelflash (sous-traitance électronique), Ceva (santé animale), Malherbe (transport), Saverglass (bouteilles en verre haut de gamme), Titanobel (explosifs pour applications civiles), précise un communiqué.
10/04/2013

Head of Azimut earns a stable income

P { margin-bottom: 0.08in; } Pietro Giuliani, the chairman and CEO of the Italian asset management firm Azimut, earned an income of EUR1.49m for the 2012 fiscal year, Bluerating reports. This is in line with the previous fiscal year.
10/04/2013

Merger on the cards in online currency trading

P { margin-bottom: 0.08in; } Agefi reports that FXCM has proposed a buyout of Gain Capital Holdings for USD210m in shares. The operation would merge the two largest US players in online currency trading.
10/04/2013

Janus creates a position for a CIO for equities and asset allocation

P { margin-bottom: 0.08in; } After serving as president and chief investment officer at Munder Capital Management, and then for six years as CIO and executive vice president of American Century Investments, Enrique Change will be joining Janus Capital Group in September, following a gardening leave, in the newly-created position of CIO for equities & asset allocation.He will report to Richard Weil, CEO.As CEO for equities, he succeeds Jonathan Coleman, who has asked to focus on portfolio management, and has been appointed as head of growth equities.
10/04/2013

Ecofi Investissements gets a new head of sales

P { margin-bottom: 0.08in; } Ecofi Investissements has announced the appointment of Laurent Vidal as director of sales from 4 February. He also becomes a member of the board of directors. Vidal, 42, was director of clearing activities at Calypso. He previously served as director of sales at State Street and Sunguard, and head of bonds at NYSE-Euronext, a statement says.
10/04/2013

UBS creates an international sales team dedicated to hedge funds

P { margin-bottom: 0.08in; } As part of the creation of an international sales team dedicated to hedge funds at UBS, Thomas Anglin, director of sales to these clients in Australia, will move to New York. According to Finews, citing the Wall Street Journal, Anglin and his colleague, Fred Liljewall, will be overseen by Matt Foulds, director of Equity Distribution. The team will be reinforced in the next few months.
10/04/2013

Axa IM releases Global Optimal Income fund in Germany

P { margin-bottom: 0.08in; } BaFin has issued a sales license for Germany to the all-weather Global Optimal Income sub-fund of its Luxembourg Sicav Axa WF, Axa Investment Managers announced on 9 April (see Newsmanagers of 26 March).
10/04/2013

Fidelity adds a seventh fund to its FAST range

P { margin-bottom: 0.08in; } With the Luxembourg-registered Asia Fund sub-fund, Fidelity Worldwide is adding a seventh fund available in France to the Luxembourg Sicav Fidelity Active Strategy (FAST). The product, launched in late January 2013, had assets of USD24m as of 31 March. It is aimed at clients likely to be able to meet a minimal subscription of USD50,000.Like other FAST funds (USD5bn in total assets), net exposure to equities may total 135% of active assets for the long allocation, and 30% for the short portion, while the range may not be assimilated into 130/30 portfolios, as the managers short only strong convictions, but are not required to remain constantly short. In normal market conditions, net exposure to equities for the entire portfolio will range from 90% to 110% of assets.As Alex Homan, investment director, explained in a presentation in Paris, the decisive element for FAST products is the selection of equities, not the market timing. For his part, Suranjan Mukherjee, portfolio manager, said the Asia fund management team, can rely on the support of 42 on-site analysts. It uses options only to express an opinion on shares, and tracking error as of the end of February was limited to 2.9%. Net exposure to equities was 105.1%.CharacteristicsName: FAST Asia FundISIN code: LU0862795175Management commission: 1.50%
10/04/2013

Axa IM launches a SmartBeta fund of international corporate bonds

P { margin-bottom: 0.08in; } Axa Investment Managers has announced that it has added to its SmartBeta product range with the release of a new fund investing in international corporate bonds. Axa World Funds (WF) Global SmartBeta Credit Bonds, which is aimed primarily at institutional investors, is managed by Damien Maisonniac in Paris. The fund, created on 15 January 2013, complies with the European Union’s UCITS IV standards, and is domiciled in Luxembourg. The fund applies a “strategic buy and hold” strategy, which “aims for capital increase while avoiding default and turnover risks,” a statement says. AXA IM has over EUR300bn in bond assets under management (as of 30 December 2012). Axa WF Global SmartBeta Credit Bonds is available from a minimal investment of EUR5m, and is available in the following currencies: euro, USD, GBP, CHF and AUD.
10/04/2013

Pepijn Heins leaves Eaton Vance

P { margin-bottom: 0.08in; } In a letter sent to investors by Niall Quinn, managing director and CEO of Eaton Vance Management (International) Ltd., the asset management firm has announced that its head of business development for Europe, Pepijn Heins, has decided to leave the business, Investment Europe reports.Until a successor can be appointed, the responsibilities of the outgoing man will be provisionally assumed by Sebastian Vargas, business development director, and Stephen Tilson, senior international sales & client service analyst.
10/04/2013

Simon Klein joins Deutsche AWM

P { margin-bottom: 0.08in; } The former head of ETFs in Europe and of development, ETFs and tracker products, at Lyxor Asset Management, Simon Klein, has been appointed to the newly-created position of head of ETF & ETC sales for Europe, the Middle East, Africa and Asia in the asset and wealth management (AWM) division of Deutsche Bank, which he joined in January (see Newsmanagers of 10 December).Klein will report to Thorsten Michalik head of passive, global client group at Deutsche AWM.
10/04/2013

Profits recover at Deka in 2012

P { margin-bottom: 0.08in; } “Economic profits” (pre-tax profits according to IFRS accounting standards, plus proceeds from valuation of financial instruments) at Deka last year rose 35.6% to EUR519.3m, while they had fallen 58.6% in 2011, to EUR383.1m.The news confirms predictions by Georg Fahrenschon, chairman of the German federation of savings banks (DSGV) a month ago (see Newsmanager of 7 March), but total assets as of the end of December totalled EUR158.3bn, down from th EUR162.6bn announced at the time. This total nonetheless represents an increase of EUR7.3bn compared with the end of 2011, due to market appreciation.The central asset management firm for the German savings banks last year nonetheless underwent net outflows (excluding ETFlab, the ETF affiliate) of EUR231m, compared with EUR5.861bn in 2011. Institutional activities brought in a net inflow of EUR2.3bn, compared with EUR0.4bn, while retail suffered net redemptions of EUR2.5bn, compared with EUR6.2bn the previous year.The primary contributor to subscriptions from all categories of clients combined was the real estate unit, which posted net inflows of EUR1.6bn, compared with EUR1bn in 2011. Deka states that for open-ended funds, fourth quarter brought net inflows of EUR1.8bn, compared with net outflows of EUR3.6bn in the first nine months of the year.
10/04/2013

ACMBernstein rationalises distribution in Germany

P { margin-bottom: 0.08in; } ACMBernstein is now pooling its funds and institutional distributions for Germany and Austria under the single leadership of Martin vom Hagen, Institutional Money reports. Georg von Kyd-Rebenburg, a member of the board responsible for fund distribution, is leaving the business.
10/04/2013

VelocityShares lists 3 emerging market ETFs

P { margin-bottom: 0.08in; } The US asset management firm VelocityShares, which is known primarily for its ETN and leveraged products, has launched three ETFs on NASDAQ, Index Univese reports. They are products focused on emerging markets, which invest in “relatively liquid” ADRs listed in London. The three funds each charge fees of 0.65%. The ETFs are as follows: •VelocityShares Emerging Markets Depositary Receipt ETF (ticker: EMDR)•VelocityShares Russia Select Depositary Receipt ETF (RUDR)•VelocityShares Emerging Asia Depositary Receipt ETF (ASDR)
10/04/2013

Absorption of Banif triggers a reshuffle at Santander

P { margin-bottom: 0.08in; } The integration of the Banif private bank (EUR31bn in assets) into Santander has resulted in a modification of the structures of the latter, which is planning to rename its commercial banking division as “banca comercial, España,” led by Enrique García Candelas, CEO. The division includes corporate, retail and private banking, Funds People states.The private banking unit includes the activities of the private bank of the commercial network, as well as Banif. It is led by Edouardo Suárez, who had previously been head of Banif.Asset management will continue to be led by Javier Marín.
10/04/2013

Grant Leon leaves Aberdeen for Capital Group

P { margin-bottom: 0.08in; } The US firm Capital Group has announced that it has recruited Grant Leon as head of sales. He will be based in London, and will work with global, regional and local financial institutions, Funds People reports. Leon has spent 15 years at Aberdeen Asset Management, most recently as head of global financial institutions.
10/04/2013

Ignis posts GBP1.6bn in inflows in 2012

P { margin-bottom: 0.08in; } The British firm Ignis Asset Management has reported a net inflow for the 2012 fiscal year of GBP1.6bn, according to final results released on 5 April.Assets under management as of the end of December totalled GBP68.3bn, Ignis states, while for mandates won in 2012, it will integrate an allocation of GBP1.6bn during the year.Ignis has also recruited Mira Bhogaita as a portfolio manager in the team dedicated to British equities, Fundweb states.Bhogaita had previously worked at LV=Asset Management as a British equity portfolio manager for the LV=Group retirement programme.She will report to Graham Ashby, head of British equity activities, and will oversee a team of eight managers, responsible for about GBP5.9bn in assets for retail and institutional clients.
10/04/2013

New director of marketing for Sarasin & Partners

P { margin-bottom: 0.08in; } Fundweb reports that Sarasin & Partners has recruited Sarah McCarthy as head of marketing. She had previously been executive director at Goldman Sache Asset Management, and previously served as senior marketing manager at Fidelity Worldwide Investment.
10/04/2013

Adam Cordery of Schoders joins Santander AM

Santander Asset Management, Grupo Santander’s asset management unit, has appointed Adam Cordery as Global Head of European Fixed Income within its global investment team.Cordery joins Santander Asset Management having previously worked at Schroders where he was in charge of building portfolios and managing European fixed income funds in Euros and Sterling. With over 15 years’ experience in the industry, Cordery will be responsible for Santander Asset Management’s European fixed income and credit teams across all of the European countries in which the company operates. These teams are currently made up of 17 professionals, responsible for over €13 billion of assets under management through different investment vehicles (investment funds, pension and institutional mandates).
10/04/2013

Brevan Howard recruits a currencies specialist

P { margin-bottom: 0.08in; } Brevan Howard Asset Management has recruited Neilan Gavender, a former currency trader and senior fixed income specialist at Credit Suisse, as a portfolio manager in London, according to reports in Financial News. He left Credit Suisse in March.
10/04/2013

Le fossoyeur de la Barings retrouve un emploi dans la finance

Le Figaro rapporte que Nick Leeson, l’ex-trader britannique de Singapour qui avait provoqué la ruine de la banque Barings, a été recruté par un cabinet de conseil financier irlandais spécialisé dans la renégociation des crédits.Avant de refaire sa vie en Irlande, Nick Leeson est resté quatre ans en prison à Singapour, a vaincu le cancer, a divorcé, a écrit un best-seller, a inspiré un film et a dirigé un club de foot, précise le quotidien.
10/04/2013

Redressement du bénéfice de Deka pour 2012

Le bénéfice économique (bénéfice aux normes IFRS avant impôt, plus résultat de la valorisation des instruments financiers) de Deka a gonflé l’an dernier de 35,6 % pour remonter à 519,3 millions d’euros alors qu’il avait plongé de 58,6 % en 2011 à 383,1 millions.Cela confirme les propos de Georg Fahrenschon, président de la fédération des caisses d'épargne allemandes (DSGV) il y a un mois (lire Newsmanagers du 7 mars), mais l’encours total à fin décembre est ressorti à 158,3 milliards d’euros fin décembre, au lieu des 162,6 milliards annoncés à l'époque. Ce total représente néanmoins une augmentation de 7,3 milliards d’euros par rapport à la fin de 2011, grâce à l’effet de marché.En effet, le gestionnaire central des caisses d'épargne a encore subi l’an dernier (hors ETFlab, la filiale ETF) des sorties nettes de 231 millions d’euros contre 5.861 millions en 2011. De fait, l’activité institutionnelle a permis de collecter en net 2,3 milliards d’euros contre 0,4 milliard pendant que le retail accusait des remboursements nets de 2,5 milliards d’euros contre 6,2 milliards l’année précédente.Le principal contributeur aux souscriptions, toutes catégories de clientèle confondues ,a été le pôle fonds immobiliers, qui a collecté 1,6 milliard d’euros en net contre 1 milliard en 2011. Deka précise qu’en ce qui concerne les fonds offerts au public, le quatrième trimestre s’est soldé par des rentrées nettes de 1,8 milliard d’euros contre des sorties nettes de 3,6 milliards pour les neuf premiers mois de l’année.
10/04/2013

Pepijn Heins quitte Eaton Vance

Dans un courrier adressé aux investisseurs par Niall Quinn, managing director et CEO d’Eaton Vance Management (International) Ltd, le gestionnaire annonce que son head of business development Europe, Pepijn Heins, a décidé de quitter l’entreprise, rapporte Investment Europe.En attendant qu’un successeur soit nommé, les fonctions exercées par le partant seront assurées provisoirement par Sebastian Vargas, business development director, et Stephen Tilson, senior international sales & client service analyst.
10/04/2013

Un ancien de la FSA prend la tête de Nomura Europe

Jeremy Bennett, ancien conseiller senior auprès du régulateur britannique FSA (supprimé en début de mois pour laisser place aux deux nouveaux organismes FCA, Financial Conduct Authority et PRA, Prudential Regulation Authority), a trouvé un nouveau poste. Il sera dorénavant CEO Europe, le Moyen-Orient et l’Afrique de la banque d’investissement japonaise Nomura, indique le Financial Times. Il occupait déjà un poste non exécutif au sein du conseil de Nomura au cours des trois dernières années.

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