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23/01/2013

Laransa founds a wealth management affiliate

The Berlin-based asset management firm Laransa AG on 22 January announced the creation of Laransa Private Wealth Management GmbH, an independent wealth management firm aimed at high net worth clients with at least EUR500,000 in savings to invest.The new affiliate will aim to provide complete and personalised service according to the propensity of each client to risk. It will also assist clients with the selection of external advisers.Laransa PWM will charge 0.9% plus VAT on the average assets of the client, while all fees and kickbacks will be reimbursed or transferred to the client.
23/01/2013

New head for real estate unit of Lloyd Fonds

Timo Wolf, who for the past four years has been CEO of Polares Real Est Asset Management GmbH and a board member at TAG Gewerbeimmobilien AG, will on 1 March join Lloyd Fonds Real Estate Asset Management GmbH as CEO. He succeeds Hanno Weiß, who had been director of the real estate unit since 2006 and is retiring. The Hamburg-based Lloyd Fonds has 11 closed real estate funds, whose properties are all wholly leased.
23/01/2013

State Street GA launches two TA funds

In London, State Street Global Advisors (SSgA) on 22 January announced the launch of the SSgA Flexible Asset Allocation Fund and the SSgA Flexible Asset Allocation Plus Fund. The two multi-asset class products may invest in equities, bonds and alternative supports such as commodities, real estate and infrastructure.The dynamic tactical asset allocation funds will use the exclusive Market Regime Indicator (MRI) from SSgA, which allowed for market signals to be converted into indications of market sentiment.The two funds will be managed by the Investment Solutions Group at SSgA, which has some 50 investment professionals in several locations worldwide.
23/01/2013

ETF Securities lists 28 ETPs on the Swiss stock exchange

After listing its first ETFs on the SIX Swiss Exchange in September 2012, ETF Securities on 22 January added a series of 28 new ETPs, which replicate Dow Jones UBS commodity indices. All of the new products are hedged for currency risks in Swiss francs.
23/01/2013

Deka resells a property for a profit

The open-ended real estate fund WestInvest InterSelect from Deka Immobilien has resold a 16,400 square metre warehouse, office and production complex, located at Lindberghstraße 2 in Hallbergmoos (30 minutes from Munich), to a private investor. The entire area is leased to BMW.Deka Immobilien has not disclosed the sale price, but states that the fund made a gain. In addition, this allows the fund to renew its portfolio, as Lindberghstraße 2 was delivered in 1996.
23/01/2013

Ecofin approves tax on financial transactions

11 countries in the European Union obtained permission from the other member states to set up a tax on financial transactions on 22 January in Brussels at a meeting of European finance ministers. This was the last clearance the 11 countries needed to establish the tax, following permission from the European Commission in October last year, and from European Parliament in November. This is the first strengthened co-operation between the European countries in the area of taxation. France, Germany, Belgium, Portugal, Slovenia, Austria, Greece, Italy, Spain, Slovakia and Estonia will be the first signatories.
23/01/2013

ETF Securities loses its head of sales in Asia

The commodity ETF specialist ETF Securities is seeking a successor to Nigel Phelan, is head of sales for the Asia-Pacific region, who is leaving the firm to return to his native Australia for personal reasons, Asian Investor reports. The firm, based in London, is also planning further recruitments during the year. Assets under management at ETF Securities last year rose 17% to a total of USD28.9bn.
23/01/2013

Esemplia hires in London and Hong Kong

The firm affiliated with Legg Mason dedicated to emerging markets, Esemplia Emerging Markets, has recruited two investment specialists in London, and is planning recruitments in Hong Kong, Asian Investor reports. Steve Triantafilidis, previously of Vontobel Asset Management, is joining Esemplia as principal, in charge of investment. Michael Bourke, preivously of FPP Asset Management, is joining the firm as a portfolio manager for long-only strategies for global emerging market equities. Both will be based in London. Esemplia is also planning recruitments in Hong Kong, where the former CIO of Esemplia, Aquico Wen, is leaving the firm during the first half of 2013. As of the end of December 2012, assets under management at Esemplia totalled USD2.5bn.
23/01/2013

Neptune recruits a Skandia veteran

The UK asset management firm Neptune has recruited Nick Webb as head of intermediated sales for central England and East Anglia, Money Marketing reports. Webb worked at Skandia until the end of 2012 as sales manager.
23/01/2013

David Barron leaves JPMorgan AM

Investment Week reports that David Barron, head of investment trusts, has left J.P. Morgan Asset Management, where he had been responsible for 21 products, with assets of GBP6.6bn. His successor will be named “in due course,” says Jasper Berens, head of UK funds.
23/01/2013

Muzinich recruits a Schroders veteran

Muzinich & Co has recruited the emerging market debt manager Warren Hyland in London, Citywire reports. He joins from Schroders, where he had worked since 2001.
23/01/2013

Schroders trader arrested

An equity trader at Schroders, reported to be Damian Frank Clarke, and four others, were arrested on Tuesday morning as part of an investigation into insider trading by the Financial Services Authority, the Financial Times reports. The asset management firm confirmed the arrest, and stated that it has immediately suspended the individual. It adds that the FSA had told it that “the allegations relate entirely to this individual’s personal actions. Schroders is not subject to any investigation. There is no indication of any detrimental impact on our clients or financial results.”
23/01/2013

Invesco Perpetual instigates a coup at Stobart

The Times reports that Invesco Perpetual has led an investor coup, which has replaced the longstanding chairman at the transport firm Stobart, Rodney Baker-Bates, with Avril Palmer-Naunack, former CEO of Autologic. Palmer-Baunack becomes full-time executive chairman, and now runs the firm with CEO Andrew Tinkler.Stobart one week ago announced a profit warning and that its chilled distribution activities would be discontinued.Invesco Perpetual holds 37% of capital in the firm, whose non-executive chairman, David Beever, is also leaving his job.
23/01/2013

New hedge fund slashes its fees

The hedge fund Core Macro, founded by Cantab Capital in Cambridge, has reduced its fees from 0.5% of capital invested each year and 10% of gains, compared with a standard rate of 2% and 20% in the sector, the Financial Times reports. The fund uses the same strategies as Man Group, Winton Capital and BlueCrest. The FT reports that hedge funds will need to revise their fee structures in coming years, under pressure from institutional investors.
23/01/2013

JP Morgan AM adds to its product range in Italy

JP Morgan Asset Management has launched share classes which pay a periodical coupon (of a predefined amount in euros) for three of its products: JPM Global Strategic Fund, JPM Italy Flexible Bond Fund, and JPM Income Opportunity Fund, Bluerating reports. The coupon will be distributed on a quarterly basis.
23/01/2013

BNP Paribas RE teams up with a real estate service provider in Hungary

BNP Paribas Real Estate has formed an alliance with the Robertson company to extend its range of services in Hungary. Robertson is one of the largest providers of real estate services in Hungary, able to assist clients throughout the territory. The new partnership includes Transaction, Consulting and Expertise in the areas of office and commercial property, a statement says.
23/01/2013

Le projet de référendum britannique sur l'Europe ne fait pas l'unanimité

Londres ne peut pas choisir à sa guise les seules contraintes qui lui conviennent du fait de son appartenance à l’Union européenne, s’est inquiété le ministre allemand des Affaires étrangères, Guido Westerwelle, après l’annonce du Premier ministre britannique David Cameron de vouloir soumettre à référendum, après 2015, la question de l’appartenance de la Grande-Bretagne à l’UE, s’il gagne les élections législatives. Lui-même entend mener campagne en 2015 en promettant une renégociation des termes de l’appartenance de la Grande-Bretagne, solution qu’il privilégie à une sortie pure et simple. La crise de la dette dans la zone euro, à laquelle la Grande-Bretagne n’appartient pas, est une des principales raisons de l’exigence d’une renégociation.
Légende : Discours de David Cameron, le 23 janvier 2013. Photo : Matthew Lloyd/Bloomberg
23/01/2013

La Banque d'Angleterre est un peu plus divisée sur les rachats d'actifs

Les membres du comité de politique monétaire de la Banque d’Angleterre sont de moins en moins convaincus de l’opportunité de reprendre le programme d’assouplissement quantitatif, selon le compte-rendu, publié mercredi, de leur dernière réunion des 9 et 10 janvier. Alors que David Miles a maintenu son vote en faveur d’une légère augmentation des rachats d’actifs à 400 milliards de livres (476 milliards d’euros) contre 375 milliards jusqu’ici, d’autres membres du comité ont dit qu’ils étaient plus convaincus que cela n'était pas nécessaire.
23/01/2013

La récession s'accélère en Espagne

Le produit intérieur brut (PIB) de l’Espagne devrait s'être contracté de 0,6% au quatrième trimestre 2012 par rapport au trimestre précédent, après une contraction de 0,3% en juillet-septembre, estime la Banque d’Espagne dans son rapport mensuel publié mercredi. Il s’agit de la pire performance trimestrielle depuis le deuxième trimestre 2009, rappellent les économistes d’ING. La statistique officielle sera publiée le 30 janvier. Sur un an, le PIB a reculé de 1,7% au quatrième trimestre.
23/01/2013

Le retour du Portugal sur le marché reçoit un bon accueil

Le retour du Portugal sur le marché obligataire, via la réouverture de son emprunt à 4,35% d'échéance octobre 2017, recontre un bon accueil. L'émission aurait suscité une demande de plus de huit milliards d’euros. Le prix d'émission définitif sera fixé dans la journée. Le spread d'émission a été ramené autour de 400 points de base au-dessus de la courbe des swaps, contre 410 points initialement. Il s’agit de la première émission du souverain depuis le début du plan d’aide international en 2011.
23/01/2013

Euler Hermes prévoit une reprise progressive de l'économie mondiale en 2013

Euler Hermes prévoit une reprise progressive de l’économie mondiale, mais seulement à compter du second semestre 2013. Sur l’ensemble de l’année, le PIB mondial devrait connaître une croissance modeste de 2,5% par rapport à 2012 (+2,4%). La zone euro devrait rester en récession en 2013 et accuser une contraction de 0,1% de son PIB (après -0,5% en 2012).
23/01/2013

La banque privée Bordier se développe en France

Bordier & Cie France, la filiale française de la banque privée genevoise, a enregistré une progression de 17% en 2012 des encours dont elle assure la gestion ou le conseil, pour atteindre 323 millions d’euros contre 275 millions fin 2011. Cette croissance de 48 millions des actifs s’explique à hauteur de 16 millions par un effet performance et le solde, soit 32 millions d’euros, par la collecte nette.
23/01/2013

AEW Europe a levé 1,8 milliard d'euros l'an dernier

Le gestionnaire d’actifs immobiliers a levé 1,8 milliard d’euros de capitaux en 2012, dont 1,2 milliard de nouveaux mandats, soit +13% par rapport à 2011 sur l’ensemble de ses stratégies de fonds, de mandats grands comptes et clubs deals. AEW Europe a notamment lancé avec succès un fonds de dette, Senior European Loan Fund, en partenariat avec Natixis Asset Management, avec un premier closing de 240 millions d’euros. Un nouveau closing est prévu, qui devrait permettre au fonds d’atteindre sa taille cible de 500 millions. En 2012, le groupe a réalisé 1,2 milliard d’acquisitions, dont la tour EDF à La Défense, et cédé pour 800 millions d’euros d’immeubles.

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