Fidelity Worldwide Investment has today announced that it is recruiting for its institutional team in France, with the arrival of Anne-Charlotte Aguttes as head of the Clients – Institutional and Corporate department. She joins Jean-Marc Didier, who is head of this activity, with whom she will work closely to strengthen Fidelity’s presence serving French institutional clients, a statement says. Before joining Fidelity, Anne-Charlotte Aguttes served as senior RFP Manager at State Street Global Advisors in Paris, where she had worked since 2006, as a specialist in institutional requests for proposals, covering all strategies and asset classes offered by the group.

The most popular investment criterion for institutional investors in 2013 will be the quality of results announced by businesses, before macroeconomic data is taken into account, according to the most recent European Corporate Survey by Crédit Agricole Cheuvreux, conducted between 23 October and 6 November, of 270 international investors in 28 countries. More than 50% of international investors, and 78% of US investors, say that profits at businesses will be the most important criterion in their investment decisions in 2013. Only 24% of investors estimate that macroeconomic criteria will be important, compared with 32% currently. The survey finds that 81% of investors surveyed estimate that the Euro Stoxx 50 index will rise until 30 June 2013, while 46% estimate that the index will remain in a range of 0 to +10%, and 35% predict that the index will gain at least 10%. One third of investors hope to increase the number of corporate meetings in 2012, as “corporate access” is now indissociable from the investment decision. 50% of US investors who participated in the study would like to increase the number of corporate meetings in the next 12 months. British and French investors value these contacts: 43% and 34%, respectively, meet with more than 60 companies per year (compared with an average of 27).

The British Gregory Eckersley, who was responsible for the management of global & large cap growth equity portfolios at AllianceBernstein from 2006 to 2011, before founding his own asset management firm, 1770 Capital Partners, has been recruited by the sovereign fund Abu Dhabi Investment Authority (ADIA) as its global head of internal equities, effective immediately, a statement dated 15 January states.He is responsible for direct investment in equities, and will lead one of the seven units at ADIA, while the other six are dedicated to tracker funds, equity investments via funds, real estate/infrastructure, bonds/treasury, private equity, and alternative investments.In his new role, Eckersley will report to Mohamed Darwish Al Khoori, executive director of the internal equities department.

Partners Group on 16 January announced net inflows of EUR4.9bn in 2012. This amount is at the high end of the EUR4bn to EUR5bn range targeted by the private equity group, a statement says. Assets under management at the end of December totalled EUR28.6bn. The firm has also confirmed its projections of a total inflow of EUR4bn to EUR6bn in 2013.

Oscar Andreu, who had most recently served as head global emerging markets sales & distribution at UBS until the end of 2012, has been appointed as head of sales at Fidelity Switzerland, finews.ch reports. He will be responsible for overseeing banking/insurance and wealth management clients.

Borrowing by sustainable industrialised or emerging countries overall has evolved more positively than sovereign borrowing by countries that are not considered sustainable. The availability of resources shows every sign of having gained importance as a parameter in the evaluation of government debt These are the findings of the sustainability analysis department of Banque Sarasin, in its most recent commentary on the sustainability of governments and the valuation of their borrowing. The evolution of sustainable and unsustainable industrialised countries, which had previously been nearly synchronous, has become clearly differentiated since the outbreak of the debt crisis in Europe. With a difference of 27.3 percentage points compared with unsustainable countries, sustainable economies had done considerably better as of the end of December 2011. In 2012, the difference fell to 12.4 percentage points, but the valuation difference remained substantial over the entire period. Taking sustainability criteria into account also paid off in the selection of emerging market government debt. This conclusion is drawn from a consistent decline which peaked during the international financial crisis in 2008, as borrowing from sustainable emerging countries such as Brazil, Peru and Indonesia developed considerably more favourably than those of unsustainable countries such as China or South Africa. At the end of December 2012, the performance difference peaked at 77.0 percentage points. In the context of the current market, the risk looms as large as the performance in the evaluation of an investment. Aside from returns and volatility, the sustainability analysis team at Banque Sarasin therefore also calculated the Sharpe ratio for the countries under study. Sustainable countries also clearly stand out from the others in this area.

Swiss-based wealth management firm GAM is reorganising. It is moving from a financial holding company structure to a much more strongly integrated structure. This is not expected to result in any one-time restructuring costs, according to a statement released on 16 January.The current chairman and CEO of the holding company, Johannes de Gier, will now concentrate entirely on his responsibilities as chairman of the board of directors. David Solo, currently CEO of the two operational business units, will take over as CEO for the group.The finance and risk departments will be combined, and will now report to a chief financial officer for the group, in the person of Marco Suter, currently chief risk officer. The CFO of Gam Holding, Andrew Wills, will oversee the transition before leaving the group. The changes will be effective from 17 April this year.At the next general shareholders’ meeting, de Gier, Dieter Enkelmann, and Hugh Scott-Barrett will stand for new terms. Their current terms will end in April this year. Tanja Weiher is proposed as a new independent member, the board of directors would then grow from five to six members.

The asset management firm ECM Asset Management, an affiliate of the Wells Fargo banking group, has appointed Jens Vanbrabant as co-manager of two of its largest funds in the Sicav range, Citywire reports. Vanbrabant becomes the third manager of the European Credit Fund Sicav-Elbe, whose assets under management total EUR467m, and co-manager of the European Credit Fund Sicav-Danube (EUR82m). The managers in place for these strategies, Henrietta Pacquement and Derek Hynes, will retain their positions, but will now be supported by Vanbrabant. Despite these new duties, Vanbrabant will continue to manage the three funds that he currently manages, one European bond fund (European Credit Fund Sicav-Interlaken), one corporate bond fund (European Credit Fund Sicav – European Corporate), and one European bond mandate for Universal Investment.

The Australian asset management firm AMP Capital has announced recruitments for its alternative management team, with the appointments of Alistair Rew and Celine Nguyen as portfolio managers. Rew previously worked at XL Group, where he was most recently managing director. Nguyen, for her part, was an analyst at EIM Management, where she led due diligence missions for investments in hedge funds.

With the Kresge Foundation (USD3bn) and the Local Initiatives Support Corporation (LISC), Morgan Stanley is participating in the first investment fund (with USD100m in capital) to allow those with low income and limited economic resources to gain access to health care and affordable housing. The fund also aims to finance services to help achieve these objectives in more deprived areas.The fund has sufficient capital to construct 500 housing units with integrated health care services, as well as eight health care centres with Federal permits to serve 75,000 people. The structure will put health care providers and residential developers in contact, since these groups have not often worked together previously, even though they frequently serve the same low-income populations in the same areas.The fund ia managed by New Markets Support Company, an affiliate of LISC, and is expected to contribute initially to the creation of 2,200 jobs in particularly deprived areas.

The European Commission will by this summer set out proposed legislation to et up a joint mechanism to resolve banking crises, the president of the Commission, José Manuel Barroso, announced on 15 January. “Following the adoption of the single supervision mechanism, the Commission will make a legislative proposal for a shared resolution mechanism for the banking sector before summer. I consider that an absolute priority,” Barroso said. Barroso, who was speaking before the European Parliament in Strasbourg, welcomed the compromise reached in December between European finance ministers to set up a joint banking supervision mechanism for the euro zone and other countries of the European Union (EU) that wish to participate. “Talks over the bill are in progress with Parliament, and I hope that the final step in its passage is coming within a matter of weeks, not months,” he said.

A research chair for equity investments and benchmarking in the area of infrastructure has been created in Singapore by the Edhec-Risk Institute with Meridiam Infrastructure (EUR2.8bn in assets) and Campbell Lutyens. It will employ up to three senior researchers at the Edhec campus in Singapore in the next three years.

In its “interim management statement” for the period from 1 October to 31 December 2012, Liontrust Asset Management Plc on 15 January announced that its assets increased in the period under review yo GBP2.530bn, from GBP2.364bn, thanks to GBP64m in net subscriptions, and a positive market effect of GBP102m. As of 11 January, assets totalled GBP2.584bn.Assets under management for institutionals fell to GBP542m, compared with GBP570m as of 1 October, with net outflows of GBP53m, while retail represented GBP1.978bn, compared with GBP1.756bn, with net subscriptions of GBP147m. In the nine months to the end of December, net inflows totalled GBP253m, compared with GBP74m in the corresponding period of 2011.Liontrust also confirmed that Michael Mabbutt (formerly of Thames River) has been appointed on 2 January as head of global credit, and announced that Felix Martin will join the global credit division in February, also from Thames River.Lastly, the group has announced the forthcoming launch of the Liontrust GF Global Strategic Bond Fund in February, pending approval from the authorities. The product will represent a diversification of the product range, which is currently highly concentrated on UK, European and Asian equities.

The Norwegian asset management firm Odin has reshuffled its teams, following its decision to repatriate the management of its funds to Oslo, Citywire Global reports. Management had previously been divided between Oslo and Stockholm. Vegard Søraunet will take over as manager of the Odin Sverige/ODIN Sverige II, and Carl Erik Sando will take over the ODIN Eiendom/ODIN Eiendom I, following the departure of Tomas Ramsälv. Søraunet will no longer manage the Odin Global/ODIN Global II and Odin Global SMB funds, which will be taken over by Oddbjørn Dybvad and Harald Nilssen.

According to one of its executives, Mutuelle Médicis (EUR2.5bn) has recently called off plans to launch a cross-border pension financing organisation (OFP) in Belgium, “because that is not any more in line» with its strategy, IPE reports.

The British firm M&G is planning to merge two UK equity funds, the UK Select, whose assets under management total GBP81m, and the UK Growth Fund (GBP546m), Money Marketing reports. The two funds are currently managed by Mike Felton, who took over as manager of the UK Growth Fund in December last year. Pending the approval of shareholders, the two funds will merge on 15 March this year.

Le gestionnaire Fourpoints Investment Managers, résultat de la fusion en mars 2012 de PIM Gestion France et d’IT Asset Management (lire Newsmanagers du 8 juin 2012) a terminé 2012 avec un encours de 876 millions d’euros contre 750 millions lors du rapprochement. La hausse est attribuable pour 41 millions à l’effet de marché et pour 85 millions à la collecte nette, ont indiqué mardi Muriel Faure et Michel Raud, respectivement directeur général et directeur général délégué et CIO.Lors de la présentation, l’accent a été mis sur le FCP coordonné de droit français Fourpoints Euro Global Leaders, qui ne représente pour l’instant que 16 millions d’euros d’encours tandis que la stratégie, incluant les mandats, pèse près de 150 millions d’euros - dont 120 millions correspondant à un mandat reçu au second semestre d’une caisse de retraite.Pour ce produit «méga-tendances», Fourpoints surpondère nettement par rapport au MSCI EMU DNR les secteurs industrie, énergie et santé tandis qu’il sous-pondère la consommation discrétionnaire, les matériaux, les technologies de l’information et la consommation de base. Ce portefeuille de 33 lignes actuellement ne comporte aucune position sur la finance, les télécommunications et les services aux collectivités. Sur cinq ans, le fonds affiche une performance annualisée de 0,6 % contre une perte de 6,1 % pour l’indice de référence et, sur trois ans, le gain annualisé ressort à 7,4 % contre 1,3 % pour le benchmark.

Selon L’Agefi, Amundi vient de mettre en place une nouvelle activité de gestion de créances et lance un premier fonds de loans destiné à financer des entreprises françaises et européennes dont le chiffre d’affaires dépasse les 500 millions d’euros. L’idée est de faire un ou des fonds multi-investisseurs et multi-originateurs, précise le quotidien. Le système repose sur un fonds commun de titrisation de droit français, Amundi Loans Fund, qui achètera les prêts bancaires. Les investisseurs peuvent souscrire en direct ou par le biais d’une société de titrisation de droit luxembourgeois qui a émis une première tranche de 475 millions d’euros à 8 ans.

Morgan Stanley va différer sur trois ans la totalité des bonus pour certains de ses banquiers et traders seniors, rapporte L’Agefi citant une information Bloomberg. Cette mesure s’appliquera aux employés avec une rémunération totale de plus de 350.000 dollars et des bonus d’au moins 50.000 dollars. Ces bonus différés seront versés pour moitié en titres et pour moitié en numéraire, ajoute le quotidien.

AEW Europe SGP a vendu à un investisseur privé un immeuble situé à Ivry-sur-Seine. Le bien de 2 320 m² à usage principal de bureaux est loué à 5 locataires. Le montant de la transaction n’a pas été dévoilé.

Siparex a annoncé mardi 15 janvier la nomination de Cyril Fromager au poste de directeur associé et la promotion au titre de directeurs dans l’activité capital développement/transmission d’Augustin de Jerphanion, de Nathanaël Martin et d’Alexandre Tremblin. Cyril Fromager était depuis octobre 2010, président du directoire de Rhône-Alpes PME Gestion, joint venture entre le groupe Siparex et les caisses d’épargne de la région Rhône-Alpes, indique un communiqué. Augustin de Jerphanion a rejoint le Groupe Siparex en 2002 à Lyon puis à Paris. Pour sa part, Nathanaël Martin a rejoint Siparex en 2009 pour créer le bureau de Strasbourg. Enfin, Alexandre Tremblin a intégé Siparex à Nantes en 2007.

L’Association française d'épargne et de retraite (AFER), a annoncé mardi 15 janvier un taux de rendement net pour son fonds en euros de 3,45 % en 2012. Par ailleurs, l’association a enregistré 15 000 nouveaux entrants en 2012 et 9 000 départs volontaires. Au total, elle compte 711 000 adhérents et affiche un encours de 45,2 milliards d’euros en 2012. Selon Gérard Bekerman, son président, l’Afer va poursuivre cette année l’élargissement de son offre de supports.

AdServerPub, société spécialisée dans la publicité en ligne et le ciblage d’internautes, a annoncé le 15 janvier la finalisation de son premier tour de table. Affichant un chiffre d’affaires de plusieurs millions d’euros pour son troisième exercice, AdServerPub a levé un financement structuré de 2 millions d’euros, principalement auprès des fonds d’investissement gérés par Alliance Entreprendre et Sigma Gestion.Cette première levée de fonds va permettre à AdServerPub d’asseoir sa position sur le marché de la publicité en ligne en France et à l’étranger et d’accroitre ses efforts de R&D.

BNP Paribas Wealth Management vient de nommer Florent Bronès, responsable de la stratégie d’investissement. Outre le réseau international de «Chief Investment Advisors» qu’il anime, le nouvel arrivant a pour mission de piloter le dispositif et de définir la stratégie d’investissement globale ainsi que les recommandations de thèmes d’investissement. En pratique, BNP Paribas Wealth Management s’appuie en effet sur les expertises du groupe à travers ses différents métiers (la gestion d’actifs, la banque d’investissement et l’immobilier) ainsi que sur ses propres analyses globales et locales pour élaborer sa stratégie d’investissement. Dans la poursuite de cet objectif, les stratégistes localisés dans les différentes entités de banque privée interagissent pour définir la stratégie d’investissement sur tous les marchés (États-Unis, Europe, Asie, émergents), offrant ainsi aux clients connaissance des marchés locaux et vision globale, indique un communiqué.Pour l’année qui débute, BNP Paribas Wealth Management rappelle que dix thèmes d’investissement ont été fixés qui sont axés autour de trois orientations stratégiques :la recherche de rendement via certains compartiments du marché obligataire (émergents, convertibles...), avec des actions à dividendes élevés et avec des investissements alternatifs ou structurés ; les opportunités offertes par la réduction des primes de risque des actions notamment en Europe et de style «value"; l’attrait d’un monde à deux vitesses avec des économies matures et émergentes qui vont connaître des rythmes de croissance différents. Avant de rejoindre BNP Paribas Wealth Management, Florent Bronès dirigeait, depuis 2008, le bureau de recherche buyside de Global Equities and Commodity Derivatives (GECD) et se concentrait sur l'élaboration de la stratégie d’investissement.

La société de gestion alternative américaine Mariner Investment Group a annoncé le 15 janvier l’acquisition de Concordia Advisors, un gérant alternatif qui dispose de bureaux à New York et Londres et dont les actifs sous gestion s'élèvent à environ 1 milliard de dollars.A la suite de l’intégration de la totalité des activités de Concordia dans Mariner, les équipes d’investissement de Concordia ainsi qu’une partie des fonctions support rejoindront Mariner. Les gérants de portefeuille de Concordia, Arun Puri, John Eckert, James Wise, Chris Dillon et Jason Cheung, continueront de gérer leurs fonds respectifs sous la marque Mariner.Le patron de Concordia, Best Williams, devient chief investment officer adjoint de Mariner et rejoint le comité d’investissement ainsi que le comité directeur de Mariner.Les actifs sous gestion de Mariner s'élèvaient mi-2012 à environ 4,7 milliards de dollars.

La société de gestion norvégienne Odin a réorganisé ses équipes après sa décision de rapatrier la gestion de ses fonds à Oslo, rapporte Citywire Global. Auparavant, la gestion était répartie entre Oslo et Stockholm. Ainsi, Vegard Søraunet va reprendre la gestion de Odin Sverige/ODIN Sverige II et Carl Erik Sando celle de ODIN Eiendom/ODIN Eiendom I, après le départ de Tomas Ramsälv. Vegard Søraunet ne gérera plus Odin Global/ODIN Global II et Odin Global SMB, qui sont repris par Oddbjørn Dybvad et Harald Nilssen.

Le Parlement européen a adopté la nouvelle réglementation sur les agences de notation dont les défaillances et l’influence avaient été pointées du doigt après l'éclatement de la crise financière de 2007. Le texte, qui résulte d’un compromis trouvé entre le Conseil, la Commission et le Parlement européens, devrait entrer en vigueur cette année.

Les prix à la consommation ont augmenté de 0,4% en décembre dans la zone euro, en raison de la hausse des prix de l’alimentation principalement, selon des données publiées mercredi par Eurostat. Le taux d’inflation sur un an est ressorti à 2,2%, comme en novembre, a ajouté Eurostat en confirmant son estimation préliminaire communiquée le 4 janvier.

La banque suisse UBS a ouvert une filiale en nom propre en Chine mercredi, ce qui lui permettra de mener des opérations en yuans dans des domaines clefs comme la gestion de fortune. Une quarantaine de banques étrangères, dont JPMorgan Chase & Co, Morgan Stanley et HSBC ont déjà créé des filiales en Chine pour tirer parti de la croissance de la seconde économie mondiale.

La disparition du risque de liquidités en Europe permet une détente constante des conditions de financement dans les pays du Sud et alimente le rebond