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15/05/2012

Lyxor AM revoit son offre dans le domaine de la gestion indicielle

Lyxor Asset Management vient d’annoncer le renforcement de son organisation avec la création d’une nouvelle ligne métier dédiée aux solutions d’investissement « ETF & solutions indicielles ». Ce regroupement d’activités vise à renforcer le développement de Lyxor sur le marché des ETF tout en proposant à ses clients une gamme complète de solutions dans le domaine de la gestion indicielle, indique un communiqué. «De cette façon», précise-t-on chez Lyxor, «nous répondons à une tendance forte parmi nos clients internationaux qui cherchent à investir à la fois dans un large éventail d’ETF et dans des produits indiciels au niveau mondial». Cette équipe est placée sous la responsabilité directe d’Alain Dubois, président du directoire de Lyxor Asset Management. Outre sa fonction de responsable des ETF pour l’Europe, Simon Klein est nommé au poste de responsable mondial du développement des activités ETF & solutions indicielles et devient membre du comité exécutif de Lyxor. Il travaillera sous la responsabilité d’Alain Dubois et de Christophe Baurand, responsable mondial «businnes developement» de Lyxor. Simon Klein sera secondé dans ses nouvelles fonctions par Nizam Hamid, responsable Produits ETF, et François Millet, responsable Produits solutions indicielles qui auront en charge le développement produit et la stratégie. Lyxor gère aujourd’hui plus de 29 milliards d’euros d’encours et propose une gamme composée de 227 ETF ainsi qu’un accès à plus de 165 indices distincts couvrant l’ensemble des classes d’actifs (actions, obligations, monétaires et matières premières), des thèmes, des secteurs et des régions.
15/05/2012
Fonds

Un fonds de pension va investir 2 milliards de dollars dans les terres agricoles

Le fonds de pension des universitaires américains TIAA-CREF, qui gère quelque 487 milliards de dollars, a levé 2 milliards de dollars auprès des investisseurs institutionnels afin d’investir dans les terres agricoles, rapporte le Financial Times. Cette initiative vise à tirer parti de la croissance des pays émergents pour créer une nouvelle classe d’actifs qui puisse au moins en partie remplacer sur le long terme les investissements en actions et obligations dont les performances ont été médiocres au cours des dix dernières années, explique le quotidien.
Fonds
15/05/2012

Financière Champlain met l'accent sur l'environnement et le non coté

Jean-François Descaves, président directeur général de Financière Champlain, vient de confier la gestion de Champlain Solidarité et Performance Responsable à Emeric Blond, gérant du fonds Performance Vitae (fonds santé-vieillissement dont la progression est 13,62 % en 2012 au 30 avril dernier). Cette décision a été prise en raison de la redéfinition des responsabilités des gérants, et notamment de la spécialisation de plus en plus nette d’Olivier Ken, un gérant suivant plus particulièrement le secteur de l’environnement, vers les titres non-cotés dans ce domaine. A ce titre, sous réserve qu’elle obtienne les agréments nécessaires, la société de gestion devrait annoncer prochainement le lancement d’un OPCVM «novateur», selon Jean-François Descaves, investi dans des titres non cotés. Les deux fonds qui vont être repris par Emeric Blond affichent aujourd’hui un encours d’environ 350.000 euros et 650.000 euros, respectivement, et se présentent comme les fonds «porte-drapeau» de la maison en matière d'éthique.
15/05/2012

Daniel Fighiera devient directeur de la gestion de Tocqueville Finance

Toqueville Finance vient de nommer Daniel Fighiera à la fonction de directeur de la gestion collective et institutionnelle. A compter du 23 mai, il sera directeur général délégué de la société.Agé 47 ans, Daniel Fighiera était gérant OPCVM Petites et Moyennes Capitalisations Zone Euro chez Rothschild et Cie Gestion qu’il avait rejoint en 2004. Auparavant, il avait travaillé à partir de 1997 au Crédit Lyonnais AM en tant que responsable de la gestion valeurs moyennes européennes puis, à compter de 2002, de responsable de la gestion actions Europe.
15/05/2012

Exoé annonce un partenariat et élargit son offre

Exoé, la table d’exécution indépendante sur les marchés actions vient d’annoncer un partenariat avec Greenwich Prime Trading Group (GPTG) pour renforcer sa capacité d’exécution sur les marchés nord-américains, qui représentent jusqu'à 15% des ordres de ses clients actuels, rapporte L’Agefi.Exoé vient également d’embaucher le responsable de sa table de négociation «fixed income» afin de lancer début juin un service sur les marchés obligataires et monétaires pour quatre clients qui, en dessous de 5 milliards d’euros sous gestion, n’ont pas toujours accès aux books des grandes banques, en secondaire comme en primaire, précise le quotidien.
15/05/2012

AllianceBernstein recrute le directeur financier de S&P

JohnC. Weisenseel a été nommé avec effet immédiat chief financial officer d’AllianceBernstein LP. Subordonné à James A. Gingrich, le COO, le nouvel arrivant était depuis 2007 senior vice president et CFO de Standard & Poor’s dans le groupe The McGraw-Hill Companies. Il remplace Edward J. Farrell, était CFO par intérim depuis février 2011 et qui va reprendre à plein temps ses activités de corporate controller et chief accouting officer d’AllianceBernstein.
15/05/2012

Une nomination et une offre d'emploi chez Carmignac Gestion

Carmignac Gestion a annoncé le recrutement de Nick White au poste de sales manager à Londres. Le nouvel arrivant qui prendra ses fonctions fin juin rapportera à Matthew Wright, head of country de la société de gestion, et aura pour mission de développer la présence de la maison auprès des gérants de fonds et des conseillers en gestion de fortune au Royaume-Uni. Auparavant, Nick White a travaillé chez Martin Currie et Invesco Perpetual et dispose d’une expérience de neuf en gestion d’actifs. Par ailleurs selon nos informations, Carmignac Gestion serait également à la recherche d’un directeur marketing à Paris après le récent départ de Laurence Bertrand.
15/05/2012

Premier trimestre solide pour Allianz

La division de gestion d’actifs et d’investissements d’Allianz, qui a été récemment réorganisée autour des deux piliers Allianz Global Investors et le fonds obligataire Pimco, a progressé «mieux que le marché» au premier trimestre, a souligné le groupe allemand le 15 mai dans un communiqué portant sur les résultats définitifs du trimestre, peu ou prou identiques aux résultats préliminaires publiés la semaine dernière.Les actifs sous gestion s’inscrivaient fin mars à 1.700 milliards d’euros contre 1.500 milliards d’euros un an plus tôt. Le groupe Allianz a dégagé un bénéfice net part du groupe de 1,37 milliard d’euros au titre du premier trimestre, en hausse de 60% sur un an et a confirmé ses objectifs pour l’exercice en cours, malgré des vents contraires persistants. Allianz a profité d’un effet de comparaison favorable par rapport au premier trimestre 2011, où ses résultats avaient été pénalisés par de nombreuses catastrophes naturelles. Mais il a aussi amélioré ses résultats dans l’assurance vie/santé et dans ses activités de portefeuille. Allianz prévoit toujours un bénéfice opérationnel compris entre 7,7 et 8,7 milliards d’euros cette année «malgré la crise de la dette publique persistante, la volatilité des marchés et des taux d’intérêt bas», selon Oliver Bäte, membre du directoire cité dans le communiqué.
15/05/2012
Fonds

Oddo Asset Management lance un fonds en Italie

Oddo Asset Management a lancé le processus d’enregistrement de son fonds Oddo Haut Rendement 2017 en Italie afin qu’il puisse être commercialisé et distribué dans la Péninsule, rapporte FondiOnline. Ce produit est un fonds à échéance investi dans des obligations d’entreprises et des obligations convertibles.
Fonds
15/05/2012

Jamie Kiggen becomes president of Riverside

The private equity firm Riverside (EUR2.5bn in assets) has announced the appointment of Jamie Keegan as its president. The co-CIOs, Béla Szigethy and Stewart Kohl, say that the former senior managing director of Blackstone will work closely with the management team and teams at Riverside worldwide, from his base in New York.He will also be chairman of the Riverside Cabinet, which includes the two co-CEOs, fund managers and the COO.
15/05/2012

Solid first quarter at Allianz

The asset and investment management division of Allianz, which has recently been reorganised around the two pillars of Allianz Global Investors and the bond fund management firm Pimco, has performed “better than the market” in first quarter, the German group announced on 15 May in a statement confiming preliminary figures published last week.Assets under management as of the end of March totalled EUR1.7trn, compared with EUR1.5trn one year previously.The Allianz group earned net profits for the group share of EUR1.37bn for first quarter, up 60% year on year, and has confirmed its objectives for the current fiscal year, despite consistent headwinds.Allianz profited from a favourable comparison with the first quarter 2011, when results were penalised by a number of natural disasters. But it has also improved its results in life/health insurance and in portfolio activities.Allianz continues to project total operating profits of EUR7.7bn to EUR8.7bn this year, “despite the persistent public debt crisis, the volatility of the markets, and low interest rates,” says Oliver Bäte, a board member cited in the statement.
15/05/2012

Swisscanto uses strict criteria for green fund

At a presentation in Paris, Gerhard Wagner, a member of the board at Swisscanto and senior portfolio manager for sustainable investments, stated that the Swiss asset management firm employs very strict exclusionary criteria for its four Green Invest funds, which have a total of about CHF2bn in assets (out of total assets at the firm of CHF53bn as of the end of March). The list of activities excluded includes businesses involved in the promotion of fossil energy sources, those who operate carbon or nuclear electrical plants, automobile makers and airlines, forestry businesses not focused on sustainable development, businesses involved in the production of weapons or tobacco, businesses involved in genetic engineering, and makers of PVC and vinyl chloride. Lastly, businesses in the gambling sector are not excluded as a whole, but don’t pass a ratings filter. The equity fund Swiss Canto (LU) Equity Fund Water Invest J (LU0302977094), launched on 18 September 2007, has posted performance since its inception of 0.06% per year, compared with losses of 1.01% p.a. for the MSCI World index, which meets the objective of outperforming the index, despite rigorous selection. The fund (50 holdings out of a universe of 200 eligible shares) had total assets of CHF105.82m as of the end of March. It is 70% invested in small caps and 25% in large caps, with overweight positions on utilities and industrials. Wagner states that the porftfolio is one third each invested in infrastructure, utilities and companies active in water conservation.
15/05/2012

EFG International appoints new CFO

EFG International has recruited Giorgio Pradelli, effective 1 June 2012, to be its new chief financial officer and member of the executive committee. He will replace Jean-Christophe Pernollet, who is leaving to pursue a new challenge following an appropriate handover period.From 2003-06, Giorgio Pradelli was deputy chief financial Officer of EFG Group, the largest shareholder of EFG International. Latterly he has been head of international at Eurobank, focused on «New Europe». In this capacity, he oversaw businesses with a combined network of more than 1,000 offices and total operating income of circa EUR700 million.
15/05/2012

Assets up at Julius Baer in January-April

As of 30 April, assets under management by the Julius Baer group totalled CHF178bn, which reporesents a 4% increase over the end of December, largely due to net subscriptions whose annualised growth rate has been above the 4-6% range which the group set for itself as a target. One year previously, assets totalled CHF173bn. The cost/income ratio has nonetheless deteriorated slightly, to over 70%.
15/05/2012

Alicia Koplowitz authorises competition at Morinvest

The agenda for the general shareholders’ meeting to be held in June for the Morinvest Sicav (EUR444m), dominated by Alicia Koplowitz, includes as its fifth point that the six directors of the fund will in the future be permitted to undertake investment activities similar to those of Morinvest, Cinco Días reports. They would thus in some way be able to compete with the Sicav, which is an innovation in Spain.
15/05/2012

Fitch places rating for SEB Investment under RWN

The financial ratings agency Fitch Ratings on 14 May announced that it has placed the M2 rating for SEB Investment on a negative watch, following the announcement of the liquidation of the Immoinvest fund.The ratings agency estimates that SEB Investment should be able to continue its activities without the support of the Immoinvest fund, but notes that the fund nonetheless represents about half of all real estate assets under management at the firm and a significant portion of its revenues.
15/05/2012

Oddo Asset Management launches a fund in Italy

Oddo Asset Management has initiated the registration process for its Oddo Haut Rendement 2017 fund in Italy, so as to be able to release and distribute the fund in Italy, FondiOnline reports. The product is a target-date fund which invests in corporate and convertible bonds.
15/05/2012

Moody's cuts ratings for 26 Italian banks

The ratings agency Moody’s on 14 May announced that it is cutting the credit ratings of 26 Italian banks, two of which are the largest in the country, UniCredit and Intesa Sanpaolo. The agency cites a deterioration in conjuncture in the Italian economy, in its financial sector, and “restricted access to market financing.” The reductions of long-term credit ratings range from one to four notches. For the country’s largest bank, UniCredit, and its rival Intesa Sanpaolo, which together control one third of assets at Italian banks, the rating is lowered one notch, to A3. For the third-largest bank in the country, Banca Monte dei Paschi di Siena (BMDP), the rating is reduced two notches to Baa3, and four the number four bank, Banco Popolare, the rating is also reduced one notch to Baa3, just above junk.
15/05/2012

Hedge funds help save businesses from bankruptcy

The presence of hedge funds increases the chances of saving a business which enters bankruptcy protection, a university study cited by Financial Times Fund Management finds. The researchers studied 474 businesses seeking protection under Chapter 11 bankruptcy protection in the United States between `996 and 2007. Hedge funds were involved in 87% of cases, and in 60% of these businesses, the companies exited bankruptcy protection, a higher than average success rate, FT FM relates.
15/05/2012

AllianceBernstein recruits S&P CFO

John C. Weistensteel has been appointed as chief financial officer of AllianceBernstein L.P, effective immediately. Weisenseel will report to James A. Gingrich, COO; since 2007, he had served as senior vice president and CFO of Standard & Poor’s in the McGraw-Hill Companies group. He replaces Edward J. Farrell, who had been interim CFO since February 2011, and who will now return full time to his activities as corporate controller and chief accounting officer at AllianceBernstein.
15/05/2012

Exoé announces partnership and extends offerings

Exoé, the independent equity market execution provider, has announced a partnership with Greenwich Prime Trading Group (GPTG) to strengthen its execution capacity on north American markets, which represent up to 15% o current client orders, Agefi reports. Exoé has also recruited a head of its fixed income negotiation table, with an aim to launching a service on bond markets in early June for four clients, who with under EUR5bn still don’t have access to the books of the major banks, for secondary or primary debt, the newspaper reports.
15/05/2012

TIAA-CREF raises USD2bn

The American university pension fund TIAA-CREF, which has about USD487bn in assets under management, has raised USD2bn from institutional investors, to invest in agricultural land, the Financial Times reports. The initiative aims to participate in growth in emerging markets, to create a new long terme asset class which may at least partially replace investments in stocks and bonds, whose performance have been mediocre over the past ten years, the newspaper explains.
15/05/2012

Lyxor AM revises its organisation in passive management

Lyxor Asset Management has announced that it is scaling up its organisation with the creation of a new business unit dedicated to ETF and index-based investment solutions. The grouping of activities will aim to strengthen the growth of Lyxor in the ETF market, while offering clients a complete range of solutions in the area of index-based management, a statement says. “In this way,” Lyxor AM says, “we can respond to a strong trend among our international clients, who are seeking to invest both in a wide range of ETF funds, and in index-based products worldwide.”The team will be led directly by Alain Dubois, chairman of the board at Lyxor Asset Management. In addition to his role as head of ETFs for Europe, Simon Klein is appointed as global head of development for ETF & index-based solutions activities, and becomes a member of the executive board at Lyxor. He will work closely with Dubois and Christophe Baurand, global head of business development at Lyxor.Klein will be assisted in his new role by Nizam Hamid, head of ETF products, and François Millet, head of index-based solutions, who will oversee product development and strategy.
15/05/2012

Daniel Fighiera becomes director of management at Tocqueville Finance

Tocqueville Finance has appointed Daniel Fighiera as director of management. He replaces Marc Tournier, who left the asset management firm at the beginning of this year.Fighiera, 47, had been manager of the OPCVM fund Petites et Moyennes Capitalisations Zone Euro at Rothschild & Cie Gestion, where he began in 2004, after working at Crédit Lyonnais AM from 1997 as head of European midcaps management, and then from 2002 as head of management for European equities.
15/05/2012

Record subscriptions for MFS

The Canadian insurer Sun Life Financial has announced that its US affiliate MFS Investment Managemetn has posted operating profits in first quarter of USD70m, compared with USD66m in October-December and USD67m in the corresponding period of last year. Net profits totalled USD49m, compared with USD31m and USD42m for first and fourth quarter 2011.Assets as of the end of March totalled USD284.8bn, compared with USD253.2bn as of the end of December, and USD268.1bn one year previously. Net subscriptions contributed USD5.9bn to the increase, compared with USD1.7bn in fourth quarter 2011, and USD1.8bn in January-March 2011, while market effects were positive to the tune of USD25.7bn, compared with USD15.1bn and USD9.8bn.
15/05/2012

An appointment and a job opening at Carmignac Gestion

Carmignac Gestion has appointed Nick White as sales manager, based in its London office and reporting to head of country, Matthew Wright. He will take up his position at the end of June.Nick White will focus on developing the firm’s presence among discretionary fund managers and wealth advisors across the UK. He has previously worked with Martin Currie and Invesco Perpetual. Separately, according to Newsmanagers, Carmignac Gestion is looking for a head of marketing in Paris after the recent departure of Laurence Bertrand.
15/05/2012

Significant increase in anti-money-laundering alerts in 2011

Financial intermediaries in 1625 cases sent notices last year, a 40% increase, on over CHF3bn in assets, more than the cumulative totals in the two previous years, but two thirds of this amount are in only 25 cases, Agefi Switzerland reports. “These figures are also due to the efforts of intermediaries, and particularly banks, who have considerably developed their internal compliance system,” says Jean-Luc Vez, director of the Swiss federal police office, speaking yesterday at a presentation of the annual report of the communications office on money-laundering.
15/05/2012

Chinese government liberalises QFII regime

The China Securities Regulatory Commission (CSRC) has announced that it is relaxing restrictions on foreign investors under its Qualified Foreign Institutional Investor (QFII) program. Holders of a QFII license will no longer be required to invest more than 50% of their assets in the stock markets, Z-Ben Advisors reports.The CSRC also states that it will now be authorised to issue licenses to various investors within a single financial group, and to investors who issue structured products. However, these new quotas will not allow QFII license holders to sell structured products.

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