Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
05/04/2012

Raymond James nomme les dirigeants de son pôle obligataire élargi

Suite à l’acquisition de Morgan Keegan, bouclée le 2 avril, Paul Reilly, CEO de Raymond James a annoncé la composition de l'état-major de son nouveau pôle obligataire combiné.John Carson, qui était le CEO de Morgan Keegan, devient le patron des divisions combinées obligataire et public finance. Il sera président et membre du comité exécutif de la société mère.Kevin Giddis, president of the fixed income capital markets division de Morgan Keegan, sera head of fixed income et Robert A. Baird head of public finance tandis que James P. Sickling devient COO de l’obligataire sous l’autorité de Kevin Giddis. Robert A Baird était patron du fixed income investment banking de Morgan Keegan tandis que James P. Sickling était head of the institutional taxable fixed income trading desk de Raymond James depuis 1993.
05/04/2012

NGAM lance une plate-forme de construction de portefeuilles durables

Natixis Global Asset Management a présenté aux Etats-Unis et dans quelques pays européens hors la France, la plate-forme Durable Portfolio Construction qui permet aux différents segments de clientèle (particuliers, CGPI et investisseurs institutionnels) de gérer leur allocation d’actifs en fonction principalement du risque et de la volatilité, de diversifier au maximum la gamme des classes d’actifs et des stratégies d’investissements, y compris dans l’alternatif, et d’utiliser au plus intelligemment les classes d’actifs traditionnelles.La plate-forme prend en compte le désir des investisseurs d’obtenir un rendement acceptable dans toutes les phases de marché en minimisant les pertes et en supportant un risque également aceptable. NGAM fournit aux clients l’assistance d’une équipe d’experts en gestion de portefeuille et d’analystes, dont Matthew Coldren, directeur adjoint du client solutions group et Marina Gross, numéro deux du conseil en portefeuille et de la recherche. Les équipes sont censées apporter aux investisseurs des informations et des jugements sur les portefeuille, sans préconiser de produits concrets.
05/04/2012

Neptune IM perd trois spécialistes de la vente

Trois collaborateurs de la société de gestion britannique Neptune Investment Management, John Lester, responsable des partenariats stratégiques, Dennis Pellerito, responsable des partenariarts stratégiques au Royaume-Uni, ainsi qu’un employé junior dans la vente, ont quitté la société pour rejoindre une boutique d’investissement récemment créée, rapporte Investment Week.
05/04/2012

Schroders renforce son équipe LDI

Tom Williams a été recruté comme «structureur» par Schroders pour son équipe portfolio solutions spécialiste de la gestion sous contrainte de passif (LDI). Il est subordonné à Mike Hodgson, head of structuring.Le nouvel arrivant vient de chez Jefferies International où il était trader sur les dérivés de taux d’intérêt.
05/04/2012

Raymond James appoints execs of enlarged FI unit

Following its acquisition of Morgan Keegan, completed on 2 April (see Newsmanagers of 12 January), Paul Reilly, CEO of Raymond James, has announced the composition of the management for its new combined bond unit.John Carson, CEO of Morgan Keegan, becomes head of the combined bond and public finance divisions. He will be chairman and a member of the executive board at the parent company.Kevin Giddis, president of the fixed income capital markets division of Morgan Keegan, will be head of fixed income, and Robert A. Baird will be head of public finance, while James P. Sickling becomes COO of fixed income, and will report to Giddis. Baird had previously been head of fixed income investment banking at Morgan Keegan, while Sickling had been head of the institutional taxable fixed income trading desk at Raymond James since 1993.
05/04/2012

Louis Godron nominated for AFIC presidency

The president of the French capital investors’ association (AFIC), Hervé Schricke, will be handing over power at the professional association to Louis Godron, currently treasurer of AFIC, and also CEO of Argos Soditic. Godron has been chosen by the selection committee at AFIC, a message sent to members of the association on 3 April states. Godron will replace Schricke as head of AFIC following the association’s general meeting on 20 June. Godron, 45, is also chairman of the Capital Transmission/LBO committee at the association.
05/04/2012

BlackRock and Pimco predict yuan will appreciate

Joel Kim, head of Asian-Pacific fixed income at BlackRock, and Ramin Toloui, global co-head of emerging markets at Pimco, on Wednesday announced that they predict that the Chinese yuan will appreciate by as much as 3% this year, the Wall Street Journal reports.
05/04/2012

Russell Investments France aims for EUR1.5bn in assets by the end of 2013

On 28 March, the US firm Russell Investments, which has about EUR3bn in assets under management in France, two thirds of that for distribution partners and one third for institutional investors, received an operating license from the AMF for a French-portfolio management firm, Russell Investments France, which will have Dominique Dorlipo as its chairman and Michaël Sfez as CEO. The firm is dedicated to custom multi-asset class, multi-style and multi-manager solutions. Pascal Duval, CEO of Russell for Europe, the Middle East and Africa, who opened the Paris office 17 years ago, on Wednesday told Newsmanagers that “the EUR150m in assets which Russell Investments France has at its outset correspond to repatriated mandates.’ I predict that we will have EUR500m by the end of the year, and that we will attract EUR1bn more in net inflows in 2013. Of this EUR1bn, I think that 50% will come form existing clients, and the rest from new investors, including insurers and retirement institutions.” Currently, Russell Paris has 30 clients. The objective is to double that number in the next two to three years, with new diversification offerings and high added value. The new clients must have at least EUR30m to EUR50m in assets. Currently, the average size is EUR150m to EUR200m, with several accounts of over EUR500m. Financial management will be provided by Alain Zeitouni and Alexandre Attal (see Newsmanagers of 13 March). The team will include 12 professionals, including the four named above, Bruce Botting (legal director for Europe) and Kate Skivington, head of compliance.
05/04/2012

German institutionals highly active in February

Dedicated funds in February posted net inflows of EUR7.8bn, with engagements from institutionals outside investment funds representing an additional EUR3.4bn, according to statistics from the German financial management association (BVI). Open-ended funds, for their part, have posted only EUR0.7bn in subscriptions. Overall, net inflows total EUR12bn, a level not seen since January 2010, the professional association says in a statement. For open-ended funds, euro-denominated government bonds have become unpopular, with outflows of EUR1.2bn in February, while short-term bond funds have seen net redemptions of EUR2.8bn. However, corporate bond funds have seen net inflows of EUR2.3bn, and emerging market bond funds have seen subscriptions of EUR0.8bn. Real estate and diversified funds have posted subscriptions to0talling only EUR0.4bn and EUR0.2bn, respectively. However, equity and money market funds have seen redemptions totalling EUR0.1bn and EUR0.4bn, respectively. As of the end of February, assets under management in the sector totalled EUR1.859bn, of which EUR1.170bn were from institutional investors.
05/04/2012

AMF opens savings observatory for retail investors

The French financial market authority (AMF) has opened the “AMF savings observatory,” a resource which aims to provide an overview “of financial products on offer to non-professional investors, communications/publicity actions by financial product distributors, and trends in household financial investment,” a statement says. To this end, the AMF will be publishing a quarterly newsletter, which may also be viewed on its website, but has not ruled out “special issues” of the newsletter during the year.The first issue of the newsletter is dedicated to the pricing of financial products, and treats subjects such as following up visits to bank advisers. The findings are that fees are quoted spontaneously four times out of ten, and that in only one case in ten, fees paid to the adviser are distinguished from other types of fees (front-end fees, management fees, etc.)The AMF states that futures subjects to be covered in the newsletter will include communications by financial institutions, returns on investments, and investor behaviour.
05/04/2012

German-Swiss tax accord may be signed on Thursday

A spokesperson for the German finance ministry on 4 April announced that the final version of a controversial tax agreement with Switzerland “may be signed tomorrow,” on 5 April, pending a few “formal questions” from the Swiss government. The German and Swiss governments have been in negotiations for several months over a double taxation agreement to combat tax evasion by German taxpayers in Switzerland. The spokesman stated at a regular press conference that the agreement, a first draft of which had already been signed by the two governments, would include “an additional protocol” to address some reticence on the part of some German regional governments. “The basic talks are finished,” the spokesperson said, without stating what amendments have been adopted. The spokesperson said that he is “optimistic” about seeing the agreement ratified by the German parliament, to come into force on 1 January next year, ending a controversy over tax evasion which has clouded relations between the German and Swiss governments for years. The signature of the final version of the agreement, however, does not amount to final ratification, as several regional governments have expressed concerns about legislation they consider too lax. The recalcitrant German regional authorities may block the bill in the Bundesrat, the upper chamber of the German parliament.
05/04/2012

Record subscriptions to global ETP funds in first quarter

As of the end of March, global ETP assets totalled USD1.7275trn, which represents an increase of EUR203bn, or 13.3% in one quarter, according to the BlackRock Institute. This increase is due to record net subscriptions of USD67.4bn, and positive market and forex effects of USD135.7bn. By comparison, net subscriptions in fourth quarter last year totalled USD44.8bn, and subscriptions in January-March 2011 totalled USD42.8bn. BlackRock states that 229 ETPs were launched in first quarter, and that these products raised a total of USD3.71bn, of which EUR300m went to the iShares Barclays US Treasury Bond Fund, and USD277m to the Pimco Total Return ETF. For ETFs alone, assets as of the end of March totalled USD1.5367trn, compared with USD1.3509trn as of the end of 2011.
05/04/2012

French and Italian insurers commit to long-term savings policy

The French federation of insurance companies (FFSA) and the Italian association of insurance companies (ANIA) on 4 April signed a joint manifesto explaining the reasons for supporting long-term savings in Europe and means to do so. A few weeks before the French presidential elections, and one year before Italian legislative elections, as the European Omnibus 2 directive (which is a complement to Solvency 2) is under negotiation in Brussels, insurers claim that it is important to “raise their voice, and express their vision of a modern economic and social strategy, based on a savings and investment policy oriented to the long term,” a statement says. In the «Manifesto for a long-term savings policy,» French and Italian insurers call on European countries to “consider the long term an economic priority” as a way out of the major economic crisis now underway. ‘It is necessary to support the development of long-term savings in European economies, on the one hand, to protect households against risks related to ageing, and on the other hand, to make investments that our economies need in order to support economic growth,” they write.
05/04/2012

Further reduction in pension fund deficit

The average coverage rate for the liabilities of US corporate pension funds increased by 3.6 percentage points in March, to 79.8%, after increases of 2.1 points in February and 1.6 points in January, according to estimates, by BNY Mellon Asset Management. This increase is due to the fact that equity markets saw their sixth consecutive month of gains in March. BNY Mellon states that assets in corporate pension funds increased by 1.3% in March, at a time when their liabilities decreased by 3.2%, due to a 25 basis point increase to 4.58% in the actualisation rate for AA-rated businesses.
05/04/2012

Former Trafalgar manager resurfaces

A former portfolio manager from the hedge fund firm Trafalgar Asset Managers, who left the firm late last year, has resurfaced at Maven Securities, an owners’ equity trading boutique, FinancialNews reports.
05/04/2012

Schroders adds to LDI team

Tom Williams has been recruited as a structurer by Schroders, joining its specialist liability-driven investment (LDI) portfolio solutions team. He will report to Mike Hodgson, head of structuring.Williams joins the firm from Jefferies International, where he had been an interest derivative trader.
05/04/2012

Neptune IM loses three sales specialists

Three employees of the British asset management firm Neptune Investment Management, John Lester, head of strategic partnerships, Dennis Pellerito, head of strategic partnerships for the UK, and one junior sales employee, have left the firm to join a recently-founded investment boutique, Investment Week reports.
05/04/2012

Bond manager leaves GLG

Christophe Akel is leaving GLG, where he had been manager of the GLG Global Corporate Bond and GLG Strategic Bond funds, for personal reasons, Investment Week reports. The two funds will be taken over by the head of credit, Steve Roth.
05/04/2012

IFAs adapt their offerings to RDR regulations

The majority of British independent financial advisers (IFAs) will increase their use of model portfolios and funds categorised according to their risks, as a result of new RDR legislation, according to a study by Skandia Investment Group. The study finds that nearly two thirds (65%) of independent financial advisers are planning to increase their use of reference portfolios and that more than half of them (53%) are planning to increase their use of risk-categorised funds. The other solutions preferred by advisers include multi-asset class funds (44% of respondents) and multi-management funds (42%). Custom portfolios are mentioned by only 35% of advisers. Notably, 57% of advisers have no plans whatsoever to offer more inexpensive funds due to upcoming regulatory changes. Among the advisers who are considering these more inexpensive solutions, the option cited by two thirds of advisers (66%) is actively-managed low-cost funds, followed by passively-managed funds (51%). ETFs are being considered by only 19% of IFAs.
05/04/2012

FSA called on to open consultation on unregulated collective investment vehicles

The British financial services authority (FSA) should launch an emergency consultation on unregulated collective invetment vehicles (UCIS) used by financial advisers, the financial services specialist consulting firm Aim Two Three claims, Investment Europe reports. The regulator already noted in a previous consultation that these vehicles should be limited to a very restricted set of retail investors due to their high risk levels. If this is the case, Aim Two Three claims, these vehicles should be removed from the list of retail investment products.
05/04/2012

FSA issues a warning

The British financial services authority (FSA) has published a consultation document warning firms which, in an effort to adapt their models to the new RDR legislation, may be tempted to convince their clients to agree to investment solutions which in its eyes are “unacceptable.” The regulator reviewed 181 investment cases in which centralised investment solutions were recommended to clients, meaning standardised investment approaches based on reference portfolios, or investment substitution solutions which migrate clients’ investments from one solution to another. Of these 181 cases, the FSA founded that in 108, the quality of the information was unacceptable, and in 103, the advising was virtually incomprehensible. Advising was deemed inappropriate in 33 cases. The FSA repeats in the document that all new investment solutions must be in the interests of and suit the needs of clients, based on the major factors which are the cost of the solution recommended, the performance of the aforementioned solution, and its taxation. In all cases, all the drawbacks as well as the advantages of a solution must be clearly explained.
05/04/2012

Carlyle prépare un nouveau fonds de LBO européen

La société américaine de private equity, qui s’apprête à rejoindre la Bourse, prévoit de commencer à lever son quatrième fonds européen au cours du second semestre, selon le coresponsable de l’équipe LBO dans la région. Carlyle a déjà investi plus de 75% de son fonds actuel de 5,3 milliards d’euros et dépensera le solde cette année.
05/04/2012

S&P Capital IQ rachète QuantHouse

L’entité appartenant à McGraw-Hill Companies a fait part du rachat du fournisseur de données de marché et de solutions de trading systématique. S&P Capital IQ avait fait part dernièrement de l’acquisition du spécialiste de l’analyse du risque R2 Financial Technologies.
05/04/2012

Blackstone rachète des entrepôts aux Etats-Unis

Bloomberg croit savoir que Blackstone a convenu d’acquérir 69 entrepôts aux Etats-Unis auprès de l’australien Dexus Property Group, pour un montant équivalent à environ 630 millions d’euros.
05/04/2012

Un nouveau baromètre actions dans « L'Agefi »

Le Baromètre Allocation Actions L’Agefi - Axa IM, une nouvelle enquête régulière sur le sentiment des investisseurs institutionnels français vis-à-vis de cette classe d’actifs, fait apparaître que près d’un tiers d’entre eux sont prêts à accroître leur exposition dans les 12 mois.

Sujets d'actualité

Tous les sujets