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06/09/2010

Axel Weytens prend en charge les risques de la gestion d'actifs chez LCF Rothschild

Jeudi, La Compagnie Financière Edmond de Rothschild (LCF Rothschild) a annoncé avoir recruté Axel Weytens, en dernier lieu directeur général délégué chargé de la multigestion chez Louvre Gestion (HSBC Private Wealth Management), au sein de sa direction centrale des risques.L’intéressé est subordonné à Jacques Bocquet et aura la responsabilité du contrôle des risques de l’activité gestion d’actifs.
06/09/2010

Les conseillers en gestion de patrimoine de plus en plus demandés

Selon Les Echos, le cabinet de recrutement Robert Half indique que, dans le secteur bancaire, le métier qui résiste le mieux à la crise et qui profite le plus de l’amorce de reprise est celui du conseiller en gestion de patrimoine. Ce métier devrait monter en puissance car la transmission ou la cession d’environ 500.000 entreprises d’ici à 2015 devrait inciter les chefs d’entreprise à se faire accompagner dans ces opérations patrimoniales complexes. L’expertise de ces conseillers va de plus en plus être recherchée par les banques, les compagnies d’assurances et les indépendants du conseil en patrimoine.
06/09/2010
Fonds

Pioneer lance son Pioneer Funds – Total Return Currencies en France

Pioneer Investments a obtenu, le 16 juin 2010, l’agrément de commercialisation en France délivré par l’AMF pour son compartiment Pioneer Funds – Total Return Currencies, qui pèse à fin juillet 154,6 millions d’euros. La sicav luxembourgeoise Pioneer Funds a été lancé en mars 2007 suite à l’intégration des fonds Activest (société de gestion rachetée en 2006 par UniCredit), pour absorber le fonds Activest-Devisen-Fonds Fund. Géré par Andreas König, gérant et responsable de la gestion devise chez Pioneer Investments à Dublin, le produit a un objectif de performance absolue et mise sur une approche flexible et long/short. Le gérant peut en effet investir sur toute devise (convertible ou non), par le biais d’instruments monétaires, de dépôts, et d’obligations court-terme. Pioneer Funds - Total Return Currencies a réalisé une performance de 5,1% en 2009 et de 2,40 % depuis le début de l’année (part I, en euros, au 30 juillet 2010).Caractéristiques : Codes ISIN : LU0365478550 (part I, Capitalisation, EUR). Frais de gestion : 0,50% (part I, Capitalisation, EUR).
Fonds
06/09/2010

Gimv prend une participation majoritaire dans Onedirect

La société de capital investissement Gimv a annoncé le 3 septembre un investissement de près de 15 millions d’euros dans le MBO du français Onedirect, société e-commerce spécialisée dans la téléphonie professionnelle. Avec cet investissement, Gimv devient actionnaire majoritaire de l’entreprise. L’équipe de management, emmenée par Jean-Louis Coustenoble, président du groupe, fait son entrée au capital tandis que les fondateurs conservent une participation significative. Le groupe Siparex, entré en 2007 en tant qu’actionnaire minoritaire, sort intégralement à l’occasion de cette opération.Cet investissement est le quatrième de l’équipe Buyouts & Growth France de Gimv après Leyton & Associés, Made in Design et Easyvoyage.
06/09/2010
Fonds

Signet lance un fonds de fonds Ucits III

Le groupe de conseil et de gestion de fonds de hedge funds Signet lance son premier fonds de fonds conforme au format Ucits III, selon Citywire.Le Signet Multi-Strategy Fund offre une liquidité hebdomadaire ainsi qu’une possibilité d’allocation à environ une quinzaine de hedge funds dans le monde, conformément aux recommandations de la directive. Domicilié à Dublin, il s’adresse aux investisseurs du Royaume-Uni, d’Europe continentale et d’Asie.
Fonds
06/09/2010

Démission du patron de Rabcap

Charles Kirwan-Taylor, CIO de RAB Capital depuis fin 2008, remplace Stephen Couttie, qui a démissionné jeudi avec effet immédiat de son poste de CEO, indique dans une notification publiée par le London Stock Exchange.Aucun motif du départ de Stephen Couttie n’est communiqué, mais Rabcap a accusé pour le semestre au 30 juin sa seconde perte semestrielle consécutive (3,3 millions de livres) tandis que les encours baissaient encore de 90 millions de dollars à 1,26 milliard de dollars au 30 juin, après une contraction de 550 millions de dollars en 2009. Avant la crise financière de 2007, Rabcap gérait des actifs supérieurs à 7 milliards de dollars.
06/09/2010

KPMG se dote d'une équipe d'évaluation des portefeuilles

James Dimech DeBono, managing director responsable depuis quatre ans et demi de «l’international financial engineering practice» chez Duff & Phelps, a rejoint KPMG comme associate partner. Il dirigera l’activité de gestion du risque financier.KPMG précise que l’impétrant a pour mission de créer une équipe chargée d’aider les gestionnaires d’actifs, les fonds et autres institutions financières dans la préparation de l'évaluation de leurs portefeuilles. Cette nouvelle équipe sera composée de professionnels de la finance quantitative et de l'évaluation, avec notamment une grande expérience de l’analyse et de l’estimation de portefeuilles «difficiles à évaluer» et de valeurs mobilières illiquides.
06/09/2010

Frontier Capital Management recrute un gérant alternatif

Selon fundstrategy, Frontier Capital Management a nommé Alex Gaitan, gérant de portefeuille lead manager de son Frontier Global Hedge Fund. Précédemment analyste senior de fonds de fonds chez Redi & Partners, Alex Gaitan prend la succession de Richard Brazenor, qui a quitté le groupe en juin dernier.Frontier Capital Management a par ailleurs nommé Andrew Cracknell à la tête des activités intermédiées. Andrew Cracknell, qui a rejoint Frontier Capital début 2008, est devenu associé dans le courant de la même année. Il était précédemment chez Close Brothers.Le groupe a également recruté Nahed Ennasr en qualité d’analyste senior au sein de l'équipe d’investissement.
06/09/2010

Richard Pechter offre d'acheter les fonds Value Line

Actionnaire de Value Line, Richard Pechter a annoncé avoir soumis une offre d’acquisition de l’activité mutual funds du groupe d'édition qui est obligé par un accord extra-judiciaire avec la SEC de se séparer des fonds ainsi que de sa division broker-dealer, indique The Wall Street Journal.Richard Pechter est administrateur de la Financial Industry Regulatory Authority (Finra) et de la division régulation du New York Stock Exchange (NYSE).
06/09/2010
Fonds

iShares compte lancer un ETF d'obligations indexées sur l'inflation

Par une «form N1-A», iShares (BlackRock) a notifié le 1er septembre à la SEC son intention de lancer un ETF, le iShares International Inflation-Linked Bond Fund, qui investira en obligations indexées sur l’inflation.L’objectif sera de générer une performance correspondante à celle avant frais du BofA Merrill Lynch International Diversified Inflation-Linked Index.Le pourcentage de la commission de gestion n’a pas encore été dévoilé.
Fonds
06/09/2010
Fonds

Claymore prépare une rafale de 9 ETF d'obligations à haut rendement

La société de gestion Claymore (filiale de Guggenheim Partners) a l’intention de lancer aux alentours du 15 novembre une série d’ETF répliquant des indices d’obligations d’entreprises à haut rendement d’Accretive Asset Management. Elle a ainsi notifié le 1er septembre à la SEC (form N1-A) son intention de mettre sur le marché les fonds Claymore BulletShares High Yield Corporate Bond ETF avec des échéances annuelles échelonnées entre 2012 et 2020, sous l’ombrelle du Claymore Exchange-Traded Fund Trust.Ces fonds, pour lesquels le pourcentage de la commission de gestion n’a pas encore été communiqué, seront gérés par Chuck Craig et Saroj Kanuri.
Fonds
06/09/2010

Légère progression des actifs de Och-Ziff

Les actifs sous gestion de l’américain Och-Ziff s’inscrivaient au 1er septembre à environ 26,1 milliards de dollars, soit une progression de quelque 200 millions par rapport au mois précédent, selon des documents remis à la Securities & Exchange Commission (SEC).Le document précise que le montant des actifs sous gestion intègre la performance pour le mois au 31 août ainsi que les mouvements de capitaux au 1er septembre.
06/09/2010

Scout rachète Reams Asset Management

Scout Investment Advisors va racheter la société de gestion américaine Reams Asset Management, spécialisée dans le fixed income à destination d’une clientèle institutionnelle. La vente devrait être finalisée au mois de novembre. Elle permettra à Scout de doubler ses encours sous gestion, à 18 milliards de dollars, précise Mutual Fund Wire.
06/09/2010

Net redemptions continue in August

According to statistics from the Inverco association of asset management firms, Spanish securities funds in August saw net outflows of EUR522m, the lowest since the beginning of the year (the highest came in June, totalling over EUR3.78bn), compared with net subscriptions of EUR282.3m in the corresponding month of 2009. Since the beginning of the year, total assets have fallen 9.6%, to a total of EUR147.45bn, with the largest contraction (29.3%) in short-term bond funds, with a decline of EUR15.6bn in assets, which represents 90% of the total decline for funds overall. In relative terms, the decline is even more pronounced for money market funds, at 33.9%, but in absolute terms, the contraction is limited to EUR4.7bn. In total, however, 27 of the 109 asset management firms which submit information to Inverco posted net subscriptions in August. La Caixa and Santander Asset Management are the only two of the top 10 firms to fall into this category, with net inflows of EUR204.5m and EUR41m, respectively.
06/09/2010

Head of Rabcap resigns

Charles Kirwan-Taylor, CIO of RAB Capital since late 2008, is replacing Stephen Couttie, who resigned on Thursday from his position as CEO, effective immediately, the firm has announced in a statement published by the London Stock Exchange. No motive for the departure of Couttie has been given, but Rabcap saw its second consecutive half-yearly loss in the half to 30 June (GBP3.3m), while assets fell by another USD90m to USD1.26bn as of 30 June, after a contraction of USD550m in 2009. Before the financial crisis in 2007, Rabcap managed assets of over USD7bn.
06/09/2010

Frontier Capital Management recruits an alternative manager

fundstrategy reports that Frontier Capital Management has appointed Alex Gaitan as lead portfolio manager for its Frontier Global Hedge Fund. Gaitan, previously a senior fund of fund analyst at Redi & Partners, succeeds Richard Brazenor, who left the firm in June of this year. Frontier Capital Management has also appointed Andrew Cracknell as head of intermediated activities. Cracknell, who joined Frontier Capital Management in early 2008, became a partner later the same year. He was previously at Close Brothers. The group has also recruited Nahed Ennasr as a senior analyst in the investment team.
06/09/2010

Craig Heron (Henderson) plans to increase exposure to US

The head of multi-management at Henderson, Craig Heron, has told Investment Week that the team dedicated to funds of funds is planning to increase its exposure to US equities toward the end of the year. “Very high-quality shares underperformed last year during the speculative rally everywhere in the world, and these shares are continuing to underperform this year, particularly in the United States,” says Heron, adding that many of these businesses have healthy balance sheets and pay good dividends, meaning that the shares seem to be good value.
06/09/2010

KPMG sets up portfolio evaluation team

James Dimech DeBono, managing director for the past four and a half years in charge of the international financial engineering practice at Duff & Phelps, has joined KPMG as associate partner. He will be head of financial risk management activities. KPMG states that DeBono will aim to create a team in charge of assisting asset managers, funds and other financial institutions to prepare and evaluate their portfolios. The new team will be composed of quantitative finance and evaluation professionals with much experience in the valuation of “difficult to evaluate” portfolios and securities with limited liquidity.
06/09/2010

Axel Weytens takes over as head of risk for asset management at LCF Rothschild

On Thursday, the Compagnie Financière Edmond de Rothschild (LCF Rothschild) announced that it has recruited Axel Weytens, who most recently served as deputy CEO in charge of multi-management at Louvre Gestion (HSBC Private Wealth Management), for its central risk management office. Weytens will report to Jacques Boucquet, and will be in charge of risk management for asset management activities.
06/09/2010

Slight increase in assets under management at Och-Ziff

Assets under management at the US firm Och-Ziff as of 1 September totalled about USD26.1bn, an increase of about USD200m compared with the previous month, according to a document submitted to the Securities & Exchange Commission (SEC). The document states that this total amount of assets under management takes into account performance in the month ending on 31 August, as well as capital movements on 1 September.
06/09/2010

Richard Pechter offers to buy Value Line fund activities

Richard Pechter, a shareholder in Value Line, has announced that he has made an offer to acquire the mutual fund activities of the investment research group, which is required by an out-of-court agreement with the SEC to sell off its fund and broker-dealer divisions, the Wall Street Journal reports. Pechter is director of the Financial Industry Regulatory Authority (FINRA) and the regulatory division of the New York Stock Exchange (NYSE).
06/09/2010

Scout acquires Reams Asset Management

Scout Investment Advisors is to acquire the US management firm Reams Asset Management, a specialist in fixed income for institutional clients. The sale will be completed in November, and will double assets under management at Scout, to USD18bn, Mutual Fund Wire reports.
06/09/2010

Claymore prepares a volley of 9 high-yield bond ETFs

The asset management firm Claymore (an affiliate of Guggenheim Partners) is planning to launch a series of ETFs on 15 November, which will replicate corporate high-yield bond indices from Accretive Asset Management. It also notified the SEC on 1 September in a N1-A form that it plans to release the Claymore BulletShares High Yield Corporate Bond ETF on the market, with annual maturity dates ranging from 2012 to 2020, within the Claymore Exchange-Traded Fund Trust. The funds, for which the amount of the management commission has not yet been specified, will be managed by Chuck Craig and Saroj Kanuri.
06/09/2010

iShares plans to launch an inflation-linked bond ETF

iShares (BlackRock) on 1 September notified the SEC in a form N1-A that it plans to launch an ETF, the iShares International Inflation-Linked Bond Fund, which will invest in inflation-linked bonds. The objective will be to generate performance equivalent to that of the BofA Merrill Lynch International Diversified Inflation-Linked Index before fees. The amount of the management commission has not yet been announced.
06/09/2010

Minerva launches an ETI based on a basket of Austrian shares

The Fondsbörse Hamburg on Monday, 6 September admits shares in the new BE Dynamic Fund (LI0113711308), an exchange traded investment (ETI) from the Liechtenstein management firm Minerva Investments, to trading. The product, which is licensed for sale in Germany and Austria, will primarily concentrate (at least 70%) on the 5 to 8 most promising shares listed on the Vienna stock exchange, of which at least 75% will follow the Styria Börse Express model portfolio, says Andreas Wölfl CEO of Minerva and the initial manager of the fund. The new ETI is a sub-fund of the “Minerva Structured Investments” vehicle. During its first week of trading (6-10 September), shares will be traded in Hamburg with a maximal «hot spread» of 50 basis points, which will allow investors to save on the front-end fee. Wölfl has also announced in a market statement that each investment will be accompanied by comments from the manager soon after it is made on the Austrian website Börse Express, and a weekly newsletter will be made available at http://www.be24.at. ETIs are funds whose shares are listed on a stock exchange, but which are not UCITS-compliant, which allows them to invest in hedge funds without needing to comply with risk diversification requirements; ETIs may also use leverage. The prospectus, however, meets the requirements of the European directive.
06/09/2010

Credit Suisse preparing third-generation ETFs

Dan Draper, global head of ETFs at Credit Suisse, has announced the forthcoming release in Germany of third-generation ETFs, which combine the advantages of synthetic replication with the transparency of physical replication, the Frankfurter Allgemeine Sonntagszeitung reports. The bank cannot eliminate the counterparty default risks associated with swaps, but will make the assembly more comprehensible to retail investors. The composition of a basket of underlying equities will be published on a weekly basis on the management firm’s website. Risk levels will not be affected, but at least subscribers will know what is in the portfolio.
06/09/2010

Swiss firm Argos Managers adds to product range

The Swiss specialist in European small caps, Argos Managers, is planning to add to its product range. With this in view, the firm, which has barely CHF200m in assets under management, has recruited Jean Keller, who spent six years as head of 3A, the alternative management firm from Syz & Co. Keller will join Argos Managers in February, as a partner. In the meanwhile, he will continue to act as chair of several committees at 3A. But from the month of February, he will move to Argos Managers, and will work to build the product range at the Geneva-based management firm, which is largely known for its Argonaut fund. “I think it is a propitious time for small specialised structures, when investors are looking for value,” says Keller, who was head of asset management at Lombard Odier before joining 3A in 2005.
06/09/2010

Frédéric Rochat joins Lombard Odier in London

Frédéric Rochat has been appointed Managing Partner of Lombard Odier Darier Hentsch & Cie with effect from January 1, 2012. From October 1, 2010, he will assume responsibility for Lombard Odier’s activities in London with the objective to develop its presence in the fields of private and institutional management. The appointment of Frédéric Rochat will help strengthen the next generation of Partners within Lombard Odier Darier Hentsch & Cie, says a press release. Frédéric Rochat, 34, holds a degree in economics and business administration from the University of St. Gallen, Switzerland. He has spent most of his career working for the investment banking arm of Goldman Sachs Group in London and New York, first as an adviser to financial institutions, then industrial companies. In 2006, he started to cover Swiss corporates from London, with a particular focus on the private banking and financial sectors. In this role, he was involved in a large number of asset management and private banking transactions, allowing him to gain a solid understanding of the challenges these markets are currently exposed to.
06/09/2010

eFonds adds Deutsche Bank products to its range

The financial services provider eFonds Group, in which MPC Capital and HCI Capital each control a 27.98% stake, has announced that from 1 September it will offer securities products from Deutsche Bank Private Wealth Management, as well as retirement savings plans and Riester policies from the fund management firm DWS Investments (also part of the Deutsche Bank group). The new products are additions to the range of products available on the All Round Finance platform from eFunds, which already offers its roughly 2,500 IFA members products and solutions from Augsburger Aktienbank, CortalConsors, eBase and DAB Bank.
06/09/2010

FRM seeks to build presence in Hong Kong

Asian Investor reports that the fund of fund specialist FRM has transferred Marc Fisher from its London headquarters to the Hong Kong office, where he will replace Au King Lun, who last spring joined Bank of China Hong Kong as general manager and head of asset management. Fisher, who is also head of FRM products such as Sigma (a CTA/managed futures fund of funds), is planning to continue the development of the Hong Kong office, partly through the creation of dedicated funds of funds.

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