Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
19/01/2010
Fonds

Evy Hambro conservera la gestion du BlackRock Gold & General

Graham Birch ayant décidé de ne pas réintégrer BlackRock à l’issue de son congé sabbatique qui devait s’achever fin mars, Evy Hambro, le co-gérant, conservera la gestion du fonds BlackRock Gold & General (GB0005852396, 2,14 milliards de livres fin novembre).Quant à la direction de l'équipe actions/ressources naturelles de BlackRock, elle sera partagée entre Evy Hambro et Robin Batchelor, qui l’exercent déjà depuis le départ de Graham Birch. Le premier sera responsable de l’aspect or et mines, le second du volet énergie et énergies nouvelles.
Fonds
19/01/2010

La Commerzbank vend une filiale monégasque

La Commerzbank a annoncé le 18 janvier la cession de la Dresdner Bank Monaco S.A.M. à la banque libanaise Bank Audi sal pour un montant non divulgué.La Dresdner Bank Monaco S.A.M. est une filiale de la Dresdner Bank Luxembourg S.A., surtout active dans les activités de banque privée à destination d’une clientèle haut de gamme à Monaco, dans le sud de la France et dans le nord de l’Italie. Fin 2008, les actifs sous gestion de la banque s'élevaient à 233 millions d’euros.Bank Audi sal est la première banque libanaise avec un total de bilan à fin septembre 2009 de 24,7 milliards de dollars. Cette opération s’inscrit dans la stratégie de la banque libanaise de développer ses activités de banque privée en Europe, où elle est déjà présente en France et en Suisse.
19/01/2010
Fonds

E-Fund lève plus de 600 millions de dollars

Mardi, E-Fund a annoncé avoir bouclé la levée de 600-650 millions de dollars pour son premier produit QDII, un fonds Asie hors Japon distribué par ICBC, rapporte Z-Ben Advisors. E-Fund a l’habitude d’ignorer les particuliers lors du lancement de ses produits, préférant se concentrer sur les investisseurs institutionnels et sur ceux qui sont disposés à rester investis longtemps. Le gestionnaire pourrait se tourner vers le marché du retail dans trois ou six mois, lorsqu’un premier historique de performance (track record) aura été établi.
Fonds
19/01/2010

Azimut veut doubler ses encours

La société de gestion italienne indépendante Azimut souhaite doubler ses encours sous gestion d’ici à 2015 à environ 27 milliards d’euros, a annoncé son PDG, Pietro Giuliani, à l’occasion de la publication des premiers résultats 2009. A fin décembre, ils s’établissaient à 13,9 milliards d’euros, en hausse de 14,3 % sur un an.Parmi ses autres projets, le gestionnaire veut, au premier semestre 2010, lancer de nouveaux compartiments du fonds luxembourgeois AZFUND1 : F1 Commodity Trading, qui investira directement dans des matières premières via des futures, Active Strategy, un fonds de fonds qui investira dans des Ucits III avec des techniques de gestion similaires à celles des hedge funds, et Dividend Premium, un fonds actions qui distribuera la contre-valeur des revenus du fonds deux fois par an. En 2009, Azimut devrait avoir dégagé un bénéfice net consolidé de 113-118 millions d’euros, soit une hausse de 169 % sur 2008 et le meilleur de son histoire. Ses revenus consolidés devraient s’établir entre 328 et 344 millions d’euros.
19/01/2010
Fonds

Le Sabadell a injecté 280 millions d'euros dans son fonds immobilier

Comme il l’avait annoncé en février 2009, le Banco Sabadell a absorbé des demandes de remboursement des souscripteurs de son fonds immobilier Sabadell BS Inmobiliario, rapporte Expansión. Cela s’est traduit par un investissement de 279 millions d’euros, soit 29 % de l’encours du fonds. Si 1.400 souscripteurs sont sortis, quelque 13.000 sont restés.Le Sabadell a opéré comme le BBVA, qui a consacré 1,6 milliard d’euros pour maintenir à flot son fonds immobilier BBVA Propriedad.
Fonds
19/01/2010
Fonds

Fortes performances pour Vega

Le gestionnaire de hedge funds Vega, qui est tombé à 400 millions de dollars d’encours après avoir atteint un pic de 12 milliards en 2004, affiche pour 2009 des performances de 93,85 % pour le Vega Select Opportunities (mais 70,6 % pour les souscripteurs qui paient des commissions) et de 62,34 % pour le Vega Global, rapporte Cotizalia. Le bon résultat du Vega Global est surtout attribuable aux positions prises par le gérant Ravi Mehra sur les devises.
Fonds
19/01/2010
Fonds

Deka achète encore un actif à Tesco

Dans le cadre d’un contrat de «sale and lease back» avec la filiale tchèque du britannique Tesco (Tesco Stores CR), l’allemand Deka Immobilien a acheté pour 36 millions d’euros le Tesco Distribution Center situé à 14 km de Prague. Cet actif logistique de 60.100 mètres carrés est affecté au portefeuille du Deka ImmobilienEuropa. L’an dernier, ce même fonds avait investi environ 34 millions d’euros dans l’acquisition d’un actif de Tesco situé dans la grande banlieue de Varsovie.
Fonds
19/01/2010
Fonds

Jyske lance un fonds obligataire

La société de gestion danoise Jyske Invest vient de lancer un nouveau fonds obligataire, Jyske Invest High Grade Corporate Bonds. Ce produit est investi principalement dans des obligations d’entreprises émises en euros et bien notées par les agences de notation internationales. Le fonds n’a pas été approuvé à la commercisation en France et en Suisse, souligne Jyske Invest.
Fonds
19/01/2010
Fonds

Les hedge funds à 1.860 milliards de dollars en fin d'année

Le secteur des hedge funds affichera un encours sous gestion de 1.860 milliards de dollars à la fin décembre 2010, sous l’effet de performances annuelles moyennes de 10 % sur l’année et de 100 milliards de dollars de souscriptions nettes, selon une étude de Lipper citée par Hedge Week. Fin septembre 2009, les encours étaient à 1.550 milliards de dollars.
Fonds
19/01/2010
Fonds

Forte hausse pour l'indice CS/Tremont des hedge funds

Finalement, la hausse de l’indice Credit Suisse/Tremont des hedge funds pour décembre est ressortie à 0,88 % (l’indice s’est situé à 416,28), alors que l’estimation provisoire la situait à 0,39 % (lire notre dépêche du 14 janvier). Elle était ressortie à 2,11 % en novembre. Sur l’ensemble de l’année, la performance moyenne atteint 18,57 %, ce qui est le meilleur résultat depuis dix ans.Sur un an, deux stratégies seulement sur treize sont dans le rouge pour 2009 : dedicated short bias, avec une perte de 25,03 % et managed futures avec un recul de 6,57 %. Comme dans les autres indices de hedge funds, les deux stratégies ayant affiché les meilleurs résultats sont l’arbitrage de convertibles (+ 47,35 %) et les marchés émergents (+ 30,03 %).
Fonds
19/01/2010
Fonds

Henderson Global Technology sous la bannière de Windows 7

Selon L’Echo, Stuart O’Gorman, gérant du fonds fonds Henderson Global Technology, a repositionné son produit selon deux axes. Il va chercher à bénéficier des nouvelles dépenses informatiques provenant des entreprises, qui vont tenter de combler le retard induit par un massif sous-investissement ces dernières années (stockage des données, remplacement des serveurs). Un deuxième axe d’investissement est celui du renouvellement des PC et du logiciel star Windows 7. Selon la Deutsche Bank, la plupart des entreprises disposent aujourd’hui d’un parc informatique vieux de 6 ans. La majorité d’entre elles utilise donc encore Windows XP, dont le suivi par Microsoft sera supprimé d’ici 2014, et qui devrait être remplacé par Windows 7.
Fonds
19/01/2010

Deka buys a Tesco warehouse

As part of a sale and lease back deal with the Czech affiliate of the British retail business Tesco (Tesco Stores CR), the German management firm deka Immobilien has bought the Tesco Distribution Center, located 14km outside of Prague, for EUR36m. The 60,100 square metre logistical property will be added to the portfolio of the Deka ImmobilienEuropa. Last year, the same fund invested about EUR34m in the acquisition of a Tesco property located in a suburb of Warsaw.
19/01/2010

Hedge funds will have USD1.86trn in assets at end of this year

The global hedge fund industry will have USD1.86trn of assets at the end of December 2010, according to a report on 2010 hedge fund themes by Lipper cited by Hedge Week. Global hedge fund assets were estimated at USD1.55trn at the end of September 2009. Lipper believes the global hedge fund industry will be at about USD1.86trn at the end of December 2010, under the assumption of an average ten per cent annual performance in 2010 and USD100bn net inflows.
19/01/2010

Strong gains for CS/Tremont hedge fund index

Gains for the Credit Suisse/Tremony hedge fund index in December totalled 0.88% (putting the index at 416.28), while provisional estimates had put it at 0.39% (see Newsmanagers of 14 January). Gains had totalled 2.11% in November. For the year as a whole, average performance totalled 18.57%, the best results in ten years. For the year, only two strategies out of 13 show losses in 2009: dedicated short bias, with losses of 25.03%, and managed futures, which are down 6.57%. As for other hedge fund indexes, the two strategies which show the best results are convertibles arbitrage (+47.35%), and emerging markets (+30.03%).
19/01/2010

Strong performance for Vega

The hedge fund management firm Vega, whose assets have fallen to USD500m, after peaking at USD12bn in 2004, has posted performance in 2009 of 93.85% for the Vega Select Opportunities fund (but 70.6% for subscribers who pay commissions), and 62.34% for the Vega Global fund, Cotizalia reports. The good results for Vega Global are largely attributable to positions taken by the manager, Ravi Mehra, on currencies.
19/01/2010

Sabadell injects EUR280m into real estate fund

As announced in February 2009, Banco Sabadell has absorbed redemption and subscription demands for its real estate fund Sabadell BS Inmobiliario, Expansión reports. The result has been an investment of EUR279m, 29% of assets in the fund. Though 1,400 investors have left the fund, about 13,000 investors remain. Sabadell has done similarly to BBVA, which spent EUR1.6bn to keep its BBVA Propriedad fund afloat.
19/01/2010

E-Fund raises over USD600m

On Tuesday, E-Fund announced that it had concluded a round of findraising with USD600-650m for its first QDII product, an Asia ex Japan fund which will be distributed by ICBC, Z-Ben Advisors reports. E-Fund generally ignores retail investors when it launches its products, preferring to concentrate on institutional investors and those who are likely to remain invested for a longer term. The management firm may turn to the retail market in three to six months, once a track record has been established for the product.
19/01/2010

Invesco Perpetual launches a tactical bond fund

Invesco Perpetual will on 1 February launch a tactical bond fund, which may invest in the full range of bond products, Money Marketing reports. The managers of the fund, Paul Causer and Paul Read, co-heads of fixed income, may make short-term allocations, which may theoretically include positions of up to 100% cash. The risk profile of the fund may change very rapidly. At its launch at the beginning of February, the fund will be primarily invested in high yield, and will have limited positions on government bonds. Invesco Perpetual, which is not concerned that investors’ current limited appetite for bond products may limit the fund’s appeal, says the launch of the fund is not a short-term project. The subscription period will run from 25 January to 1 February. Front-end fees have been set at 55, and management commission is 1.25% per year.
19/01/2010

Baring DAA attracts GBP1.7bn in three years

On the third anniversary of its launch, Baring Asset Management has announced that its multi-asset class institutional fund Dynamic Asset Allocation (DAA) now has over GBP1.7bn in assets (more than GBP1.74bn as of 13 January), and that the number of mandates now exceeds 50, with 26 new mandates and GBP536m assigned to the firm in 2009. Assets under management totalled GBP1.03bn as of the end of 2008, and GBP360m as of the end of 2007. Since launch, cumulative performance totals 23.76%, compared with losses of 3.89% for the FTSE All Share index.
19/01/2010

Evy Hambro will remain as manager of BlackRock Gold & General

Graham Birch has decided not to rejoin BlackRock at the end of his sabbatical, which will conclude at the end of March. Evy Hambro, co-manager, will remain as manager of the BlackRock Gold & General fund (GB0005852396, GBP2.14bn as of the end of November). The direction of the equities/natural resources team at BlackRock will be shared between Hambro and Robin Batchelor, who had already held the position since the departure of Graham Birch. Hambro will be responsible for gold and mines, while Batchelor will be in charge of energy and new energies.
19/01/2010

Henderson reopens New Star real estate fund

Henderson will re-open the New Star International Property Fund for dealing on Friday 12 February 2010 following a successful asset disposal programme. Dealing in the fund was suspended on 25 November 2008 following unusually heavy redemptions. Since suspension, a programme of asset disposals has been undertaken, with the objective of ensuring that the fund could re-open for dealing as soon as reasonably practicable, while still maintaining a diverse and well-balanced portfolio of assets. The Financial Services Authority has approved the introduction of a restricted redemption share class for investors whose holding is worth more than GBP7.5 million. Should these investors wish to sell shares they will need to give one month’s written notice or pay a redemption charge of 10% of the value of the redemption. These stricter redemption procedures for large investors should allow the fund manager greater control over liquidity. The mid to long term target liquidity for the fund will be in the region of 15 to 20%. However, immediately upon re-opening, the fund will hold more than this to ensure we meet existing redemption requests.
19/01/2010

Thames River launches a UCITS III fund of funds

Thames River Capital has launched a UCITS III absolute return fund of funds with GBP47m already raised. The Thames River Absolute Return Fund will be managed by alternatives specialist Ken Kinsey-Quick and assistant fund manager, James Rous, supported by the Multi-Alternative team. The fund will invest on a global basis, across multiple asset classes with a bias towards more liquid asset classes and the developed world. Initially the portfolio will be biased toward market neutral equity and macro funds reflecting the team’s outlook for equities which, they believe, will struggle to break their 2007 highs, and that volatile financial markets will suit macro managers. The Thames River Absolute Return Fund has a target return of 5-10% with a 5% volatility target and weekly liquidity. The fund will aim to outperform global bonds as measured by the Barclays Aggregate Bond Index and will invest in a diversified portfolio of 20-40 absolute return funds.
19/01/2010

Two recruitments and two promotions at CPR AM

Emmanuelle Court, previously director of sales of Société Générale Asset Management (SGAM), has joined CPR Asset Management as director of sales. Meanwhile, Bertrand Paul, who was previously head of development for the Harewood Asset Management product range at BNP Paribas, has been hired as head of marketing and communication at the asset management firm. These two positions were previously occupied by Etienne Clément, deputy CEO of CPR AM, who has left the firm to join Amundi. In addition to these new arrivals, CPR AM has announced two promotions within its ranks, one of which has involved the creation of a new position for a chief investment officer. Arnaud Faller becomes CIO at CPR AM. Faller joined the firm in 1993, and since 1999 has been head of balanced management, a position which will now be taken over by Malik Haddouk, who has been at CPR AM since 1994. He previously served as head of the global equities management unit; this position will now be taken over by Cyrille Collet, head of equities.
19/01/2010

Brevan Howard looks to grow in France

The alternative asset management firm Brevan Howard, founded in 2002 and based in London, currently has assets of USD27bn, half of which is managed for institutional investors, and the other half for funds of funds. The proportion was previously 20% and 80%. At the end of last year, the British asset manager signed a partnership with OFI Asset Management, intended to give the firm an opportunity to develop its presence in the French market. The French management firm will distribute two UCITS III sub-funds: the Brevan Howard Macro FX Fund and the Brevan Howard Absolute Return Bond Plus Fund. Philippe Lespinard, a partner at Brevan Howard, says the British firm is also planning to open offices in Geneva, but that the move has nothing to do with plans to “flee” London; rather, it is part of a development strategy. Currently, the firm is present in New York, Hong Kong, Jersey, Washington and Dublin, in addition to London, with 329 employees. OFI AM also gives the firm a start in France.
19/01/2010

Pimco tops USD1trn in assets

The management firm Pimco has single-handedly amassed assets rivalling those of all the ETFs in the world put together (USD1.032trn as of the end of December, according to BlackRock): the affiliate of Allianz Global Investors declares assets under management as of 31 December 2010 of USD1.0001trn. Of this total, the Pimco Total Return Fund represents about USD202.3bn. Pimco has 1,247 employees, of whom 425 are investment professionals.
19/01/2010

Invesco AM launches a new bond fund

Invesco on 18 January announced the launch of the Invesco Global Investment Grade Corporate Bond fund. The investment universe will include the three largest corporate debt markets, including issues in US dollars, Euros and pounds Sterling. The OPCVM will aim to outperform the Barclays Global Aggregate Corporate fund. To achieve this, it will invest at least 70% of its assets in investment grade corporate bonds. The remainder of assets (up to a maximum of 30%) may be invested in cash. Interest rate and currency risks will largely be managed in line with the benchmark. The manager may, however, to some extent modulate the portfolio’s exposure to these two risks, in order to generate alpha. The duration of the portfolio will be actively managed, and will represent a secondary source of performance. Characteristics ISIN codes:(A distribution) LU0432616141 /(A capit., hedged in €) LU0432616570/ (C distribution) LU0432616224/(C capit., hedged in €) LU0432616653/(E capitalisation) LU0432616497Maximum front-end fees: (A and C) 5.25%; (E) 3.0928%Annual management fees (TTC): (A) 1%; (C) 0.65%; (E) 1.25%Minimum investment: (A) USD1,500; (C) USD250,000; (E) EUR500 or equivalent in other currenciesBase currency: USD
19/01/2010

Charles Schwab launches its seventh and eighth ETFs

Charles Schwab, which launched its first four ETFs on 3 November, followed by two more on 11 December, on Thursday listed the Schwab Emerging Markets Equity ETF (SCHE) and the Schwab International Small-Cap Equity ETF (SCHC), both of which charge fees of 0.35%. the former replicates the FTSE All-Emerging Index, while the latter is based on the FTSE Developed Small Cap ex US Liquid Index. As of 12 January, ETF assets at Charles Schwab totalled USD419m.
19/01/2010

Lyxor AM launches four ETFs based on publicly-traded real estate

Lyxor AM, an affiliate of the Société Générale group, is launching its first ETFs based on publicly-traded real estate on NYSE Euronext in Paris. The four products will replicate MSCI Real Estate indices. These indices offer exposure to global publicly-traded real estate and to 4 regions (World, Europe, the United States, and Asia ex Japan).
19/01/2010

db x-trackers hits EUR27bn in assets

As of the end of 2009, db x-trackers, the ETF platform from Deutsche Bank, had assets of EUR27bn, in 125 products; this is EUR6.6bn more than 12 months previously. Of this total, 85% come from institutional investors, Thorsten Michalik, head of db x-trackers, tells Newsmanagers. In 2010, the objective of db x-trackers is to become the number two ETF provider in Europe, overtaking Lyxor Asset Management (Société Générale). The firm is planning to launch about 50 ETFs based on numerous asset classes. Meanwhile, db x-trackers will this year start up an activity in the area of exchange traded commodities (ETC). A first line of products based on individual commodities and on baskets of commodities as well as “short” ETC products, will be launched by Deutsche Bank in spring, for which the bank will also serve as market-maker, as it does for its ETFs. All ETCs will be backed by gold. There are plans to list the products in Germany, the United Kingdom, Italy, and in Asia.

Sujets d'actualité

Tous les sujets