Vendredi, Barclays Global Investors (BGI) a fait admettre à la cotation du New York Stock Exchange (NYSE) les ETF iShares Russell Top 200 Value Index Fund (IWX), iShares Russell Top 200 Index Fund (IWL) et iShares Russell Top 200 Growth Index Fund (IWY). L’indice Russell 200 regroupe les 200 plus grands émetteurs de l’indice Russell 3000 qui représentent environ 65 % de la capitalisation des enterprises américaines cotées.

Matthew Appelstein, executive vice president, qui est responsable des ventes institutionnelles et du marketing, va désormais diriger également la distribution retail et non-US d’Old Mutual Asset Management (OMAM), rapporte Mutual Fund Wire. L’intéressé a indiqué qu’il va augmenter à 25 personnes l'équipe de distribution qui en compte actuellement 20. Il a indiqué faire partie d’un «triumvirat» comprenant Julian Sluyters, president & CEO d’Old Mutual Capital, chargé des activités retail, et James Mikolaichik executive vice president et head of product, strategy and corporate development, qui est chargé des produits destinés au retail.

Selon L’Agefi suisse, le rapport de la Conférence de l’ONU pour le commerce et le développement (UNCTAD) indique que quatre fonds souverains du Golfe ont perdu environ 350 milliards de dollars en raison de la crise financière. Les avoirs des fonds d’Arabie saoudite, du Koweït, du Qatar et d’Abou Dhabi n’ont toutefois pas beaucoup baissé en raison de l’injections de revenus pétroliers. De 1165 milliards de dollars fin 2007, ces avoirs sont passés à 1115 milliards fin 2008 après des injections de 300 milliards.

Morningstar a annoncé le 28 septembre l’acquisition d’une participation minoritaire dans la société basée à Seattle PitchBook, spécialisée dans la fourniture d’informations sur le private equity.

Selon le Financial Times, 220 investisseurs ayant placé 1.000 milliards de dollars dans le private equity se sont regroupés pour demander aux sociétés d’adopter un cadre de bonnes pratiques et d’aligner leurs intérêts plus clairement avec ceux des investisseurs. Ils réclament aussi une baisse des frais.

UFG REM, la filiale de UFG-LFP dédiée aux placements immobiliers, a annoncé le 28 septembre le lancement d’une nouvelle SCPI, Mutihabitation 5, qui permet de cumuler les avantages de la SCPI et ceux du dispositif fiscal Scellier. Les premiers projets d’opérations ont d’ores et déjà été sélectionnés et seront affectés au fonds MH5 au fur et mesure de la réalisation de la collecte. L’ensemble de ces projets représente un volume proche de 30 millions d’euros et l’adéquation entre les valeurs vénales négociées et l’offre locative confirmée par les précédents investissements sur ces cibles conduit à une rentabilité moyenne brute comprise entre 4,60 % et 4,70 %. Principales caractéristiques de la SCPI Capital social initial 897 000 euros Montant capital maximum statutaire 70 millions d’euros Durée de vie de la société 13 ans Prix de souscription 1 500 euros Commission de souscription (incluse dans le prix de souscription 10,5 % TTC Frais de gestion 11,96 % TTC des produits locatifs HT et financiers nets Versement des revenus semestriel Minimum de première souscription 5 parts soit 7 500 euros Délais de jouissance 1er jour du mois suivant la souscription

BNP Paribas a annoncé le 29 septembre qu’elle allait réaliser une augmentation de capital de 4,3 milliards d’euros, rembourser dès octobre les 5,1 milliards d’euros d’actions de préférence de l’Etat français et lui verser une rémunération de 226 millions d’euros calculée sur sept mois.La banque réaffirme l’ensemble des engagements (crédits, rémunérations) qu’elle a pris vis-à-vis des pouvoirs publics. « Il était convenu dès l’origine avec les pouvoirs publics et l’Union européenne que cette participation serait remboursée dès que possible. Son coût était d’ailleurs progressif de manière à inciter à un remboursement rapide », souligne la banque dans un commniqué.Les 5,1 milliards d’euros seront remboursés grâce à une augmentation de capital de 4,3 milliards d’euros, combinée à la création de fonds propres résultant notamment du paiement du dividende en actions (0,75 milliard d’euros) et de l’augmentation de capital réservée aux salariés (0,26 milliard d’euros).A l’issue de l’opération, BNP Paribas dispose de 59,4 milliards d’euros de fonds propres Tier one et son ratio Tier one est supérieur à 9% (pro forma au 30 juin). Par ailleurs, la capacité bénéficiaire du Groupe (résultat net de 3,2 milliards d’euros au premier semestre 2009) et la génération organique de fonds propres en résultant lui assurent le maintien de marges de manoeuvre financières adaptées à la poursuite de son développement dans un contexte d’exigences de capital renforcées.

Depuis le début de l’année, les fonds Carmignac Investissement (actions) et Carmignac Patrimoine (diversifié) se sont distingués par des performances respectives de 35 % et 15 %, rapporte la Frankfurter Allgemeine Zeitung, soulignant que ces produits ne sont pas seulement bons, mais qu’ils s’avèrent également chers, avec un taux de frais de 1,8 % pour Le Patrimoine, ce qui place ce fonds dans le peloton de tête. Eric Le Coz, présenté comme le bras droit d’Edouard Carmignac, a précisé lors d’une présentation à Francfort que le gestionnaire français est complètement surveillé par les autorités de tutelle et se défend d’agir comme hedge fund, mais qu’il utilise aussi des stratégies de hedge funds, plutôt du côté global macro.Le dernier rapport trimestriel du fonds Carmignac Investissement fait ressortir une hausse des liquidités à 17 %. Il aura fallu poser plusieurs fois la question pour qu’Eric Le Coz finisse par reconnaître que 10 de ces 17 points correspondent à des futures sur des actions de banques américaines dans lesquels Carmignac a investi sans posséder les actions. Entre-temps, toutefois, Carmignac a acheté les actions correspondantes.

L'ancien président de La Française des Placements Investissements s'associe à Stéphane Prévost. Dans le même temps, LFP sort du capital de la société de gestion spécialisée dans l'investissement socialement responsable.

Crédit Agricole Asset Management Group (CAAM Group) lance CAAM Islamic, sa première sicav investie en conformité avec les principes de l’Islam. Pour cela, la société de gestion s’est dotée d’un comité de conformité Shariah composé d’érudits musulmans réputés. De droit luxembourgeois, la sicav est composée de compartiments destinés aux particuliers et institutionnels investie sur différentes classes d’actifs respectant strictement les règles de la Shariah. Autrement dit, parmi les règles suivies figurent l’exclusion de tous les secteurs d’activité interdits par la Shariah (l’alcool, les jeux, la production porcine et ses dérivés, l’armement, le tabac…) et des sociétés considérées comme inacceptables en raison de leur niveau d’endettement, de créances et de liquidités. En France, trois compartiments sont disponibles : - CAAM Islamic BRIC Quant est un fonds de gestion quantitative actions émergentes investi sur le Brésil, la Russie, l’Inde et la Chine avec pour référence l’indice Dow Jones Islamic Market BRIC equally weighted. - CAAM Islamic Asian Active Equity Ex-Japan est un fonds de gestion fondamentale investissant dans une sélection de titres compris ou non dans un univers d’indice Islamique, avec pour référence le Dow Jones Islamic Market Asia Pacific ex. Japan, Australia and New Zealand. - CAAM Islamic Multimanagers Global Equities est un fonds de fonds Islamiques actions internationales avec pour indice le Dow Jones Islamic Market World Index. Caractéristiques CAAM Islamic BRIC Quant Part C Part I Code ISIN LU0399639573 LU0399639904 Commission de souscription maximum 4,50% 2,50% Commission annuelle de gestion maximum 1,70% 1,10% Commission administrative maximum 0,50% 0,25% «Taxe d’abonnement» 0,05% 0,01% Commission de conversion 1,00% Commission de rachat maximum Néant CAAM Islamic Asian Active Equity Ex-Japan Part C Part I Code ISIN LU0399638765 LU0399638922 Investissement initial minimum - USD 100 000 Commission de souscription maximum 4,50% 2,50% Commission annuelle de gestion maximum 1,70% 1,10% Commission administrative maximum 0,50% 0,25% «Taxe d’abonnement» 0,05% 0,01% CAAM Islamic Multimanagers Global Equities Part C Part I Code ISIN LU0399640076 LU0399640233 Investissement initial minimum - USD 100 000 Commission de souscription maximum 4,50% 2,50% Commission annuelle de gestion maximum 1,10% 0,65% Commission administrative maximum 0,50% 0,25% Commission de gestion cumulée 3,15% 2,70% «Taxe d’abonnement» 0,05% 0,01% Commission de conversion 1,00%

La banque d’affaires Arjil vient d’annoncer l’accession à la présidence d’honneur de l'établissement de Bernard Esambert, à la demande de Wladimir Mollof, président. Après avoir présidé de 2005 à 2008 l’Advisory Board d’Arjil, après sa cession par Lagardère, Bernard Esambert anime, gère ou est membre du conseil d’administration de nombreuses fondations et associations médicales.

La Tribune reports that the president of the World Bank yesterday warned that the United States should not aim to maintain a dominant position for the US dollar as a global currency, when there are a growing number of alternatives, such as the Euro, the Yuan and special currency issue rights. Robert Zoellick is also wary of the growing influence of the Federal Reserve over the financial system.

Commerz Real (EUR43bn) has invested EUR43.3m for its open-ended real estate fund hausInvest europa (EUR9bn in assets), in a logistical centre under construction which is expected to be completed in 2010. The 23,000 square metre hall is located in «Cargo City Süd» at Frankfurt airport, and is already wholly leased for ten years to a transport firm. The vendor is the developer Jürgen B. Harder.

On Friday, Barclays Global Investors (BGI) listed three ETF funds, iShares Russell Top 200 Value Index Fund (IWX), iShares Russell Top 200 Index Fund (IWL) and iShares Russell Top 200 Growth Index Fund (IWY), on the New York Stock Exchange (NYSE). The Russell 200 index includes the 200 largest firms of the Russell 3000 index, which represents about 65% of the total capitalisation of publicly traded US businesses.

Crédit Agricole Asset Management Group (CAAM Group) is launching CAAM Islamic, its first Sicav fund invested in keeping with the principles of Islamic law. To achieve this, the management firm has created a sharia compliance committee, composed of reputable Islamic scholars. The Luxembourg-registered Sicav is composed of sub-funds aimed at retail and institutional investors, which will invest in various asset classes in strict respect of Sharia rules. Among these, all sectors forbidden by Sharia (alcohol, gambling, pork products and their derivatives, arms, tobacco, etc) will be excluded, as well firms considered unacceptable due to their levels of debt, bonds or liquidity. In France, three sub-funds will be available: CAAM Islamic BRIC Quant is a quantitative emerging markets equities management fund investing in Brazil, Russia, India and China, with the objective of ourperforming the Dow Jones Islamic Market BRIC equally weighted index in the long term. CAAM Islamic Asian Active Equity Ex-Japan is a fundamental management and Asian equities fund investing in a selection of shares which may or may not be included in the universe of an Islamic index, with the goal of outperforming the Dow Jones Islamic Market Asia Pacific ex. Japan, Australia and New Zealand in the long term; and CAAM Islamic Multimanagers Global Equities, a fund of international Islamic equities funds, which aims to outperform the Dow Jones Islamic Market World index in the long term.

The Luxembourg management firm Ökoworld Lux SA, an affiliate of the German sustainable development consulting firm versiko, announced on Monday that from 1 November, it will take over direct management of the five sub-funds of its Ökovision Sicav: Classic, Europe, Garant 20, Klima and Water for life. For 13 years, Ökoworld had been limited to developing ecological and ethical investment supports. For its transition into the phase of direct management, the firm has recruited two experienced portfolio managers, Alexander Funk (who has managed the equities fund ÖKO-Aktienfonds at DZ-Bank International, among others), and Frank Frey.

GLG Partners, one of London’s largest hedge funds, has launched a new fund to invest in the debt of troubled UK and European companies. The fund already manages about USD300m of clients’ money, according to people familiar with the situation. It is managed by Galia Velimukhametova.

According to Cinco Días, the Saudi fund F6 is in negotiations with George Gillett over an acquisition of a 25% to 50% stake in Liverpool Football Club. The news comes one month after Sulaiman el Fahim, an investor from the United Arab Emirates, bought the Portsmouth football team. A year ago, the sovereign fund Abu Dhabi United Group took control of Manchester City.

One investment professional in five is planning to leave the United Kingdom in the next twelve months, according to Hedge Week. The main reason is changes to British tax policy soon to take effect, according to a survey by CFA UK. The major destinations for the departing professionals will be Switzerland, the Untied States, Hong Kong, and Singapore.

The International Monetary Fund is revising its projection for global growth in 2010 upwards, to about 3%, from 2.5% previously, L’Agefi reports.

According to sources close to the firm, Deutsche Bank is said to have issued a supplementary line of credit of EUR350m to the families that own the Sal. Oppenheim bank, to allow them to pay off loans from other banks, the Frankfurter Allgemeine Zeitung reports. This amount comes in addition to the EUR300m provided to the same families to finance a spinoff of their stakes in Arcandor, IVG and the custodial activities of BHF-Bank. In other words, with EUR650m already on the table, Deutsche Bank is not far from the 45% stake it had initially aimed for in Sal. Oppenheim. The firm is said to be valued at EUR1.5bn, excluding the investment bank. Deutsche Bank is interested in the wealth management arm of Sal. Oppenheim (EUR132bn in assets).

Standard Life Investments has appointed Christopher Heckscher as senior vice president, US Credit. He joins from Wellington Management where he covered a broad set of sectors within US investment grade and high yield for over 14 years. Based in Boston, Christopher will report to Erlend Lochen, head of US credit and global head of high yield. He will be responsible for covering US high yield and will work with the US Equities team to broaden coverage of US investment grade issuers.

Nearly two years after its creation, La Financière Responsable (LFR) is opening a new chapter in its history with the arrival of Olivier Johanet, the former president of La Française des Placements Investissements (LFP). Johanet is acquiring a 65% stake in the capital of the management firm specialised in socially responsible investment (SRI), and becomes president in charge of strategy, commercial development and marketing. This is a way for Johanet to remain in an entrepreneurial executive position, as LFP merges with UFG. This is a happy turn of events for Stéphane Prévost, CEO, vice-president and 35% owner of LFR, who had been seeking a partner since the departure of Patrick Savadoux, with whom he founded the business in late 2007. Johanet’s entry into the capital of the firm will also allow the boutique to cut its ties with La Française des Placements, which had assisted it in its development through an initial acquisition of a 30% stake, and later the additional 35% stake once held by Savadoux.

BNP Paribas announced on 29 September that it is planning a capital increase of EUR4.3bn, that from October it will redeem the EUR5.1bn in preferential shares in the business held by the French government, and that it will make a further payment to the government of EUR226m calculated over seven months. The bank will thus settle all of its engagements (credit and other payments) which it owes to the state. “It was agreed from the start with the state and the European Union that this participation would be reimbursed as soon as possible. Its cost was progressive, in order to incide rapid repayment,” the bank says in a statement. The EUR5.1bn will be financed by a capital increase of EUR4.3bn, combined with the creation of owners’ equity resulting largely from the payment of dividends in shares (EUR0.75bn) and a capital increase operation reserved for employees (EUR0.26bn). At the conclusion of the operation, BNP Paribas will have EUR59.4bn in Tier one owners’ equity, and its Tier one ratio will be over 9% (pro forms as of 30 June). The group’s capacity for profit (net results of EUR3.2bn for first half 2009) and the organic generation of owners’ equity will ensure that margins of financial maneuvering room appropriate for the continued development ina context of increased capital requirements will be maintained.

For EUR404m, Grupo Prisa is selling a 25% stake in the Santillana publishing house to the fund DLJ South American Partners, and 35% of the Portuguese firm Media capital to Ongoing Strategy Investments, Cinco Días reports.

Matthew Appelstein, executive vice president, in charge of institutional sales and marketing, will now also be in charge of retail distribution and non-US at Old Mutual Asset Management (OMAM), Mutual Fund Wire reports. Appelstein has announced that he will increase the size of the distribution team, which currently has 20 members, to 25. He joins a triumvirate that also include Julian Sluyters, president & CEO of Old Mutual Capital, in charge of retail activities, and James Mikolaichik, executive vice president and head of product, strategy and corporate development, who is in charge of products aimed at retail clients.

According to the Financial Times, 220 investors with up to USD1,000bn invested in private equity have grouped together to demand funds apply a framework of best practice and align their interests more clearly with investors. They are also pushing private equity funds to cut fees.

Hanspeter Brunner, former chief executive of RBS Coutts, has joined the Swiss private bank BSI, according to Asian Investor. He will move to Singapore next March to take over as head of the bank’s activities in Asia and to develop the bank’s presence in that region.

To reduce the stake in the firm held by the British government, Royal Bank of Scotland (RBS) is reportedly considering a sale of part of its asset management activities, in which it would part with RBS Asset Management (GBP30bn in assets), the Times reports. The idea would be to retain Coutts (the bank of the British royal family), a firm specialised in asset management for high net worth private clients, and to sell off the remainder. Morgan Stanley is said to have been retained as advising bank for the sale.

The Swiss management firm Swisscanto has recruited Bob Barrett as head of UK institutional business, the same function he served at HSBC Global Asset Management, Professional Pensions reports. The recruitment is part of a change in strategy for Swisscanto, which has decided to sell its bond and global equities products to British pension funds, though it has already been managing investments in London for nearly 20 years.