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11/03/2014

Promotions at Vontobel

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } The Swiss private bank Vontobel has promoted four of its employees, das Investment reports. Wolfram Gerlof becomes managing director of asset management. Daniel Brüesch et Roland Reyeg become department heads in private banking. Lastly, Christof Naef has been appointed as department head in investment banking.
11/03/2014

JP Morgan appoints a director of Swiss institutional clients

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } JPMorgan Asset Management has appointed Stéphane Casagrande as its director for institutional clients in Switzerland. Casagrande will be based in Zurich, and will handle monitoring of pension funds, insurers and businesses in Switzerland. He was previously director of Institutional Sales and Conslutant Relations for BNP Paribas Investment Partners in Switzerland. Before that, he worked at ECOFIN Investment Consulting and Credit Suisse Asset Management.
11/03/2014

Julius Bär launches a real-time online trading platform

Julius Baer has launched the real-time online trading platform ‘Julius Baer Market Link’, according to a press release published on March 10."Available both as a web and mobile version, active and trading-orientated private clients now have all major financial markets at their fingertips with this new offering. Julius Baer is the first private banking group which uniquely combines the safety and service of traditional private banking with a professional online trading platform,» according to the statement.Complementary to and separate from the existing e-Banking service, which focuses on payments and low-frequency cash transactions, Julius Baer Market Link is an execution-only trading platform with more than 20,000 instruments across most asset classes including equities, foreign exchange, precious metals and commodities on various exchanges worldwide. The platform is easy to use on any device. Clients can trade mobile anywhere and anytime, by simply logging in on their personal computer, tablet or smartphone. Besides benefitting from real-time portfolio valuation, market data and news feeds, the trading platform grants direct access to first-class analysis tools and allows for cross-asset class margining. This innovative, safe and leading-edge technology is complemented by a dedicated Service Centre located in Switzerland, which supports the Bank’s clients in solving any platform-related questions during extended office hours.
11/03/2014

Inflows to Swedish funds continue

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Funds on sale in Sweden posted net inflows in February of almost SEK12bn, or EUR1.3bn, about the same level as in January, the most recent statistics from the local fund association, Fondbolagens Förening, show. Inflows were driven by bond funds, which took in SEK6.4bn, and diversified funds, with +SEK4.3bn. Equity funds attracted SEK1.8bn. For money markets, after strong inflows in January, funds attracted only SEK79m in February. Overall, in the month of February, assets in the Swedish fund sector rose by about SEK90bn (EUR10bn) to a total of SEK2.535bn (EUR286bn). Of this total, about 56% are invested in equity funds.
11/03/2014

Handelsbanken awards a fund to a new recruit

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Handelsbanken has appointed its most recent recruit, Viking Kjellström, as its new principal manager for its global equity fund Handelsbanken Funds Global Selective, Citywire reports. Kjellström joined the Scandinavian bank last month, after serving as co-CIO of European equities at SEB. He had been manager of the SEB Europafund, which has been taken over by Magnus Högström. Kjellström succeeds David Rindegren.
11/03/2014

Spanish management firm ICR closes funds of funds

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } The Spanish asset management firm ICR Institutional Asset Management has notified the local regulator, the CNMV, of its decision to liquidate its two funds of funds Alpha Multistrategy IICIICIL and its feeder Alpha Plus IICIICIL, Funds People reports. As of the end of 2013, cumulative assets in the two vehicles topped EUR74m.
11/03/2014

GVC Gaesco Gestión launches a new fund of funds

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } GVC Gaeco Gestión has launched a new global fund of funds on the Spanish market, entitled 1 Kessler Casadevall, in the names of the two financial advisers in charge of the vehicle, Javier Kessler Saiz and Juan Manuel Vicente Casadevall, Funds People Reports. The benchmark indices for the funds are the MSCI World Index, for the equity portion, and the Citigroup World Aggregate Bond Index, for the bond portion. The product will invest over 50% of its assets in third-party funds from national or international managers, whether or not they are controlled by GVC Gaeco Gestión. The rest of the assets will be invested directly in equities, bonds and ETFs, up to a maximum of 49%, public or private issuers from OECD countries. However, exposure to risk from emerging countries will be limited to 20%, whie exposure to currency risks may reach 100%.
11/03/2014

Alceda AM authorised to launch alternative investment funds

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } The German asset management firm Alceda Asset management has received a license from the German financial market aurthority (BAFin) to launch and manage alternative investment funds (FIA). The permission covers both traditional open-ended funds dedicated to stocks and bonds and closed funds reserved rather for institutional investors.
11/03/2014

The HFR hedge funds index gained 2.1% in February

Hedge funds posted strong gains in February as equity, commodity and fixed income markets recovered from the prior month’s volatility, despite continued turbulence in emerging markets, according to a Hedge Fund Research.The HFRI Fund Weighted Composite Index advanced +2.1 percent for the month, the best monthly gain in over a year. The HFRI Fund of Funds Index gained +1.8 percent for the month, also the strongest gain since January 2013.Industry gains were led by Equity Hedge strategies, with the HFRI Equity Hedge Index climbing +2.9 percent in February. Event Driven funds also posted strong gains in February, led by Distressed/Restructuring. The HFRI Event Driven Index was up +2.1 percent, posting its 18th gain in the past 21 months.Strong performance across commodity, emerging markets, CTA and discretionary macro strategies drove the HFRI Macro Index to a gain of +1.4 percent for the month. The HFRI Macro: Commodity Index gained +2.7 percent for the period, led by contributions across Energy and Agriculture exposures. The HFRI Emerging Markets Index gained +2.6 percent. The HFRI Macro Discretionary Index gained +1.7 percent, the strongest gain since January ’13, while the HFRI Systematic Diversified Index advanced +1.6 percent.
11/03/2014

Granahan IM launches its first UCITS fund

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } The US investment boutique Granahan Investment Management will next month launch its first UCITS fund, Citywire reveals. It will be the first fund managed directly by the firm based in Massachusetts. The firm had previously managed only mandates for institutionals. The fund, domiciled in Ireland, will be known as the US Focused Growth Fund.
11/03/2014

Swisscanto launches an emerging market absolute return fund

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Swisscanto is launching a new absolute return fund which will invest in emerging markets. The flexible strategy of the Swisscanto (LU) Bond Invest Emerging Markets Absolute Return fund which is invested primarily in securities denominated in US dollarss or euros, provides a means to invest in governments, businesses and currecnnies from emerging markets that have the best outlooks. The fund will be open for subscriptions from 17 to 27 March 2014. It is aimed at private and institutional investors and is available in Swiss francs, euros or US dollars.
11/03/2014

Commerzbank Real granted AIFM license

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Commerz Real Kapitalverwaltungsgesellschaft mbH, an affiliate of Commerz Real AG (Commerzbank group), has obtained a license from the German market autority BaFin. Approval from BaFin will allow the new firm to offer and manage alternative investment funds (FIA) in Germany for both private and institutional investors. The launch of the first products is scheduled for the second half of 2014. The directors of the new firm, who benefit from the expertise of Commerz Real, are Marinela Bilic-Nosic for risk management, Heiko Szczodrowski for real estate projects and management, and Jörg Thomsen for real estate products and product development.
11/03/2014

Money market reforms blocked in European parliament

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } European reforms of the money markets have dragged them down at a time when the Parliamentary commission on economic affairs still delaying a vote on the rules, Les Echos reports. Members of European parliament are opposed to constant net asset value (CNAV), for which the commission wanted to impose a capital requirement of 3% to ensure the stability of redemptions. The proposal may be blocked by partisans of the funds, including Irish and Luxembourg MEPs joined by most liberal and most German MEPs. The next elections will certainly be necessary to unlock the reform.
11/03/2014

Strong growth expected for variable annuity products

Variable annuity net new sales will reach USD22 billion by 2018, a 57% increase from 2012 levels, according to Cerulli Associates,Net new variable annuity sales plummeted in 2012 to just USD14 billion. However, as interest rates stabilize, Cerulli envisions legacy variable annuity providers and new entrants, including nontraditional players, to join the marketplace.
11/03/2014

Buffett recommends that his wife invests passive

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Warrenn Buffett has stated in the most recent report from Berkshire Hathaway that in his will, he recommends that his wife invest the money he is leaving her 90% in a very low-cost index fund based on the S&P 500, and 10% in short-term government bonds, Financial Times fund management reports. Concerning the index fund, “I suggest funds from Vanguard,” the star investor says.
11/03/2014

Franklin Templeton adds to sales team in Spain

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Franklin Templeton Investments has added to its sales teams in Spain. The asset management firm has recruited Reyes Brañas for its Madrid office, as junior salesperson, Funds People reports. Her role will be to assist the sales team, with the objective of improving the quality of services and information to clients. She will also actively participates in sales of products from the company via the channel of financial agents on the Spanish market. Last month, Franklin Templeton recruited Javier Villegas as director of global financial institutions and consultants for the Americas. His mission is to strengthen and coordinate relationships with this target client segment in Latin America, and to develop the distribution of the asset management firm serving major partners in the region.
11/03/2014

Ignis to close two equity funds in United Kingdom

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Ignis Asset Management is levelling out its equity range in the United Kingdom. According to Citywire, the asset management firm is planning to close two funds, the UK Enhanced Income and the UK Focus funds, managed by Graham Ashby and Mark Holden, respectively, due to their negative performance. The UK Enhanced Income fund (GBP9.9m in assets) has earned returns of 16.9% in the past three years to the end of January, compared with gains of 32.2% for the FTSE 350 Higher Yield index. For its part, the UK Focus fund (GBP63.5m), launched in 2002, has posted returns of 4.7% in the past three years, compared with 27.7% fo the FTSE All Share.
11/03/2014

UK insurers to unload corporate bonds in sterling

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Insurance companies are planning to reduce their exposure to bonds denominated in pounds sterling by GBP50bn by 2020, which will drive the cost of borrowing up for businesses, according to the consultant Cazalet Consulting, cited by Financial Times fund management. Insurers control about half of the debt for businesses denominated in pounds sterling in circulation, representing GBP343bn. Solvency 2 regulations are driving insurers to diversify into assets such as infrastructure, residential real estate and private loans.
11/03/2014

Les assureurs britanniques vont se délester de leurs obligations d’entreprises en sterling

Les compagnies d’assurances vont réduire leur exposition aux obligations d’entreprises en livres sterling de 50 milliards de livres d’ici à 2020, ce qui va pousser à la hausse les coûts d’emprunt des sociétés, selon le consultant Cazalet Consulting cité par le Financial Times fund management. Les assureurs détiendraient environ la moitié de la dette des entreprises libellée en livres en circulation, représentant 343 milliards de livres. La réglementation Solvabilité 2 pousse les assureurs à se diversifier dans les actifs comme les infrastructures, l’immobilier résidentiel et les prêts privés.
11/03/2014

Le « père des ETF » est prêt à investir

Lee Kranefuss, qui a bâti iShares et a vu ses actifs croître de zéro à 600 milliards de dollars d’actifs en 2010, fait son retour sur le marché des ETF. Et il a de l’argent à dépenser, rapporte le Financial Times fund management qui l’a interviewé. Celui que l’on appelle « le père des ETF » a noué un accord avec Warburg Pincus en 2012 pour trouver des opportunités d’investissement dans les ETF et la gestion d’actifs. Sa première opération a été d’acquérir une participation majoritaire dans Source. D’autres devraient suivre. « Nous avons du capital disponible pour mener des acquisitions stratégiques qui ont du sens, mais il faut être très discipliné », indique Lee Kranefuss. L’autre objectif du dirigeant est de développer Source aux Etats-Unis. La société a déjà présenté une candidature pour lancer des produits cotés aux Etats-Unis cette année.
11/03/2014

AEW Europe a enregistré plus de 2,7 milliards de transactions en 2013

AEW Europe, groupe européen spécialisé en investissement et gestion d’actifs immobiliers pour compte de tiers, a enregistré en Europe plus de 2,7 milliards de transactions en 2013. Au cours de l’an dernier, AEW Europe a également levé de nouveaux capitaux pour un total de 1,6 milliard d’euros, dont 500 millions d’euros au titre de 3 nouveaux mandats avec des stratégies core et value-added au Royaume Uni, en France et en Italie.
11/03/2014
Fonds

Ignis va fermer deux fonds actions au Royaume-Uni

Ignis Asset Management remet à plat sa gamme actions au Royaume-Uni. Selon Citywire, la société de gestion a en effet l’intention de fermer deux fonds, à savoir UK Enhanced Income et UK Focus gérés respectivement par Graham Ashby et Mark Holden, en raison de leur contreperformance. De fait, le fonds UK Enhanced Income (9,9 millions de livres d’actifs) a eu un rendement de 16,9 % au cours des trois dernières années à fin janvier, contre une hausse de 32,2 % pour l’indice FTSE 350 Higher Yield. Pour sa part, le UK Focus (63,5 millions de livres), lancé en 2002, a enregistré un rendement de 4,7 % sur les trois dernières années, contre 27,7 % pour le FTSE All Share.Ces deux fonds seront officiellement clôturés le 7 avril, sous réserve du feu vert du régulateur local, la FCA, et des actionnaires. Les investisseurs auront le choix de se faire rembourser leurs actifs ou de les transférer sans aucun frais vers d’autres produits d’Ignis.Par ailleurs, toujours selon Citywire, la société de gestion britannique a annoncé son intention de fermer le 14 avril son fonds dédié au Japon, le Japan Tracker Fund doté de 22,3 millions d’actifs.
Fonds
11/03/2014

BNP Paribas recrute un ex-responsable multi classes d’actifs de BlackRock

BNP Paribas Investment Partners a recruté Colin Graham en tant que CIO et responsable de l’allocation d’actifs tactique et de la recherche dans son équipe solutions multi classes d’actifs (Multi Asset Solutions ou MAS), a annoncé lundi la société.L’intéressé vient de BlackRock où il officiait en tant que co-responsable de l’équipe stratégies multi classes d’actifs globales.Dans ses nouvelles fonctions, il sera basé à Londres et travaillera sous la direction de Charles Janssen, responsable des solutions multi classes d’actifs. Il dirigera les stratégistes, économistes et analystes de l’équipe et aura la responsabilité globale du processus d’allocation d’actifs tactique. L’équipe MAS de BNP Paribas IP représente un encours de 53 milliards d’euros au 31 décembre 2013 et compte plus de 50 professionnels de l’investissement répartis entre Amsterdam, Bruxelles, Hong Kong, Londres et Paris.
11/03/2014

LGIM envisage de lancer des ETF

Legal & General Investment Management envisage de lancer une activité ETF, rapporte le Financial Times fund management. Ali Toutounchi, managing director des fonds indiciels chez L&G, estime que les ETF renforceraient l’offre de LGIM aux autres investisseurs. « Cela nous donnerait accès à un marché totalement différent : gérants de fonds, hedge funds, traders (…) ». Il estime aussi que cela permettrait d’accéder bien plus facilement au marché des particuliers.
11/03/2014

Départ du vice président de Old Mutual Wealth

Peter Mann, actuellement vice-président de Old Mutual Wealth, a annoncé son départ de la société après douze années de collaboration, rapporte Citywire. Il occupait le fauteuil de vice-président depuis octobre 2013. Même si Peter Mann va rester au sein de la compagnie jusqu’à la mi-année, son poste ne sera pas remplacé, a indiqué Old Mutual Wealth.
11/03/2014

UBS réduit ses effectifs aux Bahamas

Le groupe suisse UBS va réduire ses activités de banque privée dans son centre offshore des Bahamas, ce qui va se traduire par la suppression de plus de 70 postes au cours des dix prochains mois, rapporte le site finews qui a ainsi confirmé des informations divulguées à l’origine par Tribune Business.Cela dit, UBS entend maintenir une présence aux Bahamas avec ses activités de fiducie et d’administration de fonds que le groupe suisse envisagerait même de développer.
11/03/2014

HSBC GAM recrute un ancien directeur de Legal & General

Simon Ellis, ancien managing director chez Legal & General Investments, vient de rejoindre HSBC Global Asset Management (HSBC GAM) au poste nouvellement créé de responsable mondial des segments de clients, rapporte FT Adviser. Sa mission sera de superviser le développement d’une large part de la clientèle de HSBC GAM, notamment les fonds de pension et les fonds souverains. Simon Ellis a quitté L&G Investments en janvier de l’année dernière après trois années passées au sein de la compagnie. Au cours de sa carrière, il a également occupé des rôles de cadres senior chez Fidelity, Axa Investment Managers ou encore Henderson.
11/03/2014

Argos Investment Managers accélère son développement au Royaume-Uni

Comme annoncé en début d’année, la société de gestion basée à Genève Argos Investment Managers veut se développer en Europe, et principalement en France et au Royaume-Uni. C’est dans cette optique qu’Argos IM vient de recruter Nick Hamwee au poste de responsable des activités britanniques. Il estime dans Investment Europe que «la rotation des obligations vers les actions observée en 2013 est favorables aux boutiques de gestion». Selon Investment Europe, Argos Investment Managers affiche des encours de 320 millions d’euros sous gestion.
11/03/2014

Franklin Templeton marque des points chez les institutionnels

Après des années d’efforts soutenus, Franklin Templeton a réussi à se faire reconnaître auprès des investisseurs institutionnels allemands, rapporte le Börsen Zeitung. Dans un entretien au quotidien, Reinhard Berben, responsable de Franklin Templeton Investment Services, indique que les actifs sous gestion pour le compte d’investisseurs institutionnels atteint désormais 2,6 milliards de dollars. Un montant multiplié par deux en l’espace de trois ans, se félicite Reinhard Berben.
11/03/2014

Franklin Templeton étoffe son équipe commerciale en Espagne

Franklin Templeton Investments renforce ses équipes de ventes en Espagne. La société de gestion vient en effet de recruter Reyes Brañas pour son bureau de Madrid au poste de commercial junior, rapporte Funds People. Son rôle consistera à assister l’équipe commerciale avec l’objectif d’améliorer la qualité de service et d’information aux clients. Elle participera aussi activement à la commercialisation des produits de la compagnie à travers le canal des agents financiers du marché espagnol. Le mois dernier, Franklin Templeton avait déjà procédé au recrutement de Javier Villegas au poste de directeur des institutions financières mondiales et des consultants pour les Amériques. Sa mission est de renforcer et de coordonner les relations avec cette cible de clientèle notamment en Amérique Latine et de développer la stratégie de distribution de la société de gestion auprès des principaux partenaires de la région.

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