Thomas Couvret in January joined Banque Hottinger & Cie in Geneva as a product specialist, according to its LinkedIn profile. He will be in charge of sales and marketing in Switzerland, France and Luxembourg. Couvret was previously sales manager at URAM, an asset management firm based in Geneva specialsied in natural resources. He was previously business development manager at PIM Gestion France (which has become FourPoints Investment Managers after its merger with IT AM) in Paris.

In December, Banca Generali posted total net inflows of EUR131m, bringing the total for 2013 to EUR2.26bn, according to Il Sole – 24 Ore. That represents a 40% increase compared with the previous fiscal year. Funds and Sicavs attracted EUR1.489bn, up 235% compared with 2012.

Primonial has had quite a year in 2013. Last year, the French wealth management firm posted “record” inflows of EUR2.5bn. Inflows from retail clients totalled EUR1.53bn in 2013, compared with EUR1.26bn one year previously, an increase of 22%. All asset classes have a satisfactory balance sheet. While collective real estate shows EUR395m in gross inflows to SCPI funds, direct real estate, for its part, has seen double the inflows of 2012. Asset management activities have also doubled their assets managed by Roche Brune AM. Lastly, the life insurane policy SéréniPierre, launched in partnership with Suravenir, has taken in more than EUR400m in new inflows in 2013. Its activity serving institutional investors has not been left behind. Its inflows total EUR974m. In this context, the Primonial group now has managed or advised assets of over EUR7bn, the objective set at the beginning of 2013. These positive trends “place us in the best conditions to continue this dynamic in 2014,” says André Camo, chairman of the Primonial group, in a statement.

State Street, the world’s number two provider of exchange-traded funds (ETF), has launched its first three actively-managed ETFs in partnership with MFS Investment Management. The three funds concerned, SPRD MFS Systematic Core Equity ETF (SYE), Growth Equity ETF and Value Equity ETF, were launched on 9 January on the New York Stock Exchange.

Ramius, the international asset management firm from Cowen Group, which has over USD9bn in assets under management, has announced the appointment of Bradley Sussman as managing director, in charge of the Liquid Alternative Products division. Sussman previously worked at Merrill Lynch as a hedge fund strategist and member of the investment committee for alternative investments.

The investment group KKR on 9 January announced that it has finally raised USD2bn, two times more than initially planned, for a fund dedicated to companies in difficulty. The KKR Special Situations “has received the support of a diversified group of new and existing investors, including pension funds, sovereign funds, insurers, charities, private banking structures, family offices and private investors,” KKR says in a statement. KKR Special Situations is managed by 15 professionals based in London, New York, San Francisco and Sydney. Its objective is to earn “high profits,” by investing in opportunities created by “market dislocations,” “complex situations” and the existence of assets whose owners are required to sell rapidly. But KKR assures that its search for profit will be accompanied by a desire to be “a constructive partner” to the companies in difficulty. Among the investments made by the fund since its constitution are a stake in the French abrasive powder Winoa, the statement says.

In 2013, Consob, the Italian financial market regulator, issued fines totalling EUR32.6m, compared with only EUR9.26m in 2012, Il Sole – 24 Ore reports.

Peter Norhammar, who had been a manager at SEB until spring 2013, has joined Alfred Berg, the Swedish affiliate of BNP Paribas Investment Partners, the Swedish website Realtid.se reports. His arrival coincides with that of Petter Löfqvist, who had previously worked at Evli. They will both work on real estate and small caps. Commenting on these appointments, Tomas Scherp, CEO of Alfred Berg, says that the firm will soon be launching its Scandinavian small caps fund internationally.

In addition to the arrival of Schroders last year, amLeague is now welcoming the asset management firms Primonial and Exane AM. In the event, the platform is more than compensating for the outgoing competitors, Mandarine Gestion and Lombard Odier, which dropped out last year.

Paulson Europe LLP, the European entity from the US hedge fund Paulson & Co, has posted growth of 76% in its operating profits, to GBP6.5m, at the conclusion of its fiscal year on 31 March 2013, eFinancial News reports, citing documents published by Companies House. This strong growth is a sign of the recovery of the firm, which in its previous fiscal year, saw an 80% decline in its profits to GBP3.7m. Earnings from the European structure rose 14% year on year to a total of GBP152m.

Korean Investment Corporation (KIC), the Korean sovereign fund, which has USD65bn in assets, is seeking a new chief investment offier, following the departure of the incumbent, Lee Dong-Ik, Asian Investor reports. Lee, who has also been serving as interim chairman of KIC since the end of October 2013, resigned from his position with 15 months remaining on his three-year term, until April 2015. In the space of a few months, this is the second departure of a top manager from the institution, following the resignation of its chairman and CEO, Choi Chong-Suk, for personal reasons at the end of October 2013.

Michel Pinault has been elected as chairman of the sanctions commission at the French Autorité des marchés financiers (AMF), following a partial renewal of the terms of its members, the AMF announced in a statement on 9 January. Ms. Marie-Hélène Tric will chair the second section of the Commission.

The Netherlands-based pension fund PGGM has ceased to invest in five Israeli banks because they finance Jewish settlements and have branches in the West Bank, Investment Europe reports, citing the Israeli newspaper Haaretz. The fund’s decision is based on UN resolutions ruling that the settlements are illegal.

ING Investment Management has launched a European equity SRI fund aimed at retail and institutional investors in Europe and Africa, Citywire reports. ING IM announced the launch of the fund on 26 November at its annual press conference (Newsmanagers on 27 November 2013). The ING (L) Invest Sustainable Equities fund, domiciled in Luxembourg, was launched on 19 December, with EUR40m under management. The fund, which has 50 to 90 positions, will seek to outperform the MSCI Europe Net Index by 2% per year.

Julian Rifat, a former junior trader at Moore Capital, will be charged of insider trading by the British financial regulator, the Financial Conduct Authority, nearly four years after his arrest, the Financial Times reports. Rifat had previously denied all wrongdoing. He no longer works at Moore.

The British asset management firm Brooks Macdonald Funds has formed a new joint venture entitled North Row Capital, to manage the launch of a UCITS real estate fund. The vehicle, entitled IFSL North Row Liquid Property Fund and available from February, will be managed by Steven Grahame, former chief investment officer at Hermes Real Estate Alternatives and initiator of the project. The fund will offer investors liquid exposure to the global real estate market, investing primarily in derivatives, equities and real estate debt. The open-ended fund is aiming for total returns of 4.5% to 5.5%, with low volatility. The minimal initial investment in the vehicle is set at GBP10,000. IFSL North Row Liquid Property Fund is the first product on sale from the joint venture North Row Capital, controlled 60% by Brooks Macdonald, while the remainder is held by Steven Grahame and Gerald Parkes.

Mark Greenhoff, former equity manager at GLG Partners, was recruited in early 2014 by the British boutique Dalton Strategic Partnership as a senior analyst and an addition to its European long/short equity team, Citywire reports. Greenhoff has 18 years of experience in European equity markets, as he previously worked at BZW Investment Management, Royal London Asset Management and Millennium.

Royal London Asset Management (RLAM) announces two additions to its distribution team, together with the appointment of a head of proposition.Tracy Fennell joins as head of marketing, reporting to Rob Williams, head of distribution, as Newsmanagers had previously announced. She was previously head of marketing & communications at F&C Asset Management, prior to which she held marketing roles at Scottish Widows Investment Partnership, AXA Investment Managers and Newton Investment Management. She will be responsible for marketing strategy and implementation across all of RLAM’s distribution channels, as well as brand management and digital.Tracy Fennell succeeds Susan Spiller, who takes up a new role as head of proposition, responsible for product strategy, development and management.Finally, Louise Merritt joins as a product manager within the proposition team, reporting to Susan Spiller. She also previously worked at F&C Asset Management, as well as Aviva Investors, in product development roles. She will work alongside the existing members of the team on both new product development and management of the existing product range.

In a context of an ongoing price war, Vanguard Asset Management (AM) will at the end of January undertake a reduction in the fees for five funds of its LifeStrategy range. The five products will, from 31 January 2014, charge annual management fees of 0.29%, where they had previously ranged from 0.30% to 0.33%. The full range will also see its structure modified, from the NURS to the UCITS standards, in order to facilitate access to retail clients. Vanguard AM will also be revising its asset allocation policy for the fund, in order to bring more diversification in terms of countries, sectors and securities.

The majority of British independent financial advisers (IFAs) feel that sophisticated investors are underweight on the venture capital sector, according to a survey carried out by Albion Ventures. Advisers say that less than one fifth of their clients (17%) are directly exposed to venture capital, but 48% of them say that the exposure of their clients to venture capital is likely to rise in the next five years.

Assets under management at Rathbone Brothers rose 22.2% last year, or about GBP4bn, to a total of GBP22bn, according to a statement released on 9 January. In fourth quarter alone, assets increased by GBP1.2bn, or 5.8%. Funds managed by Rathbone Investment Management were up by GBP3.5bn, to a total of GBP20.2bn as of the end of 2013.

En 2013, les fonds de LBO (leverage buy-out) ont levé 152 milliards de dollars (112 milliards d’euros) de capitaux, selon les données compilées par le cabinet londonien Preqin reprise par L’Agefi. En apparence, le montant moyen des levées de fonds a également augmenté: 148 véhicules se sont partagés l’ensemble, les méga-fonds (plus de 4,5 milliards de dollars) s’arrogeant la part du lion. A huit, ils ont collecté 67 milliards de dollars l’an dernier. Ils représentent 44% du marché de levées de fonds. Chez ces géants, CVC est le seul à avoir réussi à boucler son méga-fonds en un temps record. En sept mois seulement, le fonds britannique a levé 10,5 milliards d’euros, note le quotidien.

En décembre, Banca Generali a enregistré des souscriptions nettes totales de 131 millions d’euros, portant le solde total pour 2013 à 2,26 milliards d’euros, rapporte Il Sole – 24 Ore. Cela représente une hausse de 40 % par rapport à l’exercice précédent. Les fonds et Sicav ont drainé 1,489 milliard d’euros, soit un bond en avant de 235 % par rapport à 2012.

Lazard Asset Management a annoncé le 9 janvier la nomination de Yugo Ishida, débauché de chez Nomura, au poste de directeur général de sa filiale au Japon avec pour mission d’accélérer le développement de la société de gestion en terre nippone. Au cours de sa carrière chez Nomura, Yugo Ishida a occupé différentes fonctions, dont celles de président et chief operating officer et, dernièrement, de conseiller du conseil d’administration de Nomura Asset Management.

Thomas Couvret a rejoint en janvier Banque Hottinger & Cie à Genève en tant que spécialiste produits, selon son profil LinkedIn. Il sera notamment chargé des ventes et du marketing en Suisse, en France et au Luxembourg.Thomas Couvret était précédemment sales manager chez URAM, une société de gestion basée à Genève et spécialisée dans les ressources naturelles. Auparavant, il était business development manager chez PIM Gestion France (devenue FourPoints Investment Managers après sa fusion avec IT AM) à Paris.

Ramius, la société de gestion internationale de Cowen Group, qui gère plus de 9 milliards de dollars, vient d’annoncer la nomination de Bardley Sussman en qualité de managing director, responsable de la division Liquid Alternative Products.Bradley Sussman travaillait précédemment chez Merrill Lynch en tant que stratégiste hedge fund, membre du comité d’investissement pour les investissements alternatifs.

Korean Investment Corporation (KIC), le fonds souverain coréen qui gère 65 milliards de dollars d’actifs, est en quête d’un nouveau chief investment officer à la suite du départ du titulaire du poste Lee Dong-Ik, révèle Asian Investor. Lee Dong-Ik, qui assure aussi le poste de président par intérim de KIC depuis fin octobre 2013, a démissionné de son poste alors qu’il lui restait 15 mois, soit jusqu’à avril 2015, à effectuer avant le terme de son mandat de trois ans.En l’espace de quelques mois, il s’agit du deuxième départ d’un cadre dirigeant au sein de l’institution, après la démission pour raison personnelle de son président et directeur général Choi Chong-Suk fin octobre 2013.

Primonial a connu une année faste en 2013. L’an dernier, le groupe français de gestion de patrimoine a enregistré une collecte qualifiée de «record» de 2,5 milliards d’euros. Les flux pour le compte de clients particuliers atteignent ainsi 1,53 milliard d’euros en 2013 contre 1,26 milliard un an plus tôt, soit une progression de 22 %. L’ensemble de ses classes d’actifs affichent un bilan satisfaisant. Si l’immobilier collectif affiche 395 millions d’euros de collecte brute en SCPI, l’immobilier direct a, pour sa part, vu sa collecte doubler par rapport en 2012. L’activité d’asset management a également enregistré un doublement de son encours géré par Roche Brune AM. Enfin, le contrat d’assurance vie SéréniPierre, lancé en partenariat avec Suravenir, a engrangé plus de 400 millions d’euros de flux nouveaux en 2013. Son activité auprès des investisseurs institutionnels n’est pas en reste. Sa collecte ressort en effet à 974 millions d’euros. Dans un tel contexte, le groupe Primonial affiche désormais un encours de plus de 7 milliards d’euros d’actifs gérés ou conseillés, soit l’objectif fixé en début d’année 2013. Autant de tendances positives qui «nous placent dans les meilleurs conditions pour continuer sur cette dynamique en 2014», a précisé André Camo, président du groupe Primonial dans un communiqué.

Exane Asset Management (AM) a rejoint depuis le 1er janvier la plateforme amLeague au sein de son mandat «actions européennes». Fondée en 2001, Exane AM est filiale à 80 % du groupe Exane détenu lui-même par son management et le groupe BNP Paribas. Dans le détail, la société de gestion représente l’un des trois métiers de l’entité, également présente dans l’intermédiation actions et les dérivés – actions essentiellement – en disposant par ailleurs d’une autre société de gestion Ellipsis AM spécialiste du crédit, des obligations convertibles et des produits structurés.Interrogé par Newsmanagers sur les raisons qui ont motivé la société de gestion à rejoindre ses homologues au sein du mandat amLeague, Pierre Sequier, son directeur général, a indiqué que dans la composition de sa clientèle, les institutionnels prenaient désormais une importance croissante, aux côtés des multigérants – alternatifs principalement – et de la gestion privée. Dans ce cadre, Exane AM, qui gère 2,2 milliards d’euros en France pour les 2/3 et le solde dans le reste de l’Europe, entend donner de la visibilité à son fonds «long» investi en actions européennes. Dans le détail, sa gamme d’OPCVM est surtout composée d’une offre historique de fonds de performance absolue utilisant des techniques de gestion long/short actions, sur des univers spécialisés avec une très faible sensibilité au marché actions. Mais depuis 2011, la société de gestion a franchi un cap en lançant son fonds actions européennes, Exane Equity Select Europe. Compte tenu de l’histoire et des compétences de la maison, la gestion de ce fonds repose sur le travail de 10 gérants-analystes spécialistes de leur secteur et 2 gérants transversaux pour la construction de portefeuille. Concrètement, à partir de l’indice MSCI Europe, la gestion a découpé ce dernier en treize secteurs pour - sans faire d’allocation d’actifs et déformer la structure de l’indice – opérer au sein de chaque secteur un libre choix de valeurs générateur d’alpha. En effet, chaque gérant-analyste sélectionne un nombre réduit de valeurs correspondant à ses plus fortes convictions, à travers une approche bottom up. Quant aux gérants «transversaux», ils ont pour responsabilité de les assembler en suivant un processus de gestion rigoureux - en s’assurant, par exemple, d’une neutralité sectorielle mais également en veillant à ce qu’il n’y ait pas de biais géographique marqué résultant du stock-picking des gérants. Enfin, Exane Equity Select Europe est structuré en deux poches complémentaires : une poche principale (poche d’Investissement) composée d’environ 40 valeurs et constituées des convictions fondamentales les plus fortes des 10 experts sectoriels (gérants-analystes), et une poche tactique plus mobile directement fondée sur l’expérience boursière accumulée sur la gestion long/short. Dans le mandat d’amLeague, Exane AM sera naturellement représentée via la poche fondamentale de son portefeuille. La structure du fonds doit lui permettre de présenter un ratio d’information élevé tout en affichant une tracking error relativement faible – de l’ordre de 3 % à 4 %. Peu représentatives compte tenu de la jeunesse du fonds, ses perfomances sont néanmoins supérieures à celle de son indice en 2012 - de deux points de pourcentage - et en 2013, - de quatre points de pourcentage.

State Street, numéro deux mondial des exchange-traded funds (ETF), a lancé ses trois premiers ETF gérés de manière active en partenariat avec MFS Investment Management. Les trois fonds concernés – SPRD MFS Systematic Core Equity ETF (SYE), Growth Equity ETF et Value Equity ETF – ont été introduits ce 9 janvier sur le New York Stock Exchange.