Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
01/02/2013

Deutsche Bank : plongeon du bénéfice de la gestion d'actifs

Pour l’ensemble de 2012, la division gestion d’actifs et de fortune (AWM) de la Deutsche Bank affiche un bénéfice avant impôt 160 millions d’euros contre 942 millions bien que le chiffre d’affaires ait augmenté à 4.466 millions d’euros contre 4.277 millions.Au quatrième trimestre, AWM affiche une perte avant impôt de 260 millions d’euros contre des bénéfices de 116 millions pour juillet-octobre et de 211 millions pour la période correspondante de 2011, le chiffre d’affaires revenant à 1.100 millions contre respectivement 1.232 millions et 1.172 millions.La perte de 260 millions d’AWM est imputable à des dépréciations de 202 millions d’euros sur Scudder, à 90 millions de dépréciations liées à l’informatique ainsi qu'à des charges liées à des contentieux.De fait, le coefficient d’exploitation (cost-income ratio) d’AWM est ressorti à 123 % en octobre-décembre, ce qui a détérioré cet indicateur à 96 % pour l’ensemble de 2012 contre 77 % pour l’année précédente.Le groupe Deutsche Bank accuse pour sa part une perte de 2.153 millions d’euros pour le quatrième trimestre, ce qui réduit son bénéfice net à 665 millions d’euros pour 2012 contre 4.326 millions pour l’ensemble de l’année précédente.
01/02/2013

Forte amélioration de la performance d'APG

Selon Fondsnieuws, le fonds de pension néerlandais APG a indiqué dans une note interne que sa performance est ressortie en 2012 entre 13,7 et 16,9 %, ce qui est largement supérieur aux 3,3 % de gains affiché par ABP.APG a déjà annoncé qu’il va réduire ses prestations de 0,5 % à partir d’avril.
01/02/2013

Norron recrute un ancien de Catella

La société de gestion suédoise Norron a recruté Stefhan Klang en tant que responsable commercial pour ses fonds, rapporte Fondbranschen. L’intéressé était précédemment directeur général de l’activité de fonds de Catella. Norron gère 1,8 milliard de couronnes suédoises au travers de 5 fonds.
01/02/2013
Fonds

BlackRock possède désormais 8 % de Manchester United

Le géant de la gestion BlackRock a indiqué qu’il possède désormais 8 % du capital du club de football anglais Manchester United, ce qui représente 3,3 millions d’actions. Le club de football a été introduit à la Bourse de New York en août dernier, précise Investment Week.
Fonds
01/02/2013

Stabilité des actifs sous gestion de Brewin Dolphin

Les actifs sous gestion de Brewin Dolphin s’inscrivaient fin 2012 à 26 milliards de livres, pratiquement inchangés par rapport à fin septembre, selon les chiffres publiés le 31 janvier. Le dernier trimestre s’est terminé sur une collecte nette nulle mais sur un effet marché positif de 100 millions de livres.Le bénéfice trimestriel s’est inscrit à 67,85 millions de livres, en hausse de 13,7% par rapport au quatrième trimestre 2011 mais en recul de 5% par rapport au troisième trimestre 2012 en raison de la réduction des commissions de suivi dans le cadre de la préparation à la réglementation RDR entrée en vigueur le 1er janvier dernier.
01/02/2013

Fidelity recrute un directeur des ventes retail au Royaume-Uni

Fidelity a recruté Russel Lancaster, actuel directeur de la distribution de RSA Group, au poste de directeur des ventes retail au Royaume-Uni. Il prendra ses nouvelles fonctions au mois de mars et travaillera sous la direction de Ben Waterhouse, directeur des ventes UK.
01/02/2013

BIL (Suisse) veut doubler ses actifs sous gestion à court terme

La Banque Internationale à Luxembourg Suisse, acquise en octobre dernier par le groupe d’investisseurs qatari Precision Capital, veut doubler, à court terme, ses actifs sous gestion, qui s'élèvent actuellement à 2,2 milliards de francs. «L’arrivée du nouvel actionnaire signe le début d’un nouveau chapitre pour nous», explique Michel Wohl, CEO de BIL Suisse depuis deux ans. L’objectif de la banque est d’atteindre 5 milliards de francs sous gestion à court terme, puis rapidement 10 milliards, soit la taille souvent considérée comme critique dans la gestion privée d’aujourd’hui. La filiale suisse de la banque luxembourgeoise vise en priorité les marchés comme la Turquie, les pays de l’Est et l’Amérique latine, en particulier le Pérou et le Chili.
01/02/2013

Julius Baer démarre le transfert de la gestion de fortune internationale de Merrill Lynch

La banque privée suisse Julius Baer a annoncé le 1er février le lancement de l’opération principale de bouclage de son acquisition de l’activité International Wealth Management (IWM) de Merrill Lynch. Cette première phase marque le démarrage du transfert de l’activité et de son intégration qui devrait durer deux ans environ, précise un communiqué. Durant cette période, les entités IWM, les conseillers financiers, leurs relations clients et les actifs sous gestion correspondants seront transférés à Julius Baer dans le cadre d’un processus échelonné dans plus de 20 sites, sous réserve de l’accomplissement des conditions locales préalables.La première étape de l’acquisition et du processus de transfert de l’activité est l’acquisition de Merrill Lynch Bank (Suisse) S.A. et de ses succursales à Zurich et Dubaï par Julius Baer Groupe SA à la date de l’opération principale de bouclage du 1er février 2013. Ce processus englobe la totalité de la banque suisse avec une forte base internationale de clients et des actifs sous gestion d’environ 11 milliards de francs suisses. Merrill Lynch Bank (Suisse) S.A. doit fusionner au sein de Banque Julius Baer & Cie SA à l'été 2013.Boris Collardi, CEO de Julius Baer cité dans le communiqué, relève que «l’activité IWM s’avère être un excellent ajout stratégique qui renforce la présence de Julius Bär sur les principaux marchés en croissance et qui élargit considérablement notre base d’actifs». Julius Baer donnera plus de détails sur l'état et l'évolution future de l’acquisition, du transfert d’actifs et du processus d’intégration le 4 février 2013, lors de la présentation des résultats annuels 2012.
01/02/2013

Nomination à la VP Bank

Le conseil d’administration de VP Bank a nommé Alfred Moeckli au poste de Chief Executive Officer (CEO) à compter du 1er mai. Alfred Moeckli reprend le poste que se partageaient de façon intérimaire depuis juillet 2012 Siegbert Näscher, Chief Financial Officer (CFO), et Juerg Sturzenegger, Chief Operating Officer (COO), selon un communiqué publié le 31 janvier.Alfred Moeckli était auparavant CEO de la banque Zweiplus AG, Zurich, poste qu’il a occupé depuis 2010. Il avait aussi été à différents postes chez Falcon Private Bank, Tradejet, INIVEST et à la banque Swissquote. Il a aussi fait partie du conseil d’administration de la banque Zweiplus.MM. Näscher et Sturzenegger reprendront tous deux leurs fonctions respectives en tant que CFO et COO.
01/02/2013

Assets under management stable at Brewin Dolphin

Assets under management at Brewin Dolphin as of the end of 2012 totalled GBP26bn, virtually unchanged compared with the end of September, according to statistics released on 31 January. The quarter finished with zero net inflows, but a positive market effect of GBP100m. Quarterly profits totalled GBP67.85m, up 13.7% compared with fourth quarter 2011, but down 5% compared with third quarter 2012, due to a reduction in trail commissions as part of preparation for RDR regulations, which came into force on 1 January this year.
01/02/2013

Fidelity recruits a head of retail sales for UK

Fidelity has recruited Russell Lancaster, currently head of sales at RSA Group, as director of retail sales for the United Kingdom. He will begin in March, and will report to Ben Waterhouse, director of UK sales.
01/02/2013

BNP Paribas SS extends product range in UK

Six months ahead of the introduction of the AIFM directive (23 July), BNP Paribas Securities Services has announced the launch of custody and depository services on the British market, Funds People reports.James McAleenan, head of BNPP SS in the United Kingdom, says adapting to the directive is not a simple process, and represents a major challenge for the sector, as legislation requires that new infrastructure and new distribution networks be set up.
01/02/2013

WisdomTree launches actively-managed bond ETF

New York-based asset management firm WisdomTree on 31 January announced the launch of an actively-managed ETF which will invest in global corporate bonds, the WisdomTree Global Corporate Bond Fund (Nasdaq ticker: GLCB), which will be sub-advised by Western Asset Management Company (Legg Mason group), like the WisdomTree Emerging Markets Corporate Bond Fund (EMCB).The portfolio will mainly be composed of investment-grade bonds, and the objective will be to keep duration within a range of 2-10 years. Exposure to non-US securities will be hedged for currency risks.The total expense ratio is 0.45%.
01/02/2013

Strong inflows in December for French-registered equity and bond funds

In December 2012, statistics from Europerformance show net inflows to all families of French-registered bond and equity funds, with EUR130.03bn for the former, and EUR461.95bn for the latter. Overall, these net subscriptions have not prevented a few major variations in some categories. In the bond asset class, net outflows totalled EUR138.14m for funds invested in the euro zone, or EUR54.27m for international bond funds. However, high yield bond funds have posted strong inflows EUR371.65m. For equity funds, the scenario has been similar. Net infows totalled EUR461.95 in one month, but Asia-Pacific and international equity funds have contributed strongly, with inflows of EUR173.66m and EUR205.95m, respectively, while funds invested in Europe and the US market have seen net outflows of EUR141.05bn and EUR41.10bn. Money market funds have seen outflows of EUR16.42bn, with net outflows of EUR15.171bn from regular treasury funds alone. Net redemptions from French-registered OPCVM products in December totalled EUR16.74bn. Lastly, in terms of performance, all categories of funds have posted returns, excepting international treasury funds (-4.78%), funds of bonds denominated in US dollars (-2.64%), and Middle East North Africa equity funds (-0.91%).
01/02/2013

BlackRock now controls 8% of Manchester United

The asset management giant BlackRock has announced that it now controls 8% of capital in the English football club Manchester United, with 3.3 million shares. The FC held its IPO on the New York stock exchange in August last year, Investment Week reports.
01/02/2013

Vontobel AM USA has over USD36bn in assets under management

Assets under management at Vontobel Asset Management USA (VAMUS), a boutique of the Zurich-based Vontobel group based in New York, as of the end of 2012 totalled over USD36bn, according to a statement released on 31 January. Vontobel says in a statement that the Quality-Growth product line has posted good results, particularly for emerging markets and international equtiies. As of the end of October last year, the Vontobel group overall had CHF96bn in asstes under management, while assets under management by VAMUS totalled CHF30bn at that time.
01/02/2013

BIL (Switzerland) plans to double short-term assets under management

The Banque Internationale à Luxembourg Switzerland, which was acquired last October by the Qatari investment group Precision Capital, is planning to double its assets under management in the short term, from a total of CHF2.2n currently. “The arrival of a new shareholder is a sign of the beginning of a new chapter for us,” explains Michael Wohl, CEO of MIL Switzerland for two years. The objective for the bank is to achieve CHF5bn in assets under management in the short term, and then soon to reach CHF10bn, the size considered critical in private asset management today. The Swiss affiliate of the Luxembourg bank is aiming at markets such as Turkey, Eastern Europea and Latin America, particularly Peru and Chile, as top priorities.
01/02/2013

Lyxor AM appoints head of institutional sales for German-speaking Switzerland

Lyxor Asset Management has appointed David Keel as head of institutional sales for German-speaking Switzerland. He will be based in Zurich, and will report to Olivier Stahlkopf, head of sales for Germany, Austria and German-speaking Switzerland. Keel will primarily aim to develop sales for the range of multi-asset solutions and alternative management at Lyxor. Before joining Lyxor, Keel was head of activities serving Swiss institutional clients at Barclays Capital Funds Solutions.
01/02/2013

Julius Baer begins transfer of Merrill Lynch's international wealth management

The Swiss private bank Julius Baer on 1 February announced that it has begun the process of completing its acquisition of the International Wealth Management (IWM) activities of Merrill Lynch.This first phase marks the beginning of the transfer of its activities and its integration, which is expected to last about two years, a statement says. In this period, the IWM entities, financial advisers, customer relationships and corresponding assets under management will be transferred to Juilus Baer as part of a gradual process which will proceed at more than 20 sites, pending the fulfilment of preconditions.The first step in the acquisition and transfer process is the acquisition of Merrill Lynch Bank (Suisse) S.A., and its branches in Zurich and Dubai by Julius Baer Group SA, with an initial completion date of 1 February 2013. That includes the whole of the Swiss bank, with a strong international client base and assets under management of about CHF11bn. Merrill Lynch Bank (Suisse) S.A. will merge with Julius Baer & Cie SA in summer 2013.
01/02/2013

Norron hires former Catella manager

The Swedish asset management firm Norron has recruited Stefhan Klang as head of sales for its funds, Fondbranschen reports. Klang had previously been CEO of the fund activity at Catella. Norron has SEK1.8bn under management in 5 funds.
01/02/2013

Australia's Easton Investments buys stake in AAM Advisory

The Melbourne-based asset management firm Easton Investments has acquired a 19.9% stake in the Singapore-based consulting firm AAM Advisory, Asian Investor reports. Easton Investments would like to develop its activities in Singapore, and in the next twelve months is aiming for advised assets of SGD1bn, and assets under management of SGD300m. AAM Advisory, which provides advisory services to high net worth expatriate clients in Singapore, has advised assets of over SGD250m.
01/02/2013

Strong increase in assets for pension funds

According to a Towers Watson survey, assets in pension funds in the 13 largest countries in the world in this area (Australia, Brazil, Canada, France, Germany, Hong Kong, Ireland, Japan, the Netherlands, South Africa, Switzerland, the United Kingdom and the United States) increased by 8.9% last year, to a total of USD29.754trn as of the end of 2012, equivalent to 78.3% of GDP, compared with 72.2% one year previously, but 78.8% as of the end of 2007.In the past ten years, assets in defined contribution funds increased by an average of 7.8% per year, while defined-benefit funds grew by 6.6% per year.The largest markets are the United States, Japan and the United Kingdom, with 56.6%, 12.5% and 9.2% of total assets covered by the study, respectively, while the increase in 2012 was 10%, 0.5% and 9.9%.As of the end of December, the average allocation in the seven largest markets (95% of the 13 countries), Australia, Canada, Japan, the Netherlands, Switzerland, the United Kingdom and the United States, was 47.3% to equities, 32.9% to bonds, 1.2% to cash, and 18.6% to other assets.
01/02/2013

Deutsche Bank: asset management profit collapses

For 2012 as a whole, asset and wealth management (AWM) at Deutsche Bank posted pre-tax profits of EUR160m, compared with EUR942m, while earnings were up to EUR4.466bn from EUR4.277bn.In fourth quarter, AWM posted pre-tax losses of EUR260m, compared with profits of EUR116m in July-October, and EUR211m in the corresponding period of 2011, while earnings totalled EUR1.1bn, compared with EUR1.232bn and EUR1.172bn, respectively.Losses of EUR260m in AWM are due to impairments of EUR202m for Scudder, EUR90m in write-downs related to IT, and costs associated with lawsuits.The cost-income ratio for AWM totalled 123% in October-December, which deteriorated this indicator to 96% for 2012 as a whole, from 77% for the previous year.The Deutsche Bank group, for its part, has posted net losses of EUR2.153bn in fourth quarter, which reduces its net profits to EUR665m for 2012, compared with EUR4.326bn for the previous year.
01/02/2013

Appointment at VP Bank

The board of directors at VP Bank has appointed Alfred Moeckli as chief executive officer (CEO) from 1 May. Moeckli takes up a position which had been shared in the interim since July 2012 by Siegbert Näscher, chief financial officer (CFO), and Juerg Sturzenegger, chief operating officer (COO), according to a statement released on 31 January. Moeckli had previously been CEO of the Zweiplus ag bank in Zurich, a position he had held since 2010. He also held various positions at Falcon Private Bank, Tradejet, INIVEST and the Swissquote bank. He also belonged to the board of directors at Zweiplus bank. Näscher and Sturzenegger will both return to their previous roles as CFO and COO.
01/02/2013

Strong improvement in performance of APG

Fondsnieuws reports that the Netherlands pension fund APG has announced in an internal memo that its performance in 2012 totalled between 13.7% and 16.9%, which is considerably higher than the 3.3% in gains for ABP.APG has already announced that it will be reducing its benefits by 0.5% from April.
01/02/2013

Contrasting results for asset management at Santander

In 2012, the management of investment funds at Santander earned net profits of EUR59m, up 3.9%, while profits for pension funds were EUR10m, 3.1% less than in 2011.Groupwide, net profits last year were down 22% to EUR2.205bn, after EUR18.8bn in write-downs for real estate risks.
01/02/2013

Very good start to the year for JP Morgan AM

For JP Morgan Asset Management, the year 2012 is starting out under a good sign in Europe. Inflows in the first weeks of the year totalled about USD2bn in Euorpe, Karine Szenberg, CEO of JPMorgan Asset Management France, announced on 31 January at the asset management firm’s annual press conference.“2013 started with fanfare,” Szenberg said, adding that inflows went to credit, somewhat to emerging market equities, and the remainder to European equities. Last year, the Paris office of JP Morgan Asset Management posted net subscriptions totalling USD1.2bn.“Inflows are once again going to high-risk assets,” says David Shairp, a strategist in the Global Multi Asset Group at JP Morgan AM, who remains “prudently optimistic” about 2013. “Europe is still in intensive care, but the situation has stabilised, and we can’t rule out good surprises,” he said, observing that inflation is still far from posing a problem.In the area of emerging markets, Pierre-Yves Bareau, director of emerging market management at JPMAM, estimates that high yield should be targeted instead of investment grade, with close attention to the signatures, and local interest rates, as well as idiosyncratic issuers in frontier markets such as Sri Lanka, the Dominican Republic and Nigeria.Richard Titherington, head of emerging market equity management at JPMAM, says that an examination of valuations argues in favour of an increase in exposure to emerging market equities, where profits have recovered along with outperformance. However, Titherington warns, “outlooks for better returns also present the risk of higher volatility.”
01/02/2013

Strong growth in assets and profits at Blackstone

For 2012, Blackstone has announced net economic income of USD1.9953bn, compared with USD1.5392bn the previous year (+30%). Distributable earnings increased more sharply, up 48% to USD1.0339bn, from USD696.7m.Total assets as of the end of December reached a record USD210.22bn, up from USD166.23bn one year previously. Fee-earning assets under management, for their part, totalled USD167.9bn, compared with USD136.8bn as of 31 December 2011, of which USD43.5bn, compared with USD37.8bn, were for the hedge fund solutions division, which has total assets of USD46.1bn, compared with USD40.5bn.Blackstone states that net subscriptions to fee-earning AUM totalled USD2.4bn for last year as a whole.
01/02/2013

Profits at Invesco down in 2012

Net profits at Invesco Ltd in 2012 totalled USD776.7bn, which represents a 0.6% decline compared with the previous year. The Atlanta-based asset management firm on 31 January reported assets as of 31 December up by USD62.4bn, or 10%, year on year, to USD687.7bn, while net subscriptions fell by nearly half to USD12.5bn, from USD24.5bn.
01/02/2013

Noticeable expansion for NExT AM in 2012

NExT AM, an affiliate spun off from La Française AM last year, led by Nicolas Duban, as of the end of December held 17 stakes with total assets of over EUR4bn (+10% year on year), while the contractual FCP NExT Invest, launched in March 2011, which already had assets of EUR110m, in 2012 posted returns of 5.42%; this is a seed valuation “which meets expectations by combining prudent management and a valuation of acquisitions of stakes in capital over the long term.”In 2012, NexT AM sold five stakes in Pythagore, Klimek Advisor, Debory Eres, Métropole Gestion and La Financière de la Cité. All of these were sold to management and shareholders in the businesses. Meanwhile, four asset management firms began their activities last year with the support to NExT AM: Trecento AM, Cedrus AM, Swell Am and Flornoy et associés.Lastly, NExT AM has agreed to a fee sharing partnership with Twenty First Capital, to launch the Infra Green FCPR fund.

Sujets d'actualité

Tous les sujets