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23/10/2012
Fonds

Lyxor propose des ETF de "govies" France et Italie

Sur la plate-forme parisienne de NYSE Euronext, Lyxor Asset Management vient de faire admettre à la négociation deux ETF «risk balanced» de droit français répliquant des indices MTS sur la dette souveraine français et italienne pour un à trois ans.Il s’agit des fonds LYXOR ETF MTS 1-3Y France Government Bond C-EUR (FR0011313733) et LYXOR ETF MTS BTP 1-3y Italy Government Bond C-EUR (FR0011313741), chargés chacun à 0,165 %.
Fonds
23/10/2012

Le gérant star Thomas Steyer quitte sa société de hedge funds

Thomas Steyer, l’un des meilleurs gérants de hedge funds, a annoncé qu’il quitter Farallon, la société de 20 milliards de dollars qu’il gère depuis 27 ans, rapporte le Financial Times. Dans une lettre aux investisseurs, l’homme âgé de 55 ans indique qu’Andrew Spokes, co-managing partner, lui succèdera à la fin de l’année. Depuis son lancement, le fonds vedette de Farallon a dégagé un rendement annuel moyen de 13,4 % pour les investisseurs, après frais.
23/10/2012

Natixis et l’EDHEC-Risk Institute ouvrent une chaire de recherche sur la dette infrastructure

Natixis et l’EDHEC-Risk Institute ont annoncé hier avoir ouvert une chaire de recherche intitulée « Caractéristiques d’investissement et de gouvernance des instruments de dette infrastructure ». L’objectif de cette chaire est de contribuer à clarifier la nature et les caractéristiques d’investissement de la dette infrastructure pour pallier l’insuffisance de données disponibles sur le sujet, indique un communiqué. Cette chaire se concentrera en particulier sur les caractéristiques du profil de risque et du rendement des instruments de la dette infrastructure et leur apport en termes de diversification de portefeuille pour les investisseurs institutionnels. Le programme de recherche sera dirigé, au sein de l’EDHEC-Risk Institute, par le directeur de recherche Frédéric Blanc-Brude, qui a publié de nombreuses études sur le sujet. Il présentera la chaire et ses premiers travaux à l’occasion du premier colloque « European Infrastructure Day » organisé par Natixis le 23 octobre à Paris.
23/10/2012

Gottex Brokers Alternative ouvre un bureau à Los Angeles

L’activité aux Etats-Unis du courtier lausannois Gottex Brokers Alternative sera dorénavant exercée par Gottex Brokers Alternative USA, qui vient d’ouvrir un bureau à Los Angeles, rapporte Investment Europe. La filiale américaine sera dirigée par Bruno Bardavid. Elle prodiguera ses services aux hedge funds, aux fonds de fonds, aux family offices, aux gérants externes, aux établissements publics, aux fonds souverains, aux banques privées et d’investissements, aux conseillers en investissements et aux fonds de pension.
23/10/2012
Fonds

Premier closing pour le nouveau fonds de 360 Capital Partners

La société de capital risque 360 Capital Partners vient de finaliser un premier closing de 60 millions d’euros pour son nouveau fonds qui réunira à terme plus de 100 millions d’euros. Ajouté aux fonds précédents, cela porte ses actifs sous gestion à plus de 300 millions d’euros, précise un communiqué.Le nouveau fonds est destiné à financer des start-ups innovantes, particulièrement en phase d’amorçage, pour des montants compris entre 100 000 euros et 1 million d’euros, et en phase de forte croissance pour des montants entre 1 million et 5 millions d’euros.
Fonds
23/10/2012

Marie-Jeanne Missoffe rejoint Mandarine Gestion

Marie-Jeanne Missoffe rejoint Mandarine Gestion pour renforcer l’équipe de gestion «Actions croissance». L’ancienne gérante actions européenne de la SPGP intègre l’équipe de Joëlle Morlet-Selmer et Diane Bruno, respectivement gérante et co-gérante du fonds actions croissance Mandarine Opportunités et du fonds Mandarine Unique - European Small & Mid cap.Marie-Jeanne Missoffe avait quitté SPGP en début d’année. Elle y gérait le fonds Cap Grande Europe. Auparavant, elle avait occupé les postes de co-responsable de la gestion Small & Mid cap européenne chez Ixis AM et gérante actions européennes chez CDC Gestion."L’arrivée de Marie-Jeanne Missoffe au sein de Mandarine Gestion va nous permettre de renforcer notre offre de gestion sur les actions de croissance pour répondre à la demande croissante de nos investisseurs qui montrent aujourd’hui un véritable appétit pour ce type de gestion», commente Rémi Leservoisier, directeur général de Mandarine Gestion.
23/10/2012

La Française REM achète un immeuble à Nantes

La Française Real Estate Managers (REM) annonce avoir fait l’acquisition en VEFA auprès de la société Adim Ouest, pour le compte de ses SCPI, de l’ensemble « Nouvelle Vague » située sur le Mail Pablo Picasso dans la ZAC Euro Nantes à Nantes.L’immeuble en R+7 compte une surface utile de 9.397 m² à usage de bureaux avec 125 places de parking. Les travaux de construction ont débuté en juin 2012 et la livraison est programmée pour le premier trimestre 2014.
23/10/2012

Prudential Financial conclut un partenariat avec Verizon

Le groupe américain Prudential Financial a annoncé la signature d’un accord avec Verizon Communications portant sur le transfert d’un programme de pension portant sur un montant d’environ 7,5 milliards de dollars. Le transfert, qui concerne quelque 41.000 collaborateurs de Verizon, devrait intervenir en décembre prochain.
23/10/2012

Fréderic Lorenzini quitte Morningstar France

Frédéric Lorenzini ,qui occupe la fonction de directeur de la Recherche de Morningstar France, a annoncé son départ de la société à la fin du mois. Il y a travaillé pendant onze ans et y a débuté en tant que rédacteur en chef. Selon nos informations, le cadre entend mener un projet entrepreneurial. Depuis janvier 2012, Frédéric Lorenzini est membre de la commission Consultative Epargnant de l’Autorité des marchés financiers.
23/10/2012
Fonds

Ossiam lance Ossiam ETF World Minimum Variance

Comme annoncé la semaine dernière par Newsmanagers, la société de gestion Ossiam a complèté son offre «smart beta» en ayant lancé hier un nouvel ETF sur indice de stratégie minimum variance sur actions internationales issues des marchés développés. L’ETF réplique ainsi la performance de l’indice de stratégie Ossiam World Minimum Variance Index NR (Net dividendes réinvestis) dont l’objectif est de délivrer la performance d’une sélection des titres les plus liquides du S&P Global 1200® Index NR2, pondérés de façon à minimiser la volatilité du portefeuille. Le fonds, Ossiam ETF World Minimum Variance NR (*), est coté sur NYSE Euronext Paris, Borsa Italiana à Milan et sur la Deutsche Börse à Francfort.(où il est le 1.005ème fonds sur le segment XTF de la plate-forme électronique Xetra). Il sera coté à Londres le 29 octobre prochain.L’ETF affiche un TFE de 0,65% par an avec un total d’actifs sous gestion s’élevant à 15,7 millions d’euros en date du 18 octobre 2012.(*) code mnémonique WOMV ; code Isin LU0799656698
Fonds
23/10/2012

La Deutsche Bank se renforce en gestion de fortune à Londres

Le pôle gestion de fortune de la Deutsche Bank à Londres vient de recruter deux chargés de clientèle, Matthew Garnham et Corin George, rapporte Investment Europe.Tous deux seront chargés de développer la clientèle fortunée de la banque à la City.Matthew Garnham travaillait précédemment chez Lombard Odier, Corin George chez Coutts.
23/10/2012

Sanlam Investment acquiert le bermudien P2 International

La société de gestion Sanlam Investment Management vient de prendre une participation majoritaire dans la firme d’investissement basée aux Bermudes P2International, rapporte FundWeb.Cette acquisition permettra aux clients de Sanlam d’avoir accès à des stratégies d’obligations et d’actions internationales. De son côté, P2International pourra développer ses activités en Afrique, en Asie, en Europe et au Moyen-Orient.
23/10/2012
Fonds

Source s'adjuge 24% de la collecte d'ETP en septembre

Le fournisseur d’ETP Source a indiqué qu’il s'était adjugé 24% de la collecte nette en Europe au mois de septembre, soit le taux le plus élevé parmi les acteurs européens de ce marché, selon Investment Europe.Les investisseurs ont alloué plus de 5 milliards de dollars dans des ETP en septembre, une progression de 5% d’un mois sur l’autre.
Fonds
23/10/2012

Strong growth in ETFs since 2008

Allocations to ETFs have increased by nearly 6 percentage points since 2008, according to estimates by Cerulli (“The Cerulli Edge-Managed Accounts Edition.”).The proportion of ETFs in portfolios increased from 2.8% in 2008 to 8.7% as of the end of second quarter 2012. Assets under management in ETFs now total about USD1.16trn, compared with USD532bn as of 2008. In managed accounts, ETFs total USD220bn, compared with USD39bn previously.The study also finds that there is an increased need for due diligence, insofar as a greater number of managers are now offering actively-managed ETFs. Cerulli also points out that a growing number of broker-dealers now have ETF strategists responsible for helping advisers develop tactical strategies for their clients’ portfolios.
23/10/2012

BNY Mellon scales up corporate trust activities in Germany

With 10 years of experience in the area of corporate trusts at BNP Paribas Securities Services, Christopher Meitzner is joining BNY Mellon as senior relationship manager for corporate trust activities in Germany, Austria and Switzerland. He will report to Thomas Brand, head of investment services at BNY Mellon for Germany.Chris Strakosh remains as sales manager for corporate trusts.
23/10/2012

Sanlam Investment acquires Bermuda's P2 International

The asset management firm Sanlam Investment Management has acquired a majority stake in the Bermuda-based investment firm P2 International, Fund Web reports.The acquisition will allow clients of Sanlam to have access to international bond and equity strategies. For its part, P2 International may develop its activities in Africa, Asia, Europe and the Middle East.
23/10/2012

Investors unite against greenhouse gas emissions

A group representing investors including British charities and pension funds is planning to target 350 FTSE companies identified as slow to enact measures to reduce their greenhouse gas emissions, Financial Times Fund Management reports. The investors are focusing on companies in the utilities and mining industries.
23/10/2012

Record dividend payments in third quarter

Payments of dividends in the United Kingdom totalled GBP23.2bn in third quarter, up 10.4% compared with last year, according to statistics from Capita Registrars, Money Marketing reports.For the year as a whole, dividends may total a record GBP78.6bn, while the previous pre-crisis record was GBP77bn.
23/10/2012

Deutsche Bank scales up wealth management in London

The wealth management unit at Deutsche Bank in London has recruited two client advisers, Matthew Garnham and Corin George, Investment Europe reports.Both will be responsible for developing high net worth banking clients in the City.Garnham previously worked at Lombard Odier, while George joins from Coutts.
23/10/2012

AIMA favours depository passports

The International Alternative Management Association (AIMA) has announced that it favours a depository passport for UCITS-compliant funds, in its response to a consultation on the UCITS V directive. It approves of the majority of the contents of the proposals.In a statement released on 22 October, the association observes that the development assumes a harmonisation fo requirements related to the depository function, and lays out a series of recommendations, including requirements for depository establishments.The association also invites European institutions to bring its requirements for remuneration and depository regimes into line with the requirements laid out in the AIFM directive, which will come into force in July 2013.Andew Baker, CEO of AIMA, says “we feel that the time has come to have a frank discussion about the introduction of a depository passport. Such a passport would provide more competition and choice for managers and investors, and would eliminate a significant barrier to the single market. Without this passport, there is a risk of a lack of competition in the depository sphere, and as a result, an increase in systemic risk.”
23/10/2012

S&P offers new EM equity index

With the S&P Smit 40, S&P Dow Jones Indices is launching a new index which will cover equities in four emerging markets: South Korea, Mexico, Indonesia and Turkey, Das Investment reports. It will include only companies whose market capitalisation is over USD1bn, and for which the daily trading volume is at least equal to USD5m over the past three months. The index will include the ten largest companies from each country.UniCredit has already acquired the license for the index.
23/10/2012

Record assets in hedge funds

As of 30 September, assets under management in hedge funds totalled a new record of USD2.19trn, beating the previous record set in March. Assets increased by USD80bn in third quarter, and USD183bn since the beginning of the year, according to statistics from Hedge Fund Research (HFR).Net subscriptions totalled USD10.6bn in July-September, and USd31bn in the first nine months of the year.However, despite these results, HFR estimates that if subscriptions continue at the same pace in fourth quarter, 2012 will have the lowest net inflows since 2009, a year when investors actually pulled out a net USD131bn from hedge funds.The HFRI Weighted Composite Index in third quarter posted an increase of 3%, meaning that performance effects generated an increase of about USD70bn in asset volumes.In detail, HFR states that the relative value arbitrage strategy posted a net inflow of USD12.6bn in third quarter, bringing total net inflows to USD35bn in the first three quarters of the year, and assets to USD586bn as of the end of September. This is the same total as for the equity hedge strategy, which has seen net outflows of USD5.2bn in July-September.
23/10/2012

RDR regulations may eliminate the smallest clients

Nearly two thirds of independent financial advisers estimate that one of the consequences of RDR regulations which will come into force in early 2013 in the UK will be that it will eliminate some retail clients, Fund Web reports. With the introduction of the new rules, portfolios of less than GBP50,000 will no longer be profitable, advisers claim, according to a survey undertaken by Allianz Global Investors of 166 IFAs.The survey also finds that 60% of advisers consider it inevitable that their product range will change, while 36% predict that their services to more modest clients will decline, 16% predict that they will no longer serve clients of this type, and 6% are unsure.About 14% of participants in the survey say that they have raised their prices for the most modest clients, while 13% say they will maintain their level of service to these clients, even if that decision entails losses.
23/10/2012

Some real estate funds in liquidation are late with redemptions

Berlin-based agency Scope has found that managers of German open-ended real estate funds in the process of liquidation are generally not in a hurry to pay out redemptions to their shareholders, with the possible exception of KanAm: the decision to liquidate the KanAm US grundinvest fund was announced in September 2010, and since then, the entire portfolio has been sold off. Meanwhile, KanAm has already paid out EUR463m to shareholders, equivalent to 84.5% of assets. However, Scope notes, the DEGI Europa and Morgan Stanley P2 Value funds have so far paid out only EUR421m and EUR300m, respectively, which represents only one third of their assets, while two of the three years of the redemption period have already expired.For the SEB ImmoInvest, which had about EUR6bn in assets, redemptions paid since the announcement of the liquidation in May 2012 have been equivalent to only 20% (EUR1.2bn).Scope reports that for several funds, the redemption quotient stands at 0 to 10%. The TMW Immobilien Weltfonds and Axa Immoselect funds, for example, have not begun to pay out their shareholders, since they need to begin by paying off lenders who provided leverage for their acquisitions. In addition, they have not sold enough properties to begin to pay back subscribers.
23/10/2012

Source accounts for 24% of ETP inflows in September

ETP provider Source has announced that it accounted for 24% of net inflows in Europe in the month of September, the highest rate among European actors in this market, according to Investment Europe.Investors allocated more than USD5bn to ETPs in September, an increase of 5% month on month.
23/10/2012

UBS: Guy Phillips moves from investment banking to WM

Guy Phillips, who had previously been head of global consumer & retail at the UBS investment bank, will now work in wealth management at the Swiss banking group. He will be responsible for the family offices team in emerging markets, Finews reports. Phillips’ former position will be taken over by Nick Hassall.
23/10/2012

Partners Group organises financing for takeover of Douglas Holding

Swiss-based Partners Group has announced that it has led a financing operation for an acquisition of the Douglas group. Partners Group acted as the mandated lead arranger for mezzanine financing for a takeover bid presented by Beauty Holding Three (a subsidiary of Advent Capital) to shareholders in Germany’s Douglas Holding, the private investment group announced on 22 October.
23/10/2012

A total of 11,002 advisers are registered with SEC

The Securities and Exchange Commission has announced that there are now 11,002 investment advisers, 37% of whom are hedge fund specialists, registered with the agency.The regulator states that 1,504 hedge fund and private fund advisers have registered since the Dodd-Frank Wall Street Reform and Consumer Protection Act came into effect, in addition to the 2,557 who were already registered, bringing the total to 4,061.Assets under management by advisers registered with the SEC have increased by USD5.7trn, or 13%, even though the number of advisers has fallen by 15%, since the Dodd-Frank law required 2,300 mid-sized advisers (who manage less than USD100m) to register with regional regulators rather than the Federal agency.
23/10/2012

Lyxor offers France and Italy govies ETFs

On the Paris platform from NYSE Euronext, Lyxor Asset Management has listed two French-registered “risk balanced” ETFs, replicating MTS indices of French and Italian sovereign debt for one to three years.The funds are the LYXOR ETF MTS 1-3Y France Government Bond C-EUR (FR0011313733) and LYXOR ETF MTS BTP 1-3y Italy Government Bond C-EUR (FR0011313741), which each charge 0.165%.
23/10/2012

Ossiam launches Ossiam ETF World Minimum Variance

As announced by Newsmanagers last week, the asset management firm Ossiam has made an addition to its smart beta product range, with the launch of a new ETF yesterday, based on a minumum variance strategy for international equities from developed markets.The ETF replicates the performance of the strategy index Ossiam World Minimum Variance Index NR (Net dividends reinvested), whose objective is to deliver the performance of a selection of the most liquid equities of the S&P Global 1200® Index NR2, weighted so as to minimise the volatility of the portfolio.The fund, Ossiam ETF World Minimum Variance NR (acronym WOMV; ISIN code LU0799656698), is listed on NYSE Euronext Paris, Borsa Italiana in Milan, and Deutsche Börse in Frankfurt, where it becomes the 1,005th fund on the XTF segment of the Xetra electronic platform. It will be listed in London on 29 October.The ETF has a TER of 0.65% per year, with total assets under management of EUR15.7m as of 18 October 2012.

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