Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
02/07/2010

New Star European Growth fund made part of Henderson Horizon and changes names

Henderson Plc on Thursday, 1 July announced that it the Irish-registered OEIC fund New Star European Growth has been integrated into the Luxembourg Sicav Henderson Horizon, as of 18 June. The fund will now be known as the Henderson Horizon European Growth Fund. The mutual fund, managed by Richard Pease and Simon Rowe, has assets of EUR84.2m. The operation follows the acquisition of New Star Asset Management by the Henderson Plc group in 2009. Characteristics Name: Henderson Horizon European Growth Fund Structure of the fund: Complex UCITS III SICAV Currency of the fund: EUR Minimal subscription: EUR2,500 or USD2,500 for retail share class Front-end fee: Maximum 5% Management commission: 1.75%
02/07/2010

BBVA Patrimonios launches a second SIL

Diversity Inversiones (ES0126908039) is a “free investment company,” or SIL, and is the second hedge fund aimed at high net worth private clients from BBVA Patrimonios. The product will be managed by the alternative management affiliate Omega Gestión. The objective is to generate annual performance of 9-12%, with ex ante volatility of 10%, through investments of at least 35% of assets in 8 to 20 Spanish-registered hedge funds (FIL), funds of FIL funds, feeder funds, or commodities ETFs. The product, which offers monthly liquidity, requires a minimal initial subscription, as required by law, of EUR50,000. BBVA Patrimonios charges fees of EUR7,512 per year, plus a commission of 0.3% on assets.
02/07/2010

Assets in Spanish funds still falling

The decline in assets in Spanish securities funds in June slowed to about EUR0.4bn (to a total of EUR152.7bn), from EUR5.2bn in May (see Newsmanagers of 2 June), but net redemptions increased to EUR3.33bn, from EUR3.16bn. According to the Inverco association of management firms, these are the worst results since November 2008. And in first quarter, net outflows totalled EUR11.3bn. According to statistics from Ahorro Corporación, net redemptions totalled as much as EUR4.5bn, the highest since October 2008.
02/07/2010

US firm Gramercy recruits two former JP Morgan managers

The US management boutique Gramercy, a specialist in emerging markets, has announced the recruitment of Jeffrey Grills and Gunter Heiland, both formerly of JP Morgan AM, to launch new strategies focused on emerging market debt. The two new recruits, who previously were co-heads of the emerging markets team at JP Morgan AM, and who managed as much as USD12bn, yesterday launched three funds focused on emerging markets. The first of these is focused on US dollar government debts in emerging markets; the second, on emerging market debt in local currencies; and the third on corporate debt from the same markets. Assets under management at Gramercy total USD2.6bn.
02/07/2010

Morningstar France finalises acquisition of Seeds Group

Morningstar France Holding on 1 July announced that it has finalised its previously announced acquisition of Seeds group, a financial investment advising and research firm specialised in French OPCVM funds. The acquisition price has not been disclosed. Seeds Finance, an affiliate of Seeds Group, provides investment advising to institutional investors, management firms, and banks. In addition to investment advising, Seeds Group also operates Multiratings.com, a website providing analysis of mutual funds and financial training to independent financial advisers and institutional investors.
02/07/2010

Spanish government hopes to convince Pimco to invest in its bonds

José Manuel Campa, Spanish secretary of state for the economy, on Monday held a meeting with “some of the main investors” in his government (banks, fund managers, and hedge funds) to explain to them “the reality of the Spanish economic situation, and to attempt to dispel the unfounded negative sentiment which is currently prevailing,” Expansión reports. On Thursday, the day after meeting the New York Times, Bloomberg, and the Financial Times in New York, he was to meet heads at Pimco, including Bill Gross, who manages the largest bond fund in the world, with USD464bn in assets. Gross has been one of the charpest critics of Spain in recent months.
02/07/2010

Allianz creates AGI Capital

The three asset management firms NFJ Investment Group, Nicholas-Applegate Capital Management and Oppenheimer Capital have now been merged into a single entity, which will be known as Allianz Global Investors Capital, with “unified” assets of USD48bn. Pimco will, however, retain its identity. The strategies pursued by Nicholas-Applegate and Oppenheimer will be “rebranded” as AGI Capital, while the new merged entity will retain the NFJ brand for value equities managed in Dallas, Texas. Marna Whittington and Horatio Valerias will serve as CEO and CIO of AGI Capital, respectively. The board also includes Barbara Claussen, Ben Fischer and Geoff Mullen.
02/07/2010

PGGM seeking a manager for responsible equities portfolio

The Dutch pension fund PGGM, which manages about EUR80bn in assets, is seeking a senior manager or director of investments for its portfolio of responsible equities, Responsible Investor reports. The team which manages the fund already has nine members. PGGM, which dedicated EUR1bn to this strategy in 2008, would like to increase assets in the fund to EUR2.2bn during 2010. PGGM has also announced that it has decided to exclude the Indian mining firm Vedanta Resources from its investment portfolio.
02/07/2010

SGCIB extends range of ETF services for institutionals

Société Générale Corporate & Investment Banking announced on Thursday that it has added to its range of ETF services for European institutional investors, extending its ETF lending and borrowing service, and acting as market maker for five new series of options based on French-registered ETF funds from the Société Générale affiliate Lyxor Asset Management. The funds concerned are Lyxor ETF DJ Stoxx 600 Banks, Lyxor ETF DJ Stoxx 600 Oil & Gas, Lyxor ETF DJ Stoxx 600 Basic Resources, Lyxor ETF DJ Stoxx 600 Telecommunications and Lyxor ETF China Enterprise.
02/07/2010

Neuberger Berman launches a global equities fund

Fund Strategy reports that Neuberger Berman has launched a global equities fund with no constraints, entitled Global Thematic Opportunities, which replicated the strategy of the Global Opportunities fund. The new UCITS III-compliant fund is domiciled in Dublin, and will be managed by MLG Group (which is owned by Neuberger Berman). Minimal initial investment has been set at USD10,000. Management fees are 2% per year for retail investors. The fund will initially be available in US dollars and Euros.
02/07/2010

Traditional managers look to hedge fund managers

Benjamin Phillips a partner at the New York firm Casey & Quirk & Associates, says traditional asset managers are looking for simple ways to bank profits, independently of the prevailing trends on equities and bond markets, Handelsblatt reports. Kevin Packenham, CEO of Jefferies in London, says that more than half of the 41 mergers and acquisitions this year (January-May) involved alternative managers. Jamie Broderick, CEO of JPMorgan AM for Europe, also in attendance at the Monaco Fund Forum, predicts that the number of transactions will increase, as banks and insurers are seeking to unload their asset management affiliates, and may now be able to do so at a more attractive price than last year. Kevin Pakenham estimates that the number of deals in 2010 will not rival the 140 deals signed last year, but Martin Gilbert, head of Aberdeen, thinks this number will be exceeded.
02/07/2010

Fitch confirms Asset Manager rating of M1 for Alcentra

The Fitch Ratings agency on 1 July announced that it is confirming its Asset Manager rating of M1 for the management firm Alcentra (Bank of New York Mellon) for its European management activities. The decision reflects the stable track record of activities at Alcentra (CLO), and efforts at diversification which have been embarked on, into areas including special situations and structured funds.
02/07/2010

Credit Suisse adds to ETF team

The head of institutional distribution at ComStage ETF (Commerzbank), Levente Kulcsar, on 1 July became director and head of ETF activities for Germany and Austria at Credit Suisse. Meanwhile, Annabelle Wegner is leaving RBS/ABN Amro, where she worked in the structured products team, to join the ETF division of Credit Suisse. ETF assets at Credit Suisse represent CHF12bn, or EUR8.4bn. The ETF product range from Credit Suisse currently includes 31 funds with a sales license in Germany.
02/07/2010

DJE Kapital enlarges board

Six months after the appointment to the managing board of Jan Ehrhardt, head of research and portoflio design activities, and son of founder Jens Ehrhardt, DJE Kapital on Thursday announced that Ulrich Kaffarnik and Peter Schmitz have been promoted to become members of the board. Kaffarnik will be head of investment funds, institutional and retail clients, while retaining his position as head of the Luxembourg affiliate DJE Investment. Schmitz, an economist, will become head of finance, administration, and service center. With Eberhard Winberger, the board includes five members.
02/07/2010

JPMAM focuses on insurers

Dirk Popielas, co-head of the pensions & insurance advisory group at the JP Morgan investment bank, has been appointed as head of insurance solutions for the Europe, Middle East and Africa (EMEA) region at JPMorgan Asset Management. Popielas will be based in Frankfurt, and will report directly to Jamie Broderick, CEO of JPMAM for Europe, who is based in London.
02/07/2010

LaSalle IM recruits a manager from ING REIM

Kai Brunko has left ING Real Estate Investment Management Germany, to take on the newly-created position of asset manager for the retail sector at LaSalle Investment Management in Munich, from 1 July.
02/07/2010

Barclays reimburses a client

Fund Strategy reports that the British financial mediation service has asked Barclays to reimburse GBP17,192 to a prudent client who was led to invest in a high-risk fund. The bank has also apologised to the client for the delay in addressing her claim. The client, Sue Murton, initally invested GBP52,000 in April 2007, in a fund (Aviva Global Balanced Income) which then changed formats and moved into the high-risk category; but the client was never informed. In response to an initial claim, Barclays offered compensation of GBP8,374, though in March 2009, the value of the client’s investment had fallen by GBP21,000.
02/07/2010

Commerzbank sells two affiliates to RHJ

On Thursday evening, Commerzbank announced that it has sold its Kleinwort Benson activities to the private equity investor RHJ International. These include the wealth and fiduciary management firms Channel Islands Holdings Limited and Kleinwort Benson Private Bank Limited. Their assets in wealth management as of the end of 2009 totalled GBP5.6bn (EUR6.3bn); the firms have about 600 employees.
02/07/2010

Head of marketing appointed at Gartmore

Gartmore on 30 June announced the appointment of Charolotte Gibson as head of marketing. Gibson, previously of JP Morgan AM, will join Gartmore in mid-July. She will report to Richard Pursglove, head of UK retail. Gibson will lead a team of 12 people in charge of advertising, client relationships, and other elements of the distribution chain.
02/07/2010

Omam fires head of UK retail sales

Fund Strategy reports that Old Mutual Asset Managers (Omam) has dismissed Mark Allpress, head of UK retail sales, in a reorganisation of the firm. As of 30 April this year, assets under management at Omam totalled GBP4.4bn.
02/07/2010

Threadneedle fills vacancies left by departures to RWC

Threadneedle has appointed Quentin Fitzsimmons as lead manager for two bond funds, the Threadneedle Absolute Return Bond and Target Return funds, previously managed by Peter Annwright and Stuart Frost, who have recently left the firm to join RWC. Fitzsimmons, who has been head of government bonds since 2003, made significant contributions to the growth of absolute return strategies, and it would be an exaggeration to attribute the success of these strategies solely to the two managers who have moved to RWC, Threadneedle says in a statement. Assets in the two funds concerned totalled over EUR2.3bn as of the end of March, within fixed income (EUR22bn in assets under management in total). Threadneedle has also recruited Vladimir Gerasimia, who will join the team specialised in emerging market debts, a,dn who previously worked at Fortis Investments. Another new arrival, Richard Stevens, previously of Old Mutual Asset Managers, joins the government bond team.
02/07/2010

Spanish tax amnesty offer is a total washout

The Spanish finance ministry has suffered a setback. The Spanish tax authorities had offered to regularise the situation of Spanish holders of 3,000 offshore accounts in Switzerland, which would have represented the largest tax amnesty in Spain since the restoration of democracy. However, according to sources familiar with the matter, Expansión reports, not a single one of the individuals concerned took the Spanish authorities up on the offer before the deadline passed on 30 June, though they had all been directly contacted by the tax authority.
02/07/2010
Fonds

Premiers investissements pour Mandarine Capital Solidaire

Deux mois après son lancement, le FCPR Mandarine Capital Solidaire dont le portefeuille est composé d’au moins 40% de titres non cotés émis par des organismes solidaires, a annoncé ses deux premiers investissements dans des organismes solidaires : Autonomie et Solidarité et Habitats Solidaires.Autonomie et Solidarité est une société anonyme coopérative à capital variable spécialisée dans les placements solidaires qui finance les entreprises en création, reprise ou développement d’activité.Habitats Solidaires est une société anonyme coopérative d’intérêt collectif à capital variable qui a pour objet l’amélioration des conditions d’insertion par l’habitat depersonnes et familles exclues de l’accès au logement pour des raisons économiques et sociales en région Ile-de-France.
Fonds
02/07/2010

L’AFG rappelle les règles définissant ses différentes catégories de membres

Suite à un article publié par le Financial Times du lundi 28 juin «ayant pu entraîner une certaine confusion», l’AFG, a tenu hier à rappeler dans un communiqué que son organisation reposait sur deux cercles d’adhérents. Le premier cercle, les membres, réunit toutes les entreprises françaises agréées pour exercer la gestion de portefeuille pour compte de tiers. Le second cercle mis en place dans la perspective de UCITS IV réunit depuis deux ans l’ensemble des professions qui participent à l’écosystème de la gestion : les cabinets de conseil et d’audit, les cabinets d’avocats, les SSII spécialisées dans la gestion financière et, depuis le début de l’année, les entités implantées en France (succursales, bureaux de représentation …) et dépendant de sociétés de gestion étrangères. Ce sont les membres correspondants. Conformément aux statuts de l’AFG, les membres correspondants de l’AFG ne bénéficient pas des mêmes droits que les sociétés de gestion adhérentes : ils ne participent pas aux instances de gouvernance de l’association (ils ne peuvent pas, par exemple, être membres du conseil d’administration et n’ont pas le droit de vote à l’assemblée générale) et en règle générale, ils ne font pas partie des commissions permanentes de l’AFG. En revanche, comme tous les membres de l’AFG, les membres correspondants ont accès au site adhérents de l’AFG et sont amenés à participer aux groupes de travail mis en place par l’association. Une charte des membres correspondants précise le cadre dans lequel cette collaboration entre l’AFG et son écosystème a vocation à se développer.
02/07/2010

Morningstar France finalise l'acquisition de Seeds Group

Morningstar France Holding a annoncé le 1er juillet la finalisation de l’acquisition précédemment annoncée de Seeds Group, société de conseil en investissements financiers et de recherche sur les OPCVM en France. Les détails de la transaction n’ont pas été divulgués.La filiale de Seeds Group, Seeds Finance, fournit des conseils en investissements financiers aux investisseurs institutionnels, aux sociétés de gestion et aux banques. En plus du conseil en investissements, Seeds Group exploite également Multiratings.com, un site internet d’analyses sur les OPCVM et de formation financière à destination des conseillers en gestion de patrimoine et des investisseurs institutionnels.
02/07/2010
Fonds

OFI AM harmonise ses gammes

OFI Asset Management a indiqué le 1er juillet le changement de nom des cinq derniers OPCVM utilisant la dénomination ADI. Ces fonds sont désormais désignés sous les noms suivants : Adi risk Arbitrages devient Ofi Risk Arbitrages, Adi Risk Arb Absolu devient Ofi Risk Arb Absolu, Adi Situations spéciales devient Ofi Situation Spéciales, Adi Spread Opportunites devient Ofi Spread Opportunites et Adi Index Arbitrages devient Ofi Index Arbitrages.Ces changements sont effectifs depuis le lundi 28 juin 2010, précise OFI dans un communiqué.
Fonds
02/07/2010

Fitch confirme la note Asset Manager "M1" de Alcentra

L’agence de notation Fitch Ratings a annoncé le 1er juillet qu’elle confirmait la note Asset Manager «M1» de la société Alcentra (groupe The Bank of New York Mellon) pour ses activités de gestion européennes.Cette décision reflète la stabilité des activités historiques d’Alcentra (CLO) ainsi que les efforts de diversification mis en œuvre, y compris les situations spéciales et les fonds structurés.
02/07/2010
Fonds

La collecte du private equity est tombée à l'étiage au deuxième trimestre

Avec 41,3 milliards de dollars levés grâce au bouclage définitif de 82 fonds, le secteur mondial du private equity a enregistré au deuxième trimestre 2010 sa collecte la plus faible depuis 2003, selon Preqin. Le sondage de juin montre que 76 % des investisseurs ont simplement l’intention de maintenir leur allocation du private equity pour les douze prochains mois.
Fonds

Sujets d'actualité

Tous les sujets