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20/02/2014

Départ d’un gérant monétaire de BlackRock

Stuart Niman, managing director chez BlackRock, quitte la société et abandonne la gestion du BlackRock Cash fund de 586 millions de livres, rapporte FundWeb. Il gérait aussi le fonds BGF Euro Reserve. Les deux produits seront repris par Bea Rodriguez.
20/02/2014
Fonds

Les fonds de taille moyenne performent mieux que les gros

Les investisseurs auraient mieux fait d’acheter un fonds de taille moyenne plutôt qu’un gros fonds sur les cinq dernières années dans la catégorie actions income, montre une étude de FE Trustnet citée par le Financial Times fund management. Un portefeuille équipondéré des principaux fonds UK Equity Income a dégagé 88 % depuis janvier 2009, tandis que le fonds moyen a produit 104 %.
Fonds
20/02/2014

Trois gérants quittent RLAM

Trois gérants de Co-operative ont quitté Royal London Asset Management suite à l’intégration des deux sociétés, rapporte Investment Week. Il s’agit de Linda Desforges, Neal Foundly et Daniel Fox.
20/02/2014

Neuberger Berman a remonté la pente

Ancien pôle de gestion d’actifs de Lehman Brothers, Neuberger Berman se porte plutôt bien aujourd’hui. « Nous avons des performances solides, des clients heureux et de bons flux », se félicite George Walker, directeur général, dans un entretien au Financial Times fund management. L’une des clés de son succès est la structure de la société, détenue par 400 employés. « Les recrutements sont infiniment plus faciles, notamment pour les gérants de portefeuille. Cela donne aux gens énormément confiance dans le fait qu’ils vont pouvoir se concentrer sur la gestion », explique George Walker. L’an passé, la société a recruté des professionnels chez ING Investment Management et JPMorgan. Elle est désormais en train de bâtir une équipe dette haut rendement. L’article indique aussi que les encours sous gestion en Europe de Neuberger Berman ont quadruplé en cinq ans, tandis que les actifs gérés dans les fonds Ucits européens sont passés d’un peu moins d’un milliard de dollars à 16 milliards de dollars.
20/02/2014
Fonds

Zone euro : progression de 214 milliards sur trois mois de l'encours des OPCVM non monétaires

L’encours de titres émis par les OPCVM non monétaires de la zone euro est ressorti en hausse à 7256 milliards d’euros en décembre 2013, contre 7042 milliards en septembre 2013, selon des statistiques communiquées par la Banque centrale européenne. Cette évolution résulte à parts presque égales de la hausse de la valeur des titres et de celle des émissions nettes. Sur la même période, l’encours des titres émis par les OPCVM monétaires de la zone euro a diminué, revenant de 844 milliards d’euros à 818 milliards. Les souscriptions nettes de titres d’OPCVM non monétaires de la zone euro se sont inscrites à 107 milliards d’euros au quatrième trimestre2013, tandis que les rachats de titres d’OPCVM monétaires sont ressortis à 23 milliards. En ce qui concerne la ventilation par stratégies de placement, le rythme de progression annuel des titres émis par les fonds «obligations» est ressorti à 5,1% en décembre 2013 et les souscriptions nettes se sont élevées à 15 milliards d’euros au quatrième trimestre 2013. Dans le cas des fonds «actions», ce taux s’est inscrit à 7% et les souscriptions nettes sont ressorties à 42 milliards d’euros sur la même période. Pour les fonds «mixtes», le taux de croissance s’est établi à 9,2% et les souscriptions nettes à 30 milliards d’euros.
Fonds
20/02/2014

Man Group accélère sa recherche d’acquisition

Man Group accélère sa recherche d’une acquisition, rapporte le Financial Times. L’objectif est de diversifier ses revenus et de ne plus trop dépendre de son fonds vedette AHL (12,5 milliards de dollars).La société de gestion alternative possède 550 millions de dollars de surplus de capitaux et, selon des personnes proches du dossier, distribuera l’argent aux actionnaires si elle ne trouve pas de cible.Man Group aimerait plutôt acquérir une société de gestion traditionnelle plutôt qu’une autre société de hedge funds, et s’intéresse particulièrement au marché des Etats-Unis.
20/02/2014

State Street nomme un directeur des relations avec les hedge funds

Jamie Gleeson a rejoint State Street en février en tant que managing director et responsable des relations avec les hedge funds pour l’Europe, le Moyen Orient et l’Afrique, selon eFinancial News.D’après son profil LinkedIn, Jamie Gleeson a travaillé de 2007 à 2013 chez Bank of America en Asie Pacifique en tant que responsable des hedge funds auprès des consultants. Auparavant, il est passé chez Morgan Stanley, Goldman Sachs et Lehman Brothers.
20/02/2014

Mercer recrute un responsable des investissements au Moyen-Orient

A la suite du départ de Mailesh Shah, présent chez Mercer depuis 25 ans, le cabinet de conseil a nommé Ben Gunnee en tant que nouveau responsable du conseil en investissement pour le Moyen-Orient et l’Afrique, révèle Asian Investor.Ben Gunnee prend un rôle élargi par rapport à Mailesh Shah, devenant responsable de l’activité «investissement» pour l’Inde, le Moyen-Orient, la Turquie et l’Afrique. Il aura pour mission de distribuer et promouvoir les solutions d’investissement de Mercer dans ces marchés, partageant son temps entre Dubaï et Londres. Précédemment, Ben Gunnee était directeur Europe de Mercer Sentinel, entité qui conseille les clients sur les opérations d’investissement et l’exécution.
20/02/2014
Fonds

MainFirst lance un fonds Ucits ciblant les CLO

MainFirst, le gestionnaire d’actifs basé à Francfort, vient de lancer ce qu’il qualifie de premier funds Ucits investissant dans les CLO (collateralized loan obligations), dévoile Citywire global. Baptisé MainFirst CLO Investment Grade Fund, ce véhicule domicilié au Luxembourg va se concentrer en priorité sur la partie «investment grade» du marché CLO, les prêts seniors garantis (senior secured loans) représentant 90 % à 95 % de l’exposition du portefeuille. Ce fonds sera géré par le responsable du crédit corporate, Norbert Adam, aux côtés des gérants de fonds Klaus Ripper, Michael Hombach et Stamatia Hagenstein.
Fonds
20/02/2014
Fonds

141 fonds ont été domiciliés en Italie en 2013

En 2013, 141 nouveaux fonds ont été domiciliés en Italie, contre 77 l’année précédente, selon les données de Morningstar fournis à Funds People Italia. Avec 39 nouveaux produits, Anima a été la société de gestion qui a lancé le plus de fonds dans le courant de l’année dernière, notamment dans la catégorie obligataire. Arrivent ensuite Eurizon Capital, avec 31 fonds, et Amundi, avec 23 fonds.
Fonds
20/02/2014

Boston Partners launches a new long/short fund

Boston Partner, the value approach specialist of the Robeco group, is launching a new long/short fund, entitled Robeco Boston Partners Global Long/Short Fund, Hedgeweek reports. The vehicle followed the same investment process as the Robeco Boston Partners Long/Short Research Fund, but with a wider range of global investment opportunities. The new fund, managed by Jay Feeney and Christopher Hart, already responsible for the Boston Partners Global and International Equity fund, will invest at least 40% in undervalued international equities. The Robeco Boston Partners Long/Short Reearch fund, concentrated on US equities, has increased its assets under management to over USD3bn since its launch in 2010.
20/02/2014

Scottish government authorised to issue its own bonds

In the midst of a debate about the independence of the country, the British government has authorised its Scottish counterpart the right to issue its own bonds from 2015, according to reports on the BBC, Money Marketing reports. The Scottish government may issue up to GBP2.2bn of its own bonds. This possibility is related to the increased borrowing capacity of Scotland, which will be effective next year as part of the Scotland Act.
20/02/2014

Nomura AM recruits an emerging market manager

Nomura Asset Management U.K. Ltd. (NAM UK) has hired Nick Payne as a Latin American portfolio manager to bolster its coverage across the region.He joins from Rexiter Capital Management where he was head of Latin American equities as well as managing emerging markets equity portfolios. Nick Payne ‘s appointment bolsters Nomura’s dedicated emerging markets team in London, which has gathered momentum since the appointment of Jonathan Bell (formerly of Pictet) as its head in May
20/02/2014

Departure of a money market manager from BlackRock

Stuart Niman, managing director of BlackRock, is leaving the firm and abandoning the management of the BlackRock Cash Fund, with GBP586m, FundWeb reports. He was also manager of the BGF Euro Reserve fund. The two products will be taken over by Bea Rodriguez.
20/02/2014

Three managers leave RLAM

Three managers from Co-operative have left Royal London Asset Management following the integration of the two firms, Investment Week reports. They are Linda Disforges, Neal Foundly and Daniel Fox.
20/02/2014

PowerShares launches an ETF dedicated to buybacks

The ETF provider Invesco PowerShares Capital Management on 27 February announced the listing of the PowerShares BuyBack Achievers TM Portfolio (IPKW) on the Nasdaq. The vehicle will provide investors with privileged access to an international portfolio of companies classified as “International BuyBack Achievers TM,” meaning companies which have performed a net reduction of 5% or more to their equities in circulation in the past 12 months. The ETF charges fees of 0.55%.
20/02/2014

Asset management at Natixis posts EUR13bn in inflows in 2013

In 2013, the asset management business line at Natixis posted net inflows of EUR13.4bn. Excluding money market funds, net inflows total EUR20bn, the bank says, suggesting that money market funds have seen outflows of EUR6.6bn. The level of net inflow was very high in the United States, Natixis is pleased to announce: USD18bn for the Equity Value expertise at Harris Associates. The “non-traditional” expertise at Loomis, Sayles & Co has permitted inflows of USD10bn to fixed income. In Europe and the United States, “alternative” expertise (Alpha Simplex, Gateway, H2O, OSSIAM, etc.) developed more recently, generated EUR3.4bn in inflows in 2013, the bank continues. In total, as of the end of 2013, assets under management totalled EUR629bn vs EUR591bn as of 31 December 2012. The net banking proceeds from asset management, for its part, is up 10% in 2013 compared with 2012, to EUR1.832bn.
20/02/2014

Blackstone buys a stake in a hedge fund

The US Blackstone group, which would like to play the first roles in the hedge fund sector, has bought a minority stake in the alternative asset management firm Senator Investment Group, whose assets under management total about USD6.7bn, the news agency Bloomberg reports.
20/02/2014

Simon Mendelson joins DeAWM to head up development in North America

Deutsche Asset & Wealth Management (DeAWM) has appointed Simon Menselson as managing director and head of development and product management for the Americas region. Mendelson previously worked at BlackRock as global head of product development. In his newly-created role, Mendelson will be head of development, implementation and positioning of solutions and investment products available in the Americas region. The appointment of Mendelson follows the recruitment in North America of more than 12 wealth management executives.
20/02/2014

AllianceBernstein recruits a director for defined contribution activities

According to eFinancial News, AllianceBernstein has recruited Michelle Inskip as its new director of client relationships for its defined contributions activities. The US firm states that Inskip will work with Tim Banks, head of the customer relationships strategy within the retirement activity. Inskip previously worked at Schroders in the United Kingdom and Ireland on the team dedicated to relationships with consultants. She previously served for 7 years at Insight Investment as director of management of consultant relationships.
20/02/2014

Mid-sized funds perform better than large ones

Investors would have done better to buy a mid-sized fund rather than a large fund in the past five years in the income equity category, a study by FE Trustnet cited by Financial Times fund management finds. An equally weighted portfolio of the main UK Equity Income fund has earned 88% since January 2009, while the average fund earned 104%.
20/02/2014

François Mouté quits as manager of two funds

François Mouté has abandoned the management of two equity funds from Neuflize OBC as part of strategic changes at the firm, Citywire Global can reveal. The US equity manager no longer manages either the Neuflize Usa Opoortunities fund, nor the Neuflize Ambition long/short fund. He has been replaced on the former fund by Eric Lafrenière, while the second fund has been taken over by David Zonena. Mouté will continue to manage the Neuflize Global fund, mandated funds, the Columbia Securities NV and the PARVEST Opportunities USA funds.
20/02/2014

Turkey, new area for growth for wealth managers

Large Turkish entrepreneurial families are increasingly interested in planning their wealth management strategies for their descendants, according to a study carried out by Campden Wealth in partnership with UBS. The study finds that wealth management remains by far a family matter in Turkish businesses. Half of the sample surveyed (30 high net worth families in summer and autumn 2013) say they have more than 75% of their wealth invested in their activity, while the remainder is invested in real estate and investment grade bond management. The entrepreneurs who invested more than 25% of their wealth outside their activities have engaged as a priority in real estate and private equity. The younger generations seem much more interested in a more sophisticated wealth management approach, with the largest selection criteria for a wealth manager being trust and track record, the study finds.
20/02/2014

Mercer recruits an investment head for the Middle East

Following the departure of Mailesh Shah, Mercer’s investment consulting leader for Middle East who worked at Mercer for 25 years, the consultancy firm has appointed Ben Gunnee as its new head of investment consulting for the Middle East and Africa, Asian Investor reports. Gunnee is taking an enlarged role compared with Shah, who becomes head of “investment” activities for India, the Middle East, Turkey and Africa. He will aim to distribute and promote investment solutions from Mercer in these markets, dividing his time between Dubai and London. Gunnee had previously been director for Europe at Mercer Sentinel, an entity which advises clients on investment and execution operations.
20/02/2014

Very large increase in assets under management in Swiss investment funds in January

The total volume in invesment funds in Switzerland in January rose 0.2% compared with the previous month, to CHF754.5bn, the Swiss Funds & Asset Management Association (SFAMA) announced on 19 February. Net inflows in the month under review totalled CHF1.4bn. Equity funds posted inflows of CHF976.7bn, bond funds CHF1.15bn, and money market funds have seen net outflows of CHF1.21bn. Hedge funds, for their part, have attracted nearly CHF350m.
20/02/2014

Regulations increase pressure for outsourcing

Regulation is pushing more groups to outsource key functions, but the direction is not all one way. Some asset management houses are outsourcing to fund managers too. Discretionary portfolio managers will benefit as commission-based models crumble, according to the latest edition of The Cerulli Edge-Europe Edition."What is remarkable about our regulation survey findings is the consistency of what is being outsourced most for different bits of legislation,» commented Angelos Gousios, a Cerulli senior analyst. «The AIFMD is very different to EMIR, FATCA (not even a European set of rules), or MiFID II, but updating technology and document production (those key information documents) are the functions most likely to be outsourced"Outsourced fund selection is also growing. This is particularly true in the United Kingdom following implementation of the Retail Distribution Review (RDR)."Even if MiFID II does not result in a commission ban, if the French get their way, other countries may still follow the United Kingdom with their own domestic rules,» said Barbara Wall, Europe research director at Cerulli. «If so, asset managers spy a pan-European opportunity. Advisors will not want to select funds for clients, so they will outsource.»
20/02/2014

141 funds were domiciled in Italy in 2013

In 2013, 141 new funds were domiciled in Italy, compared with 77 the previous year, according to data from Morningstar supplied to Funds People Italia. With 39 new products, Anima was the asset management firm which launched the most funds last year, particularly in the bond category. It is followed by Eurizon Capital, with 31 funds, and Amundi, with 23 funds.
20/02/2014

Tendercapital lists its funds on Online Sim

The asset management firm Tendercapital has listed its fund on the Italian platform Online Sim, Bluerating reports. With this new product range, the range on offer from Online Sim tops 3,500 funds from 130 asset management firms.
20/02/2014

Man Group steps up its search for an acquisition

Man Group is accelerating its search for an acquisition, the Financial Times reports. The aim is to diversify revenues away from the flagship fund AHL (USD12.5bn). The alternative asset management firm has USD550m in surplus capital, and according to sources familiar with the matter, will distribute money to shareholders if it does not find a target. Man Group would like to acquire a traditional asset management firm rather than another hedge fund firm, and is particuarly interested in the market in the United States.

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