P { margin-bottom: 0.08in; } Intech Investment Management, a subsidiary of Janus Capital, on 23 April announced launch of its suite of Emerging Markets (EM) strategies, which include Emerging Markets Managed Volatility, Emerging Markets Low Volatility and Emerging Markets Core, reflecting increased institutional investor demand for these types of products. These products are benchmarked to the MSCI Emerging Markets Index. The Managed Volatility strategy has an excess return target of 3% to 4% above the MSCI Emerging Markets Index, with a risk target of approximately 25% less than the benchmark, on average. The Low Volatility strategy seeks market-like returns with a risk target of approximately 35% less than the MSCI Emerging Markets Index, on average. Intech’s Emerging Markets Core strategy seeks an excess return of 3% to 4% above the benchmark, with 3% to 4% tracking error. Intech, founded in 1987, has approximately USD40bn in assets under management, and offers investors highly rigorous mathematical equity investment strategies, whose objective is to earn long-term returns higher than those of a target benchmark index, while reducing the risk of significant underperformance.

P { margin-bottom: 0.08in; } The La Française group is remaining faithful to its objective of becoming a European leader among multi-specialist asset management firms. «We are therefore going to continue to focus on core expertise, while developing partnerships to assist our development,” the chairman of the board at La Française, Xavier Lépine, said on 23 April at a press conference.With this in mind, the firm is in the process of setting up a planned merger between UFG Courtage and Colet Dupont Partenaires, which will become CD Partenaires, with an increase in the stake held by La Française AM to 75% of capital in the new platform.CD Partenaires will offer a global range dedicated to independent financial advisers through open architecture, “but not to everyone,” says Lépine. In other words, there will be a qualitative selection of manager partners, with a specific range of a few life insurance policies. With capitalisation of slightly over EUR2bn, CD Partnenaires, whose commercial resources are also expected to be enlarged, is already positioned as the second-largest platform on the French market.Another project planned for 2013 is a merger, recently reported by Newsanagers (16 April 2013) of New Alpha Am and NextAM, to create the European leader in asset management incubation Alongside this new unit, La Française is planning to launch a holding company separate from Next AM, which would aim to assist independent players with distribution both in France and abroad. The aim is to construct a portfolio of 4 to 7 positions, with two projects under study, one in France, and the other elsewhere.Lastly, as announced slightly under one year ago (Newsmanagers of 14 June 2012), La Française is entering a new area of business, investment solutions, with the creation of La Française Global Investment Solutions (LFGIS). This third pillar of the group, which is now operational, comes as an addition to its securities and real estate activities at La Française AM, and its incubation activities at NexT AM.La Française GIS aims to offer investors a platform which incorporates absolute return, quantitative management and credit management type alternative management techniques, as well as a platform for custom investment solutions via mandates or dedicated funds, or index-linked issues to meet liability/asset balance issues related to contractual or legal obligations.

P { margin-bottom: 0.08in; } At least ten new hedge funds are expected to be launched this year in Switzerland, the news agency Reuters reports, at a time when no new players entered the industry the previous year.The source of this boom in the sector, which has a total volume of only USD24bn, is more rigorous legislation, which integrates European changes (the AIFM directive), and which some are concerned will incite alternative management professionals to leave the Swiss financial centre.According to estimates, assets in the new hedge funds may represent a cumulative total of USD8bn. Two hedge funds are expected to be released shortly, by Argentiere Capital, the firm from ex-JP Morgan trader Deepak Gulati, and B1 Capital, the firm by the former Man Group/GLG Partners manager James Berger.Pension fund managers estimate that tougher regulations are expected to incite trustees, who are generally sceptical of unregulated vehicles, to more easily approve investments in Swiss hedge funds.“The key is not that the marginal tax rate is 40% or 50%; the key is stability and visibility. That is a considerable advantage that Switzerland can offer,” says Markus Fuchs of the Swiss Funds Association.

P { margin-bottom: 0.08in; } In January-March 2013, Janus Capital Group has earned net profits of USD28m, compared with USD3.12m in October-December, and USD22.6m in the corresponding period of 2012. As of the end of March, assets totalled USD161.8bn, compared with USD155.6bn three months previously, and USD158.9bn one year previously. Assets under management totalled an average of USD161.8bn in first quarter this year, compared with USD155.6bn in fourth quarter 2012, and USD158.9bn in the first three months of 2012.In January-March, market appreciation contributed a net USD11bn, while long-term funds saw net outflows of USD3.9bn.

P { margin-bottom: 0.08in; } With the UniEuroRenta Corporates Deutschland 2019, Union Investment (co-operative banks) on 23 April announced the launch of a Luxembourg-registered fund of primarily German corporate bonds, with a maturity date fo 15 May, 2019. The portfolio for the fund, created on 28 March, may include corporate bonds from the entire world denominated in euros or hedged “almost” totally for currency risks, as well as guaranteed bonds issued by governments for up to a maximum of 10% of the portfolio. All securities selected have a maturity shorter than that of the fund.The product is available in two share classes: A and -net- A .CharacteristicsName: UniEuroRenta Corporates Deutschland 2019 (Class A)ISIN code: LU0880274856Front-end fee: 2% (maximum 3%)Management commission: 0.9% (maximum 1.5%)Early withdrawal penalty: 1% (maximum 1.5%)Name: UniEuroRenta Corporates Deutschland 2019 (Class -net- A)ISIN code: LU0880275150Front-end fee: 0%Management commission: 1.2% (maximum 1.5%)Early withdrawal penalty: 1% (maximum 1.5%)

P { margin-bottom: 0.08in; } According to Index Universe, Van Eck has submitted a license application to the SEC to replace the benchmark indices of the Market Vectors Africa ETF (NYSE Arca ticker: AFK) and the Market Vectors Gulf States ETF (MES).The asset mangement firm would like to replace the Dow Jones Africa Titans 50 Index with the Market Vectors GDP Africa Index and the Dow Jones GCC Titans 40 Index with the Market Vectors GDP GCC Index.The new in-house indices include 106 positions, in the case of AFK, and 55 for MES, compared with 52 and 42 positions for the Dow Jones indices, respectively.

P { margin-bottom: 0.08in; } Pimco (Allianz group), seeking to replicate the success of the Total Return ETF (ticker: BOND), which replicates the Total Return Fund from Bill Gross in the form of a tracker fund, Pimco (Allianz group) has announced that it has been issued a license by the regulator to release the Pimco Diversified Income ETF (with fees of 0.85%), Pimco Real Return ETF (0.55%), and Pimco Low Duration ETF (0.55%), Index Universe reports.As of the end of March, BOND had assets of nearly EUR4.6bn, although it was launched only on 29 February, 2012.The new funds replicate, in ETF form, the mutual funds Pimco Diversified Income Fund (ticker: PDVAX), whose assets total USD7.32bn, the Pimco Real Return Fund (PRTNX, USD24.88bn) and the Pimco Low-Duration Fund (PTLAX, USD23.70bn), respectively.

P { margin-bottom: 0.08in; }Societe Generale Securities Services (SGSS) has appointed Christopher Schnabel as sales director in Germany. He reports to Jochen Meyers, managing director of sales & Relationship management for SGSS in Germany and Austria.Christopher Schnabel will be responsible for further developing SGSS’ presence and growth in Germany, focussing in particular on pension funds as well as church and non-profit organizations which require Master-KAG (Centralisation of all assets of an institutional investor into legal vehicles (Spezialfonds) administered by one German Investment Company (KAG) in order to centralise and streamline accounting, reporting and risk management) and trustee services for their investments.Christopher Schnabel began his career at Societe Generale Corporate and Investment Banking in Frankfurt in 2008, where he was a member of the Financial Institution Group covering the German and Austrian markets.

P { margin-bottom: 0.08in; } Investment Europe reports that Alex Merla, senior director at Société Générale in Milan, has been appointed as head of sales for Lyxor Asset Management funds in Northern Europe, Southern Europe and Latin America. He will report to Christophe Baurand, global head of sales & marketing, and will lead a team of five people. Vérionique Parizet will hold the same responsibilities for Central Europe.

P { margin-bottom: 0.08in; } A former executive from UBS, the credit specialist Yassir Benjellounn Touimi, will soon be launching a hedge fund with USD150m in assets, the news agency Reuters reports.The hedge fund, entitled Arcade Capital Partners, is expected to concentrate on the most liquid parts of the market, and may be launched in early July.

P { margin-bottom: 0.08in; } The UK bank HSBC on 23 April announced that it is cutting a net total of 1,149 jobs in the United Kingdom, largely in its wealth management activities serving high net worth clients.A total of 3,166 employees will be affected by restructuring, but 2,017 positions will meanwhile be created, and most of these will be offered to those employees, the firm explains.The changes reflect the changing behaviour of clients and regulations, according to HSBC. From 1 June, wealth management advisers will no longer be distinguished from advisers in the retail bank.High net worth clients of the firm will have a single interlocutor for their current accounts and wealth management.HSBC had previously laid off 2,000 in the United Kingdom last year, as part of a vast social plan worldwide to cut costs.

P { margin-bottom: 0.08in; } The UK asset management firm Ashcourt Rowan on 23 April announced that it had sold its pension fund administration business at Ashcourt Rowan Pension Trustees Limited at Robinson Gear Management Services Limited, as well as a part of Ashcourt Rowan Administration Limited, to Mattioli Woods, for a total amount that may reach GBP1.3m, according to a statement from the group.The volume of assets sold totals slightly over GBP300m.

P { margin-bottom: 0.08in; } The five-member team led by Kevin Loome, who was recruited in February from Delaware Investments, is expected to launch its first US high yield bond fund by the end of the month, Steven Thariyan, head of credit at Henderson Global Investors, has announced, Citywire reports. The team will continue to be based in Philadelphia, and will be joined by Tom Ross, who is currently based in London.

P { margin-bottom: 0.08in; } The British firm Standard Life Investments (SLI) has announced that it is adding to its multi-asset class potential with the recruitment of Jeremy Lawson for its global strategy team, as senior international economist. He had previously been director, senior US economist at BNP Paribas in New York (since 2011).Lawson will report to Andrew Milligan, head of global strategy, and will be responsible for economic forecasting and “generating ideas” for the multi-asset class unit. He will also provide detailed research to serve as a basis for the “House View” and will contribute to “Global Publications” from SLI.

P { margin-bottom: 0.08in; } Sun Life (Hong Kong) has recruited Stanley Ngan for the newly-creation position of head of asset management in its pension unit, Asian Investor reports.Ngan had previously been responsible for fund selection and analysis for the Asia-Pacific region at UBS Wealth Management. He will aim to develop the pension fund range from Sun Life, and has a mandate to recruited a professional in this area.Pension assets under management at Sun Life in the region currently total about USD2bn.

P { margin-bottom: 0.08in; } The Netherlands-based affiliate of BinckBank, Alex Vermogensbeheer, has posted net subscriptions in first quarter of USD310m. Assets have increased in three months by 35%, to EUR1.363bn as of the end of March, Fondsnieuws reports.

P { margin-bottom: 0.08in; } Funds People reports that this week, two fund management firms closed down in Spain. They are Lazard Gestión, because the private bank to which it belongs has ceased activities in Spain, and Banca Civica Gestión de Activos, which was absorbed into InverCaixa.

P { margin-bottom: 0.08in; } Le Temps reports that Russian has issued an arrest warrant for William Browder, the UK head of the financial firm Hermitage. He had employed Sergey Magnitsky, a lawyer who died under dubious circumstances in a Moscow prison in 2009.

Avec le UniEuroRenta Corporates Deutschland 2019, Union Investment (banques populaires allemandes) a annoncé le 23 avril le lancement d’un fonds luxembourgeois d’obligations d’entreprises principalement allemandes, produit dont l'échéance est fixée au 15 mai 2019. Le portefeuille de ce fonds créé le 28 mars pourra comporter des obligations d’entreprises du monde entier libellées en euros ou couvertes «presque» totalement du risque de change, ainsi que, dans une proportion maximale de 10 %, des obligations garanties ou émises par un Etat. Tous les titres sélectionnés ont une échéance antérieure à celle du fonds.Le produit est disponibles en deux classes de parts : A et -net- A.CaractéristiquesDénomination : UniEuroRenta Corporates Deutschland 2019 (Klasse A)Code Isin : LU0880274856Droit d’entrée : 2 % (maximum 3 %)Commission de gestion : 0,9 % (maximum 1,5 %)Pénalité de sortie anticipée : 1 % (maximum 1,5 %)Dénomination : UniEuroRenta Corporates Deutschland 2019 (Klasse -net- A)Code Isin : LU0880275150Droit d’entrée : 0 %Commission de gestion : 1,2 % (maximum 1,5 %)Pénalité de sortie anticipée : 1 % (maximum 1,5 %)

Société Générale Securities Services (SGSS) a annoncé le 23 avril la nomination de Christopher Schnabel comme responsable commercial en Allemagne. Il est rattaché à Jochen Meyers, responsable commercial pour l’Allemagne et l’Autriche. Christopher Schnabel sera en charge de poursuivre le développement de la présence et la croissance de SGSS en Allemagne, notamment auprès des fonds de pension et organisations à but non lucratif qui ont besoin de services Master-KAG (centralisation des actifs d’un institutionnel au sein de structures légales gérées une seule société d’investissement allemande, la KAG) et de banque dépositaire pour leurs investissements. Les clients de SGSS en Allemagne, comprenant des sociétés de gestion, des assureurs, des corporates et des investisseurs institutionnels, disposent d’une gamme complète de services titres, incluant les services de compensation, de conservation et services dépositaires, d’administration de fonds et d’asset servicing, de services de Master-KAG et de sous-traitance, de prêt emprunt de titres, de distribution de fonds et de services aux émetteurs. SGSS en Allemagne compte plus de 250 salariés situés à Munich, Francfort et Hambourg. Christopher Schnabel a démarré sa carrière en 2008 chez Société Générale Corporate & Investment Banking à Francfort, où il devient membre du Financial Institution Group pour le marché allemand et autrichien.

Investment Europe rapporte qu’Alex Merla, senior director de la Société Générale à Milan, a été nommé directeur des ventes de fonds Lyxor Asset Management pour l’Europe du Nord, l’Europe du Sud et l’Amérique Latine. Il sera subordonné à Christophe Baurand, global head of sales & marketing et dirigera une équipe de cinq personnes. Véronique Parizet aura les mêmes fonctions pour l’Europe centrale.

D’après Citywire, Morgan Stanley aurait liquidé un fonds luxembourgeois de performance absolue géré de News York par Sophia Drossos qui avait été lancé en février 2007 et dont l’encours serait tombé à 3,1 millions d’euros fin mars, contre 17,4 millions fin janvierCe fonds aurait affiché une perte de 13,69 % sur les trois ans au 31 mars, contre 0,95 % pour l’indice Citywire de hedge funds alternatifs.

BlackRock renonce à son projet de créer sa propre plateforme permettant à ses clients de réaliser des transactions directes sur le marché obligataire, selon le Wall Street Journal. A la place, BlackRock prévoit d’annoncer dès mardi un partenariat qui lui permettra de proposer ces services à 60 de ses clients par l’intermédiaire de MarketAxess Holdings, indiquent des personnes proches du dossier.

Les indices PMI pour avril en zone euro montrent que la crise se propage à l’Allemagne. La perspective d’une baisse du refi le 2 mai s’accroît.

Les indices PMI montrent que la crise rattrape le secteur privé en Allemagne. Les marchés tablent sur une baisse des taux de la BCE dès mai

Le montant des CLO émis depuis le début de l'année avoisine le milliard d'euros. D'autres opérations sont déjà annoncées

Le gérant multiplie les partenariats et a confirmé la création de La Française Global Investment Solution, une filiale spécialisée dans les produits structurés et utilisant des techniques de gestion alternative. Il compte atteindre au total 50 milliards d’euros sous gestion en 2015.

Le gérant multiplie la création de plates-formes et renforce ses partenariats. Il compte atteindre 50 milliards d'euros sous gestion en 2015

Si elle est favorable aux pays émergents, la régionalisation des échanges accentue l’impact global des chocs économiques, selon Euler Hermes

Il devrait progresser de 3% en valeur absolue, sous le coup d'une nouvelle comptabilisation des dépenses de recherche et développement