Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
16/04/2012

M&G closes down Prudential funds

The British firm M&G has announced that it would like to close four unit trusts from the range on offer from Prudential as part of a rationalisation of its product range, FundWeb reports. The closures proposed will affect the Prudential European Tracker trust, the Prudential Ethical trust, the Prudential (Invesco Perpetual) Managed trust and the Prudential Managed Funds Tracker trust. The planned closures will be put into effect form 8 June. Clients will be allowed to transfer their investments to equivalent vehicles from M&G.
16/04/2012

“We are very satisfied with our partnership with Alfi Partners”

The head of the independent asset management firm Jupiter Asset Management, Edward Bonham-Carter, discusses its strategy and development plans with Newsmanagers. With about GBP23bn in assets under management, Jupiter is looking to continue its development, but at its own pace. In addition to the British market, where the firm is hoping to attract investments from more high-end clients, the two major areas of growth for Jupiter are continental Europe and, more recently, Asia.
16/04/2012

Increase in assets at Ashmore in third quarter

The British asset management firm Ashmore, a specialist in emerging markets, has seen a 9.1% increase in its assets in the third quarter of its fiscal year, to USD65.9bn. The firm has posted subscriptions in overlay, external debt, local currencies, corporate debt and multi-strategy themes, and redemptions from equities and multi-debt themes.
16/04/2012

23 layoffs at SWIP

The British asset management firm Scottish Widows Investment Partnership will be laying off 23 staff from its team dedicated to equities, as part of a reorganisation of the GBP54bn activity.The equities unit will now be refocused on active and quantitative management, and some strategies will become passive. “In the asset management sector, we are seeing a widening gap between equity investors seeking high alpha solutions, and those who prefer a lower-risk strategy using a quantitative approach,” a statement explains.Andrew November, director of equities at SWIP, has appointed the team which will be in charge of this new equities strategy. Will Low will continue to serve as head of global equities, which now includes British small caps, publicly-traded real estate and absolute returns. Tony Whalley will continue to direct the equities dealing team, and Anne Fraser will be head of governance.Sean Phayre will remain as director of the quantitative equities team, which is part of the Investment Solutions unit.SWIP states that it has initiated the transition of some funds to the new equity strategy. This process will take a few months, and will result in the closure of some small regional equity funds and funds whose small size renders them economically unviable.
16/04/2012

Switzerland plans to toughen regulations for hedge funds

Switzerland is preparing to impose tougher regulations on its hedge fund sector, and may become one of the strictest countries in this area, the Financial Times reports. The rules would affect Swiss investors, who are major clients of the global hedge fund industry. Foreign asset management firms who do not comply with the new requirements could be required to refund billions of Swiss francs. The rules, which have been proposed by the Federal Council and must now be debated by the Swiss parliament, aim to bring Switzerland into compliance with European hedge fund regulations, and to go beyond those regulations in some areas.
16/04/2012

Assets with limited liquidity in Spanish funds reduced

According to the quarterly newsletter from the CNMV, the total volume of illiquid assets in Spanish funds as of the end of 2011 was EUR7.5bn, which represents 5.6% of total assets, whereas that percentage was 7.4% as of the end of 2010. Funds People states that the amount has been reduced by EUR3bn in absolute terms. Compared with 2009, when the total was EUR14.9bn, the volume of illiquid assets has been halved.
16/04/2012

Italy reforms supervisory authorities

The Italian insurance regulator (ISVAP) and the pension fund surveillance authority (COVIP) may disappear, Il Sole – 24 Ore reports. The idea is to transfer the competences of the two authorities to the Bank of Italy, which would become the single regulatory authority for operator stability (banks, insurance and the finance sector). Consob (the market watchdog) and the antitrust agency would also see their resources related to transparency and market competition strengthened.
16/04/2012

SIX Group hopes to bring together finance actors

SIX Group, which operates the Swiss stock exchange, is hoping to bring together actors in the Swiss financial market to present the requirements of the industry to the minister of finance, Eveline Widmer-Schlumpf, as a “master plan,” the SonntagsZeitung reports. The financial market urgently needs a coherent strategy, says Urs Rüegsegger, head of SIX Group. “Switzerland is too much on the deensive,” he says. Politicians and administrators have taken control, without actors in the industry having a say. Rüegsegger would like to change that situation, by uniting these actors behind SIX Group, a “neutral party,” to deliver their ideas to the Federal Council by this autumn.
16/04/2012

Swiss government signs taxation agreement with Austria

The Swiss government has signed a new taxation agreement, this time with Austria. The legislation, singed on 13 April in Bern, sets up a tax on Austrian funds on sale in Switzerland and imposes withholding tax for capital gains. Switzerland has also already signed similar treaties with Germany and the United Kingdom, and would like to continue with Greece. The agreements signed so far will come into force in January 2013. Their fate still depends on approval from the parliaments of the countries concerned, which may be complicated in Germany. By giving the priority to solutions of this kind, Switzerland hopes to wipe the slate clean without affecting banking confidentiality, and is hoping to avoid automatic exchange of information sought by the European Union (EU).
16/04/2012

Taxation: names of bank employees may be handed over to United States

The Swiss Federal Council has decided to allow the 11 banks targeted by the US tax authorities to hand over the names of their employees to the United States, Agefi Switzerland reports. So far, sales documents transmitted have been required to be encrypted. The banking establishments may now directly deliver unencrypted information to criminal investigation authorities, says Nadia Batzig, a spokesperson for the Swiss federal finance department (DFF), confirming reports in the Tages-Anzeiger and Bund newspapers. The government has recently decided to allow them to deliver unencrypted information concerning their employees and third partners, including external wealth managers. It has also allowed the banks exemption from article 271 of the Swiss criminal code, which punishes “acts undertaken without permission for a foreign government.” However, information on banking clients still may not be transmitted.
16/04/2012

BVI welcomes tax agreement with US

Thomas Richter, CEO of the German BVI association of asset management firms, on Friday welcomed the terms of a tax agreement between Germany and the United States which makes German institutional funds exempt from income tax withholding in the United States if the fund is held exclusively by one or more German pension funds or retirement entities.Under the new version of the double taxation treaty between Germany and the United States, pension funds and contractual trust arrangements domiciled in Germany are considered pension funds.This rule will benefit assets by about EUR20bn, according to BVI estimates.
16/04/2012
Gestion d'actifs

Le Fonds de pension de Total en Belgique va prochainement investir sur les convertibles

Le fonds de pension de Total en Belgique finalise la sélection d’un gérant pour un mandat de 20 millions d’euros sur les convertibles avec un style de gestion passive. Le fonds de pension s’appuie sur le consultant bfinance et devrait annoncer le nom du lauréat fin avril. Philippe Lamy, le directeur de la gestion du fonds de pension a déclaré vouloir investir jusqu'à 30 millions d’euros à terme sur les convertibles, en réduisant son exposition sur les actions et certains segments obligataires. Il est également prévu de poursuivre la diversification du portefeuille et de rechercher des sources de rendements plus importants. Dans un troisième temps, il s’agira de remettre en concurrence les gérants avec lesquels le fonds travaille déjà sur d’autres classes d’actifs. La situation de Dexia est notamment suivie avec une extrême attention. L’allocation d’actifs (400 millions d’euros au total) est la suivante : 57% en obligations, 33% en actions et 10% en immobilier. Total Belgique a retenu BNP Paribas IP sur les actions et les taux, Aberdeen AM uniquement sur les taux, PIMCO sur les obligations d’entreprises, Dexia AM sur les actions, Blackfriars AM sur les actions émergentes, en particulier sur l’Asie et Petercam sur l’immobilier.
Gestion d'actifs
16/04/2012

Une société de gestion parisienne épinglée par l'AMF

Le rapporteur du Collège de l’AMF a requis 500.000 euros d’amende à l’encontre de la société GSD Gestion, 100.000 euros à l’encontre de son PDG, Jacques Gautier et 50.000 euros à l’encontre de son DG Thierry Gautier. L’amende serait assortie de blâme. Il leur est notamment reproché de n’avoir pas respecté leurs obligations professionnelles lors de la vente d’EMTN dont la valeur a fondu avec la faillite de la banque islandaise Landsbanki en 2008.
16/04/2012

TA Associates entre au capital de Zadig & Voltaire

Le quotidien avance que la «griffe française glam-rock» est «en passe de réussir sa conquête de l’Ouest» par le biais, outre des ouvertures de boutiques outre-Atlantique, de l’entrée à son capital du fonds américain TA Associates. Ce dernier prendra 30% du capital, une opération valorisant la société fondée, détenue et dirigée par Thierry Gillier à 380 millions d’euros.
16/04/2012

Carlyle peaufine les détails de son IPO

Reuters croit savoir que la société américaine de private equity entend récolter début mai à l’occasion de son introduction en Bourse entre 701,5 et 762,5 millions de dollars. Ce qui représente une mise sur le marché de 11% du capital, à raison de 30,5 millions de titres écoulés au sein d’une fourchette indicative attendue de 23 à 25 dollars.
16/04/2012

Blackstone se renforce dans l’immobilier industriel aux Etats-Unis

Le groupe australien Dexus Property Group a indiqué avoir cédé à des entités du fonds Blackstone Real Estate Partners VII 65 de ses actifs immobiliers industriels pour 770 millions de dollars. Le groupe australien entend procéder à un rachat de titres grâce au produit de cette vente. Blackstone de son côté a d’ores et déjà récolté plus de 10 milliards de dollars pour son nouveau fonds dédié à l’immobilier.
16/04/2012

Les propriétaires de Manchester United relancent un projet d'IPO

La famille Glazer chercherait à lever 600 millions de livres, l’équivalent de près de 730 millions d’euros, en mettant 25% à 30% du club de football britannique à la Bourse de Singapour, ce qui le valoriserait jusqu'à deux milliards de livres, a rapporté dimanche le Sunday Times. Ce projet a déjà été étudié par le passé.
16/04/2012

Pékin donne plus de souplesse au yuan

A la grande satisfaction du FMI, la banque centrale chinoise a annoncé ce week-end le doublement de la bande de fluctuation du yuan. Une première depuis 2007.
16/04/2012

KKR veut faire briller le diamant

Le journal dominical britannique, qui ne cite pas ses sources, avance que la société américaine de private equity travaille avec un conseiller à une opération de rachat et de fusion des activités de diamant de BHP Billiton et de Rio Tinto. Les deux groupes miniers souhaitent se défaire de cette activité jugée non stratégique.
16/04/2012

UBS subit une information judiciaire en France

Le quotidien croit savoir que «l’étau judiciaire se resserre autour d’UBS France». La banque suisse subit en effet l’ouverture d’une information judiciaire pour «démarchage bancaire et financier par personne non habilitée et blanchiment (de fraude fiscale et de fonds obtenus à l’aide de démarchage illicite) commis en bande organisée». Le parquet et l’ACP étudient depuis plus d’un an les méthodes de la banque.
16/04/2012

CA Cheuvreux lance sa plateforme de trading

Le courtier du Crédit Agricole inaugure aujourd’hui une plateforme de négociation d’actions européennes, baptisée Blink MTF. Elle permettra de négocier 1.700 titres au sein de 14 marchés. Un outil destiné uniquement aux clients institutionnels et particuliers, dans l’espoir de les rassurer. Blink MTF exclut en effet ainsi les équipes de trading pour compte propre des banques et le trading à haute-fréquence, ce dernier étant découragé par la grille tarifaire selon Ian Peacock, responsable mondial des services d’exécution de Cheuvreux. Le quotidien souligne que ce «high frequency trading» suscite ainsi une nouvelle fois une initiative faisant la preuve des sentiments partagés à son égard.

Sujets d'actualité

Tous les sujets