La société de gestion française Hixance Asset Management vient de lancer le fonds Hixance Focus Brazil, un fonds diversifié international ayant pour objectif de profiter de la croissance du Brésil. Il vise à offrir un rendement supérieur à son indice de référence, composé de 40 % du MSCI Brazil 10/40, de 40 % du Stoxx Europe 600 et enfin de 20 % de l’indice Eonia. Le nouveau produit de droit français, conforme à la réglementation européenne, sera investi sur le marché brésilien par le biais de fonds, d’ETF et futures sur indices locaux, ainsi que dans des actions de sociétés européennes réalisant une partie de leur chiffre d’affaires au Brésil ou en Amérique latine. L’allocation en actions pourra varier de 0 % à 100 %. Caractéristiques Code ISIN : FR0011039312 (part A)/FR0011060276 (part R)

Le groupe britannique HSBC envisage d'étoffer son offre d’ETF avec des produits couvrant la Russie, l’Inde, les marchés émergents européens (entre autres un ETF qui engloberait la Russie, la Pologne et la Hongrie) et les pays du groupe des «civets» (Colombie, Indonésie, Vietnam, Egypte, Turquie et Afrique du Sud), rapporte Money Marketing.Tous ces véhicules devraient être lancés d’ici à la fin de l’année.

Les inquiétudes suscitées par la dette grecque ont entraîné une décollecte nette de 3,5 milliards de dollars sur les fonds d’obligations à haut rendement durant la semaine au 22 juin, selon les estimations d’EPFR Global. Les fonds obligataires européens ont également subi une forte décollecte alors que parmi les neuf catégories de fonds actions, une seule («global emerging market equity funds») a enregistré des souscriptions nettes durant la semaine sous revue.Dans leur ensemble, en chiffres, les fonds obligataires ont affiché une décollecte nette de 583 millions de dollars, les fonds actions de 3,32 milliards de dollars et les fonds monétaires de 7,3 milliards de dollars. Les fonds dédiés aux actions américaines ont subi de «modestes» rachats durant la semaine sous revue mais depuis le début de l’année, ces fonds affichent une collecte nette de 27,5 milliards de dollars. A noter aussi que les fonds d’obligations indexées sur l’inflation enregistrent depuis le début de l’année une collecte nette de plus de 7 milliards de dollars.

Le gestionnaire alternatif First Trust Advisors de Wheaton (Illinois) annonce qu’il va lancer le 6 juillet le First Trust ISE Cloud Computing Index Fund (acronyme SKYY sur le Nasdaq), son 60ème ETF, qui avait été déclaré à la SEC par une notification en date du 20 avril. Ce fonds, qui réplique l’ISE Cloud Computing Index, est géré par un comité de six gérants sous la direction de Robert Carey, vice president & CIO. La commission de gestion est fixée à 0,60 %.

A compter du 1er août, le professeur Frank J. Fabozzi rejoindra l’EDHEC-Risk Institute où il travaillera avec le professeur Lionel Martellini, directeur scientifique de l’institut, au développement d’EDHEC-Risk Institute North America. Le Pr. Fabozzi aura aussi la tutelle des travaux des candidats au doctorat de l’EDHEC-Risk Institute en finance, un cursus ouvert aux praticiens du secteur.

Bloomberg, annonce L’Agefi, croit savoir que Clayton Dubilier & Rice, la société de private equity, fait partie des prétendants au rachat de l’activité de fonds ouverts (mutual funds) de Hartford Financial Services Group. L’acquéreur ne devrait pas être connu avant plusieurs semaines, pour une opération qui pourrait s'élever à 1,5 milliard de dollars, précise le quotidien.

L’Agefi rapporte que selon une correspondance avec la SEC publiée hier par le fonds d’investissement Blackstone, l’autorité des marchés américaine souhaite en savoir davantage sur les modalités de rémunération des dirigeants du groupe, dont l’ajustement est laissé «à la discrétion» du patron Stephen Schwarzman.

Le remplaçant d’Henry McVey à la tête de l'équipe d’allocation d’actifs mondiale de Morgan Stanley Investment Management (MSIM) sera Cyril Moullé-Berteaux, qui était parti fonder en 2003 le gestionnaire alternatif multistratégies Traxis Partners avec Barton Biggs, l’ancien CIO de MSIM. L’impétrant avait exercé différentes fonctions chez MSIM (284 milliards de dollars fin mars) entre 1995 et 2003, notamment comme head of the asset allocation team et head of asset allocation research.Cyril Moullé-Berteaux, qui sera responsable de la stratégie d’allocation d’actifs dans l’univers long-only, sera subordonné à Ruchir Sharma, head of emerging market equity. Ce dernier continuera de diriger l'équipe actions émergentes et supervisera la stratégie global macro.MSIM précise que le recrutement de Cyril Moullé-Berteaux est la seconde embauche cette année d’un «ancien» de la société. En février, la société avait en effet déjà réembauché Ashutish Sinha comme managing director et gérant de portefeuille senior dans l'équipe global emerging markets. Ce dernier reste basé à Singapour, où il avait été l’un des fondateurs du gestionnaire alternatif Amoeba Capital Parners. Il avait annoncé il y a huit mois son intention de prendre un congé sabatique (lire notre dépêche du 11 octobre 2010).

Mark Röder, qui était jusqu'à présent head of product & sales management chez Vontobel Asset Management, a été promu global head of product sales. Il sera subordonné directement à Axel Schwarzer, CEO de la gestion d’actifs de Vontobel.Dans ses nouvelles fonctions, Marko Röder sera responsable de l’ensemble du suivi de la clientèle avec l’expertise en matière d’investissement, la compétence en matière de produit et les activités de services aux investisseurs dans le cadre d’une stratégie multi-boutiques.Parallèlement, Vontobel annonce que Hansjörg Herzog, qui était head of relationship management EMEA, «a décidé de relever d’autres défis professionnels à l’extérieur du groupe» suisse.

EFG International a annoncé le 27 juin la nomination de John Williamson, 49 ans, précédemment CEO de sa filiale EFG Private Bank au Royaume-Uni et aux Îles Anglo-Normandes, au poste de CEO. Il succède à Lonnie Howell, cofondateur de la société qui se retire après seize ans passés dans cette fonction et qui sera proposé pour être élu au conseil d’administration.EFG International explique dans un communiqué avoir réévalué au cours des derniers mois ses options stratégiques à la lumière des conditions de marché ardues et de l’appréciation continue du franc suisse. Sur cette toile de fond, il a décidé d’équilibrer plus efficacement sa volonté de poursuivre sa croissance en adoptant une approche plus rigoureuse de la profitabilité et en procédant parallèlement à des changements jugés «opportuns» au niveau des responsabilités directoriales. Lonnie Howell a été, en 1995, le cofondateur avec Jean Pierre Cuoni, d’EFG International. Il a joué un rôle essentiel dans le développement de l’entreprise qui est passée d’une start-up à une banque internationale de private banking dont les actifs sous gestion ont progressé à 85 milliards de francs suisses à fin 2010. John Williamson a rejoint, en 2002, EFG Private Bank en tant que CEO. Lukas Ruflin reste CEO adjoint d’EFG International. Anthony Cooke-Yarborough, jusqu’ici directeur général d’EFG Private Bank au Royaume-Uni, remplace John Williamson comme CEO de cette entité. Tous les autres membres de l’équipe de direction conservent leurs fonctions actuelles. John Williamson entreprendra de revoir complètement les activités d’EFG International en vue de préserver ses nombreuses forces et d’en tirer le meilleur parti, tout en traitant les questions découlant de la croissance rapide de l’organisation ainsi que des changements des conditions de marché. En se basant sur sa performance depuis le début de l’année, EFG International prévoit de dégager cette année un bénéfice net de l’ordre de 140 à 160 millions de francs, par rapport à un objectif fixé à 200 millions avant la forte hausse récente de la devise helvétique.

RWC Partners has launched a convertible bond fund dedicated to the Asian region, Investment Week reports. The Asia Convertibles fund, launched on 8 June, will be closed with assets of about USD300m to USD350m. The fund is managed by Davide Basile, head of convertible bonds at the British group, who is manager of the Global Convertibles fund, a portfolio of USD1.2bn.

More than EUR300m in investment commitments have already been received by Union Investment for its new institutional fund UII Shopping Nr. 1, a real estate product which will invest up to EUR750m, with 30% to 40% leverage, in shopping centres measuring over 25,000 square metres. Each investment will be for at least EUR90m. The new fund will mostly focus on core Euro zone markets: Germany, France, Belgium, Italy, the Netherlands, and Austria. The manager will complement these with assets located in Poland and the Czech Republic.

Since 27 June, five ETFs from Ossiam Lux have been added to trading on the XTF segment of the Xetra electronic platform from Deutsche Börse. The Natixis affiliate has listed two equities products replicating equally-weighted indices (see Newsmanagers of 27 June): Ossiam ETF STOXX® EUROPE 600 equal weight NR (LU0599613147, with fees of 0.35%) and Ossiam ETF EURO STOXX 50® equal weight NR (LU0599613063, 0.30%).The management firm has also launched the following minimum variance funds (see Newsmanagers of 28 April): Ossiam ETF EURope Minimum Variance NR (LU0599612842, 0.65%) and Ossiam ETF US Minimum Variance NR denominated in euros (LU0599612685, 0.65%) and in US dollars (LU0599612412, 0.65%).The products will soon also receive a sales license for France, where Ossiam is planning to launch exclusive products as well.With the addition of these funds, the XTF segment now lists 816 ETFs.

The European Equity Focus sub-fund of the Schroder ISF Sicav, launched on 3 March, which has assets as of 27 June of EUR5.17m (see Newsmanagers of 7 March) has received a sales license for Germany. The equities fund has no benchmark, and invests in 30-35 positions, specialised in European shares, including those which benefit from emerging markets, with headquarters in core EU countries, France, Europe, Scandinavia, and the Netherlands. The fund is managed by Rory Bateman, CIO for European equities (the team has EUR9bn in assets in 9 funds), who contributes his “best ideas” to the fund.CharacteristicsName: Schroder ISF European Equity FocusISIN code: LU0591897516Front-end fee: 5%Management commission: 1.50%Performance commission: 10%Minimal initial subscription: EUR1,000 or USD1,000

Concerns over Greek debt have led to a net outflow of USD3.5bn from high yield bond funds in the week to 22 June, according to estimates from EPFR Global. European bond funds have also seen net outflows, while of the nine categories of equities funds, only one (global emerging market equity funds) has posted net subscriptions in the week under review.Bond funds overall have posted a net outflows of USD583m, while equities funds have posted outflows of USD3.32bn, and money market funds USD7.3bn.Funds dedicated to US equities have seen “modest” redemptions in the week under review, but since the beginning of the year, these funds show net inflows of USD27.5bn.Inflation-linked bond funds have posted net inflows since the beginning of the year of over USD7bn.

The British HSBC group is planning to make additions to its ETF product range, with products covering Russia, India, emerging European markets (including an ETF which will cover Russia, Poland and Hungary), and countries of the CIVETS group (Colombia, Indonesia, Vietnam, Turkey, and South Africa), Money Marketing reports.

Pimco has announced the launch of the Pimco GIS Euro Income Bond Fund, a fund which aims to “generate regular revenue, dynamise growth in returns,a nd to minimise risk,” a statement says. In practice, the fund’s distribution objective is 5% per year, paid monthly, which is a risk-adjusted performance higher than that of other income investments, such as government bonds, certificates, money market funds, and equities. In order to achieve that, the portfolio, which privileges high quality instruments, has an average duration of 1 to 8 years, and will have some flexibility if interest rates rise. The Pimco GIS Euro Income Bond Fund is a part of the Global Investor Services (GIS) range from Pimco, which complies with UCITS III regulations. It is registered in Dublin, and managed by Luke Spajic, executive vice president and head of managemetn for pan-European credit portfolios. Money Marketing reports that Pimco has also announced that it has pulled out of a credit fund, the GIS Diversified Income duration hedged fund, which proposes to help investors to reduce interest rate risks. The fund, which is also domiciled in Dublin, invests in several sectors of fixed income, investment grade corporate bonds and high yield, emerging market debt, bank credit, convertible bonds, municipal bonds, and ABS.

Pimco has launched a credit fund, the GIS diversified Income duration hedged fund, which aims to held investors to reduce interest risks, Money Marketing reports. The fund, which is domiciled in Dublin, invests in multiple sectors of fixed income, investment grade and high yield corporate bonds, emerging market debt, bank credit, convertible bonds, municipal bonds, and ABS.

Old Mutual Asset Managers is planning to close its UK Dynamic Equity fund, launched two years ago, in order to protect the performance of the portfolio, Investment Week reports. The GBP186m fund, domiciled in Dublin, is managed by Luke Kerr and Ashton Bradbury, and last month had excess capacity of about GBP7m.

Fund Web reports that Alliance Trust is planning to launch an income fund dedicated to emerging markets equities. The fund will be the third in a trilogy of income funds, which also includes an international equities fund and a bond fund.

The British HSBC group is planning to make additions to its ETF product range, with products covering Russia, India, emerging European markets (including an ETF which will cover Russia, Poland and Hungary), and countries of the CIVETS group (Colombia, Indonesia, Vietnam, Turkey, and South Africa), Money Marketing reports. All of the vehicles will be launched by the end of the year.

According to a report from Bolsas y Mercados Españoles (BME), the percentage of capital in Spanish companies held by foreign investors as of the end of 2010 had fallen to 39.2%, compared with 40.1% one year earlier, Cinco Días reports. The decline is significant in the financial sector. The percentage of capital in Ibex companies held by banks had fallen to 4.6% as of the end of December, compared with 9.4% as of the end of 2007. The percentage of shares in Ibex businesses held by investment funds and Sicavs has fallen to 5.6%, compared with 7.2% as of the end of 2006.

Financial News reports that Knight Vinke, the activist investor based in Monaco, is planning to launch a hedge fund.

Funds People reports that Hannah Strasser, Anne Yobage and Thomas Kelleher, who in 2010 joined Axa Investment Managers to manage US credit funds, have decided to leave the firm.

Axa Investment Managers (Axa IM) on 27 June announced that it has appointed Irshaad Ahmad to the position of head of distribution at AXA IM for the UK and Scandinavian markets, from 28 June, Ahmad will be based in London, and will join the executive board at AXA IM. Before joining AXA IM, Ahmad had been at Russell Investments, from 2004. He then successively served as head of sales to distributors, institutionals and consultants in Canada (2004-2010), and then in the United Kingdom (2010), where he was also head of client services and marketing.

Financial News reports that Guillaume Rambourg, the former star manager from Gartmore, who was suspended last year due to suspected irregularities, and who was then cleared, has founded a charity to which he has transferred all of his 3.9% stake in Henderson, the firm which acquired Gartmore. The stake is valued at GBP13.8m.

From early July, the high yield management team (EUR3.7bn) at Threadneedle, led by Barrie Whitman, will include seven people, three of whom will be portfolio managers (Whitman, Michael Poole and David Backhouse) and four analysts, with the arrival of Gareth Simmons (ex Morgan Stanley) and Jenny Wong (ex Putnam Investments) as analysts. “Now the high yield team is complete,” says Jim Cielinski, head of fixed income.

Skandia Investment Group (SIG) on 27 June announced that, having received permission from extraordinary shareholders’ meetings on 20 June, the Skandia Strategic Bond Fund (EUR140m) will on 30 June absorb two smaller funds, the Skandia Global Fixed Interest Blend Fund and the Skandia UK Fixed Interest Blend Fund. Shareholders in the latter two products will receive a reduced commission of 0.8%, instead of 1.25%, for the fund into which they are to be absorbed. The Skandia UK Equity Blend Fund will also be absorbed into the Skandia UK Best Ideas Fund. The objectives of the two funds are very similar, and the management commissions are the same (1.5%).

One of the richest families in China will acquire funds from the alternative management firm RAB Capital, which has been obliged to abandon listing of the funds on the British AIM market in order to meet redemption demands from investors. The Sunwah group, which is owned by the Hong Kong-based Choi family, will acquire the Energy and Octane funds from RAB Capital, the Financial Times reports. The Chinese group is planning to set up a London-based hedge fund activity, which may represent assets of over USD1.5bn by the end of the year. Funds from RAB Capital, totalling about USD300m, are already set to receive additional support of USD250m from a Singapore investors in the next few weeks.

Agefi relays reports by Bloomberg that Clayton Dubilier & Rice, the private equity firm, is one of the candidates to acquire the mutual fund activities of the Hartford Financial Services Group. The identity of the winning bidder will not be known for several weeks for the deal, which is expected to total about USD1.5bn, the newspaper reports.