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24/06/2011

Axa IM recrute un gérant dans le secteur de la santé

Axa Investment Managers vient de recruter une gérante dans le secteur de la santé en la personne de Linden Thomson qui travaillera avec la gérante senior Gemma Game, rapporte Investment Week.Linden Thomson travaillait précédemment chez Clear River Capital où elle était responsable de la recherche dans les secteurs de la pharmacie et des biotechnologies. Ce recrutement intervient alors que l'équipe dédiée à la santé a été confrontée à plusieurs départs, dont le lead manager Deane Donnigan qui doit quitter ses fonctions à la fin du mois.
24/06/2011

Skandia recrute un responsable de partenariats

Skandia a annoncé jeudi 23 juin le recrutement de Romain Chevalier au sein de sa direction commerciale grands comptes et banques privées en qualité de responsable de partenariats. Agé de 27 ans, il rejoint l’équipe d’Anne-France Gauthier au sein de la Direction Grands Comptes et Banques Privées de Skandia - exclusivement dédiée aux partenaires institutionnels - où il sera chargé de promouvoir l’offre Skandia Labels sur le marché français. Romain Chevalier travaillait depuis 2008 chez Swiss Life où il a développé les partenariats assurance-vie à travers la constitution d’un portefeuille de partenaires haut de gamme, note un communiqué.
24/06/2011
Fonds

Prim’Finance lance un fonds énergies et métaux

Prim’ Finance, société de gestion spécialisée dans les matières premières, va lancer le 28 juin Prim Commodities, un FCP coordonné de droit français (UCITS III) qui investit dans les énergies et les métaux sans passer par les actions du secteur.Ce produit permet aux investisseurs d’accéder aux marchés des matières premières tout en bénéficiant d’une gestion active de l’exposition et de l’allocation entre les différentes matières premières.Prim Commodities a pour univers d’investissement les énergies (pétrole WTI et Brent, fuel, essence, gazole, gaz naturel), les métaux industriels (cuivre, aluminium, zinc et plomb) et les métaux précieux (or, argent, palladium et platine). Les matières premières agricoles sont exclues de l’allocation.Le fonds, à liquidité quotidienne, est en euros et couvert quotidiennement contre le risque de change. Il est accessible à tous les investisseurs. Par ailleurs, Prim’Finance annonce que le nom de certains produits de la gamme matières premières de Prim’ Finance évolue, le 28 juin 2011 : Prim’ CommodOr devient Prim Gold ; Prim’ EssenCiel devient Prim Energies et Prim’ Kappa Agri est devenu Prim Agriculture le 06 juin 2011. Caractéristiques Nom du fonds : Prim Commodities Code ISIN : FR0011032226Frais de gestion : 2%Frais de surperformance : 20% de la surperformance par rapport à l’indice de référenceIndicateur de référence : 35% S&P GSCI Energy TR + 35% S&P GSCI Industrials Metals TR + 30% S&P GSCI Precious Metals TR
Fonds
24/06/2011
Fonds

Un départ chez Banif AM

Selon les informations de Citywire, le sélectionneur de fonds portugais Luís Alvarenga quitte Banif Asset Management. João Fezas Vital et Jorge Guimarães devraient assurer la relève.
Fonds
24/06/2011

Barclays Wealth Funds choisit à nouveau BNY Mellon Asset Servicing

Une fois de plus, Barclays Wealth a sélectionné BNY Mellon Asset Servicing comme prestataire de services d’agent de transfert et de comptabilité de fonds, ce qui porte à 17 milliards de livres les encours sous conservation et administration chez BNY Mellon AS. Le dernier contrat concerne des actifs domiciliés au Royaume-Uni pour un montant de 4 milliards de livres.
24/06/2011

Clive Burstow retourne chez Barings

Baring Asset Management vient de nommer Clive Burstow dans son équipe Global Energy and Materials en tant que directeur gérant spécialisé dans les ressources. Il aura pour mission de produire des études et des idées d’investissement et d’assister la gestion du Barings Global Resources Fund. Il travaillera sous la direction de Jonathan Blake, responsable du pôle Global Energy and Materials. Il s’agit d’un retour aux sources pour Clive Burstow, qui avait déjà travaillé chez Barings entre 2004 et 2007 en tant qu’analyste. Après quoi, il était parti chez Alliance Bernstein puis chez BlackRock, où il était dernièrement vice président, avec des responsabilités en termes d’analyse et d’investissement dans le secteur minier.
24/06/2011

AMG nomme un responsable de la distribution internationale

Le groupe basé dans le Massachusetts Affiliated Managers Group ou AMG vient de nommer Andrew Dyson en qualité de executive vice-president, responsable de la distribution internationale, une fonction nouvellement créée. Basé à Londres, Andrew Dyson est rattaché à Nathaniel Dalton, president et chief operating officer d’AMG.Andrew Dyson travaillait précédemment chez BlackRock où il était responsable de clientèle institutionnelle internationale. AMG, qui contrôle quelque 27 boutiques d’investissement et dont les actifs sous gestion s'élèvaient à quelque 340 milliards de dollars au 31 mars dernier, souhaite se développer dans la zone Asie-Pacifique. AMG a réduit son exposition aux actions des marchés développés à 29% contre 35% en septembre 2010. Le groupe a en revanche accru son exposition aux actions émergentes à 12% contre 10% précédemment. L’exposition à la gestion alternative s'élève à 30% alors que la poche obligataire ne représente que 1% du portefeuille global.
24/06/2011

Ramius recrute une grosse pointure chez Pimco

Adrian Schultes, qui était senior vice president of institutional direct marketing & consultant relations chez Pacific Investment Management Company (Pimco, groupe Allianz Global Investors), a été recruté à New York comme managing director & head of distribution par Ramius Alternative Solutions LLC (RASL), la filiale de gestion alternative de Cowen Group. Il est subordonné à Thomas W. Strauss, president & CEO de Ramius.Il s’agit d’un poste nouvellement créé, le nouvel arrivant étant chargé des activités de marketing et de distribution ainsi que d’une offensive de notoriété pour les solutions de hedge funds et de conseil sur mesure de la société de gestion.
24/06/2011

EGA obtient la licence de huit indices de Dow Jones

Le 23 juin, Dow Jones Indexes a annoncé avoir accordé la licence d’utilisation de huit indices supplémentaires de la série Dow Jones Emerging Markets Sector Titans Indexes à Emerging Global Advisors LLC (EGA) , société de gestion basée à Ridgewood dans le New Jersey, qui conseille les ETF de la marque EGShares. EGA utilise déjà trois indices Dow Jones EM Titans pour des ETF dits «GEMS» pour Global Emerging Market Sectors.Les nouveaux produits EGA sont les suivants :EGShares Basic Materials GEMS ETFEGShares Consumer Goods GEMS ETFEGShares Consumer Services GEMS ETFEGShares Health Care GEMS ETFEGShares Industrials GEMS ETFEGShares Technology GEMS ETFEGShares Telecom GEMS ETFEGShares Utilities GEMS ETF
24/06/2011

Azimut launches a UCITS-compliant fund exposed to Chinese currency

The Italian management firm Azimut is launching what it says is the first European UCITS III fund to offer exposure to the Chinese currency, the Renminbi, Asian Investor reports. The Renminbi Opportunities fund targets European companies with industrial and commercial relationships with China, which will be able to offer debt instruments denominated in RMB. The fund also offers a means for diversification into a currency which is underrepresented in portfolios currently.
24/06/2011

Pioneer releases an absolute return equity fund

On 21 June, Pioneer Investments launched the Pioneer Absolute Return Equity (PARE), a UCITS-compliant absolute return fund, whose maximal net exposure may vary from -20% to +40%. The product is managed mainly via CFDs on long and short positions, as well as swaps and baskets of equities and sectors, and other derivatives such as futures and publicly-traded options. The management of the cash allocation will largely be undertaken with money market instruments and government bonds, by the internal government bond desk. Pioneer says on this subject that the portfolio includes exclusively government bonds in euros, with a minimal rating of A1/PI (thus, no Greek, Irish or Portuguese bonds). The maximal duration will be three months.CharacteristicsName: Pioneer Absolute Return EquityISIN code: LU0551348047 (A class shares)Front-end fee: maximum 5%Management commission: 2%Distribution commission: maximum 0.15%
24/06/2011

Vanguard launches a range of index funds of funds

Vanguard has launched a range of index-based funds of funds entitled LifeStrategy, Investment Week reports. The funds, which will be based on existing Vanguard products, will include a selection of international equities and British bonds, with exposure to equities ranging from 20% to 100%. Annual commissions will vary from 0.29% to 0.33%.
24/06/2011

Lower-than-expected inflows for Asian hedge funds

Hedge funds in Asia ex Japan have posted net inflows for the month of May of USD1.6bn, according to statistics from the data provider Eurekahedge, Asian Investor reports. Assets under management in hedge funds as of the end of May totalled USD134.3bn. However, inflows were lower than expected in comparison to the number of new fund launches, and consequently Eurekahedge has revised its asset estimates for the year downward. Assets under management for the sector in Asia ex Japan may reach only USD150bn, compared with an initial estimate of USD180bn. In Japan, net inflows totalled USD200m in May, bringing total assets under management to USD16bn, compared with USD22.6bn in January 2008, and a peak of USD39bn in 2006. Japanese hedge funds lost 0.41% in May, and the Eurekahedge Japan hedge fund index was down 2.62% for the three months to the end of May. However, at the same time, the Nikkei index lost .876%.
24/06/2011

MSCI launches a management platform that complies with ESG criteria

The decision-making tool provider MSCI on 23 June announced the launch of its MSCI ESG Manager platform, a vehicle which offers management firms a range of tools which allow them to manage research, analysis and all deontological aspects related to environmental, social and governance (ESG) crtieria. MSCI is also launching the MSCI ESG Impact Monitor, a product which offers analysis of the environmental and social impact of a business, and the capacity of the business in question to manage that impact.
24/06/2011

Assets in Swiss funds down

According to estimates by Swiss Fund Data, assets in Swiss funds as of the end of May totalled CHF653.6bn, of which CHF231.2bn were managed by institutional investors. That represents a decline of CHF11.8bn in one month, despite net subscriptions in the month of CHF876.2m.
24/06/2011

Hedge funds will be subject to increased monitoring by SEC

The Securities and Exchange Commission (SEC) on 22 June passed amendments to the Dodd-Franck law which require hedge fund advisers and other private funds to register with the regulatory authority. The new regulations will come into force from 30 March 2012.
24/06/2011

East Capital says the Russian market holds much promise

Russia is now the market most deserving of investors’ attention, says Marcus Svedberg, chief economist at East Capital, and Olle Olsson, head of its Paris office, Agefi Switzerland reports. The two, at a presentation of the East Capital Lux Russian Fund, Lux Eastern European Fund and Lux Convergence Eastern European Fund in Geneva, claimed that the undervaluation of Russian businesses makes is one of the most promising markets in the region.
24/06/2011

Ramius recruits a big name from Pimco

Adrian Schultes, who was senior vice president of institutional direct marketing & consultant relations at Pacific Investment Management Company (Pimco, Allianz Global Investors group), has been recruited in New York as managing director & head of distribution by Ramius Alternative Solutions LLS (RASL), the alternative management affiliate of Cowen Group. He will report to Thomas W. Strauss, chairman and CEO of Ramius. In this newly-created position, Schultes will be in charge of marketing and distribution activities as well as a notoriety campaign to raise the profile of hedge fund and custom advisory solutions from the asset management firm.
24/06/2011

AMG appoints a head of international distribution

The Massachusetts-based group Affiliated Managers Group, or AMG, has appointed Andrew Dyson as its executive vice president and head of international distribution, a newly-created position. Dyson will be based in London, and will report to Nathaniel Dalton, president and chief operating officer of AMG. Dyson previously worked at BlackRock, where he was in charge of international institutional clients. AMG, which controls about 27 management boutiques, with assets under management totalling about USD340bn as of 31 March, is seeking to grow in the Asia-Pacific region. AMG has reduced its exposure to developed markets equities to 29%, compared with 35% in September 2010. However, the group has increased its exposure to emerging markets equities to 12%, up from 10% previously. Exposure to alternative management totals 30%, while the bond allocation represents only 1% of the total portfolio.
24/06/2011

Departure from Banif AM

According to reports in Citywire, the Portuguese fund selection specialist Luis Alvarenga is leaving Banif Asset Management. João Fezas Vital and Jorge Guimarães will take over his duties.
24/06/2011

Assets up at Mandarine Gestion

As of the end of May, assets at French boutique Mandarine Gestion totalled nearly EUR2bn (compared with EUR1.785bn as of the end of February; see Newsmanagers of 8 March), and net subscriptions totalled EUR350m in January-May, compared with EUR150m in the first two months of the year, Rémi Leservoisier, CEO, has told Newsmanagers. Presently, 25% of assets come from abroad, most of them from Switzerland, Luxembourg, the United Kingdom and Germany.The largest inflows continued to go to the management firm’s flagship fund, Mandarine Valeurs, managed by Marc Renaud, but the Reflex fund, a “co-production” with Edmond de Rothschild Asset Management (Edram) has also done well, attracting EUR250m in two years. Mandarine Unique, a Luxembourg-registered fund (LU0489687326) created on 29 March 2010, has assets of EUR44m, and nas seen net subscriptions since the beginning of the year, albeit limited. The small and midcaps fund (businesses with capitalisations ranging from EUR300m to EUR5bn), managed by Joëlle Moret-Selmer and Diane Bruno, has 50 positions and since its launch has earned 25.27%, compared with 8.89% for its benchmark index, the Stoxx Small 200 – even though its investment universe includes about 300 shares.
24/06/2011

Skandia appoints a head of partnerships

Skandia announced on Thursday, 23 June that it has appointed Romain Chevalier as a member of its key accounts and private banks management team, as head of partnerships. Chevalier, 27, joins the team, led by Anne-France Gauthier within the major accounts and private banks management team at Skandia, dedicated exclusively to institutional partnerships, where he will be in charge of promoting the Skandia Labels brand on the French market. Since 2008, Chevalier had worked at Swiss Life, where he developed life insurance partnerships through the construction of a portfolio of high-end partners, a statement says.
24/06/2011

Axa IM hires James Gledhill

AXA Investment Managers has announced that it has appointed James Gledhill as global head of high yield and deputy head of credit in the AXA Fixed Income business. Gledhill, a veteran of New Star, had until very recently been at Henderson Global Investors, where his funds, Henderson Fixed Interest Monthly Income (GBP510m) and Henderson High Yield Monthly Income (GBP217m) have been taken over by Jenna Barnard and John Patullo, respectively. Gledhill will now report to Theodora Zemek, global head of AXA fixed income, and in his role as deputy head of credit, he will report to Graham Nicol, head of the credit team at AXA Fixed Income, a statement says.
24/06/2011

S&P downgrades rating for Legg Mason

S&P has downgraded its rating for the management firm Legg Mason from BBB+ to BBB. The rating outlook is stable. S&P estimates that ongoing outflows over the past three fiscal years have affected the firms’ position in the market, as well as its financial indicators. Over a period of twelve quarters up to 31 March this year, outflows have totalled USD302.1bn, the newspaper notes.
24/06/2011

Axa IM recruits a manager for the health sector

Axa Investment Managers has recruited a manager for the health sector. Linden Thomson will work with senior manager Gemma Game, Investment Week reports. Thomson previously worked in the team dedicated to the health sector at Clear River Capital, where she was in charge of research into the pharmaceuticals and biotech sectors. The recruitment comes at a time when the team dedicated to the health sector has met with a series of departures, including lead manager Deane Donnigan, who will be leaving his job at the end of the month.
24/06/2011

Clive Burstow returns to Barings

Baring Asset Management (Barings) has appointedvClive Burstow to its Global Energy and Materials team as director and resources investment manager.His new role at Barings will include the production of research and stock ideas and assisting with the management of the Barings Global Resources Fund. He reports to Jonathan Blake, head of Global Energy and MaterialsClive Burstow returns to Barings from Blackrock where he was vice president with responsibility for analysis and investment across the mining sector. Prior to this, he was vice president at Alliance Bernstein and before that was an analyst at Barings for three years between 2004 and 2007. Before Barings he spent nine years as an analyst at the Mining Journal and at Metal Bulletin Research.
24/06/2011

Barclays Wealth funds chooses BNY Mellon Asset Servicing again

Once again, Barclays Wealth has selected BNY Mellon Asset Servicing as its provider of custody and clearance and fund accounting services, bringing assets under custody and administration at BNY Mellon AS to GBP17bn. The new contract covers assets domiciled in the United Kingdom, totalling GBP4bn.
24/06/2011

Prim'Finance launches an energy and metal fund

Prim’ Finance, a French asset management firm specialised in commodities, will launch Prim Commodities, a French-registered, UCITS III-compliant FCP fund which invests in energies and metals without reliance on equities from the sector, on 28 June. The product provides investors with access to commodities markets, with active management of exposure to allocation between various commodities. The investment universe for Prim Commodities includes energies (TWI and Brent oil, fuel, petrol, diesel, natural gas), industrial metals (copper, aluminium, zinc and lead), and precious metals (gold, silver, palladium and platinum). Soft commodities are excluded from the allocation. The fund will offer daily liquidity, and is denominated in euros hedged daily against currency risks. It is available to all investors. Prim’Finance has also announced that the names of some products in the commodities range from Prim’ Finance will be changing from 28 June 2011: Prim’ CommodOr will become Prim Gold; Prim’ EssenCiel will become Prim Energies, and Prim’ Kappa Agri became Prim Agriculture on 6 June 2011.
24/06/2011

New fund for Amiral Gestion

French boutique Amiral Gestion has launched Sextant Europe, a fund which invests in European large caps (market value of over EUR500m). The French-registered product is a stock-picking fund. Due to the liquidity levels of the target businesses, the fund will be available for external distribution as well as to institutional clients. Front-end fees have been reduced to 0% for the first year the fund is on sale. The fund will commence its investments on 29 June 2011. Sextant Europe is the sixth fund in the range from Amiral Gestion, which was founded in 2003. Its other products are Sextant PEA (an international equity fund, launched in 2002), Sextant Grand Large (a flexible balanced fund launched in 2003), Sextant Autour du Monde (a global equity fund launched in 2005), Sextant Peak Oil (an energy fund launched in 2007), and Sextant INC. (an alternative fund launched in 2008).
24/06/2011

French funds represent a diminishing percentage of investment in CAC 40

French funds have only a slight presence in CAC 40 businesses. This is one of the major findings of a study by FactSet and OpinionWay on behalf of the Pro-Actions institute, published exclusively by Les Echos, about investments held by open-ended funds in major indices. French funds represent about one third (33.7%) of investment by international funds in the CAC 40. By comparison, domestic funds have a much larger presence in the Dow Jones index (87.1% US funds) and the FTSE (41.5% British funds). Compared with the 2007 edition of the study, the percentage of CAC 40 capitalisation held by French funds has fallen by 2 percentage points. German funds have also lost ground: their stake in the CAC 40 has been cut to one third of its former level, from 13% in 2007, to 4.2% as of 2011. Meanwhile, US funds have increased their presence in the French index since 2007, up from 22.5% four years ago to 29.8%.

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