Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
13/01/2011
Fonds

35 % des fonds terminent la décennie sur une perte en Italie

Sur 1.650 fonds autorisés à la vente en Italie, ayant au moins 10 années d’existence, plus d’un tiers (590) terminent la décennie 2000-2010 en négatif, constate Plus24. La lanterne rouge du classement est le JPMorgan US Technologie USD, qui accuse une perte de 76,8 % en euros. Les fonds qui dégagent une performance positive sont surtout les fonds monétaires et obligataires, suivis par les fonds actions matières premières et pays émergents. Plus24 note également que pendant ces 10 années, les fonds commercialisés en Italie ont vu sortir en net 182 milliards d’euros, ce qui a conduit à une baisse des encours gérés à 450 milliards.
Fonds
13/01/2011

UBS met en place des services dédiés pour la clientèle fortunée asiatique

Selon Asian Investor, le groupe suisse UBS a mis en place un pôle régional proposant toute une gamme de services à destination de la clientèle fortunée (UHNW) basée à Hong-Kong et Singapour.Le nouveau pôle, piloté par Yan Lau, chez UBS depuis une vingtaine d’années, regroupe des services de conseil, des ressources en philanthropie, des services de gestion de fortune et de conservation.
13/01/2011

Joachim Faber va quitter Allianz

Joachim Faber, membre du directoire d’Allianz en charge de l’activité de gestion d’actifs, a annoncé sa décision de partir à la retraite le 31 décembre 2011. Dans ce contexte, Marna Whittington (63 ans) va quitter son poste de chief operating officer d’Allianz Global Investors le 31 mars afin de se concentrer sur son rôle de chief executive officer d’Allianz Global Investors Capital et sur le développement d’Allianz GI aux Etats-Unis. Jay Ralph, membre du directoire d’Allianz, responsable des marchés Nafta, va reprendre le poste de chief operating officer d’Allianz Global Investors et devenir membre du directoire le 1er avril 2011. Il succédera à Joachim Faber en tant que responsable de la gestion d’actifs au sein du directoire d’Allianz le 1er janvier 2012.
13/01/2011
Fonds

Fortes souscriptions aux fonds suédois en 2010

En 2010, les fonds commercialisés en Suède ont enregistré des souscriptions nettes de 85,8 milliards de couronnes suédoises, soit 9,7 milliards d’euros, selon les dernières statistiques de l’association suédoise des fonds d’investissement (Fondbolagens Förening). Plus de la moitié des entrées nettes se sont portées sur des fonds actions (46,9 milliards de couronnes), les catégories les plus prisées ayant été les fonds d’actions suédoises (13,3 milliards) et les fonds d’actions mondiales (14,2 milliards). Les fonds diversifiés et les fonds obligataires ont quant à eux collecté respectivement 37,1 milliards de couronnes et 23,2 milliards.En revanche, les fonds monétaires ont vu sortir 15,8 milliards de couronnes et les hedge funds 5,2 milliards.A la fin de l’année 2010, les encours des fonds suédois atteignaient 1.964 milliards de couronnes (222 milliards d’euros), dont 1.190 dans des fonds actions (134,5 milliards d’euros).
Fonds
13/01/2011

Swisscanto élargit son champ de compétences

Le groupe Swisscanto a annoncé le 12 janvier la création de deux postes de travail en matière d’analyse et de recherche. En qualité de chef économiste, M. Thomas Liebi prendra la responsabilité des analyses macroéconomiques de Swisscanto. Quant à Marion Swoboda, elle prendra la responsabilité de la recherche en développement durable, renforçant ainsi la position de leader de Swisscanto en matière de placements durables. «L’attribution de ces deux nouveaux postes à des spécialistes éminemment qualifiés permet à Swisscanto d’accroître son influence dans le domaine de la recherche. Les connaissances acquises seront immédiatement appliquées à la gestion d’actifs et au développement de produits de placement et de prévoyance, en particulier dans le domaine du développement durable», souligne Swisscanto. Thomas Liebi (précédemment dans une caisse de pension) prendra ses fonctions le 1er avril prochain tandis que Marion Swoboda (précédemment chez SAM) assumera les siennes à compter du 1er mai 2011.
13/01/2011

Progression de 15% des actifs sous gestion de Landolt

Selon L’Agefi suisse, les actifs sous gestion de la banque suisse Landolt & Cie se sont accrus l’an dernier d’environ 15%, grâce notamment au renforcement du desk Amérique latine. Les effectifs ont progressé d’une quinzaine de membres à 65 personnes. Le montant des actifs sous gestion n’est traditionnellement pas communiqué.
13/01/2011

Markus Aisslinger nommé CFO de la banque zweiplus

La banque zweiplus a annoncé le 12 janvier la nomination de Markus Aisslinger CFO et membre de la direction. Il prend également en charge la fonction de Head of Corporate Center, succédant ainsi à Michael Moll, indique la banque dans un communiqué. En commun avec Markus Hadschieff, Head of Direct Clients, Michael Moll «a décidé de quitter la banque pour relever de nouveaux défis». Alfred W. Moeckli, CEO, assure de façon intérimaire la responsabilité opérationnelle de la division Direct Clients. Auparavant, Markus Aisslinger travaillait précédemment à la banque Sal. Oppenheim jr & Cie (Suisse) SA en qualité de managing director pour le marché suisse des actions.
13/01/2011
Fonds

Partners Group investit dans l’immobilier indien

Partners Group a annoncé le 12 janvier avoir effectué, sur mandat de ses clients, un investissement dans un portefeuille immobilier en Inde. L’investissement a été réalisé à des conditions de rentabilité favorables, précise Partners Group dans un communiqué.
Fonds
13/01/2011

Gonet & Cie accélère son développement

Les actifs sous gestion de la banque suisse Gonet & Cie se sont inscrits en hausse de 40%, pour 30% de collaborateurs supplémentaires et deux fois plus de gérants, rapporte L’Agefi suisse. Après une année 2010 de forte croissance, Gonet & Cie poursuit son expansion avec l’ouverture d’un service dédié aux gérants indépendants (actuellement 5% à 10% des actifs sous gestion) et l'élargissement de son offre, tout en investissant de nouveaux locaux. Autre axe de développement stratégique annoncé pour le premier semestre, une plate-forme de services en matière de philanthropie. «C’est la concrétisation de la stratégie de croissance décidée en 2008, qui nous permet d’avoir atteint une taille confortable pour notre développement futur», explique Nicolas Gonet, l’un des trois associés indéfiniment responsables. La banque ne communique pas le montant de ses actifs sous gestion. Elle emploie actuellement une soixantaine de collaborateurs, dont une quinzaine de gérants.
13/01/2011

Net accroissement de l'encours de db x-trackers

La division ETF de la Deutsche Bank, db x-trackers, a annoncé le 12 janvier un encours de 36,3 milliards d’euros pour fin décembre, ce qui représenterait un gonflement de 38 %. Si l’on se fonde toutefois sur le montant annoncé voici douze mois (lire notre article du 19 janvier 2010), la hausse a été de 36,9 % par rapport aux 27 milliards d’euros annoncés à l'époque. Sur cet accroissement de 9,8 milliards d’euros, les souscriptions nettes ont représenté 7,1 milliards d’euros sur un total de européen de 35,3 milliards d’euros (pour les ETF et les ETC), si l’on en croit Thorsten Michalik, directeur de db x-trackers.Pour 2011, le gestionnaire allemand compte élargir sa gamme, qui comporte actuellement 174 ETF, notamment dans les domaines obligataire et du crédit, des produits couverts du taux de change et des ETF répliquant un portefeuille de plusieurs indices différents.
13/01/2011

AGI et Union réduisent leur offre de fonds monétaires

Le Handelsblatt constate que quelques-uns des plus gros gestionnaires d’actifs allemands allègent leur gamme de fonds monétaires après des remboursements massifs liés à une perte de confiance des investisseurs ainsi qu'à la baisse des performances. Depuis 2008, l’encours des fonds monétaires allemands a chuté de 54 milliards d’euros.Allianz Global Investors (AGI) a l’intention d'élaguer cette année 30 de ses quelques 330 fonds offerts au public, principalement des fonds monétaires, indique une porte-parole. Union Investment a annoncé pour sa part la fusion d’un fonds monétaire de 106 millions d’euros avec un fonds similaire tandis qu’un autre produit va être absorbé par un fonds monétaire en dollars.
13/01/2011
Fonds

Janus commercialise cinq fonds de plus en Espagne

Désormais, la gamme de Janus Capital International Ltd en Espagne compte 25 fonds, rapporte Expansión. Le gestionnaire américain vient en effet de lancer la commercialisation en Espagne de trois fonds d’actions (Janus US Fund, Perkins Global Value Fund et Janus Emerging Markets Fund) et de deux fonds obligataires (Janus Global Investment Grade Bond Fund et Janus Global High-Yield Fund) qui sont, comme les 20 autres produits enregistrés en Espagne, des compartiments de la sicav de droit irlandais Janus Capital Funds.
Fonds
13/01/2011
Fonds

Lynx et OFI vont lancer un fonds matières premières

Dans le cadre de sa présentation lors que séminaire OFI le 12 janvier, Peter J. Tanous, président de la société de gestion américaine Lepercq Lynx Investment Advisory, a annoncé le lancement prochain conjointement avec OFI d’un fonds luxembourgeois de matières premières."Il ne s’agira pas de n’importe quelle matière première», précise le manager. «Nous sélectionnerons celles qui se caractérisent à la fois par une hausse de la demande et une baisse de l’offre. De plus, elles doivent présenter comme caractéristiques d'être difficilement substituables. Ce sera donc un fonds investi sur le pétrole, sur l’or, sur l’eau et sur le bois», a indiqué Peter Tanous.
Fonds
13/01/2011

Lynx and OFI to launch a commodities fund

p { margin-bottom: 0.08in; } At his presentation at the OFI conference on 12 January, Peter J. Tanous, president of the US asset management firm Lepercq Lynx Investment Advisory, announced the forthcoming launch of a Luxembourg-registered commodities fund in conjunction with OFI.“The fund will not invest in just any commodity,” says the manager. “We will select the ones which show both strong demand and falling supply. In addition, they will need to have the characteristics of being difficult to substitute for. It will thus be a fund that invests in oil, gold, water, and timber,” says Tanous.
13/01/2011

Amundi launches a green ETF on Euronext Paris

p { margin-bottom: 0.08in; } On 12 January, Amundi ETF announced the launch of the Amundi ETF Green Tech Living Planet fund on NYSE Euronext Paris, in collaboration with WWF International and its affiliate, Living Planet Fund Management Company S.A., and CA Cheuvreux.The new French-registered fund (FR0010949479) aims to replicate the performance of the Living Planet Green Tech Europe fund, net return, denominated in euros. TER is 0.45%.The methodology of the index, created through a partnership between Amundi ETF, Living Planet Fund Management Co. S.A. and the SRI research teams at CA Cheuvreux, is based on the principles of identifying domains of activity that meet the definition of “green tech,” with the use of a filter to exclude sectors such as arms, fossil fuels and gambling, among others, to take into account liquidity criteria (minimal capitalisation of EUR100m, and average daily trading volume of EUR2m for the past six months), and weighting of shares on the basis of the percentage of their earnings related to green tech (at least 20%).
13/01/2011

CIAM launches a merger arbitrage fund

p { margin-bottom: 0.08in; } CIAM, a French alternative management firm specialised in merger arbitrage, announced on Wednesday, 12 January, that it has created a Luxembourg-registered fund specialised in the merger and acquition arbitrage segment. The fund will invest in financial markets in Europe and the United States and Canada, targeting listedcompanies which are the subject of takeover offers, between the time when the deal is announced and the finalisation of the deal, a statement says. The investment process is a contrarian type, based on fundamental analysis of transactions and active trading. Companies are required to have capitalisation of over USD500m, in order to ensure adequate liquidity. Liquidity will be monthly, and without gates or lock-ups. The performance objective is set in the 10% to 15% annual range. CIAM has also created a humanitarian charity, independent of the management firm, to which it pays 25% of its performance commissions.
13/01/2011

RCM prepares to release an intelligent govies fund

p { margin-bottom: 0.08in; } In the relatively near future, the Austrian management firm Raiffeisen Capital Management (RCM) is expected to receive a sales license in France for a new bond fund specialised in government bonds, which aims to be “intelligent.” Though RCM has not emphasized new bond products in France for about two years, this new fund may well correspond to the needs of the moment, in a time of crisis for govies, particularly in the Euro zone.The new Austrian-registered product is based on a in-house index developed by Raiffeisen Research. As Philippe Leroy, country head for France, explained Newsmanagers on 12 January at the OFI conference, the fund is designed to do without two constraints: the benchmark, and the ratings agencies. The index is defined on the basis of 20 country-by-country fundamental statistics. If weights each one on the basis of this information, so as not to pay a premium to the less well-behaved countries, the governments who borrow most and thus gain weight in traditional indices. In addition, the index takes into account all countries of the world, and not only the traditionally best-rated.On the basis of this index, RCM then undertakes active management to optimise results.RCM has assets in France of about EUR300m. Growth is expected to accelerate with the addition of retail product marketing, which began two and a half years ago, and which is beginning to gain “nice” levels of assets.
13/01/2011

Strong inflows to Swedish funds in 2010

p { margin-bottom: 0.08in; } In 2010, funds on sale in Sweden posted net subscriptions of SEK85.8bn, or about EUR9.7bn, according to the most recent statistics from the Swedish investment fund association (Fondbolagens Förening). More than half of net inflows were to equities funds (SEK46.9bn), where the most popular categories were Swedish equities funds (SEK13.3bn) and global equities funds (SEK14.2bn). Balanced funds and bond funds, for their part, showed inflows of SEK37.1bn and SEK23.2bn, respectively. However, money market funds saw outflows of SEK15.8bn, and hedge funds had outflows of SEK5.2bn. As of the end of 2010, assets in Swedish funds totalled SEK1.964trn (EUR222bn), of which SEK1.19trn were in equities funds (EUR134.5bn).
13/01/2011

Janus releases five more funds in Spain

p { margin-bottom: 0.08in; } The product range from Janus Capital International Ltd in Spain now includes 25 funds, Expansión reports. The US management firm has released three equities funds (Janus US Fund, Perkins Global Value Fund, and Janus Emerging Markets Fund) and two bond funds (Janus Global Investment Grade Bond Fund and Janus High-Yield Fund) for sale in Spain. Like the other 20 products registered in Spain, the products are sub-funds of the Irish Sicav Janus Capital Funds.
13/01/2011

Gonet & Cie accelerates development

p { margin-bottom: 0.08in; } Assets under management at the Swiss bank Gonet & Cie have risen 40%, with 30% more employees and twice as many managers, Agefi Switzerland reports. After a year of strong growth in 2010, Gonet & Cie is continuing its expansion with a service dedicated to independent managers (currently 5% to 10% of assets under management), and an enlargement of the product range, along with a move to new offices. Another strategic area of development announced for first half is a philanthropic services platform.“This is the concretisation of a growth strategy set out in 2008, which will allow us to reach a comfortable size for our future development,” explains Nicolas Gonet, one of the three partners, the scope of whose responsibilities are not defined. The bank provides no information about volumes of assets under management. It currently employes 60 people, 15 of whom are managers.
13/01/2011

Swisscanto extends area of expertise

p { margin-bottom: 0.08in; } The Swisscanto group announced on 12 January that it has created two positions in analysis and research. A chief economist, M. Thomas Liebi will take over responsibility for macroeconomic analysis at Swisscanto. Marion Swoboda becomes head of sustainable development research, strengthening Swisscanto’s leading position in sustainable investment.“The addition of the new positions for eminently qualified specialists will allow Swisscanto to increase its influence in the area of research. The knowledge acquired will be immediately applied to asset management and the development of retirement planning products, particularly in the area of sustainable development,” Swisscanto adds.Piebi, previously at a pension fund, will begin on 1 April, while Swoboda, previously at SAM, will begin on 1 May 2011.
13/01/2011

Net increase in assets at db x-trackers

p { margin-bottom: 0.08in; } The ETF division of Deutsche Bank, db x-trackers, on 12 January announced that it has assets of EUR36.3bn as of the end of December, an increase of 38%. Based on the amount announced twelve months ago (see Newsmanagers of 19 January 2010), the increase was 36.9%, from EUR27bn at the time. Of this increase of EUR9.8bn, net subscriptions represented EUR7.1bn, out of a European total of EUR35.3bn (for ETFs and ETCs), says Thorsten Michalik, head of db x-trackers.For 2011, the German fund management firm is planning to enlarge its product range, which currently includes 174 ETFs, largely in the areas of bonds and credit, products which are hedged for currency risks, and ETFs replicating a portfolio of several different indices.
13/01/2011

Joachim Faber to leave Allianz

Joachim Faber (60), member of the board of management of Allianz SE, responsible for the Asset Management business, has informed the supervisory board of Allianz SE of his intention to retire on December 31, 2011. Marna Whittington (63) will step down from her position as chief operating officer of Allianz Global Investors on March 31, 2011, in order to focus on her role as chief executive officer of Allianz Global Investors Capital and on the development of the AllianzGI business in the USA. Jay Ralph (51), member of the board of management of Allianz SE, responsible for NAFTA markets will also assume the role of chief operating officer of Allianz Global Investors and become member of the board of management on April 1, 2011. He will succeed Joachim Faber, responsible for the Asset Management business on the board of management of Allianz SE, on January 1, 2012.
13/01/2011

AGI and Union to reduce money market fund offerings

p { margin-bottom: 0.08in; } Handelsblatt reports that some of the largest German asset management firms are cutting back their money market fund ranges following massive redemptions related to loss of investor confidence and falling returns. Since 2008, assets in German money market funds have fallen EUR54bn.Allianz Global Investors (AGI) is planning to cut 30 of its roughly 330 open-ended funds this year, many of them money market funds, a spokesperson says. Union Investment has announced that it is merging a EUR106m money market fund with a similar fund, while another product will be absorbed into a US dollar money market fund.
13/01/2011

Global ETF assets increased by more than one quarter in 2010

p { margin-bottom: 0.08in; } As of the end of December, assets in ETFs worldwide totalled USD1.3113trn, compared with USD1.0361trn one year earlier. This increase of 26.6%, calculated by Deborah Fuhr at BlackRock, directly reflects the 26.6% increase in the number of ETFs, with 593 new products created and 77 removed from trading. In 2009, the number of ETFs increased by 21.9%, In total, as of the end of December there were 2,459 ETFs listed 5,554 times, from 136 providers, listed on 46 stock exchanges. One year earlier, there were 1,943 products listed 3,827 times, from 108 issuers, on 41 stock markets.There are currently plans to release 1,097 new ETFs. BlackRock also states that 31 new providers arrived on the market with their first ETFs in 2010, while three withdrew from this activity, and 40 others are planning to launch their first ETFs soon.The rankings remain unchanged: iShares remains the global leaders, with 473 ETFs, USD578.6bn in assets, and a market share of 44.1%. It is followed by State Street Global Advisors (SSgA), with 113 products and USD190.7bn in assets, for 14.5% of the market. Vanguard is in third place, with 65 ETFs, USD148.5bn in assets, and market share of 11.3%.Net subscriptions last year for all providers in the areas of ETFs and ETPs, however, fell, to USD169.4bn from USD176.3bn in 2009.
13/01/2011

Sparinvest and Brandes team up in corporate bonds

Bandes Investment Partners, L.P. in the U.S., and Sparinvest Group in Denmark have entered an agreement to manage jointly new global fixed-income value products focusing on corporate bonds across the rating spectrum. The alliance, which has an indefinite term, does not call for either firm to invest capital in the other.Brandes plans to offer global fixed-income products in North America, using Sparinvest as a sub-advisor for non-North American corporate bonds (specifically European, Japanese and Emerging Market bonds). Sparinvest plans to offer global fixed-income products in Europe using Brandes as a sub-advisor for North American corporate bonds. It is envisaged that the first jointly-managed products will be introduced in the first quarter of 2011, with Sparinvest launching a fund product in Europe, and Brandes seeding a pooled fund in the United States.The two firms’ value bond teams have complementary strengths in the corporate credit asset class, and between them cover the two regions that comprise the substantial majority of the world’s non-governmental debt. Brandes is a leader in value investing in the U.S., where corporate bonds are a well-supported and mature asset class. Sparinvest has pioneered its value bond strategy in Europe, and is recognized for the performance of its High Yield Value Bonds fund during a period of rapid growth in the credit markets. Brandes was founded in 1974 by Charles Brandes who is a disciple of value pioneer Benjamin Graham.
13/01/2011

Hedge funds reduce exposure to equities to 25%

p { margin-bottom: 0.08in; } According to the most recent Hedge Fund Monitor from Bank of America Merrill Lynch, hedge funds are becoming prudent, and have reduced their exposure to equities to 25%, compared with a historical average of 35% to 40%, Cotizalia reports. In theory, this should be a sign that stock markets are about to fall, as they did in November. Meanwhile, hedge funds are betting on agricultural commodities, particularly corn and soy, as well as oil and copper. Their short positions are concentrated on the euro and ten-year government debt.
13/01/2011

35% of funds finish decade in negative territory

p { margin-bottom: 0.08in; } Of 1,650 funds licensed for sale in Italy which have been in existence for at least 10 years, more than one third (590) have finished the decade 2000-2010 in negative territory, Plus24 finds. At the bottom of the rankings is the JPMorgan US Technologie USD, which has lost 76.8% in euros. The funds which have earned positive returns are largely money market and bond funds, followed by commodities equities and emerging markets. Plus24 also notes that in this 10-year period, funds on sale in Italy saw net outflows of EUR182bn, which led to a decline in managed accounts to EUR450bn.
13/01/2011

Vestima (Clearstream) to be connected to Xetra

p { margin-bottom: 0.08in; } Deutsche Börse is entering a cooperation in the area of trading of shares in investment funds with its Luxembourg affiliate Clearstream. The Börsen-Zeitung has learned that the order routing platform for funds listed on Clearstream, Vestima, will be connected to the Xetra electronic trading platform. The operators will gain a way to make trades with the market makers for funds on Xetra, namely Baader, Equinet and Close Brothers Seydler.
13/01/2011

Number of ETFs increasing faster than asset levels

p { margin-bottom: 0.08in; } In 2010, net subscriptions to ETF and ETP products in Europe totalled USD50.2bn, compared with USD56.8bn in 2009, while ETFs listed in Europe grew by USD45.7bn, of which USD13.3bn went to iShares (BlackRock), USD8bn to db x-trackers (Deutsche Bank), and USD6.8bn to Lyxor Asset Management (Société Générale).BlackRock says assets in European ETFs at the end of the year totalled USD284bn, compared with USD226.9bn, an increase of 25.2%, compared with an increase of 29.5% in the number of ETFs, to 1,071 funds (listed 3,699 times). The number of providers increased to 39 from 34. Also, 543 of these ETFs have assets of under USD50m, and 171 have assets of under USD10m.As of the end of December, the top three providers had a combined market share of 71.1%, compared with 75% one year earlier (see Newsmanagers of 14 January 2010). iShares continues to be the leader, with 181 ETFs and USD101.8bn in assets, corresponding to 35.8% of the market (compared with 38.4% one year earlier). Lyxor remains in second place, with 154 products and EUR52.4bn (18.4% of the market, compared with 20.4%), and db x-trackers ranks third, with 152 ETFs and USD47.9bn, a market share of 16.9%, compared with 16.6%.

Sujets d'actualité

Tous les sujets