Two months after the announcement of an exclusive agreement with the manangement of Artémis brokerage (see NewsManagers of 6 July 2018), the investment company Raise Investissement yesterday announced that it has become a minority shareholder in the group. Raise Investissement will invest about EUR20m alongside the six founders of Artémis brokerage “to support the group in its ambitious development projects, particularly by opening new branches of its own, increasing the power of digital tools, and accelerating the external growth strategy through targeted acquisitions,” the investment firm says. As a part of this move, Artémis brokerage has entered exclusive negotiations with a credit and insurance broker with strong regional bases thanks to a network of 10 of its own branches, a statement says. The Artémis brokerage group, founded in 2009 at the initiative of the six current directing partners, is active in the real estate credit brokerage sector, borrower insurance and grouping of credit. The group has a network of 40 branches, largely self-owned. It has earnings of about EUR40m, on a total of over EUR2.5bn in credit traded in 2017. p { margin-bottom: 0.1in; line-height: 115%; background: transparent none repeat scroll 0% 0%; }

The Admilia company is joining the Mediane-Axege group, which is seeing its capital partly reorganized as part of the operation. Bruno Weber is teaming up with Thierry Ganter in the management and in the capital of the group, while Turenne Santé, alongside BNP Paribas Développement and Adaxtra Capital, round out the financing for this external growth. Turenne Capital entered the capital of the Mediane-Axege group in June 2017, to assist its director Thierry Ganter, alongside BNP Paribas Développement and Adaxtra Capital, at the time of the withdrawal of Initiative & Finance and ACG Management. The Mediane-Axege group is a specialist in the publication of administrative and management software for public health establishments and ESPIC (private health establishments in the collective interest). Admilia is an expert in budget and accounting management software solutions aimed at public and government bodies. The merger will create a leading group in software solutions for better public management. The merger will allow the group to reach critical size, with over 100 employees, more than 40 of whom are developers, and cumulative earnings of about EUR12.5m. Mediane-Admilia is also increasing its potential for growth to new clients in the area of health, including ESPICs, and more broadly to public bodies in all sectors, with the ability to take on larger projects. p { margin-bottom: 0.1in; line-height: 115%; background: transparent none repeat scroll 0% 0%; }

As clients’ demand for ESG (Environmental, Social and Governance) accelerates, and following the strategic decision to integrate ESG analysis across its investment platforms, Axa IM announced that it is moving to the next phase of its commitment to RI to strengthen the Responsible Investment (RI) capabilities.Axa IM is integrating ESG analysis into all of its investment platforms, providing fund managers with access to proprietary ESG scores and KPIs in their front office tools, as well as additional ESG data and research. Additionally, RI specialists are progressively being embedded into each investment team to support fund managers incorporate ESG and impact analysis into their investment processes.“This new step to integrate RI throughout the business will ensure that ESG integration combines the need for common views on thematic engagements, voting and ESG scoring, while bolstering investment teams with detailed ESG corporate analysis. This will lead to increased transparency and clarity for our clients on the ESG footprint of their investments, allowing us to better engage with them and help to direct their funds into those companies that have a positive impact on society”, said Matt Christensen, Global Head of Responsible Investment at Axa IM.“Axa IM has also developed an impact investing approach that goes beyond ESG risk monitoring to encompass those companies that are making positive contributions to the UN Sustainable Development Goals. Teams across the business are now even more involved in developing our RI offering, to better address our clients’ needs with the objective of reshaping certain strategies as ESG and launching new Impact strategies”, added Matt Christensen.Within Axa IM the RI capabilities are now organised as follows: - A central RI team focusing on thematic research, corporate governance and shareholders engagement as well as on developing quantitative solutions. - As climate, human capital and health have been identified as the key thematic priorities for the centralised RI team, specialists have also been appointed for each of these three themes. Lise Moret is responsible for the climate change strategy and Marie Fromaget has recently joined Axa IM as Human Capital & Diversity analyst. In addition to their responsibilities for the green and social bonds, Julien Foll covers health and Alice Val, climate. They will work with Yo Takatsuki, who is joining Axa IM as Head of ESG of Research and Engagement, effective November 1st. - ESG specialists within the investment platforms to conduct ESG analysis at the company level. Some have already joined the investment teams: Melina Leprince-Ringuet for Framlington Equities, Shah Khan for Rosenberg and Rebecca Greenberg & Augustin Monnoyeur for Fixed Income.ESG integration is a firm wide approach at Axa IM, encompassing thematic and qualitative ESG analysis, proprietary ESG scoring, analytical solutions and reporting, as well as voting & engagement which all contribute to the investment decisions. In addition, ESG training is in place for all employees.Axa IM manages EUR442 billion of ESG-integrated assets under management (ca. 60% of the total assets under management), of which EUR16.8 billion are considered “sustainable investing” assets.

To date, the SRI label promoted by the French finance ministry has been awarded to 149 funds managed by 32 asset management firms, representing assets of EUR41bn, the website of the SRI label reports. The objective for the label, created in 2016, is to make socially responsible products more visible to savings investors in France and Europe. So far, only Afnor Certification is accredited by Cofrac (the semi-public body which assures the quality of labelling). A second organisation, EY France, is in the process of accreditation, meaning that it is not yet accredited, but tht it may still issue the SRI label, the website states. p { margin-bottom: 0.1in; line-height: 115%; background: transparent none repeat scroll 0% 0%; }

LBO France is adding to its range of funds, traditionally reserved for retail investors, with the launch of the FCPR White Caps Sélection, a private equity fund available to wealth management clients on the basis of an engagement of EUR25,000. The FCPR Shite Caps Sélection will invest directly or via funds managed by LBO France in stakes in French or European private small cap or mid cap companies, which are profitable and growing, as part of capital development or capital transmission operations. To increase its diversification, the FCPR may also invest in real estate.To launch its product, LBO France is relying on pre-selected wealth management advisers with detailed knowledge of venture capital. Several of these partners have been involved in all stages of construction of the FCPR White Caps Sélection to better meet the current expectations of wealth management clients seeking to diversify their wealth into non-public assets in a context favourable to private equity.“The launch of the FCPR White Caps Sélection meets a need. Wealth management clients are seeking diversified investments today, in direct contact with the real economy and sheltered from the often-erratic fluctuations of the public markets. The new fund will provide access to private equity investment strategies which are usually reserved for professional clients. Through its multi-strategy approach, the vehicle will offer mutualization of risks. It will allow new clients to benefit from the historic expertise of LBO France in the private investment segment,” says Robert Dassun, chairman of LBO France, in a statement.LBO France, which has been present in France in the private segment for more than 30 years, has EUR3.4bn in capital under management.

The quantitative asset management firm Tobam, the creator of the Maximum Diversification approach, on 17 September announced that it is adopting a policy to systematically reduce the carbon footprint of all of its anti-benchmark equity portfolios and its maximum diversification indices. “A systematic reduction of at least 20% of the carbon footprint compared with the carbon footprint of the benchmark index now applies to all equity portfolios from Tobam,” the asset management firm says in a statement. This decision applies to all equity portfolios, which represent 94% of total assets at Tobam, or about USD10bn, a spokesperson for the asset management firm tells NewsManagers.The decision to reduce the carbon footprint of portfolios reinforces sustainable development initiatives taken by Toban since 2007, when the firm implemented a policy to exclude companies with reprehensible environmental, social and governance (ESG) practices. “Our capacity to further integrate ESG principles into our investment process, while preserving the integrity of our approach, represents the main accomplishment of our approach,” says Yves Choueifaty, chairman of Tobam, in a statement. “Our research work indicates that a 20% reduction in the relative carbon footprint of our portfolios would not significantly affect the return/risk profile of our strategies, or their diversification characteristics as measured by the diversification ratio.”

The independent asset management firm Auris Gestion on 17 September announced the arrival of Daniel Fighiera, previously deputy CEO of Tocqueville Finance, as part of the development of its collective management activity, as director of equity management and a member of the executive board. “With this recruitment, the asset management firm marks its desire to significantly scale up its European equity expertise,” Auris Gestion says in a statement. As part of his new role, Fighiera will work to strengthen the range of European equity investment solutions in all cap sizes, with the launch of a new Luxembourg-registered PEA fund, which will come as an addition to the existing range. Fighiera, 53, began his career in 1989 as a financial analyst at AGF. He then continued his career as head for European small and mid-cap equities at Crédit Lyonnais Asset Management from 1995, and then at Rothschild et Cie in 2004, with the launch and management of the primed multi fund R Midcap Euro. In 2012, Tocqueville Finance offered him the position of deputy CEO of the structure, and responsibility for collective management. According to his LinkedIn profile, Fighiera left Tocqueville Finance at the end of 2017. p { margin-bottom: 0.1in; line-height: 115%; background: transparent none repeat scroll 0% 0%; }

In addition to the arrival of François l’Hénoret as head of commercial development (NewsManagers of 17 September), the independent asset management firm Sanso Investment Solutions on Monday announced the arrival of Quentin Calvet as head of relationships with multi-managers and private banks. Calvet had since 2014 been responsible for relationships with institutional clients at Covéa Finance, and worked at MyFundOffice. “The arrival of L’Hénoret and Calvet on our team allows us to accelerate our development, diversify our client base, and capitalise on our solid track record and our innovative positioning in the area of socially responsible investment,” says David Kalfon, chairman of Sanso Investment Solutions, in a statement. p { margin-bottom: 0.1in; line-height: 115%; background: transparent none repeat scroll 0% 0%; }

Oddo BHF Asset Management on 17 September announced the recruitment of Pascal Isner as head of distribution for German-speaking Switzerland. In his new role, Isner will be responsible for marketing and distribution of the range of funds for institutional clients and distribution partners. Isner previously worked at Credit Suisse, where he was involved in distribution functions for 12 years. He was previously a portfolio manager, at firms including UBS and Julius Baer. p { margin-bottom: 0.1in; line-height: 115%; background: transparent none repeat scroll 0% 0%; }

HSBC Holdings plc announced Peter Boyles will retire from HSBC, to be succeeded as Chief Executive, Global Private Banking by António Simões, subject to regulatory approval, effective 1 January 2019. James Emmett will succeed António Simões as Chief Executive of HSBC Bank plc and Chief Executive of Europe with immediate effect.Peter Boyles joined HSBC in 1975 and has worked in many different roles in Asia, the Middle East and Europe. He was appointed a Group Managing Director and joined the Group Management Board in October 2013. Prior to being appointed CEO of Global Private Banking, Peter was CEO, Continental Europe, and Head of Commercial Banking for Europe.António Simões joined HSBC in September 2007 as Group Head of Strategy, reporting to the Group Chairman. In October 2009, he was appointed Group Head of Strategy & Planning and Chief of Staff to the Group CEO, and subsequently spent two years in Hong Kong. In January 2012, he relocated to London to lead the European Retail Banking and Wealth Management (RBWM) business, including responsibility for Asset Management and Insurance. He was then appointed CEO for HSBC in the UK, and Deputy Chief Executive of HSBC Bank plc, before being appointed in September 2015 as Chief Executive of HSBC Bank plc and Chief Executive of Europe.James Emmett has been with HSBC since 1994 and has over 20 years of international banking experience working in a variety of roles in Commercial and Retail Banking, Trade Finance, Operations & Technology and Strategy across Europe, Asia, the Middle East and the Americas. His previous roles include Chief Operating Officer of HSBC Bank plc, CEO of HSBC Turkey and Global Head of Trade and Receivables Finance.p { margin-bottom: 0.1in; line-height: 115%; background: transparent none repeat scroll 0% 0%; }

Columbia Threadneedle Investments a annoncé, lundi 17 septembre, la nomination avec effet immédiat de Katherine Haesaerts en tant que directrice commerciale pour la Belgique. L’intéressée sera chargée de développer les partenariats de la société et les relations avec ses clients dans le pays, y compris les plateformes de distribution et les réseaux de conseillers financiers. Katherine Haesaerts sera placée sous la direction de Prosper van Zanten, responsable de la distribution Benelux chez Columbia Threadneedle et travaillera en étroite collaboration avec Claude Ewen, directeur commercial pour le Luxembourg et la Belgique.Avant de rejoindre Columbia Threadneedle, Katherine Haesaerts a passé deux ans au sein de La Financière de l’Echiquier où elle était directrice commerciale pour le Benelux et la Scandinavie. Elle dirigeait l’équipe chargée de la distribution dans la région. Auparavant, elle a travaillé pendant dix ans au sein de Société Générale Corporate and Investment Banking (SGCIB), où elle a occupé divers postes au département Global Markets. Ses dernières fonctions chez SGCIB ont été « Sales Cross Asset Solutions Benelux » et responsable du marketing produits pour la Belgique et les Pays-Bas.

La société de gestion suisse Belvédère Asset Management a annoncé ce 17 septembre l’ouverture d’une nouvelle implantation à Pfäffikon, dans la région de Zurich. La nouvelle entité sera dirigée par Raphael Bieri, qui a rejoint la société de gestion en début d’année en provenance de la Banque cantonale de Zurich. Raphael Bieri sera épaulé par Christian Hauser, chargé de clientèle.Belvédère AM, déjà présent à Zürich et Glarus, affiche des actifs sous gestion d’environ 2,5 milliards de francs.

Magnus Blohme, l’ancien patron du family office et des particuliers très fortunés (UHNWI) de Credit Suisse en Allemagne, est passé à la concurrence. Il travaille depuis début septembre chez UBS en qualité de responsable Global UHNW Germany International, en charge des activités offshore avec les particuliers allemands très fortunés, rapporte Private Banking Magazin.Magnus Blohme avait rejoint Credit Suisse en novembre 2016 après avoir passé sept ans chez Commerzbank à Francfort. Deux collaborateurs de l'équipe dirigée par Magnus Blohme ont également quitté Credit Suisse. Le premier, Clemens von Stechow, a rejoint Magnus Blohme chez UBS; le second, Daniel Bugmann, a été recruté par Pictet.

Le gestionnaire d’actifs espagnol Trea Asset Management vient de recruter Patricia Lopez en tant que responsable des ventes et responsable de l’équipe de distribution institutionnelle, rapporte le site spécialisé Funds People. La nouvelle recrue arrive en provenance de Schroders où elle a travaillé pendant près de 15 ans, notamment comme directeur de comptes en charge des clients particuliers et institutionnels. Elle a débuté sa carrière chez Allfunds Bank où elle a officié dans le département dédié aux produits financiers.

Le Fonds souverain d’Arabie saoudite a sécurisé un prêt international de 11 milliards de dollars, a-t-il annoncé lundi. Il avait cherché en vain à lever des milliards de dollars via l’entrée en bourse du géant pétrolier Aramco pour financer la diversification économique du royaume, encore trop dépendant du pétrole. Or, le PIF cherche à porter ses actifs à 400 milliards de dollars d’ici 2020. Ils sont estimés actuellement à 230 milliards de dollars, principalement sous forme de participations dans des sociétés comme SABIC (pétrochimie). Depuis l’effondrement des cours du pétrole mi-2014, l’Arabie saoudite, premier exportateur mondial de brut, a accumulé plus de 260 milliards de dollars de déficits budgétaires, et a emprunté plus de 100 milliards de dollars pour aider à financer ce déficit.

Le gérant d'actifs va intégrer des critères environnementaux, sociaux et de gouvernance dans toutes ses plates-formes. Il recrute plusieurs spécialistes.

Tobam a annoncé hier l’adoption d’une politique de réduction systématique de l’empreinte carbone de tous ses portefeuilles actions «anti-benchmark» ainsi que ses indices «maximum diversification». La société de gestion quantitative indique qu’une réduction systématique d’au minimum 20% de l’empreinte carbone par rapport à l’indice de référence s’applique désormais à l’ensemble de ses portefeuilles actions.

Tobam a annoncé lundi l’adoption d’une politique de réduction systématique de l’empreinte carbone de tous ses portefeuilles actions « anti-benchmark » ainsi que ses indices « maximum diversification ». La société de gestion quantitative indique qu’une réduction systématique d’au minimum 20% de l’empreinte carbone par rapport à l’indice de référence s’applique désormais à l’ensemble de ses portefeuilles actions.

Janus Henderson a annoncé le 13 septembre le lancement d’un ETF géré activement dédié au secteur hypothécaire (MBS), le Janus Henderson Mortgage-Backed Securities ETF (JMBS), conçu pour battre l’indice Bloomberg Barclays U.S. MBS. Ce produit est le premier proposé sur le marché américain depuis la fusion, le 30 mai 2017, de Janus Capital Group avec le groupe britannique Henderson, relève un communiqué. Les actifs hypothécaires représentent environ 9.300 milliards de dollars sur les 41.000 milliards de dollars du marché obligataire américain. Les investissements sur le marché des MBS (6.500 milliards de dollars) sont pour l’essentiel logés dans un petit nombre d’ETF gérés passivement qui ont enregistré des flux entrants significatifs au cours des cinq ans au 30 juin 2018, dans des portefeuilles institutionnels suivant le Bloomberg Barclays US Aggregate Bond Index et dans des fonds ouverts gérés activement.Selon Janus Henderson, «il existe un espace libre considérable entre les ETF passifs à bas coûts et les mutual funds gérés activement aux coûts élevés qu’un ETF géré activement comme JMBS a le potentiel de remplir». John Kerschner, responsable des produits titrisés américains chez Janus Henderson, va cogérer l’ETF avec Nick Childs. Les gérants exploiteront les capacités de recherche du groupe dans les actifs titrisés pour identifier les inefficiences sur le marché des MBS. Janus Henderson a une équipe de dix analystes spécialisés dans les produits titrisés.Janus Hendeson est entré sur le marché des ETF obligataires gérés activement en novembre 2016 avec le Janus Henderson Short Duration Income ETF. Les actifs sous gestion de cet ETF s’inscrivaient à un peu plus de 580 millions de dollars au 10 septembre 2018, moins de deux ans après son lancement.

La société de gestion allemande Fairvesta, spécialisée dans l’immobilier, change de dénomination et devient Verifort Capital, rapporte le site Fondsprofessionell. La société entend ainsi prendre un nouvel élan et poursuivre le développement de ses activités de gestion. Jusqu’ici surtout active dans le secteur résidentiel, elle envisage de se développer également dans l’immobilier commercial et l’immobilier spécialisé (hôtellerie et résidences pour personnes âgées).La société gère actuellement 12 fonds immobiliers totalisant un encours de 800 millions d’euros.

La société de gestion Sanso IS, dirigée par David Kalfon, vient de recruter François L’Hénoret en qualité de responsable du développement commercial. L’intéressé devrait prendre ses fonctions à bref délai. François L’Hénoret a notamment travaillé chez Janus Henderson Investors où il était en charge du développement de la clientèle wholesale en France et Monaco. Il a également été assistant director chez Rothschild & Co entre 2012 et 2015. Un autre recrutement serait en cours.Les actifs sous gestion de Sanso IS s'élèvent à environ 750 millions d’euros.

Covea travaille sur une nouvelle approche du réassureur Scor après le rejet de son offre amicale de 8,2 milliards d’euros le mois dernier, ont indiqué vendredi deux sources proches à l’agence Reuters. Covea, qui avait proposé d’acheter toutes les actions Scor en circulation, cherche à convaincre le conseil d’administration de ce dernier d’accepter un accord en proposant de maintenir la société en bourse, ont indiqué les sources. Selon l’une d’elles, une nouvelle offre serait potentiellement supérieure aux 43 euros offerts à l’origine. «Covea garderait Scor indépendant avec un capital flottant d’au moins 20%», a déclaré une source. «Covea est prête à revendre une participation sur le marché après la prise de contrôle."Covea, qui détient 8,22% du capital de Scor, s’est refusé à tout commentaire auprès de l’agence.

Gilles Guez, qui a pris la direction générale de BFT Investment Managers début 2015, dresse un bilan du projet stratégique à trois ans qu’il avait initié à son arrivée et présente à NewsManagers les grandes lignes de son nouveau plan de développement. Au cours des trois dernières années, les actifs sous gestion se sont accrus au rythme de 3 milliards d'euros par an pour atteindre la barre des 30 milliards d'euros. Gilles Guez espère bien maintenir ce rythme au cours des prochaines années

Aviva Investors a recruté Mark Robertson en qualité de responsable des fonds multi-stratégies, rapporte Investment Week. L’intéressé rejoint Aviva Investors en provenance de NN Investment Partners où il aura passé sept ans et où il était responsable des portefeuilles multi-classes d’actifs. Il avait notamment en charge les portefeuilles total return et diversifiés, d’un encours d’environ 14 milliards d’euros. Chez Aviva Investors, Mark Robertson, qui sera rattaché à Peter Fitzgerald, responsable des investissements multi-asset et macro, interviendra en qualité de gérant de portefeuille sur les stratégies AIMS Target Return, Target Income et Fixed Income. Par ailleurs, Ian Pizer, responsable de la stratégie d’investissement, a démissionné de ses fonctions. Il continuera de travailler pour Aviva Investors, mais à temps partiel, indique-t-on.

Le principal fonds de dotation de l’université de Cambridge a subi le départ de quatre de ses cadres, rapporte le Financial Times fund management. Nick Cavalla, le directeur des investissements, va quitter son poste, de même que Bruce Lockwood, Conor Cassidy et Vincent Fruchard. Les quatre vont rejoindre Talisman Global Asset Management. Nick Cavalla et ses collègues, qui gère 3,3 milliards de livres d’actifs pour le fonds faisaient l’objet de critiques importantes de la part des étudiants en raison de leurs investissements dans des compagnies pétrolières et gazières.

Le gestionnaire d’actifs français Axiom Alternative Investments (Axiom AI) a annoncé, le 13 septembre, les recrutements de Laurent Henrio en tant que gérant de portefeuille et d’Antonio Roman au poste d’analyste recherche au sein de son bureau de Londres. Dans le cadre des nouvelles fonctions, Laurent Henrio sera chargé de la gestion du fonds Axiom Synthetic Credit Opportunity, dont le lancement est prévu au début de l’année 2019. Laurent Henrio, qui a travaillé pendant 16 ans dans le trading crédit, arrive en provenance de Société Générale où il a officié depuis 2011 en tant que trader sur le crédit, dernièrement en tant que responsable mondial des activités de trading sur le crédit.Pour sa part, Antonio Roman sera responsable du développement des modèles quantitatifs sous Solvabilité 2 et Bâle 3. En poste depuis juin 2018, il a précédemment travaillé en tant qu’analyste quantitatif chez Goldman Sachs Asset Management et JP Morgan Asset Management.

ING va commencer à évaluer son portefeuille de prêts de 600 milliards de dollars en se basant sur l’impact climat, une première étape dans la transition de l’intégralité de son portefeuille afin qu’il soit aligné avec les réductions des émissions demandées dans le cadre de l’accord de Paris, rapporte le FT. L’initiative, la première du genre pour une grande banque, inclura la mise sous pression des clients dont les activités ne se conforment pas aux objectifs climat de l’accord.

@page { size: 8.27in 11.69in; margin: 0.79in }p { margin-bottom: 0.1in; line-height: 115%; background: transparent }The German asset management firm Fairvesta, a specialist in real estate, is changing names to become Verifort Capital, the website Fondsprofessionell reports. The firm is planning to take a new direction and pursue the development of its asset management activities. The firm, which had previously been active mostly in the residential sector, is planning to develop in commercial and specialist real estate (hotels and retirement homes) also.The firm currently manages 12 real estate funds, with total assets of EUR800m.

@page { size: 8.27in 11.69in; margin: 0.79in }p { margin-bottom: 0.1in; line-height: 115%; background: transparent }AllfundsBank, a European open architecture fund distribution platform, on 14September announced that it is opening a new office in Sao Paulo,Brazil, and appointing Jorge Sierra as its new country head. Theannouncement comes at a time when the firm has topped EUR16bn inassets under administration in Latin America and in offshore markets,Allfunds says in a statement.

After a hesitation of several weeks, investors have finally chosen to reduce their exposure to equities by significant proportions in recent days. This sudden aversion to risk has clearly been driven by persistent commercial tensions and rising turbulence in emerging markets. In the week ending 12 September, funds dedicated to equities saw net outflows of USD5.6bn, the largest outflows of the past 11 weeks, according to the weekly Bank of America Merrill Lynch survey, based on data from the global flow monitoring specialist EPFR Global.With the notable exception of funds specialised in Japan, which attracted USD0.9bn in the past week, all other categories of funds finished the week more or less in negative territory. European equity funds, which had seen a timid return to positive territory last week, after 25 weeks of outflows, finished the week in negative territory again, with net outflows of USD1.4bn. In the past six months, European equity funds have seen outflows of USD57bn.