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18/01/2013
ESG

d' ISR progresse aussi au Canada

L’Association pour l’investissement responsable, vient de publier une étude qui indique que les actifs de l’investissement socialement responsable (ISR) poursuivent leur ascension au Canada. En progression de 16% en un an et demi (entre juin 2010 et décembre 2011), l’ISR affiche une croissance dans pratiquement tous les principaux segments de marché et surpasse la croissance du total des actifs sous gestion. Sur la même, l’ensemble des actifs sous gestion on connu une croissance de 9%. Sur la période, le s actifs gérés conformément à des lignes directrices d’ISR sont passés de 517,9 milliards à 600,9 milliards de dollars. Au 31 décembre 2011, ils constituaient 20 % des actifs sous gestion dans l’industrie financière, en hausse de 1%. Accéder à l'étude canadienne : cliquez ici
ESG
17/01/2013

Le déficit belge sous les 3% en 2012

Selon des premières estimations officielles, le déficit budgétaire de la Belgique s’est établi à 2,96% du PIB en 2012. Le gouvernement avait anticipé un déficit budgétaire de 2,8%. Le ministère du Budget a précisé que le ratio d’endettement du pays avait augmenté pour atteindre 99,7% du PIB.
Eric Dubos
17/01/2013

Rebond des mises en chantier aux Etats-Unis

Les mises en chantier de logements ont progressé de 12,1% en décembre aux Etats-Unis au rythme annuel de 954.000, au-dessus du consensus qui était de 890.000. Les permis de construire ont eux aussi augmenté, quoique à une cadence nettement plus lente qu’au mois de novembre.
17/01/2013

Chute des inscriptions au chômage outre-Atlantique

Les inscriptions au chômage se sont établies à 335.000 aux Etats-Unis lors de la semaine au 12 janvier, contre 372.000 (révisé) la semaine précédente, a indiqué le département du Travail. Il s’agit de la plus forte baisse d’une semaine sur l’autre depuis février 2010.
Luisa Florez
17/01/2013

La CFDT signe à son tour l'accord sur l'emploi

Dans un communiqué, le syndicat demande au gouvernement et au Parlement de transcrire l’accord «en en respectant les équilibres et en associant les parties signataires». La décision de signer l’accord a été prise à l’unanimité de son bureau national, précise la CFDT, l’un des trois syndicats favorables à ce texte avec la CFE-CGC et la CFTC, qui a signé l’accord mardi en soulignant son «caractère historique».
Fabien Ferrer
17/01/2013

L'indice Philly Fed négatif en janvier

L’activité industrielle dans la région de Philadelphie a baissé contre toute attente en janvier, après sa hausse du mois précédent, avec une baisse des commandes nouvelles et un net ralentissement de la croissance des livraisons, selon les données publiées par la Réserve fédérale de Philadelphie. L’indice ressort à -5,8 contre 4,6 en décembre.
Gilles Garnier
17/01/2013

Eurogroupe : Jeroen Dijsselbloem officialise sa candidature

Le ministre des Finances néerlandais, Jeroen Dijsselbloem, a déclaré qu’il présenterait formellement sa candidature à la présidence de l’Eurogroupe demain. L’Eurogroupe, instance qui regroupe les ministres des Finances des 17 pays de la zone euro, doit désigner lundi le remplaçant de son président actuel, le Luxembourgeois Jean-Claude Juncker.
Anne-Laure Frischlander-Jacobson
17/01/2013

Wolfgang Schaüble s'inquiète de la politique monétaire japonaise

Le ministre allemand des Finances s’est dit inquiet au sujet du probable nouvel assouplissement monétaire attendu au Japon, réclamé avec insistance par le nouveau gouvernement en place à Tokyo. «Quand vous pensez au surplus de liquidités sur les marchés financiers mondiaux, cela est encore alimenté par une mauvaise compréhension du rôle de la banque centrale», a déclaré Wolfgang Schaüble lors d’un discours au Bundestag. Le gouverneur de la Banque centrale du Japon (BoJ) Masaaki Shirakawa, le ministre des Finances Taro Aso et le ministre de l’Economie Akira Amari se rencontreront à Tokyo vendredi pour discuter d’un communiqué commun qui devrait être publié par la BoJ et le gouvernement, a dit jeudi à Reuters une source gouvernementale.
17/01/2013

BlackRock frôle les 3.800 milliards de dollars d'actifs

Le gestionnaire d’actifs BlackRock affiche une hausse de 8% de ses encours sur un an à fin 2012, à 3.792 milliards de dollars, et de 3% par rappport à fin septembre 2012. Le groupe a publié un résultat net de 695 millions au dernier trimestre, pour un bénéfice net annuel de 2,44 milliards, en croissance de 9% sur un an.
17/01/2013

UBS plans to develop wealth management activities in China

UBS is extending its activities in China into wealth management. The largest Swiss bank, calling the step “decisive,” on 16 January opened a Chinese-registered affiliate in Beijing, to develop its activities in local currency and to become one of the leaders in wealth management in China. “China represents one of the largest markets in the world for UBS,” its chairman, Axel Weber, says, cited in a statement. “We are committed to strengthening our presence here (in China) and to extending our range of products and services to meet client demand,” he added at the opening ceremony.
17/01/2013

Mirabaud recruits for Spain

Funds People reports that Antonio Rodriguez García has been recruited as deputy to head of investments Raimundo Martín, and as head of marketing and sales for Spain, Portugal and South America by the Swiss firm Mirabaud.García has 15 years of experience in the financial sector, and previously worked at Rothschild and Santander.
17/01/2013

7% growth in assets under management at JP Morgan in fourth quarter

Assets under management at JP Morgan in fourth quarter increased 7%, or USD90bn, compared with fourth quarter 2011, at USD1.4trn, according to figures released by JP Morgan on 16 January, at a presentation of its results. This development is due to market effects and net inflows of USD32bn, of which USD24bn were for money market products, and USD8bn in long-term products. Assets under supervision as of the end of December totalled USD2.1trn, up USD174bn or 8% compared with the previous year. The group overall reported net profits of USD5.7bn in fourth quarter, up 53%, while profits for the year as a whole totalled a record USD21.3bn.
17/01/2013

UBI starts 2013 with a new product offering

After a very satisfactory year in 2012, Union Bancaire Gestion Institutionnelle (UBI), an affiliate of Union Bancaire Privée (UBP), is starting 2013 with an addition to its product range. Inflows for the group last year totalled EUR3.5bn, of which EUR800m went to convertible funds managed in Paris. “2012 was an excellent year for credit, a good year for equities, and lastly, a very good year for convertible equities,” Dominique Leprévots, chairnen of the board at UBI, stated on 16 January at a meeting with investors. On the strength of these results, the firm, which has recently released an SRI convertible fund, has decided to extend its range to global convertible bonds, with the UBAM Convertibles Global fund. This is not least because it claims to have the means in its Paris team to serve an international client base, after launching two dedicated funds of global convertible bonds with a total of over EUR100m. The new strategy carries on the principal characteristics that distinguish the existing product range: a bottom-up approach, discretionary management of delta, investment-grade bias, and hedging for currency risks, with diversification in the three major convertible bond-issuing regions, the United States, Europe, and Asia (including Japan). Principal characteristics of fund Name of fund: UBAM Convertibles Global Legal format: French Sicav – UCITS IV ISIN code: (EUR) FR0011335363 Bloomberg code: UBACGAC FP Equity Management fees: 1.2%
17/01/2013

US Trust launches family WM service

U.S. Trust, Bank of America’s wealth management arm, introduced Family Wealth Services (FWS), a comprehensive approach to meeting the specialized needs of high net worth families and the increasingly complex issues that parents, children and extended family members now face.FWS aggregates a wide range of investment, banking, wealth transfer and legacy planning capabilities within U.S. Trust and provides customized strategies that incorporate generational differences, family diversity, emerging risks to financial security and overall family goals and values. .
17/01/2013

Legg Mason preserves Bill Miller's room to manoeuvre

The Legg Mason group has announced that it will absorb the asset management boutique Legg Mason Capital Management (LMCM, USD6.8bn) into its affiliate ClearBridge Investments (USD54bn).After the deal is closed, the LMCM team in Baltimore will continue to be led by Sam Peters, who took over as manager of the LMCM Value Trust fund in May 2012.For his part, Bill Miller, former star manager of the fund, which at one time had over USD50bn in assets, and consistently beat the S&P 500 from 1991 to 2005, will receive about USD1bn in LMCM assets, to concentrate on the management of the LMCM Opportunity Trust as managing member of LM Miller LLC, a firm he founded jointly with Legg Mason in 1999.Miller will thus not be joining ClearBridge, which will have assets of about USD60bn.
17/01/2013

First infrastructure mandate for First State in North America

Citywire reports that Russell Investments has integrated First State Investments into its global managers platform for the infrastructure sector, and has intermediated institutional mandates for it totalling over USD500m, from the United States, Canada and Australia.
17/01/2013

Assets at Goldman Sachs up 3% in 2012

Despite USD18bn in net redemptions in 2012, compared with USD17bn in 2011, the investment management division of Goldman Sachs at the end of December posted assets up by USD26bn, or 3%, compared with the end of 2011, at USD854bn, according to accounts released by the group on 16 January. Market effects were positive to the tune of USD44bn.Net revenue for the division rose 4% over the previous year, to USD5.22bn, due to a strong increase in performance commission revenues, which were offset by a slight decline in management commission revenues, and by a decline in transaction revenues.Group-wide, net profits in 2012 rose 68% over 2011, to USD7.465bn, compared with USD4.442bn.
17/01/2013

DekaBank launches certificate unit

In line with authorisation granted a few months ago by the board of directors (see Newsmanagers of 13 September), DekaBank (EUR170bn in assets in its investment funds) will on 21 January launch its retail certificate operation, a decisive step in the process which will make the central asset management firm for the German savings banks the single vendor in this sector for these securities, Oliver Behrens, vice-chairman of the board, announced on 16 January.Deka has already been issuing certificates for owners’ equity investments by the savings banks and institutional clients for a decade. The objective is to focus on standard, simple and transparent products, which are appropriate for wider sales, tied to well-known index products such as Dax or Euro Stoxx 50. Deka will deliberately not cover all of the most popular sectors, and will primarily avoid the more speculative segments, says Marco Peters, head of sales for structured products.
17/01/2013

Nestlé Foundation recruits a chief investment officer

Bettina Nürk, who since late 2009 has been head of the financial portion of the corporate retirement planning programme at the German publisher Uhlenbruch, has been appointed to the board at the pension fund for Nestlé Germany (Nestlé Pensionskasse) as chief investment officer. In December she succeeded Peter Hadasch, a board member and director of personnel at Nestlé Deutschland, who remains as head of retirement savings plans, finews.ch reports.Gerhard Latza, a board member responsible for the affiliate Neversa, becomes responsible for real estate management, in addition to his current responsibilities.
17/01/2013

Nomura AM recruits from LGT

Frank Appel, who had previously been head of relationship management for institutional clients at LGT Capital Management, was on 2 January recruited as senior relationship manager for institutional assets at Nomura Asset Management Deutschland KAG (NAMD). His previous employers, before LGT, were the primary insurer Ergo, DWS Investments, and HSBC Global Asset Management.NAMD is led by Andreas Körner, CEO.
17/01/2013

Fidelity Worldwide Investment seeking a head for South-East Asia

Fidelity Worldwide Investment is seeking a new head for its Singapore unit and the South-East Asian region, following the departure of Madeline Ho, who has moved to Natixis Global Asset Management. In the interim, Mark Talbot, managing director for Asia Pacific ex Japan at Fidelity, will assume the role.
17/01/2013

Fidelity Worldwide Investment seeking a head for South-East Asia

Fidelity Worldwide Investment is seeking a new head for its Singapore unit and the South-East Asian region, following the departure of Madeline Ho, who has moved to Natixis Global Asset Management. In the interim, Mark Talbot, managing director for Asia Pacific ex Japan at Fidelity, will assume the role.
17/01/2013

Threadneedle recruits a head of clients for real estate

James Allum, client relationship manager at Aviva Investors for real estate for five years, after serving as client service manager at Henderson Global Investors, has been appointed as client reationship director, overseeing institutional clients investing in real estate portfolios from Threadneedle Investments. The British asset management firm states that he joined the firm on 4 December, and that he reports to Andrew Nicoll, global head of client service.
17/01/2013

Jupiter increases assets in fourth quarter 2012

Jupiter has seen a rise in its assets under management to GBP26.3bn as of 31 December, compared with GBP24.9bn as of 30 September. This is the result of net inflows of GBP688m, of which GBP490m are in mutual funds. For 2012 as a whole, net inflows total GBP966m.
17/01/2013

AEW Europe appoints an executive director

AEW Europe has announced the appointment of Simon Baxland as executive director. He comes as an addition to the opportunity-driven platform at the firm, and joins a team of 40 professionals dedicated to this activity, a statement says. In his new role, Blaxland will be based in London, and will report to Russell Jewel, Managing Director – head of private equity funds. Before joining AEW Europe, Blaxland served in a variety of roles on investment teams at GE Real Estate and Goldman Sachs. More recently, he was Managing Partner at Groupe Exmoor, where he served as investor, operating partner and advisor to several Private Equity Funds. AEW Europe has also announced that it is currently in the process of launching an opportunity-driven fund which will target real estate assets and distressed financial structured, investing both in operational platforms and assets whose valuation is temporarily affected by the market situation.
17/01/2013

Russell Indexes and NYSE Euronext form international alliance

The index provider Russell Indexes and NYSE Euronext on 15 January announced that they have forged an international alliance, which will involve several units at the two groups. The agreement includes an integration of the Glboal Index Feed (GIF) from NYSE Technologies into the RussellTick feed (Russell US indices). The agreement also provides for the introduction of new products in the United States and Europe, including options on indices.
17/01/2013

Sovereign debt risk: Japan is down, United States holding steady

Japan has lost two places, to 35th place in the most recent quarterly index of sovereign risk calculated by BlackRock (BSRI), due to a deterioration of its budgetary situation, but things may develop during the year, due to the inauguration of a new administration and a new governor of the central bank. The United States, for their part, remain at 15th place in the rankings, due to the budget agreement reached early in 2013, which is considreed “better than nothing” by strategists at the BlackRock Investment Institute, who nonetheless predict that there will be some slightly increased turbulence due to the limited scope of the agreement. France is in 27th place in the rankings, after Poland, and before Colombia and Brazil. The top three places are held by Norway, Singapore and Switzerland. BlackRock also offers an interactive BSRI index, which makes it possible to compare ratings between two countries.
17/01/2013

Plans for sovereign funds in Africa multiply

Africa is beginning to see the merits of sovereign funds. This year, no less than seven countries (Angola, South Africa, the Republic of Congo, Tanzania, Kenya, Zambia, and one other) are planning to launch funds, particularly in the wake of the discovery of petrochemical reserves, Les Echos reports. They are joining the ten countries that have launched sovereign funds since 2005, including Libya, Algeria, Sudan, Namibia, Mauritania and Gabon.
17/01/2013

E Fund closes a long/short equity fund

One of the largest Chinese asset management firms, E Fund, which has recently acquired Harvest, has closed a long/short equity hedge fund dedicated to emerging markets, two years after its launch, Asian Investor reports. The decision is said to be related to the poor performance of the strategy, which lost 2.8% in the twelve months to the end of August 2012. Assets under management in the fund notably also totalled barely USD6m at the end of 2012. Another long-only emerging market strategy, launched in May 2012, is also reported to have been closed. One of the co-managers of these funds, Charles Wang, is said to have left the firm in late 2012 to join Bosera, an asset management firm based in Shenzhen, as chief investment officer for quantitative investments and ETFs. The other co-mangaer, Fei Peng, is reported to have remained at E Fund.
17/01/2013

Record assets for Spanish hedge funds

As of 31 December, the “free investment fund,” or Spanish-registered hedge fund, sector had 28 products, with assets of EUR845m, 33% more than at the end of 2011, and the highest level in five years, Funds People reports. The top three actors are March Gestión, with EUR235m, Bestinver (EUR186m), and ICR (EUR161m).However, assets under management in the 18 Spanish-registered funds of hedge funds have fallen 7.8% in one year, to EUR340m, the lowest level in five years.

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