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14/01/2013

Assets up at Franklin, AllianceBernstein and Invesco

As of the end of December, assets under management by Franklin Templeton, AllianceBernstein and Invesco were up by USD20.9bn compared with 30 November.The strongest increase in assets (USD13bn, to USD781.8bn), is signed once again by Franklin Templeton, while AllianceBernstein has posted a gain of USD4bn (to USD430bn), and Invesco has reported an increase of USD3.9bn, to USD687.7bn. However, Legg Mason has posted a decline in its assets to USD647.9bn, from USD648.3bn at the end of November.
14/01/2013

Former PGGM team launches own SRI firm

The team which had managed the socially responsible equity portfolio for the Netherlands-based pension fund PGGM will this Monday found its own firm, Ownership Capital, which aims to provide “a new way to invest,” Financial Times Fund Management reports. The entity will have eight members, and will be led by Alex van der Velden, founder and former CEO of FairPensions. Ownership Capital claims to be the first asset management firm to unite a range of emerging trends in the asset management sector, FTfm reports.
14/01/2013

Clay AM opens up to collective management

Clay Asset Management, which was founded in October 2011 by Cyril Bergé, Ludovic de Polignac and Bruno Parizet, and which had up to EUR125m in assets under management via management mandates, is opening up to collective management.The asset management firm is launching two funds: Clay New Horizons, which invests in emerging market equities, and Clay Multi Assets, which is an asset allocation fund.
14/01/2013

Legg Mason recruits for Italian sales team

The Italian team at Legg Mason, led by Marco Negri, has recruited Stefania Nicola as client relationship manager, Bluerating reports, citing Il Mondo. He had previously been a fund analyst at Santander private banking Italia. The firm has also promoted Matteo Lenardon to the position of sales manager for the domestic market.
14/01/2013

Lyxor hedge fund index up in December

The benchmark index for the hedge fund sector calculated by Lyxor gained 1.07% in December 2012. Year on year, the performance of the inde totals 3.07%.Of fourteen strategies, twelve finished the month of December with gains. The best returns were for the Lyxor Merger Arbitrage (+2.96%), the Lyxor L/S Credit Arbitrage (+2.60%), and the Lyxor Global Macro (+1.40%).The two strategies which showed losses in December were the Lyxor L/S Equity Market Neutral, down 1.10%, and the Lyxor L/S Equity Statistical Arbitrage (-0.43%). Year on year to the end of December, the best returns were for the Lyxor L/S Credit Arbitrage strategy, which gained 12.07%, Lyxor L/S Equity Long Bias (+11.16%), and Lyxor Fixed Income Arbitrage (+10.53%).
14/01/2013

JPMorgan analyst launches own fund

Matt Truman, a former JPMorgan analyst, will this Monday launch True Capital, a fund which will invest up to GBP100m in the retail and consumer sectors, the Financial Times reports. The firm will select companies which are able to create niche positions for themselves in retail, with high barriers to entry and good prospects for growth.
14/01/2013

Piguet Galland to develop private banking operation

The Piguet Galland & Cie private bank is recruiting for its management with the arrival of Alexandre Prautzsch from Lombard Odier from 1 January, Agefi Switzerland reports.He will take responsibility for all private management activities, which he will work to build up as part of the bank’s onshore strategy. In this role, he will become a member of the board of directors. In his new role, Prautszch will develop the private banking product range from Piguet Galland & Cie, to create a wider range which will incorporate wealth management resources, retirement planning solutions, and a tax-efficient management approach.
14/01/2013

Guotai AM preparing ETF on Chinese govies

The Shanghai stock exchange will soon list the first local ETF to invest in Chinese government bonds, from Guotai Asset Management, the Börsen-Zeitung, reports, citing Bloomberg. The index replicated is reported to be a five-year government bond index.
14/01/2013

Retail investors return to equities

Flows into global-tracked equity funds hit a five year high during the first full week of January, according to estimates by EPFR Global, which does not give estimates of the proportion of this rebound driven by retail investors. Emerging market equity funds alone attracted a net USD7.39bn in the week ending on 9 January, EPFR Global reports.Fixed income funds, for their part, posted net inflows of USD6.54bn in the week to 9 January.Money market funds took in USD21.8bn in the week under review that took net inflows over the past 10 weeks close to the USD140 billion mark.
14/01/2013

Four WM advisers out of five are truly independent

Die Welt reports that the total number of independent financial advisers in Germany in 2012 was 519, compared with 517 in 2011 and 1,429 in 1999. Günter Schlösser, chairman of the VUV association of independent financial advisers, says that only 400 of these advisers are truly independent: the others are outsourced resources of banks or insurers.
14/01/2013

Convictions satisfied with its impact in Germany

Philippe Delienne, chairman and founder, has announced that Convictions Asset Management in 2012 had a very successful first year of activity in Germany, where only the wealth management fund Convictions Premium (EUR500m) currently has a sales license. The product has been well-received by a close circle of banks, family offices and platforms, Fonds Professionell reports.Philippe Weller, head of distribution for Germany, based in Paris, says that the ambition for Convictions is to improve the reputation of Convictions AM on the German market in the next two to three years, so as to make it one of the top three necessary interlocutors for investors seeking wealth management products. Weller has not ruled out opening an office in Germany in the near future, but that would depend on the general evolution of the business.
14/01/2013

Union buys nearly 1,400 housing units in Berlin

Union Investment Institutional Property is buying three residential complexes with a total of 1,384 housing units in Berlin for EUR87m, for one of its institutional real estate funds. The management of the portfolio and the properties will be undertaken by Dupuis GmbH & Co. Asset Managemetn KG.Christoph Schumacher, CEO of Union Investment Institutional Property, has announced that the firm currently still has about EUR120m in owners’ equity for new investments for its institutional funds.
14/01/2013

Assénagon recruits from Deka

Michael van Riesen, who for three years had been head of financial products for the savings banks at Deka, on 1 January joined the Munich-based asset management firm Assénagon Asset Management (EUR10bn in assets) as managing director and head of the Munich branch. He will be responsible for distribution of “new and innovative” products, and will work in the credit team, which was developed in August 2012, and which is led by Michael Hünseler, formerly of Bayerische HypoVereinsbank.
14/01/2013

Performance of pension funds tops 6% in 2012

Swiss pension funds saw a spike in their returns last year. Their average returns were 6.3%, following a 0% year in 2011, the Swiss association of retirement planning associations (ASIP) announced on 11 January. The evaluation of average returns for pension funds is based on asset allocations by participants as of 30 June 2012, extrapolated to the end of December 2012. For the second half of 2012, returns totalled 2.7%. This return shows that the financial situation for pension funds will improve slightly in the short term. However, a statement from the association warns, “this positive development should not create any illusions: complex interactions between various factors, such as the legal retirement age, the minimal required conversion rate, and returns earned in the short term, do not function completely independently of one another. At many pension funds, evaluation of pension liabilities is based on a relatively high technical interest rate – 3.5% – which necessitates a high return objective.” Equities performed better than bonds thanks to sustained pressure on interest rates. In first quarter, the proportion of Swiss equities as a part of investments was about 10% on average, while foreign equities were nearly 21%. In the past twelve years, since the first publication of comparison of results by the ASIP, median annual returns are 1.3%. This value is well below the necessary returns, and is below the minimal interest rate prescibed for this period, the association points out.
14/01/2013

Spain's March Gestiόn sets up shop in UK

The Spanish boutique March Gestiόn de Fondos (MFG) is about to enter the UK market, with the launch of three funds, Investment Week reports. The funds (Torrenova, The Family Businesses Fund and Vini Catena) are already registered in Luxembourg, and have shares denominated in pounds sterling.
14/01/2013

Third manager leaves Henderson

Simon Savill, small caps manager, has become the next to leave Henderson, FundWeb reports. The departure comes in addition to those of Bill Stormont and Paul Casson. Savill’s fund, Henderson European Smaller Companies Fund, is now managed by the European small caps team.
14/01/2013

Polar Capital increases assets

As of 31 December 2012, Polar Capital’s AUM have increased by 18% to USD6.02bn from the USD5.08bn reported at 31 March 2012 and have increased by 42% from the figure of USD4.24bn reported at 31 December 2011.In the nine months to 31 December 2012, long-only funds saw an inflow of USD842m, while hedge funds saw an inflow of USD81m.Total AUM in long-only funds was USD5.2bn at the end of last year, and USD833m in hedge funds.
14/01/2013

"Nous devrions nous imposer comme un acteur de référence de la gestion multi-actifs sur le marché français"

Michael Sfez, qui a lancé au printemps dernier une société de gestion de portefeuille à Paris, Russell Investments France, présente pour Newsmanagers un premier bilan de ses activités. Avec des encours de 400 millions d'euros en moins d'un an, la nouvelle entité est partie du bon pied et Michael Sfez entend bien s'imposer dans le paysage hexagonal comme un acteur de tout premier plan dans les prochaines années
14/01/2013

Industries & Finances réalise un premier closing pour son troisième fonds

Industries & Finances Partenaires annonce le premier closing de son nouveau fonds, à hauteur de 60 millions d’euros. Ce premier tour de table, réalisé moins de 6 mois après le lancement d’Industrie & Finance Investissements 3, est abondé à hauteur de 85% par des investisseurs déjà présents dans le fonds précédent. Environ la moitié des sommes levées proviennent d’investisseurs internationaux. Parmi les principaux souscripteurs du fonds, se trouvent notamment CDC Entreprises, CNP Assurances et Idinvest dans le cadre de leurs actions au titre du programme FSI France Investissement ainsi que Malakoff-Médéric, Akina, et un Family Office belge.
14/01/2013

Rome mandate cinq banques pour une nouvelle émission BTP à 15 ans

Le Trésor italien a annoncé avoir mandaté cinq banques pour procéder à l'émission d’une nouvelle d’obligation BTP à 15 ans, qui arrivera à échéance le 1er septembre 2028. Les cinq banques sont Banca IMI, Barclays Bank, Crédit Agricole, Goldman Sachs et JPMorgan Securities. L'émission sera lancée prochainement, en fonction des conditions de marché, a précisé le Trésor.
14/01/2013

CVC et RBS s’allègent dans Samsonite

CVC Capital Partners et Royal Bank of Scotland ont selon un document boursier consulté par Reuters poursuivi leur désengagement du capital du fabricant de bagages, introduit en 2011 à Hong Kong. Leurs parts sont ramenées à respectivement 9,7 et 5,1% après une opération leur ayant rapporté l’équivalent de 215 millions d’euros.
14/01/2013

Terra Firma cherche à céder deux sociétés énergétiques

La société d’investissement fondée par Guy Hands compte tirer 1,7 milliard de livres de la vente de Phoenix, un distributeur de gaz en Irlande du nord, et d’Infinis, une société britannique spécialisée dans l’énergie verte. Deutsche Bank et Credit Suisse ont été mandatées pour refinancer la dette avant une cession ou une cotation, indique le Sunday Times.
14/01/2013

Hellman & Friedman s’intéresse à Trader Media

Le Telegraph avance que le fonds a contacté Apax Partners en vue de lui racheter sa participation dans le groupe de petites annonces qui détient notamment Autotrader.co.uk. Et d’après le Sunday Times, KKR serait également sur les rangs avec une offre potentielle de 2,9 milliards de dollars.

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