According to multiple sources cited by the weekly Agefi Hebdo, the wholesale bank from BPCE will merge its affiliates Natixis Multimanager (NMM) and 1818 Gestion, as part of a project entitled “Elite.” On 1 January 2013, 1818 Gestion will absorb NMM, currently a part of Natixis Asset Management (NAM). NAM will control 40% of the new entity, compared with 60% for Banque Privée 1818, an internal presentation obtained by Agefi Weekly says. The firm will include the expertise of the Natixis group in multi-management, a sector in crisis, including funds of hedge funds.

BNY Mellon has named Marina Lewin head of sales for its Asset Servicing business in the Americas. Lewin will report to Samir Pandiri, CEO of Americas Asset Servicing & Alternative Investment Services. She will be based in New York, managing teams in several U.S. cities, as well as Dublin, London and Hong Kong.

The planned merger of the asset management structures of AG2R-La Mondiale, Agicam et La Mondiale Gestion d’Actifs, or LMGA (see Newsmangers of 24 October) and the creation of a single portfolio management firm will be likely to result in the emergence of a multi-management entity of respectable size, with EUR4bn in assets currently, half contributed by each of the two participating entities.Rationality is also expected to be maintained with the emergence of a single investment management team.

Assets under management at the asset management unit of the AXA group are up by EUR52bn as of the end of Sepemer compared with 31 December 2011, to a total of EUR899bn, the group announced in a statement on 25 October.Net outflows totalled EUR8.3bn, including:-EUR8.4bn from AllianceBernstein, largely from the institutional segment;-EUR0.1bn in flows to AXA IM, largely due to positive net inflows to AXA Fixed Income, AXA Private Equity, AXA Real Estate and AXA Framlington, partly offset by net outflows, primarily following a voluntary withdrawal from unprofitable employee shareholding schemes (-EUR4.0bn), and net ourflows from Axa Rosenberg (-EUR2.0bn).Market evolution represented +EUR63bn, at AXA IM as well as AllianceBernstein, proportionately on the basis of asses, whiel currency effects totalled +EUR8bn, primarily due to depreciation of the euro compared with major currencies.In addition to this, a perimeter effect of -EUR11bn, primarily due to a transfer of assets from Friends Provident following the sale to Resolution of life insurance activities in the United Kingdom, the sale of Canadian activities and the sale of activities in Australia and New Zealand.Earnings for the asset management unit are down 6%, to EUR2.46bn, largely due to a decline in management commissions at AllianceBernstein, relecting a decline of 3.9 basis points on average and a delcine in assets under management. Earnings at AXA IM are stable, as a rise in management commissions was offset by a decline in commissions on real estate transactions and performance commissions.

Natixis Asset Management (Natixis AM) on 24 October announced that it has signed a research agreement with the Cambridge Programme for Sustainability Leadership (CPSL) to promote sustainable investment and to encourage adoption of more responsible bahaviour by finance professionals in Europe and internationally. The partnership will have two levels. The first will be an active collaboration based on research, with nine joint publications over the next three years. These reports will analyse sustainable development challenges: how climate change is taken into account, how biodiversity and human rights can affect current business models and promote the generation of investment ideas. Analysts at Natixis AM and Cambridge academics will work together on concrete problems to formulate recommendations for sustainable investment. The reports will be made public in order to encourage the adoption of better practices. The second level of collaboration will take the form of a working group entitled Investors Leaders Group, based at CPSL, and led by Philippe Zaouati, deputy CEO and head of the responsible investment expertise unit at Natixis AM. The group, composed of directors and financial market experts, will meet for the first time next year. The objective will be to work to define concrete tools and measures to adopt to promote and deploy responsible investment.

Warrenn Buffett has announced that he is “salivating” at the idea of spending some of his USD40bn in cash on a major acquisition, after revealing that two USD20bn operations fell through this year due to disagreements over price, the Financial Times reports.

The US asset management firm AllianceBernstein LP, with total assets of USD418.9bn as of the end of September, with net outflows totalling USD44bn in July-September, has posted an operating loss for third quarter of USD56m, compared with profits of USD79m in second quarter 2012, and USD78m in the corresponding period of last year (see Axa results elsewhere in today’s Newsmanagers).

The State Street group on 24 October announced that it has been awarded a mandate by UTI International (Singapore) Private Limited to provide custody and fund administration services for its UCITS-compliant product range investing in India.UTI International (Singapore) Private Limited is an asset management firm regulated by the Singapore market authority. It is an affiliate of the Indian asset management firm UTI AMC, with assets under management of USD2.6bn.

John Paulson and his charity have given USD100m to Central Park in New York, the largest donation in the history of the park, the Financial Times reports. The personal wealth of the famous hedge fund manager is estimated at USD11bn, according to Forbes. Paulson is also a supporter of Mitt Romney.

Adam Smears, head of investment research at Skandia, has left the firm to pursue other opportunities, Investment Week reports. He had been working at the firm since 2003. Old Mutual Global Investors has also announced that Anthony Gillham has been appointed as the sole manager of the Skandia Strategic Bond fund.

Ten Carmignac Gestion funds are now available via the UK Novia platform. These funds are made accessible to IFAs for the first time via a UK wrap platform. Carmignac Gestion recently registered these RDR-ready sterling share classes which are now on the Novia platform:•Carmignac Investissement I GBP acc•Carmignac Investissement D GBP inc •Carmignac Grande Europe I GBP acc•Carmignac Grande Europe D GBP inc •Carmignac Emergents I GBP acc•Carmignac Emergents D GBP inc •Carmignac Emerging Discovery I GBP acc •Carmignac Commodities I GBP acc •Carmignac Patrimoine I GBP acc•Carmignac Patrimoine D GBP inc •Carmignac Emerging Patrimoine I GBP acc•Carmignac Emerging Patrimoine D GBP inc •Carmignac Market Neutral I GBP acc •Carmignac Global Bond I GBP acc•Carmignac Global Bond D GBP inc •Carmignac Cash Plus I GBP acc

The head of strategic alliances at Aviva Investors, Malcolm Mackenzie, will be leaving the firm as part of a reconstruction of the sales team, Fund Web reports. A head of sales, Nick Hendy, will also be leaving. Earlier this year, Aviva Investors announced that it is laying off 160 employees worldwide, including the closure of the European, emerging markets, international and IRS equities desks.

Nicola Muirhead, a former manager at Neptune Investment Management, has joined River and Mercantile Asset Management as an analyst in the gloal equity division led by Alex Stanić. At Neptune, which she joined in 2008, she was an analyst specialised in the mining sector and a manager. Among others, she managed the UK Alpha fund, which was closed due to a lack of assets. Muirhead will be the fifth member of the team founded n 2009, following the recruitment of Stanić and Alex O’Reilly from Newton. R&M has GBP2.7bn in assets under management.

Old Mutual Global Investors, born of the merger of Old Mutual Asset Managers (UK), or OMAM, and Skandia Investment Group (SIG), with assets of GBP13bn as of 30 September, has unveiled its growth strategy, which is based on “active expansion” of its direct asset management capacities.The new entity will rely on the distribution capacities of Old Mutual Wealth, its parent company, which is a specialist in wealth management solutions, while strongly developing its third-party distribution via IFAs, wealth managers, and banks, via strengthened relationships with platforms in the United Kingdom and internationally.The core driver of growth will be investment in areas an asset classes in which new product ranges can be envisioned, whie extending existing areas of expertise. To extend its range, Old Mutual GI has “significantly invested” in scaling up its capacities in product development.The new logo has been adopted, and the new brand will be gradually rolled out throughout 2013, starting in first quarter.Meanwhile, the asset management firm, whose activities are divided into four units (equities, fixed income, alternative and multi-management) has unveiled the composition of its top management:– Julian Ide, Chief Executive Officer– James Millard, Director of Investments– Ashton Bradbury, Head of Equities– Stewart Cowley , Head of Fixed Income– Paul Simpson, Head of Alternatives– John Ventre, Head of Multi-Manager– Paul Nathan, Chief Operating Officer– Mitchell Dean, Chief Financial Officer– Warren Tonkinson, Head of Distribution– Celeste Dias-Brennan, Head of Product– Marcus Bolitho, Head of Marketing– Karen Barnett, Head of Human Resources

Assets under management at Rathbone Brothers (“Rathbones”) as of the end of September totalled GBP17.4bn, up 9.5% compared with the end of December 2011, according to statistics released on 24 October. Operating profits rose 6.7% in the first nine months of the year, to GBP116m. Rathbones states, however, that net inflows slowed to 5.5% over nine months, compared with 8.2% last year.

The wealth management firm Quilter has confirmed to FundWeb that it is about to acquire Cheviot Asset Management.The private equity group Bridgepoint, which acquired Quilter earlier this year, will facilitate the merger of the two entities specialised in wealth management, with assets under management of about GBP12bn.The sale price is said to be less than GBP100m.

As of 30 September, total assets at 3,866 Luxembourg funds came to EUR2.314448trn, compared with EUR2.295399trn one month earlier, and EUR2.296717trn as of the end of August, according to statistics from the CSSF. Assets under management in specialised investment funds (SIF) represented EUR10.715bn.

Dans le cadre de sa politique d'élargissement de son univers d’investissement et en conformité avec les cinq valeurs de sa charte ISR, l’Etablissement de retraite additionnelle de la fonction publique (ERAFP) vient d’attribuer 2 mandats actifs et 4 mandats stand-by de gestion financière. L’ERAFP a lancé en février 2012 un appel d’offres restreint, composé de deux lots, dont l’objet est l’attribution de mandats d’obligations convertibles sur la zone Europe, avec la possibilité d’investir jusqu'à 20% hors d’Europe, et sur la zone Monde. A l’issue de la procédure de sélection, l’ERAFP a décidé d’attribuer le lot n°1, Obligations convertibles de la zone Europe - gestion ISR non benchmarkée, à la société Schelcher Prince Gestion. Acropole AM et Natixis Asset Management sont les gérants suppléants. Le lot n°2, Obligations convertibles de la zone Monde - gestion ISR non benchmarkée a lui été attribué à la société Lombard Odier Gestion. BNP Paribas Asset Management et Fisch Asset Management sont les gérants suppléants. Pour l’ensemble des lots, la composition du portefeuille décidée par l’entreprise d’investissement sélectionnée devra être conforme au dispositif ISR de l’ERAFP. Pour cela l’entreprise d’investissement devra analyser chaque obligation convertible de son portefeuille et de l’indice utilisé comme univers pour l’application du principe de best in class au regard du dispositif ISR de l’ERAFP par ses propres moyens et/ou en s’appuyant sur des ressources externes. Les montants investis estimés à un horizon de trois ans sont de l’ordre de 80 millions d’euros sur la zone Europe et 130 millions d’euros sur la zone Monde. La durée initiale du marché est de quatre ans avec la possibilité pour l’ERAFP de reconduire le marché pour deux périodes successives de deux ans chacune.

Skandia a décidé de changer de banque dépositaire pour ses produits Choice Plans. C’est la banque Zweiplus qui remplacera la banque Lienhardt & Partner, précise Finews.

Au terme du troisième trimestre, le bénéfice net de comdirect bank (groupe Commerzbank), avait diminué de 6,3 % par rapport à janvier-septembre 2011 pour revenir à 53,93 millions d’euros.Les encours administrés se situaient au 30 septembre à 47,91 milliards d’euros contre 39,40 milliards un an plus tôt, tandis que ceux de la plate-forme B2B (ebase) ressortaient à 20,62 milliards d’euros contre 15,20 milliards.

Le gestionnaire hambourgeois Aquila Capital (80 personnes, 4,1 milliards d’euros d’encours)a recruté l’Américain Stuart MacDonald comme managing director dans son équipe institutionnelle. L’intéressé, qui connaît particulièrement bien le marché britannique, a travaillé pour Gems Advisors, Henderson Global Investors, West Merchant Bank et Buchanan Partners.Il sera subordonné à Roland Schultz, managing director.

Le Trésor britannique a donné son accord de principe à l’Assemblée écossaise pour qu’elle puisse émettre ses propres obligations à condition d’avoir assez de recettes pour les financer. Les fonds ainsi récoltés serviraient à financer des projets d’infrastructure. «C’est une étape importante de plus sur le chemin du transfert des pouvoirs au peuple écossais, elle leur apportera des avantages significatifs», a souligné le secrétaire en chef au Trésor Danny Alexander.

L’opérateur boursier britannique a émis 300 millions de livres d’obligations 4,75% à neuf ans par le biais de son service de négoce électronique «Order Book for Retail Bonds» (ORB). Cette opération porte le montant total des fonds levés sur l’ORB, depuis sa création il y a deux ans, à plus de 2,5 milliards de livres. Pour le LSE, il s’agissait de la première offre obligataire à destination des investisseurs particuliers.

Le nouveau programme de rachats de titres de la Banque centrale européenne ne compromettra pas son indépendance et n’alimentera pas l’inflation, a déclaré mercredi le président de la BCE Mario Draghi aux parlementaires allemands. Au contraire, l’objectif du programme est «d’envoyer un signal clair aux investisseurs pour leur dire que leurs craintes sur la zone euro ne sont pas fondées». La BCE, qui a présenté son plan d’OMT en septembre, n’a pour l’instant lancé aucune opération d’achat.

L’activité manufacturière aux Etats-Unis a légèrement progressé en octobre, mais le contexte d’incertitude économique et de faible croissance devrait toutefois peser sur le secteur au cours des derniers mois de l’année, a montré une enquête Markit des directeurs d’achats. Le chiffre final livré par Markit est ressorti à 51,3 pour le mois d’octobre, en estimation flash, contre 51,1 en septembre et 51,5 attendu par le consensus.

Standard & Poor’s a confirmé mercredi maintenir la note de crédit maximale, AAA, à la dette souveraine suédoise avec une perspective stable. L’agence de notation souligne que le pays scandinave a une situation financière saine et qu’il bénéficie toujours d’une croissance économique soutenue. S&P explique s’attendre à ce que les fondamentaux du crédit souverain suédois restent stables et continuent de refléter la flexibilité de la politique économique du pays.

Les bailleurs de fonds internationaux de la Grèce lui ont accordé un délai supplémentaire pour atteindre ses objectifs budgétaires, a déclaré mercredi le ministre grec des Finances aux députés. La Grèce cherchait à obtenir un délai de deux ans pour mettre en œuvre son programme d’ajustement budgétaire destiné à atténuer l’impact des nouvelles mesures d’austérité réclamées par l’Union européenne et le FMI dans le cadre d’un second plan d’aide de 130 milliards d’euros.

Le gouvernement a indiqué mercredi que 8 à 9 milliards d’euros de financements seraient disponibles pour des projets d’infrastructure en France grâce au Pacte de croissance européen. La reprogrammation des fonds structurels, l’augmentation du capital de la Banque européenne d’investissement et la mise en place de «project bonds» vont y contribuer.

Les ventes de logements neufs aux Etats-Unis ont bondi de 5,7% en septembre, à leur rythme le plus élevé depuis près de deux ans et demi, signalant une accélération de la reprise du marché de l’immobilier. Selon les chiffres du département du Commerce, les ventes sont ressorties en hausse de 5,7% à un volume annuel CVS de 389.000 unités, un plus haut depuis avril 2010, contre 368.000 (révisé de 373.000) en août.

Après un partenariat de 4 ans, BNP Paribas Real Estate vient d’acquérir son alliance néerlandaise, Holland Realty Partners, basée à Amsterdam. Cette société est présente sur l’ensemble des Pays-Bas en Transaction Investissement, Conseil, Expertise et Asset Management en immobilier d’entreprise.