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09/12/2011

Promotion pour Bill Davies chez Threadneedle

Jeremy Podger, head of global equities, ayant quitté l’entreprise pour aller chez Fidelity sous les ordres de son ancien chef Dominic Rossi (global CIO for equities), Threadneedle (71,9 milliards d’euros d’encours à fin septembre) a nommé William Davies pour lui succéder.Ce dernier dirigeait depuis 1999 l'équipe de gestion d’actions européennes. Il sera maintenant chargé de développer la gestion actions «monde» particulièrement sur les marchés internationaux.William Davies, qui a rejoint Threadneedle dès sa création en 1994, sera directement subordonné à Leigh Harrison, head of equities.Jeremy Podger prendra en charge le Global Special Situations fund de Fidelity dont les actifs sous gestion s'élèvent à 1,5 milliard de livres. Le gérant actuel du fonds, Jorma Korhonen, va quitter Fidelity. Le nouvel arrivant travaillera en étroite collaboration avec Richard Lewis, le responsable récemment nommé du pôle actions internationales.
09/12/2011

Paul McLaughlin rejoint State Street Alternative Investment

Paul McLaughlin a rejoint State Street Alternative Investment Solutions à Guernesey, où il est désormais head of operations, rapporte Hedgeweek. Sa mission est de renforcer l’activité de services en investissements alternatifs offerts aux clients basés en Europe, au Moyen Orient et en Afrique (EMEA), notamment les fonds de private equity et les fonds immobiliers. L’intéressé travaillait auparavant chez BNY Mellon à Dublin, où il occupait un poste similaire.
09/12/2011

Fidelity recrute chez Threadneedle

Le patron des actions internationales chez Threadneedle, Jeremy Podger, a quitté la société pour rejoindre Fidelity en tant que gérant senior dans l'équipe dédiée aux actions internationales, rapporte Investment Week.Il va prendre en charge le Global Special Situations fund dont les actifs sous gestion s'élèvent à 1,5 milliard de livres. Le gérant actuel du fonds, Jorma Korhonen, va quitter Fidelity. Il travaillera en étroite collaboration avec Richard Lewis, le responsable récemment nommé du pôle actions internationales.
09/12/2011

Carsten Maschmeyer démissionne du conseil de Swiss Life

Ayant décidé de réduire sa participation dans Swiss Life Holding à moins de 3 % contre 5,05 % actuellement, Carsten Maschmeyer, le fondateur du prestataire allemand de services financiers AWD Holding, a démissionné le 7 décembre avec effet immédiat de son poste d’administrateur de Swiss Life Holding auquel il avait été élu en 2009.Il précise dans un communiqué qu’il veut ainsi épargner Swiss Life et AWD des attaques personnelles infondées dont il est l’objet. Carsten Maschmeyer insiste notamment sur le fait que sa démission et la vente de titres mettront fin aux rumeurs selon lesquelles il exercerait une influence directe sur l’activité opérationnelle d’AWD.La PME allemande GCI Industrie AG a pour sa part annoncé le 8 décembre que Carsten Maschmeyer a franchi les seuils de 3 et 5 % de son capital, au lendemain de la cession d’une partie de ses actions Swiss Life Holding. La transaction a été effectuée par l’intermédiaire du gestionnaire de fortune Paladin Asset Management.
09/12/2011
Fonds

Dubai IG transfère son immobilier à Mark Walsh

Dubai Investment Group ferme son bureau de New York et transfère le contrôle de son portefeuille immobilier de 1,1 milliard de dollars à une société de private equity dont Mark Walsh est le co-fondateur, rapporte The Wall Street Journal. Mark Walsh est l’ancien directeur général du pôle immobilier de Lehman Brothers.
Fonds
09/12/2011
Fonds

Le taux de couverture des fonds de pension retrouve des couleurs

En novembre, le taux de couverture des fonds de pension américains s’est légèrement amélioré, enregistrant un gain de 0,3 point de pourcentage à 75,1%, selon les statistiques communiquées par BNY Mellon Asset Management.Depuis le début de l’année, le taux de couverture accuse néanmoins un recul de dix points de pourcentage.
Fonds
09/12/2011
Fonds

Le Vice Fund s'ouvre aux conseillers financiers

Jerry Szilagyi, président de Vice advisor USA Mutuals a confirmé à Mutal Fund Wire le lancement avant la fin décembre de deux nouvelles classes (A et C) de son Vice Fund, dédiées aux conseillers financiers. La société devrait également bientôt renforcer son équipe de distribution, afin de se développer auprès de cette clientèle, note l’article.
Fonds
09/12/2011

Barings renforce son équipe multi-classes d'actifs

L'équipe multi-classes d’actifs Amérique du Nord de Barings, dirigée à Boston par Hayes Miller, a recruté Matthew Whitbread comme investment manager. Il quitte Fundquest Inc, filiale de BNP Paribas, où il était gérant de portefeuille avec une responsabilité dans le domaine de l’allocation d’actifs.L'équipe multiclasses d’actifs de Barings, qui a été constituée en 2002, comporte huit gérants de portefeuille et deux analystes ; elle gérait fin octobre 5,7 milliards de livres.
09/12/2011
Fonds

State Street GA prépare un site éducatif sur les ETF

State Street Global Advisors prévoit de lancer un site éducatif sur les ETF, destiné aux investisseurs individuels, a annoncé Jim Ross, responsable mondial des ETF de la société. Il sera accessible à l’adresse www.SPDRETFFactorFiction.com. Le site a pour objectif de disperser un certain nombre de malentendus au sujet des ETF.
Fonds
09/12/2011

Lyxor AM va aider CalSTRS à développer sa stratégie global macro

Le fonds de pension California State Teachers’ Retirement System (CalSTRS, 148,2 milliards de dollars d’encours fin octobre) des enseignants de Californie a annoncé avoir sélectionné Lyxor Asset Management Inc comme conseiller pour le développement d’une nouvelle stratégie s’appuyant sur des hedge funds global macro. Le mandat a été attribué au terme d’un processus de 15 mois et comporte une phase probatoire de trois ans maximum.Parmi les missions qui lui sont confiées, Lyxor (groupe Société Générale) devra assister les professionnels de l’investissement de CalSTRS dans le développement, le suivi et la mise à jour des politiques d’investissement, des procédures et des structures du programme pour la stratégie. La filiale américaine de la maison française devra aussi mettre en place une stratégie de recherche de gérants hautement qualifiés et mener la due diligence sur les candidats. De plus, Lyxor devra mener des évaluations régulières des gérants et des comptes, identifier les problèmes et préparer un reporting trimestirel pour le comité d’investissement de CalSTRS.
09/12/2011
Fonds

SSgA veut lancer ses ETF actifs en 2012

Jim Ross, responsable mondial des ETF chez State Street Global Advisors a indiqué à Mutual Fund Wire que la société espère lancer ses premiers ETF gérés activement en 2012. La première salve de lancement devrait consister en 5 à 6 nouveaux produits, introduits sur le marché au cours des premiers mois de l’année . SSgA est le second plus important promoteur d’ETF après iShares (BlackRock).
Fonds
09/12/2011

Russell recrute chez S&P

Michael Gallucci, qui a passé 16 ans chez Standard & Poor’s, en dernier lieu comme senior sales director de S&P Index Services, a rejoint fin novembre Russell Investments. Il vient d’y être nommé directeur régional pour les produits structurés et la redistribution de données aux clients sell-side pour les Etats-Unis.L’intéressé aura pour mission de développer les activités de distribution aux Etats-Unis des produits Russell Indexes, notamment avec les nouveaux produits qui viendront s’ajouter aux benchmarks traditionnels et aux produits sur mesure.Michael Gallucci sera subordonné à Mark Sutter, director of US Sales pour les indices Russell.
09/12/2011
Fonds

Global X lance deux ETF sur les nouveaux indices du Nasdaq

Le new-yorkais Global X Funds (1,4 milliard de dollars d’encours fin octobre) a annoncé le lancement d’un ETF sur le Nasdaq 500 est le (acronyme QQQV) et sur le Nasdaq 400 (QQQM), pour les moyennes capitalisations. Il s’agit des premiers produits répliquant ces nouveaux indices du marché Nasdaq.Le Global X NASDAQ 500 ETF (US37950E3909) est chargé à 0,48 %, tout comme le Global X NASDAQ 400 Mid Cap ETF (US37950E3826).
Fonds
09/12/2011
Gestion d'actifs

La CAPAV est en train de réfléchir à une baisse de son exposition à l'immobilier

La CAPAV, Caisse de Retraite Paritaire de l’Artisanat du Bâtiment du Canton du Valais, (550 millions de Francs Suisses) est actuellement en train de réfléchir à une baisse de son exposition à l’immobilier. Le gérant du Fonds craint une hausse des taux d’intérêt et une bulle immobilière. Le Fonds détient de l’immobilier direct mais utilise aussi 13/14 fonds immobiliers. Les gérants de la Caisse veulent garder les plus liquides. D’un point de vue tactique, le régime a réduit son exposition aux actions en juin, août et octobre de cette année, de 35% à 13% des actifs du Fonds. Ces actifs sont transférés vers du cash. Depuis décembre 2010, la stratégie d’investissement est la suivante : 18% d’actions Suisses, 14% d’actions étrangères, 18% en obligations en devises étrangères, 14% d’obligations en Francs Suisses, 15% en immobilier direct, 15% en immobilier indirect, 6% en alternatifs (3% hedge funds, 1% matières premières et 2% d’autres actifs). La Banque Cantonale du Valais (BCV) a un mandat d’actions suisses, tandis que le reste des actifs est géré en interne et via des fonds.
Gestion d'actifs
09/12/2011

ADIA recruits at Westerner as head of alternative management

Ben Weston, who for the past three years has been CEO of Helvetica Wealth Management Partners (a joint venture of Credit Suisse and the Emirate of Qatar), and who has also been CEO of Merrill Lynch Alternative Investments (USD26bn in assets, 2005-2008), has joined the sovereign fund Abu Dhabi Investment Authority (ADIA) as global head of alternative investments. He will report to Khalifa Almheiri, executive director of the alternative investment department.
09/12/2011

Aquila Capital plans to develop in Benelux and Scandinavia

The Hamburg-based alternative management firm Aquila Capital has recruited Oldrik Verloop as director of development. The objective is to develop the firm’s presence in Benelux and Scandinavia. Verloop had previously been one of the directors of development at the Swiss bank Wegelin & Co, where he set up a strategy to enter the institutional markets in Benelux and Scandinavia.
09/12/2011

Bilfinger to launch an infrastructure fund on 21 December

According to the Börsen-Zeitung, subscriptions to the Luxembourg-registered Bilfinger Berger Global Infrastructure Sicav SA will be permanently closed on 13 December, and an initial listing of the fund on the London Stock Exchange will take place on 21 December (see Newsmanagers of 20 September). Initially, the investment had been planned for first quarter 2012.The amount invested in the fund is expected to total EUR250m. The German firm Bilfinger Berger will retain a 19.9% stake in the portfolio, which includes 19 construction projects ranging from schools in the United Kingdom, a high security prison in Germany, and highways in Canada. Compared with the initial plans for the fund, the performance objective has been lowered from 6% to 5.5%.
09/12/2011

DWS adds to emerging markets equities team

Hian-Boon Tay, who had been a member of the portfolio management team at the Singapore sovereign fund GIC since 1993, has joined the emerging markets team at the German asset management firm DWS Investments, with a staff of 40, 25 of whom are in Frankfurt. He will join the equity team (28 members). All emerging markets management is directed by Andreas Römer, with assets of about EUR15bn. The new recruit had been in charge of an absolute return equity fund with assets of several billion euros at GIC.
09/12/2011

Bethmann Bank completes acquisition of LGT Bank Deutschland

After two months, Bethmann Bank (ABN Amro group) has received the necessary authorisation from the Federal Office of Cartels and BaFin to finalise its acquisition of LGT Bank Deutschland (EUR2bn in AUM).The supervisory board at Bethmann Bank has appointed Roland Schubert as a board member, effective from 8 December. Bethmann had been CEO for private banking activities in Germany at LGT.After the transaction, assets at Bethmann Bank will total EUR19bn.
09/12/2011

Natixis Global Asset Management finalises partnership with IDFC

As initially announced on 17 December 2010 (see Newsmanagers of 20 December 2010), the Indian infrastructure specialist financial group IDFC and Natixis Global Asset Management (NGAM) on 8 December officially finalised a strategic partnership for their collective asset management activities. The two entities have announced the acquisition of a 25% stake in the capital of IDFC Asset Management Company (IDFC AMC) and ADFC AMC Trustee Company by NGAM. IDFC AMC is the asset management firm for IDFC Mutual Fund, and the platform dedicated to retail and institutional investors for the IDFC group. The partnership will allow NGAM to strengthen its presence in Asia, where the asset management firm is already present in Japan, Taiwan, Singapore, and China. “This agreement represents a significant step in the realisation of our strategic objectives of diversifying our international activities and strengthening our presence in Asia,” Pierre Servant, CEO of NGAM, says in a statement. “By joining forces with IDFC AMC, we are extending our range of expertise and extending our presence to India, which is a dynamic emerging economy with a rapidly-growing base of retail investors seeking innovative and international investment opportunities.” The agreement also allows IDFC AMC to offer Indian investors access to international investment opportunities via asset management products from NGAM. Under the agreement, the firm may also access global investors who may be seeking to profit from the growth of the Indian economy by investing on the Indian stock markets. As of 30 September 2011, IDFC Asset Management Company Ltd had assets under management of USD5.6bn. Assets at Natixis Global Asset Management on that date totalled EUR525bn.
09/12/2011

Losses at MF Global may mean gains for Soros

The family of George Soros has bought up about USD2bn in European bonds previously held by MF Global Holdings, sources familiar with the matter have told the Wall Street Journal.The bonds in question are precisely the short-term European government bonds, largely from Italy, which drove MF Global to file for bankruptcy protection on 31 October. Under the direction of CEO Jon S. Corzine, MF Global had accumulated USD6.3bn in European government debt.
09/12/2011

Torch to be passed at LCF Rothschild

Following a meeting of the supervisory board on 8 December, La Compagnie Financière Edmond de Rothschild (LCF Rothschild) has announced that its 2001 results will be on a par with its 2010 results, “which is a good performance” in a difficult financial and economic environment. Michel Ciurel has announced that he plans to leave his position as chairman of the board in September 2012, after 13 years at the head of the company. As planned three years ago, after the installation of Marc Lévy and Marc Samuel, Guy Grymberg, CEO, will be leaving the firm at the same time as Cicurel. LCF Rothshild says that under the leadership of Cicurel and Grymberg, its assets and profits have been multiplied by a factor of seven. As desired by Benjamin de Rothschild, the two men will assist the supervisory board in arranging for their succession.
09/12/2011

Former MF Global chief pleads ignorance

“I simply don’t know where the money is, or why the accounts were not kept current,” John Corzine, former chairman and CEO of the bankrupt broker MF Global, declared on Thursday at a House of Representatives committee hearing. At the hearing, Corzine testified that his knowledge of specific transactions involving client funds was limited, Agefi reports.
09/12/2011

Dubai IG transfers real estate to Mark Walsh

Dubai Investment Group is closing down its New York office and transferring control of its USD1.1bn real estate portfolio to a private equity firm co-founded by Mark Walsh, the Wall Street Journal reports. Walsh is the former head of the real estate unit at Lehman Brothers.
09/12/2011

Barings adds to multi-asset class team

The North American multi-asset class team at Barings, led by Hayes Miller in Boston, has recruited Matthew Whitbread as investment manager. He has left Fundquest Inc, an affiliate of BNP Paribas, where he had been portfolio manager, with responsibility for asset allocation.The multi-asset class team at Barings, which was created in 2002, includes eight portfolio managers and two analysts; as of the end of October, it managed GBP5.7bn.
09/12/2011

Lyxor AM to help CalSTRS to develop global macro strategy

The California State Teachers’ Retirement System (CalSTRS, USD148.2bn in assets as of the end of October) has announced that it has selected Lyxor Asset Management as its advisor for the development of a new strategy based on global macro hedge funds. The mandate was awarded following a 15-month process, and includes a trial period of up to three years. Among the responsibilities that will be assigned to Lyxor (Société Générale group) are assisting investment professionals at CalSTRS to develop, monitor and update investment policies, procedures and programme structures for the strategy. The US affiliate of the French asset management firm will also set up a strategy to identify highly qualified managers, and to undertake due diligence on the candidates. In addition, Lyxor will undertake regular evaluations of managers and accounts, identify problems, and undertake quarterly reporting for the investment committee at CalSTRS.
09/12/2011

Sodexo, Gecina and Fiat join Vigeo ASPI index

Three shares have been added to the ASPI Eurozone index: Sodexo, Gecina and Fiat, the ASPI committee announced on 8 December, following its annual revision of the index. The ASPI Eurozone® index includes the 120 best-rated companies in the euro zone on the basis of Vigeo ratings. Meanwhile, three shares have been removed from the ASPI index: Dexia, Rautarukki, and Brisa. The changes in the composition of the index will be applied after the end of the trading day on Friday, 16 December 2011, and will take effect form the beginning of the following trading day.
09/12/2011

Russell recruits at director from S&P

Michael Gallucci, who has spent 16 years at Standard & Poor’s, most recently as senior sales director at S&P Index Services, joined Russell Investments in late November. He has been appointed regional director for structured products and data redistribution to sell-side clients for the United States. Gallucci will be in charge of developing distribution activities in the United States for Russell Indexes products, including new products which have recently been added to the line of traditional benchmarks and custom products. Gallucci will report to Mark Sutter, director of US Sales for Russell indices.
09/12/2011

Carsten Maschmeyer resigns from board at Swiss Life

Carsten Maschmeyer, founder of the German financial services provider AWD Holding, on 7 December resigned with immediate effect form his position as director of Swiss Life Holding, a position he was elected to in 2009, following a decision to reduce his stake in Swiss Life Holding to less than 3% from 5.05% currently. Maschmeyer says in a statement that he is also hoping to spare Swiss Life AWD from the unfounded personal attacks he has been subject to. Maschmeyer is hoping that his decision to resign and sell shares in the firm will put an end to rumours that he had had a direct influence on operational activities at AWD. The German SMB CGI Industrie AG, for its part, announced on 8 December that Maschmeyer has increased his stake in its capital above the 3% and 5% thresholds, the day after a sale of some of his shares in Swiss Life Holding. The transaction was processed via the wealth manager Paladin Asset Management.
09/12/2011

SSgA to launch actively-managed ETFs in 2012

Jim Ross, global head of ETFs at State Street Glboal Advisors, has told Mutual Fund Wire that the firm is planning to launch its first actively-managed ETF products in 2012. The first round of launches may include 5 or 6 new products, which will be launched on the market in the first few months of the year. SSgA is the second-largest ETF provider, after iShares (BlackRock).

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