Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
09/09/2010

DWS recruits a former Van Kampen manager

p { margin-bottom: 0.08in; } DWS Investments on Wednesday announced the recruitment of Michael Hughes as director and senior account manager. He will be in charge of relations with banking and broker-dealer clients in the United States, national and regional. Hughes will be based in Chicago, and will report to Michael Woods, managing director, CEO and US head of distribution at DWS Investments Distributors Inc. Hughes was executive director in national accounts at Van Kampen, a retail asset management firm which was sold off in late October by Morgan Stanley to Invesco (see Newsmanagers of 20 October 2009). He had responsibility for the same activities which he will now direct at DWS.
09/09/2010

Bank Linth private banking led by Luc Schuurmans

p { margin-bottom: 0.08in; } Bank Linth LLB on 8 September announced the appointment of Luc Schuurmans as a new member of its board, effective from 1 January 2011. On this date, the new director will take over as head of the newly-created Private Banking sector, with a team of five advisors. The direction of the four regions, 23 affiliates and four teams of client advisors will continue to be assured by David Sarasin, with the new title “private and business clientele.” Schuurmans previously worked at BNP Paribas (Switzerland) SA from 2002 to 2009.
09/09/2010

25 candidates to acquire Pioneer

p { margin-bottom: 0.08in; } Pioneer, the asset management unit of the UniCredit group, is said to have 25 suitors, according to reports in the Italian newspaper Il Messagero. None of the candidates is Italian, and only 5 of them are interested in acquiring the entirety of the asset management firm. The newspaper names GAM and Invesco as among the candidates to acquire the firm.
09/09/2010

Paul Rubens (ex-Black Horse) joins Franklin Templeton

p { margin-bottom: 0.08in; } Asian Investor reports that Paul Rubens has left the Singapore-based hedge fund Black Horse to join Franklin Templeton in New York. In his new role, Rubens will assist Templeton’s investment teams in Asia, including joint ventures in China with Sealand Securities and China Life Insurance, as well as entities in Japan, India and South Korea. He will also assist in other regions, including Latin America.
09/09/2010

JP Morgan recruits Neil Gregson

Former Credit Suisse star Neil Gregson has joined JP Morgan Asset Management’s global equities team where he will work alongside Ian Henderson on the firm’s natural resources funds, writes Citywire.
09/09/2010

Strong demand for bond ETFs

p { margin-bottom: 0.08in; } Due to large-scale demand, the range of European bond ETFs from iShares, the ETF arm of BlackRock, has topped USD25bn in assets under management, a statement says. iShares has seen assets in the range increase 44% per year in the past two years, “demonstrating investors’ interest in the liquidity, diversification and transparency offered by these solutions,” the promoter says. For the bond tracker fund segment, iShares says that for the first half of 2010, inflows represented 23% of total inflows to European ETF markets. Investors have primarily invested in ETFs specialised in government bonds, corporate and emerging market debt. The ETF market is likely to remain dynamic. “At the beginning of the year 2008, iShares predicted that global bond ETF assets would increase by 200%, to over USD200bn by 2011. The industry is on track to meet this prediction, with global assets under management in bond ETFs currently totalling USD189.9bn,” says Alex Claringbull, Senior Portfolio Manager at BlackRock.
09/09/2010

GAM launches a UCITS market neutral credit fund

p { margin-bottom: 0.08in; } GAM has announced the launch of its first market neutral credit fund, which is managed by the US firm CDI LLC, and is entitled GAM Star Diversified Market Neutral Credit. The UCITS-compliant product, which has been listed on the Irish stock exchange since 2 July, aims for absolute returns with low correlation to bond markets, investing in a highly diversified long/short portfolio of undervalued credit, most of it investment grade. DCI uses quantitative methods to determine default risks, and to precisely value credit issues. The management firm then constructs risk-adjusted and diversified long/short portfolios to exploit inefficiencies.
09/09/2010

Goldman fined by FSA over Abacus scandal

According to the Financial Times, Goldman Sachs is facing a fine thought to be near GBP20m from the Financial Services Authority. The UK’s regulator opened its investigation into the bank in April after the SEC charged Goldman with misleading investors in a complex mortgage-backed security known as Abacus.
09/09/2010

UCITS HFS market up 0.43% in August

p { margin-bottom: 0.08in; } Despite the downturn in the last week of August, the HFS UCITS hedge fund index has posted growth of 0.43% for the month of August as a whole, Hedgeweek reports. Eight strategies out of eleven finished the month with positive returns, with the best results for fixed income (+2.24%), credit and multi-strategy (with +1.83% each). The three strategies which showed losses were L/S equity (-0.49%), arbitrage (-0.27%), and convertibles (-0.20%).
09/09/2010

Assets in funds of funds down in first half

p { margin-bottom: 0.08in; } Assets in the major funds of hedge funds were down 0.6% in first half, according to the most recent statistics from InvestHedge Billion Dollar FOHF Club, reported by Hedgeweek. This development is in line with the average performance of funds of funds in the same period. Assets in the largest funds of funds, those with assets under management of over USD1bn, totalled USD595bn in first half. The top ten funds saw an increase in their assets of USD6.4bn during the period.
09/09/2010

Hedge fund assets down again in July

p { margin-bottom: 0.08in; } According to estimates by TrimTabs Investment Research and BarclayHedge, hedge funds in July saw net outflows of USD2.9bn, equivalent to 0.2% of their assets, Hedge Week reports. This is the second consecutive month of net redemptions, and funds have seen net outflows in three of the past four months. Assets in the sector have seen their third consecutive monthly decline, to a total of USD1.53trn, their lowest level since November last year.
09/09/2010

Franklin Templeton given clearance for Bucharest mandate

p { margin-bottom: 0.08in; } An extraordinary general shareholders’ meeting of the Romanian compensation fund Fondul Proprietatea has confirmed a management mandate awarded to Franklin Templeton Investment Management Limited (FTIML; see Newsmanagers of 1 March), Fonds Professionell reports. Mark Mobius, chairman of the Templeton Emerging Markets Group, says that the decision opens the way for fund listings in Bucharest. FTIML has recently opened an office in the Romanian capital, with 17 employees. The fund has assets of EUR2.7bn.
09/09/2010

Allianz RE optimises its portfolio

p { margin-bottom: 0.08in; } After two years without a sale of assets, Allianz Real Estate (ARE) has granted Richard Ellis a mandate to sell real estate assets for about EUR1bn, the Frankfurter Allgemeine Zeitung reports. The objective is to optimise the portfolio with a sale of small properties and acquisitions of new ones in better locations, in major cities, with stable revenue flows. Currently, EUR17bn are invested in properties and land, but the portfolio may rapidly grow to EUR25-30bn.
09/09/2010

Charles Pridgeon appointed CIO of Allianz Real Estate

p { margin-bottom: 0.08in; } Charles J. Pridgeon, who has previously served as CEO of Aareal Asset Management, will join Allianz Real Estate (ARE) this month as chief investment officer (CIO). He will be in charge of investment decisions for ARE’s global platform.
09/09/2010

EUR28bn in outflows from UCITS funds in second quarter

p { margin-bottom: 0.08in; } UCITS funds in second quarter 2010 posted a net outflow of EUR28bn, compared with inflows of EUR48bn in first quarter, according to statistics from the European asset management association (EFAMA). Long-term UCITS funds, excluding money market funds, finished second quarter with net inflows of EUR23bn, compared with EUR86bn in first quarter. This development is probably related to investor concerns over the Greek crisis. Net outflows from money market funds increased in second quarter to EUR51bn, compared with EUR38bn in first quarter. The total value of assets in UCITS funds was down 0.5% in the quarter under review, to EUR5.606bn as of the end of June. Equities funds saw the largest decline (EUR76bn), followed by money market funds (EUR45bn). Assets in non-UCITS funds, for their part, increased 2.6% to EUR1.888bn as of the end of June.
09/09/2010

Bad month of August for Paulson & Co

Paulson & Co, the world’s third-largest hedge fund manager, has seen another painful month, according to the Financial Times. The firm’s USD9bn Advantage Plus fund, its largest, lost 4.26 per cent in August, wiping out gains made in July. The fund is down 11 per cent so far this year.
09/09/2010

Advantage Plus fund from Paulson loses 4.3% in August

According to sources familiar with the matter cited by the Wall Street Journal, the Advantage Plus hedge fund from John Paulson suffered losses in August of 4.3%. It has continued to suffer from premature bets on an economic recovery. In the first eight months of the year, cumulative losses total 11%. However, the Gold Fund from Paulson has posted performance of 9% in August.
09/09/2010

Two new hedge funds from HSBC Global AM

p { margin-bottom: 0.08in; } HSBC Global Asset Management has added to the range of hedge funds in its Luxembourg Sicav, with the launch of the HSBC GIF European Equity Alpha and HSBC GIF Global Emerging Markets Equity Alpha, two absolute return UCITS III funds. The objective of the HSBC GIF Absolute Return Equity Alpha fund is to earn regular absolute returns higher than those of its benchmark index, with low correlation to the returns produced by European equities. The HSBC GIF European Equity Alpha fund, managed by a team of four people led by Vis Nayar, invests in a universe of nearly 700 securities, and will invest in about 80 of them, with 45 short positions, to diversify risk, and 35 long positions. The team will aim to profit from anomalies in the fundamental valuation of equities, using quantitative and qualitative strategies in complement to each other. The HSBC GIF GEM Equity Alpha fund, for its part, will aim to earn regular absolute returns higher than those of its benchmark index, decorrelated from the returns produced by emerging markets equities. The fund is managed jointly by Omar Negyal and Nick Timberlake, and invests in a universe of about 700 securities, selected from the countries of the MSCI Emerging Market index and some countries of the MSCI Frontier Markets index. HSBC GIF GEM Equity Alpha will then invest in 70 shares with 35 long positions and 35 short positions. The objective will be to generate alpha on both halves of the portfolio.
09/09/2010

Hedge funds lost more ground in August

p { margin-bottom: 0.08in; } The BarclayHedge hedge fund index of 835 funds which had published results as of 8 September reveals an average loss of 0.16% in August, and performance of 1.82% in the first eight months of the year. The largest gains in August were for the 6 equity short bias funds, with 2.23%, and the 16 convertible arbitrage funds, with 1.43%. However, the 93 equity long bias funds lost an average of 2.52%. In January-August, the 25 FI arbitrage funds finished on top, with performance of 8.35%, followed by the 16 convertibles arbitrage funds, which gained 6.77%. Equity long bias, however, has lost 2.25% in the first eight months of the year.
09/09/2010

Dow Jones and SAM launch indices

Dow Jones Indexes and SAM have announced the launch of its European sustainability index series. The Dow Jones Sustainability Europe indexes complement the global Dow Jones Sustainability index series and include broad benchmark as well as blue chip indexes for Europe and the Euro zone. The new indexes are designed to serve as benchmarks and to underlie index-linked investment products such as funds, exchange-traded funds, structured products, futures and options.


09/09/2010

BNP Paribas WM focuses on fast-growing private management segments

p { margin-bottom: 0.08in; } As several segments of the private management industry are growing faster than the market average, including Ultra High Net Worth Individuals (up 7.2% per year, compared with 6% for the market as a whole) and independent wealth management (third-party managers, IFAs, multi-family offices), BNP Paribas Wealth Management announced on Wednesday, 8 September that it is planning to strengthen its specific approach to these segments with a dedicated team. The firm has appointed Rémi Frank as head of UNHWI and independent wealth managers. He joins the executive board of BNP Paribas Wealth Management, alongside Jacques d’Estais (CEO), Mignonne Cheng (head for Asia-Pacific), Marie-Claire Capobianco (head for domestic markets), Pascal Boris (head for International Europe), Patrice Crochet (head for Luxembourg), Olivier Maugarny (head of Products & Services) and Vincent Lecomte (COO). Frank was previously head of sales and equities derivative structuring at the investment and finance bank. He was a member of the executive board for GECD (global equities and commodities derivatives) within CIB (corporate and investment banking). The resources dedicated to these two priority segments comes as part of an initiative to reorganise the profession, announced in July 2010, a statement says. The team dedicated to UNHWI and independent wealth managers comes as part of an effort to develop the 5 geographical regions (Asia Pacific, Euro domestic markets, new domestic markets, International Europe, and Luxembourg).
09/09/2010

Scottish Widows adds to real estate unit

p { margin-bottom: 0.08in; } Laura Hamilton has left AIG Global Real Estate to join the institutional real estate team at Scottish Widows Investment Partnership (SWIP) as of 1 September. She will report to Jon Bailey, investment director. The Scottish management firm also reports that Graham McPhail (ex-Stockland) and Lucy Duncan (ex-Schroders) have also been recruited for the institutional real estate team, and will report to Peter Lillington, head of institutional real estate. The fourth recruitment is that of Ewan Cameron, who joins the SWIP Property Trust Team from Stockland, and who will report to Kerri Hunter, deputy fund manager. Kerry Lees has also been transferred to the SWIP Property Trust team as an asset manager; she was previously in the research and strategy team. Farida Manata has accepted a permanent position in the research team. As of 30 June, SWIP managed about GBP5.9bn in real estate, of which GBP2bn were for the SWIP Property Trust, whose size has doubled in 15 months.
09/09/2010

db ETC lists two new products in Frankfurt

p { margin-bottom: 0.08in; } Deutsche Börse on Wednesday announced that it has admitted the ETC db Physical Gold ETC (EUR), investing in physical gold, and the db Physical Silver ETC (EUR), investing in physical silver, from db ETC Index Plc (Deutsche Bank group) to trading on its Xetra electronic platform. The German-registered products (DE000A1E0HR8 and DE000A1E0HS6) charge commissions of 0.29% and 0.45%, respectively. The ETC segment of the Deutsche Börse now lists 178 instruments.
08/09/2010
Fonds

Deka achète une tour de Manhattan

SL Green Realty Corp, l’un des principaux propriétaires d’immeubles de bureaux de New York, a annoncé qu’il va vendre pour 123,2 millions de dollars la tour située au 19 West 44th St. dans Midtown Manhattan au gestionnaire allemand de fonds immobiliers Deka Immobilien Investment, rapporte The Wall Street Journal.La transaction pour cet immeuble de deuxième classe s’effectue à 422 dollars du pied carré, signe que le marché se redresse. Certes, durant la période faste, l’immeuble aurait valu 600 dollars, mais il se serait vendu pour 325 dollars au plus bas, comme le souligne Dan Fasulo, managing director chez Real Capital Analytics.En tous cas, SL Green avait acheté l’immeuble (292.000 pieds carrés) en 2004 pour 67 millions de dollars.
Fonds
08/09/2010

Pat O'Brien devient CEO d'Aviva Investors pour l'Amérique du Nord

Aviva Investors a annoncé mardi la nomination avec effet immédiat de Pat O’Brien comme CEO d’Aviva Investors North America, avec la responsabilité des activités du gestionnaire pour les Etats-Unis et le Canada. Basé à Chicago, il sera subordonné à Alain Dromer, CEO d’Aviva Investors et membre du comité exécutif mondial.Pat O’Brien était entré en 2000 chez Evergreen Investment Management, la filiale de gestion d’actifs de Wachovia Corporation. Entre 2008 et 2009, il a été head of international chez Wachovia Global Asset Management. Sa nomination s’inscrit en particulier dans le cadre de la stratégie d’Aviva Investors visant à développer ses encours institutionnels.Tout récemment, Aviva Investors a confié à Jean-François Boulier la direction générale d’Aviva Investors Europe, en plus de ses fonctions de président du directoire d’Aviva Investors France (lire nos articles des 31 août et 1er septembre).
08/09/2010

David Rubenstein (Carlyle) fait un don de 10 millions de dollars à son université

The Wall Street Journal annonce que David Rubenstein, l’un des fondateurs de Carlyle, a l’intention de faire un don de 10 millions de dollars à l’University of Chicago Law School où il a fait ses études. A compter de 2011, le David M. Rubenstein Scholars Program couvrira la totalité des frais de scolarité, d’hébergement et de nourriture pour 20 nouveaux étudiants pendant les trois ans de leur cursus. Si c’est un succès, David Rubenstein pourrait remettre au pot.
08/09/2010

Marc Krombas (ex-SGAM UK) a quitté GLG

Selon fundstrategy, Marc Krombas, qui gérait un fonds dédié à la région Mena (Moyen-Orient et Afrique du Nord), a quitté il y a quelques mois GLG Partners qui a depuis recruté Mark Diab en qualité de gérant de portefeuille actions sur cette même région.Marc Krombas avait rejoint GLG l’an dernier à l’occasion du rachat par la société de gestion alternative britannique de Société Générale Asset Management UK qui avait lancé le fonds Mena en mai 2008, en raison du découplage de ces marchés des turbulences financières qui affectaient alors le monde développé. GLG n’a fait aucun commentaire sur les raisons du départ de Marc Krombas, ni sur ses projets.
08/09/2010
Fonds

Le St. James’s Place Equity Income Unit Trust reste fidèle à ses gérants

Nick Purves et Ian Lance resteront responsables de la gestion du fonds St. James’s Place Equity Income Unit Trust de St. James’s Place. Les deux gérants ont récemment quitté Schroders pour rejoindre RWC Partners. Après une étude rigoureuse du processus, la société de gestion a donc décidé de continuer à faire confiance à l'équipe. Nick Purves pilote le fonds, qui pèse plus de 500 millions de livres, depuis plus de sept ans, indique un communiqué.
Fonds

Sujets d'actualité

Tous les sujets