Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
09/12/2013

Redéploiement de compétences au sein du directoire de Deka

Friedrich Oelrich a annoncé sa démission, pour raison de santé, de membre du directoire de DekaBank, le gestionnaire central des caisses d'épargne allemandes (180 milliards d’euros). Il quittera ses fonctions de responsable du contrôle des risques et de la surveillance du crédit, qu’il occupait depuis janvier 2001, le 31 décembre.De ce fait, le directoire de Deka va être ramené à cinq membres, avec une nouvelle répartition des tâches.Michael Rüdiger, président du directoire depuis le 1er novembre 2012, prend en compte la stratégie, la communication et le risque. Oliver Behrens, vice-président, est chargé des clients institutionnels ainsi que des pôles valeurs mobilières et marchés de capitaux.Matthias Danne est à la tête de l’immobilier, des financements et assure aussi les fonctions de directeur financier, tandis que Martin K. Müller a la responsabilité de l’exploitation, de l’informatique, des ressources humaines et de la trésorerie.Enfin, Georg Stock est chargé de la distribution par le canal des caisses d'épargne ainsi que du marketing.
09/12/2013

Russell Investments a des projets « agressifs » pour 2014

Dans un entretien à Financial News, Pascal Duval, le CEO de Russell Investments pour l’Europe, le Moyen-Orient et l’Afrique, déclare « nous avons des projets agressifs pour 2014 ». Sur les institutionnels, la société de gestion pousse fortement la gestion fiduciaire et la gestion sous contrainte de passif. Pascal Duval annonce aussi l’ouverture d’un bureau à Milan il y a quelques jours où se trouvent six personnes, qui vont passer à huit dans les deux prochains mois. « Nous allons recruter davantage pour l’Italie et étendre notre activité retail en Italie ».
09/12/2013
Fonds

Les hedge funds coordonnés sont restés dans le vert en novembre

L’indice UCITS Alternative du suisse Alix Capital est ressorti pour novembre à 115,86, ce qui correspond à une performance de 0,49 % après 1,18 % pour octobre. Depuis le début de l’année, les hedge funds coordonnés ont ainsi enregistré en moyenne un gain de 3,71 %.Les fonds de hedge funds coordonnés ont pour leur part progressé de 0,41 % en novembre et de 0,86 % en octobre, affichant une performance de 3,80 % sur les onze premiers mois de 2013.Pour novembre, seule la stratégie devises (FX) a été dans le rouge avec une perte de 0,19 %, tandis que les CTA enregistraient le meilleur score avec un gain de 1,44 %.Sur les onze premiers mois de l’année, trois stratégies sont en perte: la volatilité (- 3,76 %), les matières premières (- 3,62 %) et les devises (- 3,44 %). Les meilleurs résultats ont en revanche été enregistrés par le long/short equity (+ 9,87 %), le multi-stratégies (+ 4,72 %) et l’événementiel (+ 3,61 %).L’encours des hedge funds coordonnés a franchi pour la première fois la barre des 180 milliards d’euros à fin novembre, tandis que celui des fonds de hedge funds coordonnés a augmenté à 4,55 milliards d’euros.
Fonds
09/12/2013

AIFM: 82% of German funds are affected

In an interview with the Börsen Zeitung, Thomas Richter, CEO of the German BVI association of asset management firms, claims that with the inclusion of real estate fuds and institutional funds within the field of the AIFM directive, 82% of the German fund market is affected, compared with 25%, for example, in Italy, and only 35 in Spain. “Nowhere is the collateral damage higher:” in the space of one year, German managers will have to send BaFin about 1.2 million pages.In addition, they will have to submit new documentation for each of 4,000 institutional funds (Spezialfonds), to obtain a license corresponding to the new status of capital management company (KVG).Lastly, from April 2014, funds will all as a general rule have to submit complete reporting to ESMA and BaFin on the composition of the portfolio and the structure of risks.
09/12/2013

New chair and deputy chair of AIMA's ISC

Michelle McGregor-Smith, CEO of British Airways Pension Investment Management, and Kurt Silberstein, managing director, alternative investments at Ascent Private Capital Management (an affiliate of U.S. Bank), have been elected as president and vice-president, respectively, of the Investor Steering Committee (ISC) at the international alternative investment management association (AIMA).The ISC, whose primary mission is educational, includes more than 20 institutional investors, whose assets total USD800bn.
09/12/2013

Equity funds continue to post outflows in early December

With better than expected US data triggering visions of less quantitative easing by the New Year, there was an appreciable ‘tapering’ of flows into many global equity and bond funds during the week ending Dec. 4.Overall, investors pulled a net USD2.03 billion out of equity funds, which experienced their fifth straight week of retail redemptions, according to data communicated by EPFR Global. Retail investors continued their flight from these fund groups. Since the last week of February they have pulled money out of Emerging Markets Equity Funds every week but one, with net redemptions over that span totaling more than USD42 billion.Bond funds finished the week with outflows of USD376m, while money market funds saw over USD31 billion flow in.
09/12/2013

Irish pension fund sells private equity portfolio

The Irish pension fund is seeking a single buyer for a global private equity portfolio representing slightly over USD1bn, Dow Jones reports, citing several sources familiar with the matter. The sale, which includes stakes in funds managed by TPG Capital, CVC Capital Partners and Providence Equity Partners, is expected to be completed by the end of the year. The sale comes at a time when the Irish pension fund is repositioning itself to domestic investments.
09/12/2013

Le rapprochement EMCF/EuroCCP est bouclé

L’opération de rapprochement annoncé au printemps entre les chambres de compensation EMCF et EuroCCP est bouclée. Les deux maisons européennes ont annoncé à la veille du week-end que les deux entités avaient fusionné pour donner naissance à European Central Counterparty N.V., la plus importante chambre de compensation en Europe.Le bouclage de l’opération fait suite à l’accord donné par la banque centrale néerlandaise, la DTCC américaine et BATS Chi-X Europe pour devenir actionnaires d’EMCF. Ils rejoignent à parité les actuels propriétaires, ABN Amro Clearing Bank et Nasdaq OMX. Le changement de nom d’EMCF en European Central Counterparty N.V. prendra effet à compter du 6 janvier 2014.
09/12/2013

Northern Trust launches EMD fund

Northern Turst has launched the Northern Multi-Manager Emerging Markets Debt OpportunityFund, which offers investors a wide range of exposur to emerging market debt.The fund, launched on 3 December, invests at least 80% of its assets in bonds, which provide exposure to emerging market issuers in local or hard currencies. The fund may also invest pragmatically in corporate debt.The fees are 0.93%, and the minimum investment is USD100,000. Assets are allocated to several external sub-advisers, who apply different investment styles. Northern Trust steers the research and selection of managers, optimisation and monitoring of the portfolio.
09/12/2013

Two former partners at Natixis AM go into SR advisory

Two specialists in socially responsible investment (SRI) and corporate social responsibility (CSR), Véronique Le Heup and Nadia Tihdaini, have decided to merge their complementary expertise to co-found Efires, a strategic advising and 0perational consulting firm, specialised in SRI and CSR for actors in sustainable finance, investors, businesses and communities. The mission of Efires is to assist investors and businesses with the conduct of their activities. Efires may also construct custom SRI and CSR strategies with directors, assist in their operational deployment alongside internal actors, and organize traceability and reporting.
09/12/2013

F2I et Ardian se partagent le capital d’Enel Rete Gas Spa

F2i, le fonds d’investissement italien spécialisé dans les infrastructures et la société d’investissement Ardian vont acquérir une participation additionnelle de 14,8% du capital de la société Enel Rete Gas SpA détenue par Enel Distribuzione SpA. Le montant de l’opération s'élève à 122,4 millions d’euros. Une fois réalisée, F2i et Ardian, qui détenaient déjà 85,1% du capital, possèderont la quasi-totalité de la société, indique un communiqué. Le rachat de 14,8% du capital réalisé par un véhicule composé de F2i (55%) et Ardian (45%). L’accord conclu entre les parties porte également sur le remboursement de la dette contractée par Enel SpA en 2009 pour environ 177 millions d’euros.
09/12/2013

New manager for China fund from Metzler

The German asset management firm Metzler Fonds has appointed Toshuyuki Murai as the new manager of its Metzler Chinese Equity fund (EUR23m), Citywire Global reports. He replaced Hidestige Watanabe, who had managed the fund domiciled in Dublin since its launch in March 2007.
09/12/2013

UCITS-compliant HFs remained in positive territory in November

The Alternative UCITS index from the Swiss firm Alix Capital in November was 115.86, which corresponds to performance of 0.49%, after 1.18% in October. Since the beginning of the year, UCITS-compliant hedge funds have posted average gains of 3.71%.UCITS-compliant funds of hedge funds, for their part, have gained 0.41% in November, and 0.86% in October, for returns of 3.80% in the first 11 months of 2013.In November, only FX strategies showed losses of 0.19%, while CTAs posted the best score, with gains of 1.44%. In the first eleven months of the year, three strategies show losses: volatility (-3.76%), commodities (-3.62%), and FX (-3.44%). The best results, however, were for long/short equity (+9.87%), multi-strategies (+4.72%) and event-driven (+3.61%).Assets in UCITS-compliant hedge funds for the first time topped EUR180bn as of the end of November, while UCITS-compliant funds of hedge funds increased to EUR4.55bn.
09/12/2013

iShares consolidates leadership on European ETP market

In January-November, net subscriptions by European ETPs totalled USD17.2bn, for a total of USD413.5bn. But iShares alone took in USD22.2bn, and its assets totalled USD197.6bn, which represents a market share of 47.8%.Deutsche Asset & Wealth Management (DeAWM) and Lyxor, however, have seen respective net outflows of USD5.8bn (including USD7.66bn for the db x-trackers Dax ETF alone), and USD1.4bn (including USD678m for the Lyxor ETF Euro Cash), their assets total a respective USD54.8bn and USD43.4bn, for market shares of 13.3% and 10.5%, according to statistics from the BlackRock Institute.ETF Securities and the Cantonal Bank of Zurich (ZKB), which have gold ETFs in their product ranges, have seen net redemptions of USD3.8bn and USD2.6bn, respeectively, to USD15.4bn and USD9.6bn.However, UBS and Source have posted net inflows of USD1.2bn and USD1.6bn for January-November, and their assets as of the end of November total USD16.1bn and USD15.4bn.
09/12/2013

ETF activity down on NYSE Euronext in November

Although the daily on-book trading volume in the European markets of NYSE Euronext increased in November to EUR195m, compared with EUR192.4m in October, while it was down 7.3% compared with the corresponding month of last year, the total volume of on-book trades for the month was down to EUR4.1bn, compared with EUR4.4bn the previous month, and has contracted by 11.6% vs November 2012.Block trades totalled EUR138.6m in November, compared with EUR464.1m the previous month, or 3.4%, compared with 10.5% of the daily trading volume on regulated ETF markets of NYSE Euronext.The daily spread for last month totalled 24.1 basis points, compared with 25.3 points in October.
09/12/2013

Capital Group signs distribution agreement in Italy

The US asset management firm Capital Group has signed a distribution agreement with Fineco Bank, an arm of UniCredit which is one of the largest financial advisers’ networks in Italy. The move follows the opening of an office by Capital Group in Milan in early 2013. The US firm had already signed distribution agreements with Pioneer, also a UniCredit affiliate.
09/12/2013

Richard Hodges to manage three more funds at LGIM

Richard Hodges of Legal & General Investment Management will take over the management of three more bond funds, representing total assets of GbP2bn, after the current manager, Michael Canoy, decided to leave the firm, Investment Week reports. The funds concerned are the Legal & General Fixed Interest Trust, Legal & General Managed Monthly Income Trust and Legal & General Sterling Income.
09/12/2013

Bill Gross takes over the Pimco Unconstrained Bond Fund

Bill Gross, the manager of the USD244bn Pimco Total Return Fund which has experienced outflows of USD36.9bn of redemptions this year through November 30th, is taking over management of the Pimco Unconstrained Bond Fund (ticker: PUBAX), with current manager (since 2008) Chris Dialynas leaving once again on a sabbatical, Bloomberg reports.PUBAX can invest across an array of fixed income, regardless of maturity, credit quality or region. Under Dialynas, the unconstrained strategy returned an annualized 5.2% over the past five years, worse than 83% of peers, and fell 2.1% this year, behind 75% of rivals.
09/12/2013

Schelcher Prince Gestion launches fund in partnership with Debory Eres

The asset management firm Schelcher Prince Gestion is launching in partnership with Debory Eres, an independent employee savings platform, a saving fund for employees (FCPE), Eres Schelcher Obligationa. It will be available in the new employee savings range Eres Sélection 4. The FCPE, which is a multi-strategy bond fund, is invested in Schelcher bond funds, including Schelcher Opportunités Européennes. The FCPE may be subscribed to as part of the PEI-PERCOI range.
09/12/2013

M&G Real Estate creates MD position in South Korea

The British firm M&G Real Estate has appointed Hyesik Ryu to the newly-created position of managing director of its real estate activities in South Korea, Funds Europe reports. Ryu will be based in Seoul, and will be responsible for the management and supervision of the office. He will report to Scott Girard, Chief Executive at M&G Real Estate Asia.
09/12/2013

Redéploiement de compétences au sein du directoire de Deka

Friedrich Oelrich a annoncé sa démission, pour raison de santé, de membre du directoire de DekaBank, le gestionnaire central des caisses d'épargne allemandes (180 milliards d’euros). Il quittera ses fonctions de responsable du contrôle des risques et de la surveillance du crédit, qu’il occupait depuis janvier 2001, le 31 décembre.De ce fait, le directoire de Deka va être ramené à cinq membres, avec une nouvelle répartition des tâches.Michael Rüdiger, président du directoire depuis le 1er novembre 2012, prend en compte la stratégie, la communication et le risque. Oliver Behrens, vice-président, est chargé des clients institutionnels ainsi que des pôles valeurs moblières et marchés de capitaux.Matthias Danne est à la tête de l’immoobilier, des financements et assure aussi les fonctions de directeur financier, tandis que Martin K. Müller a la responsabilité de l’exploitation, de l’informatique, des ressources humaines et de la trésorerie.Enfin, Georg Stock est chargé de la distribution par le canal des caisses d'épargne ainsi que du marketing.
09/12/2013

FRR selects Eiris for analysis of extra-financial risks

The French pension fund Fonds de réserve pour les retraites (FRR) has selected a bid presented by the Eiris Ltd company as part of a process to select a provider of analysis of extra-financial risks launched in June. The contract was awarded for a period of two years, renewable once for a period of one year.
09/12/2013

Russell Indices launches index of highly liquid midcaps

The index provider Russell Indices has launched an index of the 150 most easily-traded British businesses. Russell Indices says that it consulted with companies such as Barclays. Goldman Sachs and J. P. Morgan to determone the attraction in offering indices that are easily traded on an illiquid market. Russell Indices also reports that it has worked with NYSE Liffe to develop futures contracts based on the index, which may soon be available for trading on Bclear, which includes the settlement and clearance services of Nyse Liffe.
09/12/2013

Julius Baer takes over activities of Merrill Lynch in the Middle East

The Julius Baer bank has taken over the international wealth management activities of its US counterpart Merrill Lynch in Lebanon, Bahrain and the United Arab Emirates, the firm announced in a statement on 9 December. The Zurich-absed firm is thus strengthening its position in the Middle East, and especially Beirut, Manama and Dubai. Employees, client relationships and most assets under management were transferred at the beginning of December, the bank says, without providing further details. The operation is expected to be completed in first quarter 2014. Merrill Lynch has been present in Lebanon in private banking for 50 years, and for 35 years in Bahrain, and has solidly-implanted teams, Julius Baer says in a statement. The Swiss bank now has offices in Abu Dhabi, Beirut, Cairo, Dubai, Istanbul and Manama. The group has also announced the transfer of international wealth management activities in Switzerland, Uruguay, Chile, Luxembourg Monaco, Hong Kong, Singapore, the United Kingdom, Spain and Panama were proceeding as expected.
09/12/2013

Fusion de Birch Caring Capital avec IVM

Fonds Nieuws rapporte que les gestionnaires de fortune néerlandais Birch Caring Capital, spécialiste de l’ISR, et IVM Vermogensbeheer vont fusionner, conformément à une demande d’agrément déposée le 1er novembre au près de la Chambre de commerce. L’entreprise résultat de la fusion prendra le nom d’IVM Caring Capital et aura comme président Hans Volberda, l’actuel CEO de Birch tandis que le directeur général sera Hans Molenaar, qui a été CEO de SNS Asset Management.La maison-mère de Birch Caring Capital, Caring Capital Group, a acheté IVM il y a quelques mois et procède maintenant au regroupement sans y adjoindre toutefois sa participation de 75 % dans le gestionnaire de fortune Van Lieshout & Partners, d’Hilversum.
09/12/2013

Scorpio Partnership acquired by an Aon Hewill company

The wealth management specialist Scorpio Partnership, based in London, is being acquired by McLagan, a company of the aon Hewitt group, according to a statement released on 5 December. Scorpio Parttnership brings the McLagan group all of its expertise in the research and development of solutions aimed at institutional clients in more than 35 countries. “Scorpio Partnership is a well-known actor in the area of wealth management worldwide. The constant attention paid to the evaluation of the fundamentals that the wealth management client really needs has inspired and improved wealth management,” says Peter Keuls, global head of wealth management at McLagan.
09/12/2013

Deficits for FTSE pension programmes up by 40%

The on-book deficits for pension funds for companies of the FTSE 350 have increased by 40% since the beginning of the year, according to the Pensions Risk Survey, published by Mercer. According to the consulting firm, this deficit of GBP102bn corresponds to a coverage rate of about 85%, compared with 88% at the end of 2012. Assets in pension funds fell by GBP3bn in November, to a total of GBP563bn, while liabilities meanwhile fell by a similar sum of GBP665m.
09/12/2013

Head of investments leaves Aviva Investors

Paul Abberley, who had been head of investments, and also served as interim CEO at Aviva Investors, left the firm at the end of November. His departure is said to be independent of other departures which have affected the asset management firm. The departure comes at a time when Euan Munro is expected to join Aviva Invetors as CEO in January.
09/12/2013

Half of advisers have refused clients because of RDR

According to a survey by NMG Consulting on behalf of the Association of Professional Financial Advisers (APFA) 47% of financial advisers in the UK have turned away clients following the implementation of RDR, as they feel the cost of their service has become disproportionately high for some clients’ needs. Of these, 40% confirmed that they had turned away five or more clients in the year.APFA estimates that «nearly 60,000 customers have been turned away so far this year - priced out of professional financial advice», according to a press release. Thus, the Association is calling for a reduction in the cost of regulation to prevent further consumer detriment, since the regulatory overhead is too high for a profession that is now better qualified and poses less risk.
09/12/2013

"Nous voudrions lancer des produits mondiaux dans les petites capitalisations et l’immobilier"

Société de gestion néerlandaise née dans les années 1990, Kempen Capital Management, filiale de la banque Kempen & Co, gère aujourd’hui environ 30 milliards d’euros. Il y a quelques années, la structure s’est attaquée à d’autres marchés que les Pays-Bas, et notamment la France, où elle gère deux mandats pour le Fonds de réserve pour les retraites (FRR). Dans un entretien, Paul Gerla, CEO de Kempen CM, présente sa société.

Sujets d'actualité

Tous les sujets