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03/09/2013

DeAWM recrute un dirigeant pour les fonds immobiliers

Avant la fin septembre, Jörn Stobbe, associé du cabinet d’avocats Clifford Chance et jusqu’en août président de l'émanation en Allemagne de la Royal Institution of Chartered Surveyors, rejoindra comme membre de la direction générale RREEF Management GmbH, une filiale de Deutsche Asset & Wealth Management (DeAWM). Il aura le rang de managing director et sera responsable des activités gestion d’actifs et transactions pour l’espace germanophone (Allemagne, Suisse, Autriche). Jörn Stobbe est également membre du directoire de l’Initiative Corporate Governance (ICG) du secteur immobilier allemand.Pierre Cherki, global head of alternatives & real assets de DeAWM, a indiqué que Jörn Stobbe sera subordonné à Georg Allendorf. Il a mis en exergue l’expertise du nouvel arrivant dans le domaine des «investissements opportunistes».
03/09/2013

XTB passe sous la coupe de la Deutsche Bank

La Deutsche Bank a annoncé le 2 septembre avoir bouclé la transaction par laquelle, en mai, elle avait acquis les 51 % que Xchanging plc détenait dans leur coentreprise Xchanging Transaction Banking (XTB).Les autorisations nécessaires ayant été obtenues des instances de surveillance et des actionnaires d’Xchanging, le changement de propriétaire est devenu effectif au 1er septembre et XTB sera désormais exploitée sous le nom de DB Investment Services GmbH.Holger Wegmann devient CEO de DB Investment Services tandis que Catrin Röthe, membre de la direction générale de XTB, exercera les fonctions de chief production officer. Quant au poste de COO, il échoit à Thomas Beemelmann.
03/09/2013

Nouveau patron pour la distribution de fonds chez Berenberg

Avec effet au 1er septembre 2013, Gunther Will est devenu directeur de la distribution des fonds offerts au public de Berenberg auprès des gestionnaires de fortune, des fonds de fonds et des CGPI. L’intéressé qui a été pendant quelques mois président du directoire du pool de couriters Argentos Verwaltungs-AG, après avoir été jusqu’au printemps 2012 head of retail sales chez Alceda Fund Management SA et responsable de la distribution des fonds pour l’ensemble du groupe Aquila Capital.Gunther Will sera subordonné à Uwe Schedewsky, head of client management du pôle gestion d’actifs de Berenberg. Les actifs gérés par la plus ancienne banque privée allemande se situent à environ 28 milliards d’euros.
03/09/2013

Deka recalibre son pôle institutionnel

Sous la marque «Deka Institutionell», Deka recalibre sa gestion institutionnelle en incluant dans ce pôle un ensemble de prestations permettant d’offrir aux clients une chaîne de valeur complète. Depuis l’analyse stratégique jusqu’au reporting et au contrôle de gestion, en passant par la sélection de solutions produit appropriées et leur mise en œuvre, a souligné hier Klaus-Dieter Böhme, directeur de la distribution institutionnelle de l'établissement.Actuellement, l’encours institutionnel de Deka, le gestionnaire d’actifs central des caisses d'épargne allemandes, représente 85 milliards d’euros, sur un total de 177 milliards. Cette filière couvre les fonds offerts au public dédiés aux institutionnels (10 milliards), les fonds institutionnels (Spezialfonds) pour 62 milliards, les ETF (4,6 milliards) et les actifs conseillés (8,5 milliards). Sur les 85 milliards d’encours institutionnels totaux, environ 60 % proviennent d’entreprises et d'établissements qui font partie de la galaxie des caisses d'épargne. Deka prévoit que les rentrées nettes du pôle institutionnel atteindront 6 milliards d’euros cette année.
03/09/2013

H&A muscle son activité de banque dépositaire

Michael O. Bentlage, associé-gérant responsable du pôle asset servicing, a annoncé que la banque privée francfortoise Hauck & Aufhäuser Privatbankiers (H&A) reprend les fonctions de banque dépositaire exercées jusqu'à présent par SEB pour sept fonds Ampega. H&A prend également en compte six fonds Ampega lancés en mai et juillet de cette année.Michael Bentlage a précisé à cette occasion que H&A a l’intention de développer l’activité de banque dépositaire et a déjà entamé des pourparlers à ce sujet avec plusieurs maisons.
03/09/2013

La Banque J. Safra Sarasin renforce son équipe de gérants de fortune

La Banque J. Safra Sarasin a annoncé le 3 septembre le recrutement de quatre spécialistes expérimentés pour renforcer son équipe de gérants de fortune. Florian Esterer (qui vient de MainFirst après avoir passé plusieurs années chez Swisscanto) est le nouveau responsable de l’équipe de gérants de fortune pour le domaine des actions et sera rejoint par Thomas Zbinden, gérant de fortune senior (qui vient lui aussi de Swisscanto), ainsi que par Christoph Lang, gérant de fortune, qui rejoint en provenance de la Banque Cantonale de Zurich. L’Allemand Helmut Kotschwar, responsable des stratégies d’investissement et de l’analyse de portefeuilles chez SAM Sustainable Asset Management depuis 2008, a par ailleurs étérecruté pour occuper le poste nouvellement créé de responsable de l’investment centre. Il sera chargé de l’élaboration des portefeuilles pour toutes les unités de gestion d’actifs.
03/09/2013
Fonds

SPDR ETF lance trois fonds indiciels à la Bourse de Londres

SPDR ETF, la plateforme de trackers de State Street Global Advisers, a annoncé le 2 septembre le lancement à la Bourse de Londres de trois nouveaux ETF sur les obligations à court terme. Ces trois nouveaux ETF sont également cotés à la Deutsche Börse (Newsmanagers du 30 août).Ces trois nouveaux ETF en réplication physique viennent compléter la gamme obligataire des trackers SPDR ETF, offrant une exposition à une variété d’indices – Global, US, Europe, Royaume-Uni, Marchés Emergents, Haut Rendement et obligations indexées sur l’inflation. En raison de la récente volatilité observée sur les marchés et l’augmentation des taux d’intérêt, la maturité des titres retient à nouveau l’attention des investisseurs, comme risque majeur au sein de leurs portefeuilles obligataires. L’un des moyens de circonvenir ce risque lié à la maturité est d’investir dans des obligations à courte échéance, ce qui peut améliorer les rendements ajustés au risque et diminuer la sensibilité générale d’un portefeuille aux changements de taux d’intérêt.
Fonds
03/09/2013

Schroders renforce son pôle énergie

Mark Lacey, qui a été pendant quatre ans gérant des fonds GSF Global Energy et GSF Global Enhanced global Energy avant de rejoindre la maison de trading Mercuria Global Energy, a été recruté par Schroders comme co-gérant (avec John Coyle) des fonds ISF Global Energy et Small Cap Energy. Il sera subordonné à Peter Harrison, global head of equities, et exercera parallèlement des activités d’analyse dans le domaine de l'énergie. Il émettra également des recommandations de titres pour l'équipe actions mondiales.Par ailleurs, Ben Wicks réintègre l'équipe énergie de Schroders en tant que global sector specialist. Il avait été basic materials sector specialist chez Schroders de 1999 à 2005, avant de conseiller le gouvernement britannique en tant que senior analyst pour les risques géopolitiques.
03/09/2013
Fonds

Miton envisage de lancer un fonds actions long/short

Le britannique Miton envisage de lancer un fonds long/short dédié aux actions britanniques, rapporte Fundweb.George Godber, qui a rejoint Miton en début d’année, pourrait obtenir la gestion de cette nouvelle stratégie, croit savoir le site spécialisé.Les actifs sous gestion de Miton s'élevaient à un peu plus de 2 milliards de livres fin juin. Depuis, Miton a racheté PSigma AM dont les actifs sous gestion s’inscrivent autour de 750 millions de livres.
Fonds
03/09/2013

Legal & General renforce son équipe multi-classes d'actifs

Legal & General Investment Management a annoncé la nomination de Justin Onuekwusi en qualité de gérant de portefeuille spécialisé sur les fonds profilés multi-classes d’actifs retail, rapporte Investment Europe.Justin Onuekwusi travaillait précédemment chez Aviva Investors où il était notamment lead manager sur un certain nombre de fonds profilés multi-classes d’actifs. Chez Legal & General, il sera lead manager de la gamme Legal & General Multi-Index, lancée le 21 août 2013.
03/09/2013

Un ancien de Lyxor rejoint Deutsche Bank

Claus Hein, l’ancien responsable commercial des ETF pour le Royaume-Uni, l’Irlande, les Pays-Bas et les pays nordiques chez Lyxor, rejoint Deutsche Bank, a appris Financial News. Il sera responsable de la distribution synthétique pour le Royaume-Uni. Cela inclura la vente d’ETF.
03/09/2013
Fonds

Ashmore lance un fonds dédié aux actions turques

Le spécialiste des marchés émergents Ashmore a annoncé le 2 septembre le lancement d’une stratégie actions dédiée au marché turc. Ashmore, qui est exposé au marché turc depuis la fin des années 80, a renforcé sa présence dans le pays en 2008 avec l’installation d’une antenne locale. Le fonds ouvert Ashmore SICAV Turkish Equity, domicilié au Luxembourg, sera géré de façon collégiale. Le fonds sera commercialisé en Autriche, en Allemagne, au Luxembourg, en Suisse et au Royaume-Uni, précise Ashmore dans un communiqué.Les actifs sous gestion d’Ashmore s'élevaient à environ 77,4 milliards de dollars à fin juin 2013.
Fonds
03/09/2013

DeAWM recruits director for real estate funds

By the end of September, Jörn Stobbe, a partner at the law firm Clifford Chance, and until the end of August chairman of the German arm of the Royal Institution of Chartered Surveyors, will join RREEF Management GmbH, a real estate fund management affiliate of Deutsche Asset & Wealth Management (DeAWM), as a member of general management. He will have the position of managing director, and will be responsible for asset management activities and trading for the German-speaking countries (Germany, Switzerland, Austria). Stobbe is also a member of the board at the Corporate Governance Initiative (ICG) by the German real estate sector.Pierre Cherki, global head of alternatives & real assets at DeAWM, states that Stubbe will report to Georg Allendorf. He highlights the expertise of the new arrival in the area of “opportunity-driven investment.”
03/09/2013

XTB taken over by Deutsche Bank

Deutsche Bank on 2 September announced that it had completed a transaction by which, in May, it acquired the 51% stake held by its partner, Xchanging plc, in their joint venture, Xchanging Transaction Banking (XTB).As the necessary permission had been obtained from the supervisory authorities and the shareholders in Xchanging the change of ownership took place on 1 September, and XTB will now be known as DB Investment Services GmbH.Holger Wegmann becomes CEO of DB Investment Services, while Catrin Röthe, a member of the executive team at XTB, will serve as chief production officer. The position of COO will go to Thomas Beemelmann.
03/09/2013

New head of fund distribution at Berenberg

With effect from 1 September 2013, Gunther Will has become director of distribution of open-ended funds from Berenberg to wealth managers, funds of funds and IFAs.Will, who for some months was chairman of the board at the brokerage pool Argentos Verwaltungs-AG, served until spring 2012 as head of retail sales at Alceda Fund Management SA, and head of fund distribution for the Aquila Capital group.Will will report to Uwe Schedewsky, head of client management at the asset management business unit of Berenberg. Assets under management by the oldest private bank in Germany total about EUR28bn.
03/09/2013

Deka highlights its institutional management

Currently, institutional assets at Deka, the central asset management firm for the German savings banks, represent EUR85bn, out of a total of EUR177bn. This includes open-ended funds dedicated to institutionals (EUR10bn), institutional funds (Spezialfonds) for EUR62bn, ETFs (EUR4.6bn), and advised assets (EUR8.5bn). The unit will now be placed under the heading “Deka Institutionell” and will allow the firm to offer clients a complete value chain, from strategic analysis to reporting and controlling, without forgetting the selection of appropriate products solutions, and their deployment, says Klaus-Dieter Böhme, director of institutional distribution.Of this total of EUR85bn in institutional assets, about 60% come from businesses and institutions which belong to the galaxy of the savings banks. Deka predicts that net inflows to the institutional unit will total EUR6bn this year.
03/09/2013

J. Safra Sarasin bank recruits for wealth management team

The Banque J. Safra Sarasin on 3 September announced the recruitment of four experienced specialists as additions to its team of wealth managers. Florian Esterer (who joins from MainFirst, after several years at Swisscanto) is the new head of the wealth management team in the area of equities, and is joined by Thomas Zbinden, senior wealth manager (who also joins from Swisscanto), as well as Christoph Lang, wealth manager, who joins from the Cantonal Bank of Zurich. The German Helmut Kotschwar, head of investment strategy and portfolio analysis at SAM Sustainable Asset Management since 2008, has also been recruited to serve in the newly-created position of head of the investment centre. He will be responsible for developing portfolios for all asset management units.
03/09/2013

Aquila loses its CIO to Pimco

The Swiss wealth management firm Aquila has lost its chief investment officer, Jürg Furrer, who had also been a member of the executive board at the group, the specialist information website finews reports.After nine years at Aquila, Furrer will on 1 October join the Swiss office of the US group Pimco. The head of Pimco Switzerland, Christian M. Staub, had recently announced that he wished to strengthen his team with the recruitment of professionals with a lot of knowledge of the Swiss market.
03/09/2013

Two new directors join the Financial Reporting Council

On 2 September, the Financial Reporting Council (FRC), the organisation responsible for developing UK corporate governance and stewardship codes and accounting, auditing and actuarial work standards, appointed Marian Williams as codes & standards director, in which position she will assist Melanie McLaren, executive director, codes & standards, and Angus Bogle, director of investor engagement, as deputy to Mridul Hegde, executive director, strategy.Williams had previously been director of the insurance financial services unit at PwC. Bogle, who had been co-head of equity at Fildelity Worldwide Investments from November 2007 to December 2011, will be responsible for creating an enhanced engagement programme for the FRC and “the investor community.” He will also work with the codes & standards team to ensure that governance and reporting meet the expectations of investors.
03/09/2013

Temasek sets up shop in London and New York

One of the Singapore sovereign wealth funds, Temasek, announced before the weekend that it had selected locations for its offices in London and New York, with the objective of being operational before the end of the year, according to a statement.The New York office will be located at 375 Park Avenue, in the business district of Manhattan. The London office will be at 23 King Street, in St James’s, near a highly valued hedge fund area.The offices come in addtion to the SWF’s network of foreign locations, with nine offices in Asia and two in Latin America.
03/09/2013

Azimut completes acquisition of An Ping Investment in Taiwan

Azimut, via its Luxembourg sub-holding company AZ International Holding, has subscribed to a capital increase related to the acquisition of a 51% stake in the capital of An Ping Investment, the holding company which controls all capital in Sinopro Financial Planning Taiwan Limited, Bluerating reports. Sinopro is a Securities Investment Consulting Enterprise which is present in the distribution of asset management products in Taiwan. The total cost of the operation is EUR3bn. The objective for the agreement is to create a joint venture for the distribution of asset management products in Taiwan.
03/09/2013

Legal & General scales up its multi-asset class team

Legal & General Investment Management has announced the appointment of Justin Onuekwusi as a portfolio manager specialised in retail multi-asset class profiled funds, Investment Europe reports. Onuekwusi previously worked at Aviva Investors, where he was lead manager for several profiled multi-asset class funds. At Legal & General, he will be lead manager fo the Legal & General Multi-Index range, launched on 21 August 2013.
03/09/2013

Former Lyxor manager joins Deutsche Bank

Claus Hein, former head of ETF sales for the United Kingdom, Ireland, the Netherlands and Scandinavia at Lyxor, will be joining Deutsche Bank, Financial News has learnt. He will be responsible for synthetic distribution in the United Kingdom. This will include ETFs.
03/09/2013

IMA appoints two heads of regulation

Daniel Godfrey, CEO of the Investment Management Association (IMA), on 2 September announced that it has created two seats on its executive board for directors of regulatory affairs. They go to Julie Patterson, currently director fo authorised funds & tax, for “retail & funds,” and to Richard Metcalfe, deputy head of EMEA at the International Swaps and Derivatives Association (ISDA), for the “institutional & capital markets” portion.The IMA will also create an office of the director for risk, compliance and legal affairs, which will be occupied by Guy Sears, currently director, institutional.The recruitment of a COO as an addition to the executive committee is also in progress.
03/09/2013

Fauchier Partners veteran founds own firm

Dan Higgins, former chief investment offier at Fauchier Partners, will this week launch his own asset management boutique, Marylebone Partners, Financial News reports.
03/09/2013

Old Mutual Wealth appoints three independent directors

Old Mutual Wealth Management, the holding company of Skandia and Old Mutual Global Invetors, has announced the appointment of three independent, non-executive directors, Ashok Gupta, Jane Hanson and Simon Davies.Gupta holds other non-executive responsibilities at New Ireland Assurance, AA Insurance Services, JP Morgan JP Morgan European Smaller Companies Investment Trust and eValue FE. Gupta will chair the auditing board at Old Mutual Wealth. Hanson holds other non-executive responsibilities, including one at Direct Line Insurance Group, where she is chair of the risk board. At Old Mutual Wealth, she will also be chair of the risk committee. Davies is also chairman of the JP Morgan Overseas Investment Trust and non-executive director at Grainger PLC. Davies, who was also chairman and CEO of Threadneedle, will chair the remuneration committee at Old Mutual Wealth.
03/09/2013

Ashmore launches fund dedicated to Turkish equities

Ashmore Investment Management, one of the specialist managers of emerging market debt and equity securities, on September 2 announced the launch of the Ashmore SICAV Turkish Equity Fund.The fund is an open-ended vehicle primarily investing predominantly in Turkish equity and equity related instruments issued by corporates and quasi-sovereigns. Ashmore’s globally managed funds have been major investors in Turkish equities since 1987. The asset manager further strengthened its Turkish connections when it launched Ashmore Portföy, Turkey in 2008, one of Ashmore’s first domestic asset management ventures.The SICAV Turkish Equity Fund is an open-ended daily dealing UCITS IV Luxembourg registered fund. The fund will be registered for sale in Austria, Germany, Luxembourg, Switzerland and the UK and is available in share class denominations in US Dollars, Euros, UK Sterling and other currencies.Ashmore has assets under management of USD77.4billion as of 30 June 2013.
03/09/2013

Citigroup selling off its alternative management bit by bit

Citigroup has sold assets from private equity and hedge funds in the past few months for USD6bn, in order to comply with new laws that limit the stakes that banks may hold in alternative investments, the Wall Street Journal reports. Last week, the US group sold a USD4.3bn private equity fund, Citi Venture Capital International, to Rohatyn Group, a private equity fund. On 9 August, it sold an emerging market hedge fund with USD1.9bn to the managers of the fund. Ciigroup had once been a major player in alternative investment. In February 2012, the group had USD18.6bn in assets under management in hedge funds and private equity at its affilate Citi Capital Advisors. But after the recent operations, the structure has only one fund left, the Metalmark Capital fund, with USD2.5bn in assets, which the bank is seeking to sell.
03/09/2013

Carnegie closes Swedish equity fund to new investors

The Swedish asset management firm Carnegie is closing the Carnegie Sverige Select fund, an unconstrained Swedish equity fund, to new investors. “In order to preserve our freedom, we must close the fund before it becomes too large,” explains Simon Blecher, manager of the fund. The fund, launched on 28 September 2007, now has SEK1.6bnin assets, or EUR180m. Carnegie Sverige Select, highly concentrated, has about 15 positions in its portfolio, and one single share can represent about 30% of the fund.
03/09/2013

Record QFII quotas at the end of August

The Chinese State Administration of Foreign Exchange (SAFE) has announced that in August it issued QFII quotas totalling USD1.5bn to twelve firms. This brings the total authorisations to a record USD46.443bn.Z-Ben Advisors points out that it should be remembered that the Hong Kong Monetary Authority (HKMA) has obtained an additional quota of USD500m as part of this process, bringing the total under this quota to USD1.5bn. The HKMA becomes the first operator to pass the USD1bn mark, and it is likely that SAFE will now focus on developing its QFII programme for asset owners, such as pension funds, sovereign funds, monetary authorities and charities rather than asset managers.Among the recipients of quotas issued in August, three are new: Hall Capital Partners LLC, University of Notre Dame du Lac and Greenwoods Asset Management Hong Kong Limited.

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