Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
20/10/2011

Regulatory green light for real estate fund activities at Universal-Investment

BaFin, the German financial services watchdog, on 19 October issued a license for the launch and administration of real estate funds to Universal-Investment, which had applied for the license to create an operation in the institutional fund segment.Bernd Vorbeck, chairman of the executive board at Universal, says that the first mandates have already been received, and that talks are underway with several institutional investors and asset management firms. The new real estate platform represents a logical extension of the fund accounting and administration (Master-KAG) range aimed at institutionals; it also allows asset management firms to locate a neutral platform for real estate fund projects for their clients.At the same time as the license for real estate funds, Universal-Investment has also been granted permission to launch and manage hedge funds, infrastructure funds, employee savings funds, and funds with a European passport.
20/10/2011

max.xs recruits a director of institutional sales

Ilona Wachter, who had been managing director and head of Germany at Muzinich and Aviva Investors, has joined max.xs as institutional sales director. She will report to Oliver Roll, managing director of the Frankfurt-based independent (B2B) distribution specialist max.xs, which has also announced that it is still seeking one recruitment for senior institutional sales.This year, max.xs has taken on three major clients: Kleinwort Bension Investors Dublin, Rothschild & Cie Gestion and Wölbern Invest.
20/10/2011

State Street selected by a Dutch pension fund

State Street Corporation has announced that it has been selected by the Netherlands pension fund Stichting Pensioenfonds SABIC Innovative Plastics to provide investment services on EUR700m in assets. State Street will offer securities custody, accounting, monthly performance measurement and overlay strategy services for currency risk hedging.
20/10/2011

Dow Jones releases a European version of DJIA

Dow Jones has released a European version of the emblematic Dow Jones Industrial Average (DJIA) for the United States. Since the beginning of the year, the index provider has offered six European indices dedicated to dividends, and two European real estate indices. Dow Jones has also releases an Asian version of the DJIA. The indices are each composed of 30 top shares from the region. The European index includes five French, five German, nine British, four Swiss, two Spanish and two Swedish companies. The French firms are BNP Paribas, Vivendi, Vinci, Schneider Electric and Total.
20/10/2011

Big investors call for action on climate change

A group of 285 investors representing more than USD20trn in assets under managemetn has called for urgent action on climate change issues. In a joint statement, the large investors say there is a need for immediate action to stimulate private sector investment in solutions to combat climate change, which is essential to ensure “the long-term sustainability and stability of the global economic system.”
20/10/2011

State Street posts decline in assets in third quarter

For third quarter, State Street Corporation has announced profits of USD1.10 per share, up from USD1.08 per share in third quarter 2010. Compared with the previous quarter, the increase in profits per share is 10%. Assets under management of USD1.877trn represent an 11.3% decline from asset levels as of the end of June (USD2.166trn). Year on year, the decline is 4.2%, when assets are compared with levels as of second quarter 2010.
20/10/2011

BlackRock made nearly USD600m in profits in third quarter

BlackRock has reported a net profit for the third quarter of its fiscal eyar of USD595m, up 8% compared with third quarter 2010, but down 4% compared with second quarter 2011, according to a statement released on 19 October. Assets under management as of the end of the quarter totalled USD3.345trn, down 3% year on year, and 9% compared with the end of second quarter, largely due to a negative market effect of USD303.9bn for all products taken together. Assets under management in equities totalled USD1.441bn, down 18%, or USD307.7bn, largely due to negative market and currency effects of USD309.5bn. Net inflows contributed USD1.8bn, reflecting net subscriptions of USD9.8bn for index-based products, which were partially offset by net redemptions of USD8bn from active management. In bonds, assets under management totalled USD1.205trn, up 2%, or USD19.4bn, due to positive market and currency effects totalling a net USD33.3bn. Net outflows of USD14bn include a redemption of USD9.1bn to a single client under short-term constraints, BlackRock states. Assets under management in multi-asset class products totalled USD215.2bn, down 7%, ro USd16.1bn, as net inflows of USD2.9bn were wiped out by currency and market effects of USD19bn.
20/10/2011

Assets at BNY Mellon dip in third quarter

As of 30 September, assets under management at BNY Mellon Corp totalled USd1.198trn, compared with USD1.274trn as of 30 June, and USD1.141trn one year earlier.Assets under management and administration totalled USd25.9trn, 2% less than at the end of first half, and 6% more than on 30 September 2010.The firm says that long-term net inflows totalled USD4bn in second quarter.An increase in assets under management year on year is the result of net subscriptions. However, in third quarter, long-term inflows were more than offset by the negative effects of equity marktes and outflows from short-term products.Management and performance commission revenues totalled USD729m, 6% less than in second quarter, and 5% more than in the corresponding period of 2010.
20/10/2011

Dexia agrees sale of asset management unit

The board of directors at Dexia voted at a meeting on 20 October to begin the process of selling some operational entities of the group, including Dexia Asset Management and Dexia Investor Services.Dexia and the Belgian government finalised the sales agreement for Dexia Banque Belgique to the Belgian federal participation and investment company (SFPI), acting on behalf of the Belgian government, under the terms and conditions of the offer made to Dexia SA on 9 October.Dexia Banque Belgique’s 49% stake in Dexia Asset Management will be transferred to the Dexia group before the transaction is completed, pending the approval of the regulatory authorities. The sale thus includes all assets and liabilities, affiliates and participates of Dexia Banque Belgique as of the date of closing, except its participation in Dexia Asset Management.
20/10/2011

Alain Zeitouni joins Russell

Alain Zeitouni has joined Russell Investments in Paris in October as director of multi-strategy management, according to information obtained by Newsmanagers. He had previously been director of multi-management at Barclays Wealth Management in France, since June 2006.
20/10/2011

Mixed quarterly results for asset management activities at Morgan Stanley

Global wealth management earned pre-tax profits in third quarter of USD362m, compared with USD281m in second quarter 2010. The asset management unit, for its part, finished the quarter with pre-tax losses of USD117m, compared with profits of USD279m one year earlier. Total assets under management for clients in the Global Wealth Management unit as of the end of the quarter totalled USD1.6trn, of which USD465bn were in fee-based accounts, which posted net inflows of USD10.1bn. Assets under management or supervision in the Asset Management unit as of 30 September totalled USD268bn, up from USD266bn one year earlier. The quarter brought a net outflow of USD5.8bn, compared with a net inflow of USD2.9bn one year earlier.
20/10/2011

Direxion to launch new strategies

AR reports that Direxion Funds (Rafferty Asset Management) is planning to launch at least three new strategies resembling hedge funds, but in a mutual fund format, in 2012. The new funds will invest in managed futures, real estate equities and long/short strategies.
20/10/2011

Lyxor AM publishes a quality charter for ETFs

Lyxor AM has laid out a quality charter for its ETF products. The charter includes guidelines concerning the quality of asset management, index tracking, transparency, counterparty risk, and trading rules for primary and secondary markets.The charter goes beyond some of the requirements of the European UCITS directive, Lyxor AM states. Firstly, as Alain Dubois, chairman of the asset management firm, recently explained to Newsmanagers (see Newsmaangers of 17 October 2011), in terms of transparency, Lyxor releases key information such as assets in the fund, counterparty risk levels and the characteristics of counterparties for derivative operations, on a daily basis.The firm has also set an objective of zero daily counterparty risk for all of its ETFs, which is well below the maximum of 10% allowed under the UCITS directive. Secondly, tracking error, with an objective of less than 100 basis points (1%) at all times, is published for each ETF. All of these financial securities are held in separate accounts for the funds concerned.
20/10/2011

Assets under management in investment funds up slightly

Assets under management in investment funds in Switzerland totalled about CHF615bn in September 2011, about CHF4bn more than the previous month, according to statistics from Swiss Fund Data SA and Lipper, published on 19 October. Capital outflows totalled barely CHF5bn, reflecting investors’ current disorientation. As of the end of September 2011, the total volume of funds totalled CHF614.7bn, of which about CHF221.2bn were for Swiss funds aimed at institutional investors. These funds have gained some ground recently, and represent more than one third of the market as a whole. Of this total, CHF163bn were for Swiss funds aimed at qualified investors, and barely CHF55bn for institutional asset classes of foreign investment funds licensed for sale in Switzerland. Compared with the previous month, redemptions continued in September, fed by concerns of a downturn in global conjuncture and an aggravation of the euro crisis. Monthly outflows were at their highest since October 2008, at CHF4.7bn. Despite that fact, assets under management valued in Swiss francs increased by about CHF3.6bn. The intervention of the Swiss national bank to tie the Swiss franc to the euro led to a revaluation of all funds denominated in foreign currencies, particularly on the money and bond markets. Of the total volume on the Swiss fund market. Only 48% of funds keep their books in Swiss francs, while the remaining 52% of funds do so in foreign currencies, with 26% keeping their books in euros, and 22% in US dollars.
20/10/2011

Le LSE à l’affût pour la cotation des PME

Le quotidien souligne que «plusieurs dizaines» d’acteurs de la place sont actuellement interrogés dans le cadre de la mission Giami-Rameix sur le financement des PME. Parmi les pistes évoquées figure la création d’un marché concurrent de l’opérateur historique, sous la houlette du London Stock Exchange et sur le modèle de l’AIM. Un marché créé en 1995 et fort de 1.156 sociétés.
20/10/2011

Iceland Foods aiguise les appétits

William Morrison Supermarkets et Asda figurent parmi les six prétendants au premier tour d’enchères pour la reprise d’Iceland Foods. TPG, Bain Capital, Blackstone et BC Partners sont aussi sur les rangs. La cible serait valorisée entre 1,3 et 1,5 milliard de livres selon le quotidien, soit de 1,5 à 1,7 milliard d’euros.
20/10/2011

Le résultat d’exploitation de Deutsche Börse en hausse de 35%

L’opérateur boursier allemand, qui prépare sa fusion avec Nyse Euronext, a vu son bénéfice opérationnel (Ebit) croître de 35% sur un an au troisième trimestre, à 330 millions d’euros, tandis que son chiffre d’affaires s’est apprécié de 20% à 605 millions d’euros. Deutsche Börse a comptabilisé un gain de 94 millions d’euros sur la période lié à l’acquisition d’Eurex.
20/10/2011

La Fed note un assombrissement des perspectives

L'économie américaine a poursuivi sa croissance sur un rythme lent en septembre, mais ses perspectives semblent s’assombrir, estime la Réserve fédérale dans son «Livre beige» publié hier. Le document relève que «l’activité économique dans son ensemble a continué à progresser en septembre, même si beaucoup de districts ont décrit le rythme de croissance comme «modeste» ou «faible» et les contacts ont généralement constaté un affaiblissement des perspectives». Plusieurs districts ont constaté que bon nombre de détaillants hésitent à constituer des stocks malgré l’approche de la saison des fêtes, ce qui illustre une baisse de la confiance des ménages. Le président de la Fed de Boston, Eric Rosengren, a estimé hier lors d’un entretien accordé à CNBC que «sans aucun doute, si l’économie venait à être plus faible que la plupart des gens le prévoient, cela serait certainement une raison valable pour mettre en œuvre une politique monétaire supplémentaire».
20/10/2011

Pressions inflationnistes contenues aux Etats-Unis

L’indice d’inflation sous-jacent («core»), qui exclut l’alimentation et l'énergie, a augmenté de 0,1% en septembre (consensus: +0,2%) aux Etats-Unis après une hausse de 0,2% en août, à la faveur d’une stagnation du prix des véhicules neufs et d’une hausse modeste des loyers. Sur douze mois, l’indice «core» a progressé de 2,0% (consensus: 2,1%), comme en août.
20/10/2011

Berne ne prévoit pas d’internationaliser ses accords fiscaux

«L’Union européenne est la seule qui remplisse toutes les conditions de relations économiques très étroites, ainsi que la garantie de sécurité du droit et du bon fonctionnement de l’Etat», juge Nicolas Pictet, président de l’Association des Banquiers privés suisses. Il ajoute que «le coût pour les banques deviendrait disproportionné» si ces accords dépassaient ce cadre. La Suisse a signé des accords en août avec l’Allemagne et le Royaume-Uni.
20/10/2011

Carlyle accueille sa quatrième société espagnole

Le gestionnaire d’actifs alternatif va racheter 85% du capital de Telecable, un fournisseur espagnol de solutions pour entreprises dans le domaine de la télévision, la téléphonie et le haut débit. Les fonds proviendront de Carlyle Europe Partners III (CEP III), un fonds de 5,3 milliards d’euros constitué en 2006.

Sujets d'actualité

Tous les sujets