Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
11/03/2011

RidgeWorth to shutter three 130/30 funds

p { margin-bottom: 0.08in; } Mutual Fund Wire reports that the board of trustees at RidgeWorth Funds last week granted its approval for the liquidation of three 130/30 funds. They are the RidgeWorth International Equity 130/30 fund (USD133.15m), Real Estate 130/30 (USD12.3m), and US Equity 130/30 (USD14.1m).
11/03/2011

GAM launches a “catbonds” fund

p { margin-bottom: 0.08in; } GAM has announced the launch of the GAM FCM Catastrophe Bond Fund, which offers investors a way to gain from natural disasters such as earthquakes or tornadoes. The investment firm has formed a partnership with Fermat Capital Management, a specialist in catbonds. Minimal subscription for the fund is USD25,000.
11/03/2011

Pension fund and BNY Mellon in disagreement

p { margin-bottom: 0.08in; } According to documents obtained by the Wall Street Journal under the California Public Records Act, the Los Angeles County Employees Retirement Association pension fund is accusing BNY Mellon, its custodian, of failing in its fiduciary duty by making money on currency transactions initiated to facilitate the fund’s investments in foreign securities. The bank contests the conclusion, and claims that it was acting as a counterparty for the fund and its managers.
11/03/2011

AMF issues a warning over activities of Altanus

p { margin-bottom: 0.08in; } The French financial market watchdog, the Autorité des marchés financiers (AMF), issued a warning on 10 March over the activities of the company Altanus Limited, whose headquarters are located in the Netherlands, and its websites, swissmoneyreport.net and smr-news.com.The firm sends faxes to machines at businesses, as well as the phone numbers of private individuals, entitled “Swiss Money Report,” which contain highly optimistic views of the financial situation of companies listed on foreign markets (with limited market capitalisation), and predicting potential returns on very large investments, with predictions that share prices will rise by more than 50% in the short term, and over 200% in the mid-term.The AMF has warned investors that “such potential gains also presuppose significant potential losses, which may be accompanies by very high price volatility.” The AMF also states that the Swiss Money Report mentions a conflict of interest, as the publishers of the Swiss Money Report reserve the right to buy or sell shares in the businesses contained in the reports at any time. As a result, “the AMF recommends a high level of caution on the part of investors, and in general, invites the public to examine suggested investments which promise high returns, and not to pass these on to others in any form.”
11/03/2011

Investment firms increase spending on lobbying

p { margin-bottom: 0.08in; } A wave of regulation now washing over the asset management industry in the wake of the financial crisis is leading major players in the United States, who are generally quiet in political matters, to make their voices heard, the Wall Street Journal reports. OpenSecrets.org reports that BlackRock spent nearly USD1.7bn on lobbying activities in 2010, compared with USD390,000 in 2009, and nothing in 2006. Fidelity Investments has increased its spending from 21% last year to USD3.5m. Legg Mason, for its part, spent USD1.07m last year, compared with USD580,000 in 2009. Vanguard Group spent USD1.2m last year, which remains stable compared with 2009, but more than double its lobbying spending in 2006.
11/03/2011

Solit releases a silver mine fund in Germany

p { margin-bottom: 0.08in; } The Hamburg-based wealth management firm Solit Management GmbH on 11 March will unveil the Liechtenstein-registered, UCITS-compliant fund FS Gold & Silver Reserve Fund, founded on 22 June last year, which has received a sales license for Germany. The product will be denominated in Swiss francs, and will specialise in shares in companies that operate silver mines (which represent 70% of the portfolio). The product is managed by Adrian Morgen at Everest Wealth Management (Liechtenstein). As of 3 March, the performance of the fund was 73%. Characteristics Name: FS Gold & Silver Reserve Fund ISIN code: LI0112163931
11/03/2011

Clariden Leu gets a new CEO

p { margin-bottom: 0.08in; } Clariden Leu on 10 March announced the appointment of Olivier Jaquet, doctor of law, as CEO with immediate effect, specialised in tax and insurance law. The former CEO, Hans Nützi, will become senior advisor to the chairman of the board of directors at Clariden Leu, Peter Eckert, former CEO for insurance operations at the Zurich group. Eckert has spoken explicitly of a new growth phase, with a concentration on selected regions and client segments. Last year, assets under management at Clariden Leu fell from CHF103bn to CHF96bn.Jaquet began his career at SBS before joining Credit Suisse in 1999. Jaquet has served in various management roles in private banking and Winterthur Assurances, which was then owned by Credit Suisse. He was appointed CEO of the Credit Suisse trust in 2006. The Credit Suisse affiliate, founded in 1910, is active in the area of inheritance planning, and manages over USD100bn in assets.
11/03/2011

Mirabaud recruits a head for its alternative investment marketing unit

Bertrand Bricheux is joining Mirabaud to boost the marketing of alternative investments. He has been appointed head of hedge funds marketing and business development, with the task of seeing through the development strategy for funds of hedge funds and strengthening institutional distribution of the full Mirabaud product offering.As a specialist in the world of alternatives, Bertrand Bricheux has worked in hedge fund and fund of hedge fund marketing and distribution for a range of institutional investors, including Citigroup, UBP and Allianz Hedge Fund Partners, where he was a founding partner.
11/03/2011

Aviva Investors obtains a license in Taiwan

Aviva Investors has announced that it has received a Securities Investment Consulting Enterprise (SICE) licence for Taiwan from the Financial Supervisory Commission. The licence allows the asset manager to open its own subsidiary and offer a broad range of products in Taiwan to both retail and institutional clients. Since entering Taiwan market in 2008, the licence means that Aviva Investors will have an official presence in Taiwan that allows it to provide on the ground services to local distributors and clients. Aviva Investors has two segregated mandates - Global High Yield and Emerging Market Bonds - and 13 registered SICAV funds in Taiwan.Aviva Investors also recently received its Capital Markets Services licence in Fund Management for Singapore.
11/03/2011

Assets up at Legg Mason and Invesco

p { margin-bottom: 0.08in; } Legg Mason has announced that its assets as of the end of February totalled USD672.7bn, compared with USD671.8bn two months earlier. Equities assets totalled USD188.7bn, compared with USD185.6bn at the end of January, and USD184.2bn at the end of December, while bond assets totalled Usd353.4bn, compared with USD352.9bn and USD355.8bn, respectively. Money market funds, meanwhile, were down to USD130.6bn, compared with USD133.3bn at the end of January, and USD131.8bn as of the end of December.The fund manager explains that its assets were set back by the exit of an Asian equities manager, which reduced the total by about USD2.2bn.At Invesco, total assets as of 28 February totalled USD641.1bn, compared with USD623.1bn one month earlier, and USD616.6bn as of the end of December, while equities products accounted for USD304bn, compared with USD300bn at the end of January, and USD294.1bn two months earlier. Assets in UIT ETF and passive funds totalled USD88.7bn, compared with USD85.5bn and USD80.8bn, respectively.February’s increases are due to market appreciation, institutional investment subscriptions, and appreciation of other currencies against the US dollar.
11/03/2011

Russell recruits a head of defined contribution from AllianceBernstein

p { margin-bottom: 0.08in; } Richard Davies, senior managing director, defined contribution & sub-advisory relationships at AllianceBernstein, will be joining Russell Investments on 1 June as managing director, defined contribution. He will become the new head of Russell’s activities in the area of defined contributions, which as of the end of December represented USD67bn in advisory assets and USD20bn in assets under management worldwide.
11/03/2011

Franklin Templeton appoints a head of sales to RFAs

p { margin-bottom: 0.08in; } Franklin Templeton has announced the appointment of Pierre Caramazza as head of sales to Registered Financial Advisers in the United States. Caramazza has several years of experience at the firm, most recently as head of the Fixed Income Product Management division.
11/03/2011

Former McKinsey partner testifies in Galleon trial

p { margin-bottom: 0.08in; } Anil Kumar, a former partner at McKinsey, has testified in the trial of Raj Rajaratnam, the founder of Galleon, that he shared confidential client information with Rajaratnam, because he felt indebted due to personally receiving USD500,000 per year in consulting fees from him, the Financial Times reports. He told of how Rajaratnam advised him to open a Swiss bank account and an offshore account invested with Galleon, using the name of his housekeeper in order to avoid detection.
11/03/2011

Le Conseil de coopération du Golfe aide deux de ses membres

Le Conseil de coopération du Golfe réuni jeudi à Ryad a annoncé le déblocage d’une aide de 20 milliards de dollars sur dix ans destinée à améliorer les infrastructures et les logements d’Oman et de Bahreïn, ses deux Etats membres les moins riches, touchés par la vague de révoltes qui souffle sur le monde arabe.
11/03/2011

Bruxelles reste à l'affût sur les agences de notation

La Commission européenne a déclaré hier qu’elle approfondirait encore la régulation des agences de notation, alors que ces dernières sont à nouveau sous le feu des critiques après les dégradations des notes grecque lundi et espagnole hier. «Une nouvelle révision en profondeur des règles applicables aux agences de notation est nécessaire», ont indiqué les commissaires européens Michel Barnier et Olli Rehn. «Nous pouvons assurer que les réformes seront fondamentales et s’attaqueront aux nombreux problèmes qui continuent d’exister», ont-ils ajouté, précisant que les derniers jours avaient mis en évidence la nécessité d’un environnement régulé pour les notations. Les réformes envisagées viseront à apporter plus de concurrence au secteur, domimé par Standard & Poor’s, Moody’s et Fitch, et chercheront à réduire la dépendance aux notes, à améliorer leur qualité et à réduire les conflits d’intérêts dans le secteur.
11/03/2011

Le déficit commercial américain se creuse plus qu'attendu

Le déficit commercial des Etats-Unis s’est creusé plus que prévu en janvier en raison de l’envolée des importations de pétrole, d’automobiles et de biens d'équipement, selon le département du Commerce. La balance des échanges affiche un déficit de 46,34 milliards de dollars, alors que le marché attendait un «trou» de 41,5 milliards. En décembre, le déficit s'était élevé à 40,3 milliards.
11/03/2011

Schroders signe un grand millésime 2010

Le gérant britannique a quasiment triplé son résultat avant impôt l’an dernier, à 406 millions de livres. A fin 2010, Schroders affichait 197 milliards de livres d’actifs (contre 148 milliards fin 2009). A 27 milliards, la collecte nette a presque doublé.
11/03/2011

Duke Street investit dans la gestion

Le fonds de capital-investissement a pris une participation majoritaire dans la société UK Wealth Management, un spécialiste de la gestion de patrimoine et de l’épargne salariale en Grande-Bretagne. Le montant n’est pas communiqué. Duke Street, qui a déjà investi en 2010 dans Payzone (paiements) et Marlin (rachat de crédits), a fait des services financiers un secteur privilégié.
11/03/2011

UFG Rem augmente ses investissements

La filiale de gestion immobilière d’UFG LFP prévoit d’investir 500 millions d’euros en 2011, soit 25% de plus que l’an dernier. Une enveloppe minimale de 300 millions est prévue pour les SCPI et OPCI du groupe, ainsi qu’un plan d’arbitrage de 80 millions, et enfin 120 millions dans le résidentiel neuf.
11/03/2011

Le FRR s’adapte à son nouveau modèle

Face à ses engagements envers la Cades, le fonds articule sa stratégie autour de deux poches, de couverture (60% de l’actif net) et de performance.
11/03/2011

Deutsche Börse pourrait se laisser diluer au sein de Direct Edge

L’opérateur de la Bourse de Francfort pourrait solliciter des investisseurs bancaires afin de laisser diluer sa participation au capital de la plate-forme américaine. Cela afin d’atténuer les critiques potentielles des autorités de la concurrence aux Etats-Unis dans le cadre du projet de fusion entre Deutsche Börse et Nyse Euronext.
11/03/2011

L'immobilier en manque d'actifs sécurisés

Le Mipim, salon international de l’immobilier, se clôt sur un bilan plutôt positif. Mais derrière la stabilisation du marché, les investisseurs - au rang desquels les fonds souverains montent en puissance - sont confrontés à une pénurie de biens de premier choix.
10/03/2011

Le FRR s’adapte à ses obligations envers la Cades

Le Fonds de réserve pour les retraites (FRR), qui a enregistré une performance de 4,2% sur 2010, adapte sa stratégie à ses nouveaux engagements, des versements annuels à la Cades. «Notre approche est basée sur le modèle LDI (basé sur le passif). Il s’agit de sécuriser le paiement du passif, puis d’essayer de faire de la performance», a expliqué Philippe Aurain, directeur financier du FRR. Pour ce faire, le FRR a mis en place deux grandes poches d’actifs. La première, de couverture, représente quelque 60% de l’actif net et intègre des actifs sécurisés (obligations d’Etat et crédit investment grade). La seconde, de performance (actions, actifs réels, obligations high yield…), correspond au solde du portefeuille et mettra l’accent sur les marchés émergents.
Photo: PHB/Agefi

Sujets d'actualité

Tous les sujets