Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
02/06/2009
Fonds

Le nouveau ComStage est chargé à 0,30 %

Avec le ComStage ETF Commerzbank Commodity EW Index TR, le segment XTF de la plate-forme électonomique Xetra de la Deutsche Börse a accueilli jeudi son 451ème produit admis à la négociation (lire notre dépêche du 29 mai).Ce produit de droit luxembourgeois réplique l’indice de matières premières Commerzbank Commodity EW Index TR qui coiffe 16 matières premières liquides équipondées (donc à 6,25 % chacune) ; il s’agit de métaux industriels, de métaux précieux, de matières premières agricoles et d'énergie. La commission de gestion est fixée à 0,30 %.
Fonds
02/06/2009

Frank Dornseifer devient membre du comité directeur du BAI

Le directoire de l’association allemande BAI de l’investissement alternatif a nommé Frank Dornseifer membre du comité de direction responsable des affaires juridiques et du département «policy». Il est depuis 2007 directeur juridique du BAI. En fait, l’impétrant est le premier et unique membre du comité de direction. Le directoire est composé de cinq personnalités bénévoles. Le «premier président» du BAI est Achim Pütz. L’association comprend actuellement 125 membres, des sociétés comme des personnes physiques.
02/06/2009
Fonds

FTC Capital obtient l'agrément de commercialisation du Gideon I

L’autorité de surveillance financière (BaFin) a octroyé l’agrément de commercialisation en Allemagne au fonds de fonds long/short Gideon I du gestionnaire viennois FTC Capital, rapporte Das Investment. Ce fonds lancé le 16 janvier 2006 utilise un modèle de suivi de de tendance et peut être investi à 100 % en cash si aucune tendance n’est décelable. La performance au 30 avril depuis le lancement ressort à 3,54 % ; depuis le début de l’année, elle se situe à 2,29 %.
Fonds
02/06/2009

KKR accuse une forte perte

Le capital-investisseur Kohlberg Kravis Roberts & Co. (KKR) a accusé pour 2008 sa première perte depuis cinq ans à cause de la crise du crédit, indique la Frankfurter Allgemeine Zeitung. Cette perte s’est située à 1,2 milliard de dollars avant impôt, contre un bénéfice de 815 millions pour 2007.KKR estime que cinq des dix plus grandes sociétés de son portefeuille cotent actuellement en-dessous du prix auquel il les a achetées. Le capital-investisseur dispose encore de 15,2 milliards de liquidités à investir.
02/06/2009

Citi et Merrill se renforcent dans le prime brokerage

Citigroup et Bank of America Merrill Lynch renforcent leurs équipes qui fournissent des services aux hedge funds, rapporte le Wall Street Journal. Citigroup a ainsi ajouté 18 personnes à son pôle de prime brokerage, à 295 collaborateurs, tandis que Bank of America Merrill Lynch prévoit de recruter 40 personnes dans son activité de financement, incluant le prime brokerage.
02/06/2009

Naissance de Morgan Stanley Smith Barney

La joint venture de gestion de fortune de Morgan Stanley et Smith Barney (groupe Citigroup) a débuté ses activités lundi, rapporte le Financial Times. Appelée Morgan Stanley Smith Barney, l’entité affiche 6,8 millions de clients, 14 milliards de dollars de revenus prévus et 18.500 conseillers.
02/06/2009

Guillaume Detrait rejoint Welton

Vice president of strategy and analytics chez HSBC en Californie, Guillaume Detrait rejoint Welton Investment Corporation comme managing director et chief risk officer. Il sera basé au siege de Welton, à Carmel (Californie) et «reportera» directement au CEO, Patrick Welton. L’intéressé est entre autres diplomé de l’ESC Reims.
02/06/2009

Ofi AM reprise à 100 % par la Macif et la Matmut

Selon L’Agefi quotidien, la Macif et la Matmut, en cours de rapprochement avec la Maif, ont repris la participation de 40 % des salariés d’Ofi Asset Management. Les deux groupes mutualistes détiennent désormais 100 % du capital de la société de gestion. Le groupe Ofi gère aujourd’hui 17 milliards d’euros.
02/06/2009

Traders, leur univers impitoyable

Un univers assez impitoyable. C’est ainsi qu’est décrit le monde des traders, rapporte la Tribune, en reprenant les conclusions d’un rapport de 150 pages demandé par les élus du personnel de la Société Générale, et portant sur les conditions de travail de cette catégorie de professionnels. L’étude en question présentéele 14mai par le cabinet Technologia, au terme d’une enquête réalisée auprès de 779 employés des salles de marchés, débouche sur cinq préconisations. La direction de la banque a assuré prendre au sérieux les problèmes relevés.
02/06/2009

Le capital-investissement doit contribuer à la sortie de crise

Dans un entretien aux Echos, le président sortant de l’Association française des investisseurs en capital, Pierre de Fouquet, estime que «le capital-investissement n’est pas en faillite. Si les fonds ont enregistré une baisse des valorisations, leur véritable performance ne sera connue qu’au terme de leur durée de vie, quand l’ensemble des participations aura été cédé. Au contraire, l’industrie peut et doit contribuer à la sortie de crise en injectant des capitaux dans les entreprises en recherche de fonds propres».
02/06/2009

Baudoin Prot à la tête de la FBF

Selon Les Echos, Baudoin Prot, administrateur directeur général de BNP Paribas, devrait prendre la suite de Georges Pauget, directeur général de Crédit Agricole, à la tête de la Fédération bancaire française (FBF) à compter de septembre. Et François Pérol, le patron du futur groupe Caisse d’Epargne-Banque Populaire, pourrait prendre la vice-présidence.
02/06/2009
Fonds

Midcaps françaises : les poches de croissance de Cogefi Gestion

Olivier de Royère, gérant des FCP actions Cogefi Prospective et Cogefi France chez Cogefi Gestion, continue de privilégier le scénario d’une sortie de crise très progressive. Dans la composition du portefeuille de Cogefi Prospective, investi sur des midcaps françaises, le gérant choisit en priorité trois types de valeurs. En premier lieu, Olivier de Royère recherche des entreprises «intrinsèquement sous valorisées» à l’image de la société Arkema, achetée en mars «alors que le titre ne valait que 30% de ses fonds propres», explique le gérant. Il évoque également le cas du cimentier Vicat, «pourtant extrêmement bien géré et qui a su conserver un bilan beaucoup plus solide que les grands du secteur». Le second type de valeurs attractives sont celles liées à l’efficacité énergétique et aux énergies renouvelables et capables de créer de la valeur. Olivier de Royère cite notamment Nexans, Faiveley ou encore Saft. Enfin, le gérant de Cogefi Prospective couvre le thème de la consommation émergente via Seb. «Le leader mondial du petit électroménager est la valeur de consommation française la mieux placée pour bénéficier de la croissance de la demande dans les pays émergents ou elle réalise 45% de ses ventes depuis le rachat du chinois Supor», précise-t-il.
Fonds
02/06/2009

Caja España launches a guaranteed fund based on gold

Caja España Fondos has launched a guaranteed fund to allow investors to profit from the rising price of gold, entitled Fondespaña Oro Garantizado. The NAV of the fund is guaranteed between 25 June, the end of the sales period, and 20 December 2013. The product offers a maximal participation of 70% in appreciation on the London Gold Market Fixing Limited PM Fix Price / USD Index, Funds People reports. Returns will be limited to 12.543%.If, during the life of the product, any of the daily measurements of the price of gold is more than 70% above the price on 25 June, Caja España guarantees a return of 108% of the initial NAV of the investment, rather than the complement which would otherwise be paid out to the investor.
02/06/2009

Ofi AM is now fully owned by Macif and Matmut

According to Agefi, mutual insurer Macif and Matmut, which are in the process of merging with Maif, have taken over the 40% interest of Ofi Asset Management which was held up to now by Ofi employees. The two insurers now hold 100% of the asset manager’s capital.Ofi has about EUR17bn under management.
02/06/2009

Guillaume Detrait joins Welton

The vice president of strategy and analytics at HSBC in California, Guillaume Detrait, is joining Welton Investment Corporation as managing director and chief risk officer. He will be based at Welton’s headquarters in Carmel, California, and will report directly to the CEO, Patrick Welton. Detrait has degrees from ESC Reims and other institutions.
02/06/2009

Banca Fideuram reportedly up for sale

Il Messaggero reports that Intesa Sanpaolo is planning to sell Banca Fideuram, its private banking and financial advising unit. Santander and BNP Paribas are rumoured to be interested in the acquisition, the Italian newspaper adds.
02/06/2009

GLG appoints Andrew Thatcher and Richard Philips to head British activities

Money Marketing reports that GLG Partners has announced the appointment of Andrew Thatcher and Richard Philips as heads of its UK activities. Thatcher becomes head of hedge fund distribution in the UK while Philips has been director of SGAM UK’s retail activities, recently acquired by the Société Générale group, since 1998.
02/06/2009

Hermes creates a lobbying group for hedge fund transparency

Hermes (GBP30bn), which manages the BT pension fund, has formed an action group to put pressure on hedge funds to share more information about the composition of their portfolios, and to push for higher liquidity in these funds and for commissions which only reward managers when they produce good performance, the Sunday Times reports. Hermes has also placed GBP900m with Hermes BPK Partners, led by Matteo Dante Perruccio, to invest in hedge funds.
02/06/2009

Castle Alternative Invest plans offering on LSE

Following a decision by a general shareholders’ meeting on 19 May, the Swiss fund of hedge fund management firm Castle Alternative Invest (located in Pfäffikon, Schwyz canton) has published a prospectus for a secondary public offering on the London Stock Exchange (LSE) on 5 June 2009, of ordinary shares in the firm, which are already traded in Swiss francs and US dollars on the Swiss stock exchange (SIX). The shares will be traded in dollars; the objective of the share offering is to attract new investors and to bring the share price out of its current slump (they were trading at a markdown of 30.57% as of 15 May). Assets, which are invested in 35 hedge funds, totalled USD546m as of 15 May. The sponsor for the offering will be BRS Hoare Govett.The portfolio, composed as of 31 March of long/short equity funds (11.6%), event-driven (16%), relative value (19.3%), and CTA/macro (36.5%), is managed by LGT Swiss Life Non Traditional Advisors AG, a Liechtenstein firm controlled 56.3% by the Fondation LGT Group, and 43.7% by Swiss Life. The manager is advised by LGT Capital Partners Ltd, the alternative management affiliate of the Fondation LGT Group.As of 31 March, the fund shows annual performance over 5 years of 2.56%, compared with losses of 4.91% for the MSCI World in US dollars, with volatility of 6.28%, compared with 14.27% for the index. In the period from 1 January 1997 to 31 March 2009, annual net performance totals 6.6%, compared with 0.3% for the MSCI World.
02/06/2009

Henderson to play super-nanny

Das Investment reports that Henderson New Star has confirmed suggestions in Citywire and Money Marketing that it is planning to place Richard Pease, the star manager of the New Star European Growth fund, to manage the new Henderson European Special Situations Fund, which will be launched at the end of Summer. The product will invest in solid companies, largely midcaps, which are undervalued because they are experiencing temporary liquidity problems, or because they may be takeover targets.
02/06/2009

Former Henderson head accepts responsibilities at F&C

F&C Asset Management has appointed Roger Yates, former CEO of Henderson, and Kieran Poynter of PricewaterhouseCooper, as non-executive directors, Citywire reports. Yates will join the remuneration board at F&C.
02/06/2009

Vanguard in bid for iShares

The Telegraph reports that Vanguard has submitted a bid of EUR5bn to acquire iShares, the ETF affiliate of Barclays. The British newspaper says Vanguard had no comment on the reports.
02/06/2009

SEB ImmoInvest reopens to redemptions

SEB Asset Management has announced that a suspension imposed on redemptions of shares in the open-ended real estate fund SEB ImmoInvest was lifted on 29 May. The reopening means the fund has respected its pledge to reopen within 9 months of the suspension.Since the redemption freeze at the end of October, the liquidity of the fund has improved thanks to net subscriptions of more than EUR180m. In total, including flexible lines of short-term credit, the fund has liquidity of about EUR1.1bn.The SEB ImmoInvest fund earned returns in the period to 31 March of 5%, and the manager will pay out a dividend on 19 June of EUR2.10 per share.SEB Am will also create a special category of shares in the fund for legal entities, to comply with forthcoming legislation.
02/06/2009

Frank Dornseifer joins the board of directors at BAI

The board of the German alternative investment association BAI has appointed Frank Dornseifer as a member of the board of directors, in charge of legal affairs and the policy department. Since 2007, he has been the legal director of BAI. In fact, Dornseifer is the first and only member of the board of directors. The board consists of five unpaid volunteer members. The “first president” of BAI is Achim Pütz. The association currently includes 125 members, including companies as well as individuals.
02/06/2009

0.30% fees for new ComStage ETF

With the ComStage ETF Commerzbank Commodity EW Index TR, the XTF segment of the Xetra electronic platform from Deutsche Börse has admitted its 451st product to trading (see Newsmanagers of 29 May).The Luxembourg-registered product replicates the Commerzbank Commodity EW Index TR index, which includes 16 equally weighted liquid commodities (at 6.25% each); these include industrial metals, precious metals, soft commodities, and energy. Management commission is set at 0.30%.
02/06/2009

Reshuffle in asset management at Barclays

Barclays will concentrate its pan-European analysis for bond and money market funds in Madrid, while Paris will focus on European equities, Expansión reports. The British bank has EUR20bn in assets under management in Spain, France, and Portugal. Each country will continue to manage its own funds, but the pan-European centres will provide investment ideas for managers. The reshuffle will give the Spanish affiliate (EUR4.5bn in assets) more weight within the European structure. It will have a team of 6 people, equivalent to 12% of total personnel, and a local asset management affiliate. This will include the recruitment of a commercial director and an analyst specialised on rate curves. A position for a head of credit and corporate bonds will be filled through an internal transfer.
02/06/2009

Threadneedle closes acquisition of World Express from StanChart

On Monday, Threadneedle announced that it had successfully completed the acqusition of World Express Funds, announced nearly four months ago (see Newsmanagers of 4 February). The vendor of the Luxembourg Sicav platform is Standard Chartered Bank (StanChart), which itself acquired the platform as part of its acquisition of the activities of American Express Bank.Assets in the Sicav as of 30 April totalled USD2.38bn. At the time the deal was announced, it was stated that as of the end of December, assets under management in World Express funds totalled USD2.7bn as of the end of December.Threadneedle views the operation as an opportunity to strengthen its presence in European and Asian markets, while StanChart says that it does not have any activities of this type, but that the World Express funds could quickly provide synergies and other benefits for a fund management firm. Threadneedle also becomes a strategic partner and preferred provider of services to StanChart funds.
02/06/2009

Putnam opens an Amsterdam office

Putnam Investments has opened a sales office in Amsterdam, a few months after closing its office in Italy, Financial News reports on 28 May.
02/06/2009

Henderson GI launches a London office property fund

Henderson Global Investors is launching the Henderson Central London Office Fund II, a closed absolute return fund with a 7-year horizon, “constructed to take advantage of the cycle in the central London office real estate market and emerging opportunities in this market,” the fund management firm says in a statement.The fund, which is not licensed by the French market regulator, Autorité des marchés financiers (AMF), is aimed at British and international institutional investors. It aims for an annual ROI of 12%.Henderson is seeking to raise up to GBP200m for a first closing at the end of 2009, and is planning to eventually raise up to GBP500m.The Henderson Central London Office Fund II will be managed by Clive Castle and Nick Deacon.
02/06/2009

Funds merged at Griffin

Griffin Capital Management has decided to merge its European Hedge fund, which was not open to retail investors, with the Griffin European Opportunities. The two funds suffered heavily from the financial crisis, and now represent a total of no more than EUR50m, Das Investment reports. The fund merger follows the resignation of Harald Wengust, who was director of western European fund management activities. The new European Opportunities fund will be managed by Markus Resny, who was previously the manager of the hedge fund.

Sujets d'actualité

Tous les sujets