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10/04/2014

Growth in assets under management at BayernInvest of 13% in 2013

P { margin-bottom: 0.08in; } Assets under management at BayernInvest (Bayerische Landesbank group) last year rose 13.4%, to a total of EUR48.8bn, according to a statement from the firm. This double-digit growth is related largely to strong activities for institutional funds and mandates, with growth of EUR5.7bn, or 16.1%. However, assets under management in open-ended funds have remained stable. Pre-tax profits were up 13.8%, to over EUR7bn. The cost/income ratio improved to 77.5%, from 78.8% the previous year. The firm this year hopes to top EUR50bn in assets under management, with an enrichment of its range of products and services. The client portfolio at BayernInvest includes 40% insurance companies, savings banks (20%), pension funds (19%) and corporates (about 11%).
10/04/2014

BNP Paribas IP to launch an asset management firm in Mexico

P { margin-bottom: 0.08in; } BNP Paribas Investment Partners (IP) is planning to launch an asset management firm in Mexico in 2014, as part of its development policy in Latin America, Ligia Torres, head of Asia-Pacific and emerging markets, announced at a press conference held in Singapore, cited by Bloomberg. The asset management arm of BNP Paribas would also like to launch activities in Colombia and Peru.
10/04/2014

Record monthly inflows to hedge funds in February

P { margin-bottom: 0.08in; } The hedge fund industry is returning to good health. According to statistics released by the agencies BarclayHedge and TrimTabs Investment Research, speculative funds pulled in USD24.3bn in February, the best monthly inflows in three years. In January, subscriptions totalled only USD4.4bn. “The hedge fund industry has amassed USD28.7bn in January and February, up 83% compared with USD15.7bn in inflows last year in the same period,” says Sol Waksman, chairman and founder of BarclayHedge. This inflow of new money puts assets in the industry at USD2.2trn in February, the highest level in five and a half years, according to estimates based on data from 3,374 funds. Assets rose 18% in the past 12 months, but they are still down 11% compared with a peak of USD2.4trn in June 2008.
10/04/2014

Rubicon recruits a former Citi analyst

P { margin-bottom: 0.08in; } Rubicon Fund Management has recruited the former Citigroup analyst Sean Wolpert, Financial News reports. Wolpert rejoins his former colleague Richard Cookson, who joined the macro hedge fund firm as head of research, after leaving the US bank about one year ago.
10/04/2014

Mansartis opts for visibility

P { margin-bottom: 0.08in; } Guillaume Jalenques de Labeau, chairman of Mansartis calls the recent events at his asset management firm not a revolution, but a new ambition. For starters, it has a new name – Mansartis – which replaces the title PGC. Mansartis has also added to its OPCVM management team. Two senior managers have joined the team: Cécile Imbert, ex-Prigest, who arrived in late 2013, who managed the Prigest US fund, and Sébastien Lemonnier, formerly of Tocqueville Finance, who was co-manager of the Tocqueville Value Europe fund. The change of names will allow the asset management firm to gain visibility, but is also a sign of new ambitions at the group. It is true that in 2013, Mansartis posted slightly positive total inflows of “between EUR5m and EUR10m,” which, in combination with favourable market effects (+6%), took assets under management at the firm to “about EUR550m to EUR600m.” The 6 public funds alone represent half of these total assets. In 2014, Mansartis is betting on total inflows of EUR40m to EUR50m, of which, according to its chairman, one quarter has already been achieved. External development comes next. But here, no surprises are on the horizon: the growth model at Mansartis is based on a highly concentrated client base (under 400 clients) in 2 categories: individuals on the one hand, and foundations, charities and NGOs on the other. Overall, 90% of these clients are French.
10/04/2014

Morgan Stanley recruits for its North American distribution team

P { margin-bottom: 0.08in; } Morgan Stanley Investment Management has performed a series of recruitments to add to its distribution team for North America, Financial News reports, citing an internal memo. To cover instituitonals, the firm has recruited Mike Chambers (formerly of Columbia Management), Christina Barren (Corbin Capital) and Greg Best (Kayne Anderson Rudnick). Kevin Breen, who had been at Santa Barbara AM, will also serve institutional and wealth management clients as executive director. Doug Johnsoton and Alex Marashlian also join MSIM.
10/04/2014

Chairman of Guggenheim Investments resigns

P { margin-bottom: 0.08in; } John Klein has left his position as chairman of the asset management firm Guggenheim Investmetns, a spokesperson for the firm has confirmed to Mutual Fund Wire.com. Klein joined Guggenheim Investments in 2012, after being a partner at Citigroup Private Equity since 2007. He was previously a partner at Jupiter Partners. The reasons for his departure have not been revealed. However, according to an article in Barron’s, Klein is said to have resigned amidst suspicions of sexual harassment, and is replaced by Scott Minerd, currently chief investment officer at Guggenheim Partners.
10/04/2014

Departure of a co-founder from Cantab

P { margin-bottom: 0.08in; } Chris Pugh, founder and COO of Cantab Capital Partners, is leaving the hedge fund firm at the end of March, Financial News reports. His responsibilities have been passed to Fraser McIntyre, who joined the firm in September.
10/04/2014

ETF activities on Euronext up in March

P { margin-bottom: 0.08in; } Daily on-book trading volumes on the European markets of Euronext in March totalled EUR264.6m, up 5.8% compared with the end of February, and 6.7% compared with March 2013, according to monthly statistics by Euronext. Total on-book transactions in the month under review came to EUR5.6bn, up 11.1% compared with February, and 12.1% with March 2013. Bloc trades totalled EUR1.15bn in March, down 18.2% compared with February, and 1% compared with March 2013. The median spread last month totalled 25 basis points, up 1% compared with February, and 6% compared with March 2013.
10/04/2014

EdRAM may soft close Edr Europe Convertibles

P { margin-bottom: 0.08in; } According to Das Investment, Edmond de Rothschild Asset Management (EdRAM) may soft close its convertible fund EdR Europe Convertibles, due to very strong demand from investors. Asstes under management in the fund total over EUR1.3bn, and as assets have recently topped EUR1.45bn, the fund may on a temporary basis be closed. Since its launch in 1993, the fund has earned annual returns of 6.7%, which puts it in the top decile of its Morningstar category.
10/04/2014

Robeco becomes an independent participant in Global Compact

Robeco has been accepted as an independent participant by the United Nations Global Compact, after participating via Rabobank Group, its previous parent company, for more than ten years. Today, the asset manager is owned by Japan’s Orix. The UN Global Compact is a strategic initiative for businesses that are committed to aligning their strategies and operations with ten universally accepted principles in the areas of human rights, labor, environment and anti-corruption. It has over 12,000 corporate participants and other stakeholders from more than 145 countries.
10/04/2014

First State Investments recruits for European institutional team

First State Investments has announced appointments for its European institutional team.Chris Gower is granted additional responsibilities and is appointed to the position of head of EMEA consultant relationships. Gower joined the firm in 2013, in order to develop the First State franchise and to strengthen the co-ordination and structuring of First State’s activities with consultants in the region.In order to consolidate relationship management initiatives at First State, Jimmy Burna will join the firm in early May as main head of relationships. He will be based in Edinburgh. Burns previously worked in the Stewart Ivory team (First State Stewart) for 14 years, as director of European equities. He was more recently director of his own consulting firm in the United States.Alongside these appointments, Kanesh Lakhani, head of distribution for EMEA and global consultant relationships, has announced the creation of a speciaised development team which will aim to form institutional relationships for the company. As a part of that, Denise Saber is appointed to the new position of director of development for institutional business in Europe. She will be based in London, and will be responsible for creating and maintaining relationships with the primary owners of European assets. She will join First State on 15 April.Lastly, Frank Glennon joins First State in the new position of head of commercial development for Europe. He will be based in London, and will report to Saber. Glennon, who currently works at Falcon Money Management in London, will join First State on 5 May.
10/04/2014

Swiss & Global goes into ETFs

P { margin-bottom: 0.08in; } Swiss & Global is planning an ambitious marketing campaign for its ETFs, with the objective of attracting CHF2bn in assets in 1 to 3 years, Ignites Europe (Financial Times group) reports. After launching ETFs on the Zurich stock exchange last week, the Swiss asset management firm is hoping to do the same on the London Stock Exchange and to extend its product range, firstly with a US equity fund.
10/04/2014

Pru launches an emerging market fund

P { margin-bottom: 0.08in; } Prudential will launch a global emerging market fund of funds, which will give investors access to five emerging market funds, including some which are closed to new investors. The funds concerned are the First State Global Emerging Markets Leaders, Aberdeen Emerging Markets, M&G Global Emerging Markets, Fidelity Emerging Markets and JP Morgan Emerging Markets Income funds.
10/04/2014

Temasek launches a private equity co-investment vehicle

P { margin-bottom: 0.08in; } Temasek, the Singapore sovereign fund, on Wednesday announced the launch of a vehicle for institutional investors, and eventually retail investors, who would like to co-invest with it in the area of private equity, Pensions & Investment reports.
10/04/2014

Asset management sector will boost insurer outsourcing needs

P { margin-bottom: 0.08in; } A growing number of North American and European non-life insurance companies, as well as small or mid-sized life insurance companies are outsourcing part of their asset management activities, according to a Moody’s study published on 9 April (“Asset Managers Benefit from Insurers’Growing Outsourcing Trend”). The financial ratings agency calls this trend positive in terms of credit for asset managers, as growth in external assets under management will represent a stable source of revenue in the long term. Largely due to constraints related to Solvency II, the study explains that many insurers need the expertise of asset management firms to implement new strategies, for example in the non-traditional bond segment. With an asset management partner, insurers can also develop strategic and tactical investment solutions which are better adapted to their strategy. Overall, the agency estimates that asset management specialists can offer insurers their investment expertise, investment ideas, flexibility, and lastly, cost savings.
10/04/2014

JPM slows inflows to a US small cap fund

P { margin-bottom: 0.08in; } JP Morgan Asset Management has chosen to slow inflows to its Luxembourg-registered fund US Small Cap Growth, which is approaching USD400m in assets, Citywire Global reports. The fund, launched in 2003, has been managed by Etyan Shapiro since its creation.
10/04/2014

Temasek lance un véhicule de co-investissement dans le private equity

Temasek, le fonds souverain de Singapour, a annoncé mercredi le lancement d’un véhicule pour les investisseurs institutionnels et à terme les investisseurs particuliers qui souhaiteraient co-investir avec lui dans le domaine du capital investissement, rapporte Pensions & Investment.
10/04/2014

Progression de plus de 13% des actifs sous gestion de BayernInvest en 2013

Les actifs sous gestion de BayernInvest (groupe Bayerische Landesbank) ont progressé l’an dernier de 13,4% pour s'établir à 48,8 milliards d’euros, selon un communiqué de la société. Cette progression à deux chiffres est liée notamment à la forte activité sur les fonds institutionnels et les mandats, avec une progression de 5,7 milliards d’euros ou 16,1%. En revanche, les actifs sous gestion des fonds ouverts au public sont demeurés stables.Le bénéfice avant impôts s’est inscrit en hausse de 13,8% à un peu plus de 7 millions d’euros. Le coefficient d’exploitation s’est amélioré à 77,5% contre 78,8% l’année précédente.La société espère cette année franchir la barre des 50 milliards d’euros d’actifs sous gestion, avec notamment l’enrichissement de sa palette de produits et services. Le portefeuille de clients de BayernInvest comprend des compagnies d’assurances à hauteur de 40%, des caisses d'épargne (20%), des fonds de pension (19%) et des entreprises (environ 11%).
10/04/2014

First State Investments renforce son équipe institutionnelle européenne

First State Investments a annoncé plusieurs nominations et recrutements au sein de son équipe institutionnelle européenne. Voyant ses responsabilités renforcées, Chris Gower est nommé au poste de directeur des relations avec les clients et les consultants dans la région EMEA. L’intéressé a rejoint la société en 2013 afin de développer la franchise First State et de renforcer la coordination et la structuration des activités de la société avec les consultants de la région. Afin de consolider les initiatives de gestion des relations de First State, Jimmy Burns rejoindra la société début mai en tant que principal responsable des relations. Il sera basé à Édimbourg. Jimmy Burns a auparavant travaillé au sein de l'équipe Stewart Ivory (First State Stewart) pendant 14 ans, en qualité de directeur des actions européennes. Plus récemment, il a dirigé son propre cabinet de conseil aux Etats-Unis.En parallèle à ces nominations, Kanesh Lakhani, directeur de la distribution EMEA et des relations avec les consultants monde, annonce la création d’une équipe de développement spécialisée qui cherchera à nouer de nouvelles relations institutionnelles pour la société. Dans ce cadre, Denise Saber est nommée au nouveau poste de directrice du développement des affaires institutionnelles en Europe. Basée à Londres, elle sera chargée de créer et d’entretenir des relations avec les principaux propriétaires d’actifs européens. Elle rejoindra First State le 15 avril.Enfin, Frank Glennon rejoint First State au poste nouvellement créé de responsable du développement commercial en Europe. Basé à Londres, il travaillera sous le contrôle de Denise Saber. L’intéressé, qui travaille actuellement chez Falcon Money Management à Londres, rejoindra First State le 5 mai.
10/04/2014

Robeco devient participant indépendant du Global Compact

Robeco est devenu un participant indépendant du Global Compact des Nations Unies, après l’avoir été pendant plus de 10 ans via Rabobank Group, son ancienne maison mère. Aujourd’hui, la société de gestion (205 milliards d’euros d’encours) est détenue par le japonais Orix. Le Global Compact est une initiative stratégique pour les entreprises qui s’engagent à aligner leurs stratégies et activités avec 10 principes dans les domaines des droits humains, du travail, de l’environnement et de la lutte contre la corruption. Il regroupe 12.000 participants de plus de 145 pays.
10/04/2014

Swiss & Global se lance dans les ETF

Swiss & Global prévoit une ambitieuse campagne de marketing pour ses ETF, avec comme objectif de drainer 2 milliards de francs suisses d’encours sur 1 à 3 ans, rapporte Ignites Europe (groupe Financial Times). Après avoir lancé des ETF sur la Bourse de Zurich la semaine dernière, la société de gestion suisse espère faire de même sur le London Stock Exchange et étendre sa gamme, d’abord avec un fonds actions américaines.
10/04/2014
Fonds

EdRAM pourrait provisoirement fermer Edr Europe Convertibles

Selon Das Investment, Edmond de Rothschild Asset Management (EdRAM) pourrait provisoirement fermer aux nouvelles souscriptions son fonds d’obligations convertibles EdR Europe Convertibles en raison de la très forte demande des investisseurs.Les actifs sous gestion du fonds s'élèvent à plus de 1,3 milliard d’euros et si l’encours venait à dépasser la barre des 1,45 milliard d’euros, le fonds pourrait être provisoirement fermé.Depuis son lancement en 1993, le fonds a dégagé une performance annuelle de 6,7%, ce qui le place dans le premier décile de sa catégorie Morningstar.
Fonds
10/04/2014

Immobilier : forte augmentation des audits de performances environnementales en Europe

L’association Green Rating Alliance a annoncé le 9 avril une augmentation de 30% des audits de performances environnementales des bâtiments en 2013. Ceux-ci dépassent les 9 millions de mètres carrés d’immobilier tertiaire en Europe. La méthode d’audit Green Rating permet d'évaluer et de la gérer la performance environnementale des actifs immobiliers en Europe.Par ailleurs, Rob Wilkinson, directeur général d’AEW Europe, a été élu président de Green Rating Alliance pour l’année 2014, et succède à Pieter Hendrikse, directeur général de CBRE Global Investors EMEA. Lors de leur réunion annuelle, les membres de Green Rating Alliance ont accueilli Vincent Moulard, directeur de l’Asset Management de Gecina, en tant que nouveau directeur. De plus, le comité exécutif a été approuvé pour 2014 comme suit : Christoph Wildgruber - Head of Sustainability chez Allianz Real Estate - a été confirmé directeur général. Il sera accompagné par Xavier de Saqui de Sannes, - directeur Asset Management, France & Belgique chez Invesco Real Estate, en tant que directeur financier et Gérard Biessy - vice président Corporate Business Lines chez Bureau Veritas SA - en tant que secrétaire général. David Short - Sustainability Director chez GE Capital Real Estate -, Thierry Laquitaine - responsable développement durable chez AEW Europe - et Paul Lensing - Business & ESG Manager chez CBRE Global Investors - sont directeurs généraux adjoints.A noter enfin qu’Arcadis, leader mondial dans les services de conception, d’ingénierie et de conseil dans les domaines de l’infrastructure et du bâtiment est la nouvelle entreprise d’audit à avoir rejoint Green Rating Alliance.
10/04/2014
Fonds

Hausse de l'activité ETF sur Euronext en mars

Le volume quotidien moyen de transactions «on-book» sur les places européennes d’Euronext s’est inscrit au mois de mars à 264,6 millions d’euros, en progression de 5,8% par rapport à février et de 6,7% par rapport à mars 2013, selon les statistiques mensuelles publiées par Euronext.Le volume total de transactions on-book du mois sous revue ressort à 5,6 milliards d’euros, en hausse de 11,1% par rapport à février et de 12,1% par rapoprt à mars 2013.Les transactions de blocs ont porté sur 1,15 milliard d’euros en mars, en baisse de 18,2% sur février et de 1% par rapport à mars 2013.Le spread médian s’est inscrit le mois dernier à 25 points de base, soit une progression de 1% par rapport à février et de 6% par rapport à mars 2013.
Fonds
10/04/2014

Un associé d’Autonomous rejoint JP Morgan AM

Giovanni Carriere, l’un des associés d’Autonomous, une société de recherche financière, va rejoindre JP Morgan Asset Management, rapporte Financial News. Il y sera analyste buyside en charge des financières sur les marchés émergents, selon trois personnes proches du dossier.
10/04/2014

Premier AM renforce son équipe multi-asset

Premier Asset Management a promu Nick Kelsall au poste de «investment manager» au sein de son équipe multi classes d’actifs, croit savoir Fundweb. L’intéressé travaillait précédemment au sein de l’équipe en charge de la gestion de portefeuille pour la clientèle privée de Premier. Auparavant, il avait travaillé pour la société de gestion de fortune Rensburg Sheppard, aujourd’hui filiale de Investec Wealth.
10/04/2014
Fonds

Pru lance un fonds de fonds marchés émergents

Prudential va lancer en mai un fonds de fonds marchés émergents mondiaux qui donnera aux investisseurs un accès à cinq fonds marchés émergents, dont certains sont fermés aux nouveaux investisseurs. Les fonds concernés sont First State Global Emerging Markets Leaders, Aberdeen Emerging Markets, M&G Global Emerging Markets, Fidelity Emerging Markets et JP Morgan Emerging Markets Income funds.
Fonds

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