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22/10/2013

Trois promotions chez Axa Real Estate IM

Axa Real Estate Investment Managers vient de nommer Riccardo Dallolio, responsable des transactions européennes depuis 2011, en tant que responsable sectoriel des placements alternatifs. Il aura pour mission de superviser le métier placements alternatifs de la société lancé en octobre 2012.Riccardo Dallolio sera remplacé à son poste de responsable des transactions européennes par Laurent Jacquemin, l’actuel responsable global de la finance d’entreprise. Ce dernier sera à son tour remplacé par Philippe de Martel, responsable du corporate finance France.
22/10/2013

Mandarine Gestion nomme son directeur du développement institutionnel

Mandarine Gestion vient de nommer Denis Auclair au poste de directeur du développement institutionnel. Il dirigera l’équipe de commerciaux dédiés auxinvestisseurs institutionnels de la société de gestion française et aura pour mission de développer ce segment de clientèle principalement en France, Suisse, Belgique et Luxembourg.Les investisseurs institutionnels représentent près de la moitié des encours de Mandarine Gestion qui souhaite poursuivre son développement auprès de ce segment de clientèle tant en France qu’en Europe, indique un communiqué. Auparavant, Denis Auclair travaillait chez Allianz Global Investors Paris où il a été responsable du secteur « Entreprises » entre 2007 et 2010, avant d'être promu responsable du développement commercial pour la France, la Belgique et le Luxembourg.
22/10/2013

BNP Paribas cherche à réduire sa participation dans Shinhan Financial Group

BNP Paribas cherche à céder une partie de sa participation dans le groupe bancaire sud-coréen Shinhan Financial Group en espérant en tirer jusqu'à 160 millions d’euros, a indiqué, lundi 21 octobre, Reuters qui cite des sources proches du dossier. La banque française propose à la vente 4,75 millions d’actions à un prix compris entre 47.000 et 48.650 wons.Avant cette opération, BNP Paribas détenait une participation de 6,35 %, indique l’agence.
22/10/2013

AEW Europe vend un immeuble à SMABTP

Agissant en tant que gérant du fonds Euroffice, la société d’investissement et de gestion d’actifs immobiliers AEW Europe a vendu à SMABTP l’immeuble Colisée II de 11 500 m² situé à Paris (17è).
22/10/2013

Seung Minn quitte Allianz GI

Allianz Global Investors a remplacé Seung Minn en tant que gérant du fonds Allianz US Equity (856 millions de dollars d’encours) après six ans et demi, rapporte Financial News. Steve Berexa est devenu le gérant principal du fonds. Un porte-parole d’Allianz GI explique à FN que Seung Minn a quitté la société.
22/10/2013
Fonds

Lyxor fait coter un nouvel ETF à Paris

NYSE Euronext a annoncé avoir admis à la négociation sur la place de Paris un nouvel ETF de Lyxor Asset Management, ce qui porte à 656 le nombre de ces produits cotés sur les places européennes de NYSE Euronext. Le nombre de cotations primaires s’inscrit à 566 unités.CaractéristiquesDénomination : Lyxor ETF LTM PEAIndice de référence : MSCI Emerging Markets Latin AmericaCode mnémonique : LTMPTaux de frais sur encours : 0,65 %
Fonds
22/10/2013

iShares débarque au Portugal

Par l’intermédiaire de Banco Best, iShares ouvre l’accès au Portugal à 131 de ses ETF d’actions et obligataires qui viennent d’être enregistrés par la CMVM, rapporte Funds People.
22/10/2013

Des changements dans la gestion d'H2O AM Multibonds

Depuis vendredi 18 octobre, des modifications dans la gestion du fonds H2O Multibonds de H2O AM sont intervenues. Selon l’avis financier figurant sur le site Natixis AM, les produits de taux ‘puttable’ et ‘callable’ sont ajoutés à la liste des titres intégrant des dérivés autorisés. Par ailleurs, dans le cas où le rating initial des ABS et des MBS en positions serait dégradé, le fonds est dorénavant autorisé à les conserver sans limite de notation, contre précédemment une limite de notation de A/A2 minimum selon la notation des agences S&P, Fitch Rating ou Moody’s.
22/10/2013

Alceda muscle son pôle institutionnel

Désireux de développer son activité de structuration dans le cadre de la nouvelle directive européens sur les gestionnaires alternatifs (AIFMD), le luxembourgeois Alceda Fund Management (5,4 milliards d’euros sous administration) a recruté Christian Holste comme directeur général de sa filiale allemande Alceda Advisors GmbH. Ce dernier sera plus particulièrement chargé de muscler l’offre de structuration dans le domaine des investissements alternatifs proposés aux investisseurs institutionnels. L’intéressé a rejoint Alceda le 15 octobre. Il était auparavant CEO de la Banque Bauer à Genève, mais a effectué une grande parite de sa carrière chez UBS Allemagne.
22/10/2013
Fonds

UBS commercialise quatre nouveaux ETF sur Deutsche Börse

Depuis le 21 octobre, la cote du segment XTF de la plate-forme électronique Xetra (Deutsche Börse) comporte 1.046 références car UBS ETF Sicav et UBS (irl) Plc ont fait admettre à la négociation trois ETF d’actions pays euro-hedgées (Royaume-Uni, Canada et Japon) pour le premier et un ETF à gestion active multi-classes d’actifs pour le second.CaractéristiquesDénomination : UBS ETF - MSCI United Kingdom 100% hedged to EUR UCITS ETF (EUR) A-accIndice de référence : MSCI United Kingdom 100% hedged to EURCode Isin : LU0950671239Taux de frais sur encours : 0,40 %Dénomination : UBS ETF - MSCI Canada 100% hedged to EUR UCITS ETF (EUR) A-accIndice de référence : MSCI Canada 100% hedged to EURCode Isin : LU0950673284Taux de frais sur encours : 0,55 %Dénomination : UBS ETF - MSCI Japan 100% hedged to EUR UCITS ETF (EUR) A-accIndice de référence : MSCI Japan 100% Hedged to EURCode Isin : LU0950672476Taux de frais sur encours : 0,45 %Dénomination : UBS ETFs plc - MAP Balanced 7 UCITS ETF SF (USD) A-accIndice de référence : UBS Multi Asset Portfolio IndexCode Isin : IE00B95FFX04Taux de frais sur encours : 0,75 %
Fonds
22/10/2013
Fonds

Nouvel ETC d'ETF Securities à Francfort

Le 21 octobre, le britannique ETF Securities a lancé sur la Bourse de Francfort un ETC de droit allemand, le ETFS EUR Daily Hedged Energy DJ-UBS EDSM. Il s’agit d’un nouveau produit couvert quotidiennement du risque de change en euros, ce qui limite les effets de la volatilité des devises dans les portefeuilles des investisseurs en limitant l’exposition au dollar américain.L’ETFS EUR Daily Hedged Energy DJ-UBS EDSM est émis par ETFS Hedged Commodity Securities Limited, basée à Jersey, et a pour but d’offrir aux investisseurs une exposition complète aux rendements des contrats à termes sur l’énergie avec une protection quotidienne contre les mouvements sur les taux de change euro/dollar en répliquant le Dow Jones-UBS Energy Sub-Index EUR Hedged DailySM et en offrant un rendement additionnel. L’indice reflète les mouvements des prix des contrats à terme sur les matières premières utilisées dans le Dow Jones-UBS Commodity IndexSM, à savoir WTI Crude Oil, Natural Gas, Brent Crude, Unleaded Gasoline et Heating Oil.La Deutsche Börse précise pour sa part qu’il s’agit du 242ème ETC coté sur le segment des ETC de la plate-forme électronique Xetra.CaractéristiquesDénomination : ETFS EUR Daily Hedged Energy DJ-UBS EDSMCode Isin : DE000A1Y7Y36Taux de frais sur encours : 0,49 %
Fonds
22/10/2013
Fonds

DeAWM rebaptise un de ses fonds développement durable

Avec effet au 21 octobre, le fonds de droit allemand DWS Klimawandel* («changement climatique») a pris le nom de DWS Water Sustainability Fund, annonce Deutsche Asset & Wealth Management (DeAWM).Dorénavant, en effet, la stratégie d’investissement se focalisera sur les actions de sociétés sur l’ensemble de la chaîne de valeur du secteur de l’eau. En dehors des critères financiers, l'équipe de gestion prendra en compte les données environnementales, sociales et de gouvernance (ESG).* DE000DWS0DT1
Fonds
22/10/2013

UBS releases four new ETFs on Deutsche Börse

Since 21 October, the listings on the XTF segment of the Xetra electronic platform (Deutsche Börse) includes 1,046 entries, as the UBS ETF Sicav and UBS (irl) Plc have listed three euro-hedged country equity ETFS (United Kingdom, Canada and Japan) in the former case, and one actively-managed, multi-asset class ETF in the latter.CharacteristicsName: UBS ETF - MSCI United Kingdom 100% hedged to EUR UCITS ETF (EUR) A-accBenchmark index: MSCI United Kingdom 100% hedged to EURISIN code: LU0950671239Total expense ratio: 0.40%Name: UBS ETF - MSCI Canada 100% hedged to EUR UCITS ETF (EUR) A-accBenchmark index: MSCI Canada 100% hedged to EURISIN code: LU0950673284Total expense ratio: 0.55%Name: UBS ETF - MSCI Japan 100% hedged to EUR UCITS ETF (EUR) A-accBenchmark index: MSCI Japan 100% Hedged to EURISIN code: LU0950672476Total expense ratio: 0.45%Name: UBS ETFs plc - MAP Balanced 7 UCITS ETF SF (USD) A-accBenchmark index: UBS Multi Asset Portfolio IndexISIN code: IE00B95FFX04Total expense ratio: 0.75%
22/10/2013

New ETC from ETF Securities in Frankfurt

On 21 October, UK-based ETF Securities launched a German-registered ETC on the German stock exchange, the ETFS EUR Daily Hedged Energy DJ-UBS EDSM. It is a new prpduct which is hedged on a daily basis for risks in euros, which limits the effects of currencies on the portfolios of investors, by limiting exposure to the US dollar.The ETFS EUR Daily Hedged Energy DJ-UBS EDSM is issued by ETFS Hedged Commodity Securities Limited, based in Jersey, and aims to offer investors complete exposure to returns on futures contracts on energy with daily protection against the movement of euro/dollar currency rates, replicating the Dow Jones-UBS Energy Sub-Index EUR Hedged DailySM, and offering additional returns. The index reflects the price movements on futures contracts on commodities used in the Dow Jones-UBS Commodity IndexSM, including the WTI Crude Oil, Natural Gas, Brent Crude, Unleaded Gasoline and Heating Oil.Deutsche Börse states for its part that this is the 242nd ETC to be listed on the ETC segment of its Xetra electronic platform.CharacteristicsName: ETFS EUR Daily Hedged Energy DJ-UBS EDSMISIN code: DE000A1Y7Y36Total expense ratio: 0.49%
22/10/2013

DeAWM renames one of its sustainable development funds

Effective from 21 October, the German-registered fund DWS Klimawandel (DE000DWS0DT1), or “climate change,” has become known as the DWS Water Sustainability Fund, Deutsche Asset & Wealth Management (DeAWM) has announced.The investment strategy will now focus on equities in companies throughout the value chain in the water sector. Aside from financial criteria, the management team will take into account environmental, social and governance (ESG) criteria.
22/10/2013

Credit Suisse appoints two heads for asset management

Following the departure of Gerhard Fusenig, one of the co-directors of asset management at Credit Suisse, announced in September, the firm has released the names of his replacements. Timothy Blackwell will take over operational responsibility of the core investments unit. He will remain as director of real estate asset management, as well as equities, fixed income and indices. Michael Strobaek, for his part, has been appointed to a more representative position in addition to his role as Global CIO and Head of Investment Strategy & Research. As Head of Asset Management Switzerland, he will aim to represent asset management at Credit Suisse to the authorities, for example.
22/10/2013

Alceda recruits for institutional unit

The Luxembourg-based firm Alceda Fund Management (EUR5.4bn in assets under administration), ambitious to develop its structuring activity under the new European alternative management directive (AIFMD), has recruited Christian Holste as CEO for its German affiliate Alceda Advisors GmbH. Holste will be particularly responsible for building up the structuring range in the area of alternative investments on offer to institutional investors.Holste joined Alceda on 15 October. He had previously been CEO of Banque Bauer in Geneva, but has spent a large part of his career at UBS in Germany.
22/10/2013

Assets double at Alex Vermogensbeheer

Between the end of September 2012 and the end of September 2013, Fonds Nieuws reports, assets at the wealth management firm Alex Vermogensbeheer (BinckBank group) increased from EUR878m to EUR1.8bn. Net subscriptions totalled EUR191m in July-September, and EUR709m in the first three quarters. The scale of the net inflows is attributed to a television advertising campaign by Alex in July and August.
22/10/2013

Lyxor lists new ETF in Paris

NYSE Euronext has announced that it has admitted a new ETF to trading on the Paris stock exchange from Lyxor Asset Management, bringing the number of these products listed on the European markets of NYSE Euronext to 656. The number of primary listings now totals 566.CharacteristicsName: Lyxor ETF LTM PEABenchmark index: MSCI Emerging Markets Latin AmericaTicker: LTMPTotal expense ratio: 0.65%
22/10/2013

AP1 awarded damages from BNY Mellon

The Commercial Court in London has handed down a verdict in favour of The Swedish pension fund Första AP-fonden (AP1), which filed a suit in 2008 against BNY Mellon for reimbursement of losses occasioned by securities lending undertaken by BNY Mellon on behalf of the fund. The total damages were set at USD33.7m, or SEK219m, while the exact amount of the settlement remains to be determined. In addition, BNY Mellon will be required to reimburse AP1 for most of its legal costs related to the lawsuit.However, the US bank may still appeal.As the damages were entirely provisioned for in the annual accounts for AP1 in 2008, the damages and compensation for legal and interest expenses will have a positive impact on net investment income when the ruling goes into force.
22/10/2013

Nearly 20 money market funds have been bailed out

About 20 money market funds were bailed out by their parent companies in order to prevent them from undergoing losses during the financial crisis of 2006-2009, according to Moody’s, cited by Financial Times fund management. The revelation that 16 US money market funds received capital injections in 2010, and three other products (one of them non-US) were bailed out in 2011 come at a time when the debate over regulations in the US sector is intensifying.
22/10/2013

FundLogic admits long/short fund from Broadmark

Morgan Stanley on 14 October launched the MS Broadmark Tactical Plus UCITS Fund on the FundLogic Alternatives plc platform. The fund is managed by Broadmark Asset Management LLC, which aims for returns higher than the risk-adjusted average will lower volatility than the S&P 500, regardless of the position in the market cycle. To do that, the management team can take long and short positions on equity markets, investing primarily in futures on US equities, ETFs, and options.CharacteristicsName: MS Broadmark Tactical Plus UCITS FundISIN code: IE00BC1JD990Ticker: FLBTB1U:IDSales licenses: France, Italy, United Kingdom, Spain; in progress: Germany and Switzerland
22/10/2013

Euro-hedged share class in STHY ETF from Pimco/Source created

The two asset management firms Pimco (Allianz group) and Source on 21 October announced the creation of a share class hedged for currency risks in euros for their ETF PIMCO Short-Term High Yield Corporate Bond Index Source (ticker: STHY), a fund whose benchmark currency is the US dollar, and which has already reached USD550m in assets, though it was launched only in March 2012.The fund, listed on the London Stock Exchange, replicates the BofA Merrill Lynch 0-5 Year US High Yield Constrained Index, a broad benchmark covering more than 800 corporate bonds denominated in US dollars. The euro-hedged shares carry a total expense ratio of 0.60%, compared with 0.55% for shares in US dollars.
22/10/2013

Schroders adds cat bonds fund to its GAIA platform

Daniel Ineichen, manager of the NGAR Secquaero ILS Fund since May 2011, will manage the new Schroder GAIA Cat Bond Fund, which joins the UCITS-compliant hedge fund platform GAIA (Global Alternative Invesment Access).The new product, which on 21 October merged with the NGAR Secquaero ILS Fund from Secquaero Advisors, will invest at least 80% of its assets in catastrophe bonds and insurance-linked securities (ILS). Schroders states that the portfolio will be primarily exposed to regions with a high concentration of high net worth insurance clients, such as the United States, western Europe and Japan.The objective is to outperform the Libor 3-month in US dollars by 600 basis points per year, after fees. Schroders states that the NGAR Secquaero ILS Fund has a track record of 7.27% per year since its launch on 15 August 2011.The GAIA platform currently has asets of EUR2.5bn. It will soon have seven funds, of which five are external (Schroder GAIA CQS Credit, Schroder GAIA Egerton Equity, Schroder GAIA Sirios US Equity, Schroder GAIA Avoca Credit (which is expected to be launched on 7 November) and the Schroder GAIA Cat Bond) and two in-house funds (Schroder GAIA Global Macro Bond and Schroder GAIA QEP Global Absolute).
22/10/2013

Phoenix and Friends Life win fund booby prizes

Bestinvest has published its 2013 “Spot the Dog” rankings of the worst investment funds, which include 113 funds that have chronically underperformed, which manage a total of GBP31bn for pension funds, Money Marketing reports.Phoenix and Friends Life are the two pension fund providers which have the most “dog funds” in their product ranges, with 15 and 17 products, respectively. But several outsourced funds also rank among the worst performers, such as the Legal & General BlackRock UK Dynamic fund and the Aviva Investec America fund.
22/10/2013

Odin Fonder recruits analyst and manager

The Swedish asset management firm Odin Fonder has recruited Thomas Nielsen as an equities analyst for its Scandinavian equities team, as well as Mariann Stoltenberg Lind as portfolio manager for Norwegian fixed income. Nielsen joins from Pareto, while Stoltenberg worked previously at Storebrand.
22/10/2013

Asset management firms fight for their bonuses

Asset management firms are vigorously combatting proposed restrictions on their bonuses, according to a document obtained by FTfm. EFAMA proposes that managers should be able to receive three quarters of their bonuses in the year they were awarded, rather than only 60%, as suggested by the European Commission. The Efama amendment will be studied at a meeting of the European Council working group on UCITS V, scheduled for Monday.
22/10/2013

Record assets for hedge funds as of the end of September

According to Hedge Fund Research, total assets under management by hedge funds worldwide as of the end of September reached their fifth consecutive quarterly record, at USD2.510trn, which represents an increase of USD94bn over the end of June.Net subscriptions totalled USD23bn, which is the highest level since second quarter 2011.The HFRI Fund Weighted Composite Index in July-September posted returns of 2.2%, bringing gains in the first nine months of the year to 5.5%, while the best results were for equity hedge strategies, which attractedUSD10.6bn in net subscriptions (assets totalled USD686bn), and event-driven, which attracted USD6.4bn in third quarter, and USD16.4bn in January-September.
22/10/2013

Faber to advise mandates from a Zurich firm

The Zurich-based asset management firm Premium Strategy Partners has recruited Marc Faber, who is known as Dr. Doom, to advise its mandates, Citywire Global reports. He will advise the three managers at the firm, including the co-founders Dieter Lüscher and Otto Koller, on investment decisions.

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