Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
25/07/2013

Blackstone acquires 1,860 housing units in Madrid

P { margin-bottom: 0.08in; } The Magic Real Estate fund from Blackstone has won an auction for a portfolio of 1,860 housing units put up for sale by the Madrid municipal housing authority, EMVS. Tenants’ contracts are “protected” for ten years, Expansión reports.
25/07/2013

Barclays recruits a big name from Credit Suisse

P { margin-bottom: 0.08in; } Vivian Chan, managing director and market leader for Greater China at Credit Suisse, where she stood out for the creation of an ultra-high net worth client portfolio in particular, is joining her former boss Didier van Daeniken, head of wealth management for Asia Pacific, Middle East & Africa, at Barclays. She will begin on 5 August in her new role as regional head of North Asia in the wealth & investment management division.
25/07/2013

bfinance renforce son équipe de recherche en gestion d'actifs

Le cabinet de conseil en services financiers bfinance a annoncé l’arrivée de Roubesh Adaya, spécialiste des marchés obligataires, au sein de son équipe de recherche en gestion d’actifs. L’intéressé sera basé à Londres. Roubesh Adaya sera responsable de l’analyse des supports d’investissement obligataires cotés.
25/07/2013

Lim Boon Heng est le nouveau président de Temasek

Le fonds souverain singapourien Temasek a un nouveau président, rapporte Finance Asia. Il s’agit de Lim Boon Heng, qui remplace au poste de chairman S. Dhanabalan, qui part à la retraite après 17 années à la tête de l’institution. Comme son prédécesseur, Lim Boon Heng est un ancien homme politique. Il a notamment été ministre.
25/07/2013

Cetera hires from BNY Mellon

P { margin-bottom: 0.08in; } Steve Dunlap has been recruited as executive vice president, wealth management at the broker-dealer Cetera Finncial Group, replacing Barnaby Grist, who is leaving the group “to be with his family,” according to a statement. Dunlap will be responsible for continuing the strategic development of wealth management services at Cetera, aimed at advisers who are seeking to increase their fee-based activities.Dunlap had most recently been both president & CEO of Lockwood Advisors, a retail distribution affiliate of BNY Mellon, and president of managed investments at Pershing, a BNY Mellon boutique. In his new role, Dunlap will report directly to CEO Valerie Brown.
25/07/2013

Dexia AM: Negotiations break down between Dexia and GCS Capital over sale

P { margin-bottom: 0.08in; } Dexia on Wednesday, 24 July, announced that negotiations with GCS Capital had broken down over a sale of Dexia Asset Management. Dexia on 12 December 2012 signed an agreement to sell Dexia AM with GCS Capital, stating that the transaction would be completed by the end of June 2013 at the latest, for a total of EUR380m.As it was unable to complete the sale as planned, Dexia has agreed to continue negotiations beyond the initial deadline. At the conclusion of talks with GCS Capital, and pursuant to its contractual obligations, “Dexia has decided to denounce the sale agreement as of 15 July 2013. The sale agreement had allowed for a notice period of 10 working days, and talks will conclude on 30 July 2013,” a statement says. Until that date, the buyer would be entitled to fulfil is contractual obligations and complete the sale, Dexia adds.The statement adds that the decision “does not put into question the desire of Dexia to sell Dexia Asset Management.”
25/07/2013

New non-executive chairman for Legg Mason

P { margin-bottom: 0.08in; } The board of directors at Legg Mason Inc (USD645bn in assets as of 30 June) has elected Dennis M. Kass as non-executive chairman. He joined the board as a director in April 2013, and will continue to belong to the appointments and corporate governance committees, as well as the financial affairs and compensation committees.Kass retired in 2012 from his position as chairman of the asset management firm Jennison Associates, owned by Prudential Financial, after being elected as chairman and CEO of Jennison from 2003 to 2011.As non-executive chairman, Kass replaced W. Allen Reed, who had held the position since September 2012, and led the recruitment of a new CEO, Joseph A. Sullivan, in February 2013. Reed remains as director and chairman of the finance committee. He has been a director at Legg Mason since 2006.
25/07/2013

Profits down and assets up at Rothschild Bank

P { margin-bottom: 0.08in; } The Swiss Rothschild Bank group has announced consolidated net profits for the fiscal year ending on 31 March of CHF15.81m, compared with CHF19.6m, which represents a decline of 19.4%, at a time when gross profits total CHF30.88m, compared with CHF34.5m, a decline of 10.5%. Eric de Rothschild blames an increase in IT spending and seed capital as well as new and costly regulatory constraints for the decline.The annual report states that total AUM at the group have increased by 7.8% to a total of CHF20.3bn as of 31 March, of which CHF14.4bn (+8.3%) are for Rothschild Bank AG in Zurich. Net inflows of CHF334m came primarily from onshore activities in Germany, Switzerland and the United Kingdom, while international operations underwent net outflows. Overall, net outflows totalled CHF464m, compared with net subscriptions of CHF621m.
25/07/2013

Profits up at EFG International in first half

P { margin-bottom: 0.08in; } EFG International has published net profits for first half of CHF83.8m, an increase of 71% compared with the previous year. This increase is primarily due to the sale of its remaining stake in EFG Financial Products. Revenue-generating assets under management totalled CHF76.0bn, compared with CHF78.7bn as of the end of 2012, but were up 4% after adjustment for abandoned operations and reclassifications, a statement says. Net subscriptions totalled CHF1.9bn, compared with CHF1.2bn one year previously. Activities in continental Europe generated annual growth of 14%; Asian and the United Kingdom, respectively, posted growth of 7%, and 8%, while operations in the Americas stagnated, partly reflecting the impact of geopolitical factors in certain areas of activity; private banking activity in Switzerland, for its part, was up 4%.
25/07/2013

Edmond de Rothschild and BBM Investimentos cooperate on Brazilian market

P { margin-bottom: 0.08in; } The Edmond de Rothschild group and BBM Investimentos have signed a strategic cooperation agreement for Brazil. The operation aims to develop opportunities in asset management on the Brazilian market, particularly serving pension funds. “Brazilian funds represent approximately USD300bn in assets under management, and are authorised to invest up to 10% of their assets in non-Brazilian assets. So far, investments in foreign assets are still very low,” a statement says.The first practical step in the strategic alliance will be to launch two Brazilian-registered feeder funds for the Edmond de Rothschild Europe Synergy fund, a European equity fund managed by Edmond de Rothschild Asset Management. The first fund will be dedicated to pension funds, while the second will be aimed at private banking clients.The two groups may subsequently consider creating a Brazilian equity fund managed by teams at BBM Investimentos and available worldwide (except in the United States) from teams at Edmond de Rothschild Asset Management, to international institutional investors.
25/07/2013

Profits down at comdirect

In January-June, pre-tax profits for the comdirect group (Commerzbank) fell to EUR41.9m, compared with EUR53.1m in the corresponding period of 2012, while net profits totalled EUR31.14m, compared with EUR39.53m, despite an increase in operating costs to EUR127.32m, compared with EUR112.35m, due to “growth investments,” Thorsten Reitmeyer, chairman of the managing board, states.Assets under administration by the B2C unit (comdirect bank) as of 30 June totalled EUR29.3bn, compared with EUR27.91bn six months earlier, while assets at the B2B unit (ebase) were up to EUR21.45bn, compared with EUR20.95bn.
25/07/2013

bfinance recruits for asset management research team

P { margin-bottom: 0.08in; } The financial services consulting firm bfinance has announced the arrival of Roubesh Adaya, a specialist in bond markets, for its asset management research team. Adaya will be based in London. He will be responsible for the analysis of publicly-traded bond investment vehicles.
25/07/2013

80% of Asian institutionals are avoiding ETFs

P { margin-bottom: 0.08in; } In Asia-Pacific, 83% of institutional and 88% of retail investors are not invested in ETFs, according to the findings of a survey carried out by Deutsche Asset & Wealth Management, cited by Asian Investor.Over the past year, the popularity of ETFs has been in free-fall. Last year, only 36.6% of institutionals and 64.3% of retail investors were avoiding these products. The reason for the disaffection is “counterparty risks” for institutions and “excessive fees” charged by brokers, for retail investors.
25/07/2013

Lim Boon Heng is new chairman of Temasek

P { margin-bottom: 0.08in; } Singapore sovereign wealth fund Temasek has a new chairman, Finance Asia reports. Lim Boon Heng in this position replaces chairman S. Dhanabalan, who is retiring after 17 years at the helm of the institution. Like his predecessor, Lim is a former politician. He has served as a minister.
25/07/2013

KraneShares: an ETF of winners out of Chinese 5-year plans

P { margin-bottom: 0.08in; } On 22 July, the New York-based asset management firm KraneShares, which has an office in Beijing, has launched the first of seven funds focused on China, for which it had applied for a license from the SEC. The product is the KraneShares CSI China Five Year Plan ETF (NYSE Arca ticker: KFYP; ISIN code: US5007672075), which in normal circumstances will invest at least 80% of its assets in shares of the CSI Overseas China Five-Year Plan Index of companies which are likely to benefit most from Chinese five-year plans.The fund has a total expense ratio of 0.68%. It is 35% invested in information technologies, 16% in discretionary consumer products, 14% in industrials, and 14% in ongoing consumer products.The two largest positions are Tencent Holdings (13.64%) and Baidu Com (11.41%).
25/07/2013

Threadneedle sees lower redemptions than Columbia

P { margin-bottom: 0.08in; } The release of quarterly and first half results for Ameriprise Financial (see elsewhere in today’s Newsmanagers), the parent company of the two asset management firms Columbia Management and Threadneedle, reveals that the US affiliate in first half saw net redemptions of USD7.584bn, compared with USD10.523bn in January-June, while the British firm had only USD245m in net outflows, compared with USD2.176bn.However, this should be taken in context, since total assets at Threadneedle are far lower than at Columbia (they are equivalent to 37.9%): as of 30 June, with USD126.976bn, the British firm’s assets were down compared with 31 March (USd127.674bn) but up 9% compared with USD116.630bn as of the end of June 2012.At Columbia, assets as of 30 Jne 2013 totalled USD335.194bn, compared with USD341.327bn three months previously, and USD331.934bn one year previously.
25/07/2013

Chinese government issues new RQFII licenses

P { margin-bottom: 0.08in; } The Chinese securities commission (CSRC) on 23 July announced two new licenses for Renminbi qualified foreign institutional investors (RQFII), issued to Industrial Bank and Commercial Bank of China (Asia). On 13 July, Taiping Asset Management (Hong Kong) has also been issued this license, Z-Ben Advisors reports.There are now 37 holders of RQFII licenses, and quotas already assigned total CNY104.9bn.Fund management firms owned by banks or insurers have joined affiliates of asset management firms and brokerage firms in the circle of RQFII license holders. Currently, Hang Seng Investment Management is the only holder of an RQFII license not to be an onshore institution controlled entirely by a Hong Kong company.
25/07/2013
Gestion d'actifs

IRP Auto vient de retenir de nouveaux gérants

Epaulé par son consultant Insti 7, IRP Auto a procédé à la mise en concurrence de gérants sur la retraite complémentaire (500 millions d’euros sous gestion au total) : Lazard Frères Gestion a gagné le mandat Actions Zone Euro, HSBC AM a remporté le mandat obligataire (il gérait auparavant un mandat diversifié), Russell Investments France a gagné le mandat multigestion Actions Internationales. Il y a avait également un autre lot sur les Obligations. L’allocation d’actifs d’IRP Auto (sur la partie prévoyance) est d’environ 80/85% d’obligations, entre 15 et 20% d’actions et un peu de monétaire pour la trésorerie.
Gestion d'actifs
25/07/2013

Blackstone mise sur l’immobilier résidentiel espagnol

La mairie de Madrid a annoncé que le groupe américain lui avait acheté dix-huit lots d’habitations à loyers réglementés pour 125,5 millions d’euros. Blackstone contourne ainsi la Sareb, le fonds de défaisance chargé de céder les actifs à risque des banques espagnoles, pour racheter directement des actifs à des propriétaires en mal de liquidités comme les collectivités locales.
25/07/2013

Sanofi et Carlyle lorgnent des actifs de l'indien Elder

La filiale indienne du laboratoire français et la société américaine de private equity négocient selon Reuters chacune de leur côté la reprise de l’activité de formulation de l’indien Elder Pharmaceuticals pour 400 à 450 millions de dollars. Les génériques représentent 90% des ventes du secteur en Inde.
25/07/2013

SAC Capital dans la tourmente

Les autorités fédérales américaines pourraient bien selon des sources concordantes engager dès aujourd’hui des poursuites pénales à l’encontre du fonds alternatif fondé par Steven Cohen. Ce dernier échapperait pour l’instant à titre personnel à ces poursuites, étape clé dans une enquête ouverte il y a près de sept ans sur des soupçons de délits d’initiés.
25/07/2013

Lourde décollecte pour T.Rowe Price

Le gestionnaire d’actifs a publié une collecte nette négative à hauteur de 8 milliards de dollars au deuxième trimestre. Soutenu par un effet marché favorable, le montant des actifs sous gestion a reculé de 3,4 milliards à 614,0 milliards. Le résultat net du trimestre écoulé a toutefois progressé de 20%. Le gestionnaire a fermé en mai neuf de ses quinze centres d’accueil des investisseurs, se tournant davantage vers le téléphone et internet pour répondre à leurs besoins.

Sujets d'actualité

Tous les sujets