Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
01/07/2013

Eurazeo PME met la main sur Cap Vert Finance

La filiale d’Eurazeo spécialisée dans les entreprises de taille moyenne fait l’acquisition de Cap Vert Finance (CVF), leader européen de la gestion du cycle de vie des infrastructures informatiques, sur la base d’une valeur d’entreprise de près de 70 millions d’euros, rapporte L’Agefi. Eurazeo PME détiendra 57% du capital aux côtés des dirigeants, notamment Bruno Demolin, président du directoire. Loïc Villers, fondateur, conserve 8% du capital et reste président du conseil de surveillance.
01/07/2013

BlackRock finalise l’acquisition de l’activité ETF de Credit Suisse

BlackRock a annoncé le 1er juillet la finalisation de l’acquisition de l’activité ETF de Credit Suisse. Cette acquisition permet à BlackRock de renforcer sa présence en Suisse et d’étoffer la gamme de produits proposée aux investisseurs suisses via iShares, sa plateforme d’ETF. Cette acquisition vient par ailleurs compléter la gamme existante d’ETF iShares en l’enrichissant de fonds domiciliés en Suisse, en Irlande et au Luxembourg.Pour l’instant, la nouvelle entité exercera ses activités sous le nom d’ iShares. Les 58 ETF de Credit Suisse seront renommés et se négocieront comme les ETF iShares sur les bourses où ils sont cotés. Les codes ISIN et autres identifiants (tickers Bloomberg par exemple) resteront inchangés.iShares est présent sur le marché suisse pour répondre aux besoins des investisseurs locaux depuis 2003. Grâce à cette acquisition, iShares propose désormais la gamme d’ETF domiciliés en Suisse la plus étendue et diversifiée. Au 31 mai 2013, ces produits domiciliés en Suisse, investis dans des fonds actions, obligations et aurifères, s’élevaient à 7,7 milliards de francs suisses, soit 8,1 milliards de dollars.La nouvelle entité gèrera une gamme très liquide de fonds qui investissent dans les principaux indices suisses, tels que le benchmark indice SMI, Swiss Domestic Government Bonds Indices (SBI) et ETFs sur l’or physique.
01/07/2013
Fonds

Lyxor lance un ETF sur l'Euro Stoxx

NYSE Euronext annonce avoir admis à la négociation le 28 juin sur la place de Paris un nouvel ETF d’actions de Lyxor Asset Management calé sur les évolutions de l’indice Euro Stoxx. Ce produit est le 583ème coté sur les places européennes de NYSE Euronext, dont la cote comprend au total 672 ETF, en comptant les cotations secondaires.Caractéristiques :Dénomination : Lyxor ETF SXXT DR DIndice de référence : Euro StoxxTaux de frais sur encours : 0,3 %
Fonds
01/07/2013
Fonds

Sorties record pour les ETF américains en juin

Du 1er au 27 juin, les ETF cotés aux Etats-Unis ont subi des remboursements nets qui ont fait baisser l’encours total de 5 % à 1.424 milliards de dollars, selon les calculs d’IndexUniverse. De la sorte, les souscriptions nettes depuis le début de l’année sont ressorties à un peu moins de 71 milliards de dollars, contre 76 milliards pour le premier semestre 2012.Les plus fortes sorties en juin ont affecté les ETF d’actions internationales, atteignant presque 9 milliards de dollars, dont 4,9 milliards pour le seul iShare MSCI Emerging Market Index Fund. Les ETF obligataires ont accusé des remboursements nets supérieurs à 8 milliards de dollars, dont plus de 7 milliards pour ceux d’obligations américaines.
Fonds
01/07/2013

Avenir incertain pour Euronext

La convention de la Fédération européenne des Bourses (FESE) qui s’est tenue à Berlin en fin de semaine dernière a été dominée par l’incertitude sur l’avenir d’Euronext, rapporte L’Agefi. Chacun des grands acteurs - London Stock Exchange, Nasdaq OMX, Deutsche Börse, SIX - est un candidat à reprise de la Bourse paneuropéenne qui sera séparée dans les mois à venir du nouvel ensemble formé par ICE et Nyse, mais l’option d’un «stand alone» reste aussi ouverte. Le monde boursier est également travaillé par la révision de la directive sur les marchés de 2007 qui avait amené le London Stock Exchange à quitter FESE pour cause de divergence stratégique. Enfin, rappelle le quotidien, une dernière menace plane : la taxe sur les transactions financières dont le projet, présenté par la Commission européenne, fait l’unanimité contre lui.
01/07/2013
Fonds

L’opposition songe à scinder en deux le fonds souverain norvégien

Jan Tore Sanner, le vainqueur probable des prochaines élections en Norvège interrogé par le Financial Times, a lancé l’idée d’une séparation en deux du fonds souverain norvégien dont la taille - 720 milliards de dollars - commence à représenter un défi. Il confie au journal que si son parti (conservateurs) reprend le pouvoir en septembre, il aimerait créer un groupe d’experts pour étudier une telle option. Il ajoute que l’une des possibilités pourrait être d’avoir un fonds pour les actions et un autre pour les obligations ou deux fonds qui se concurrenceraient.
Fonds
01/07/2013

Record outflows from US ETFs in June

P { margin-bottom: 0.08in; } From 1 to 27 June, ETFs listed in the United States saw net redemptions which lowered total assets by 5%, to USD1.424trn, according to statistics from IndexUniverse. As a result, net subscriptions since the beginning of the year totalled slightly under USD71bn, compared with USD76bn in the first half of 2012.The heaviest outflows in June affected international equities ETFs, which totalled nearly USD9bn, with USD4.9bn from the iShares MSCI Emerging Market Index Fund alone. Bond ETFs saw net outflows of over USD8bn of which more than USD7bn were from US bond funds.
01/07/2013

Lyxor launches an ETF based on Euro Stoxx

P { margin-bottom: 0.08in; } NYSE Euronext has announced that on 28 June it admitted a new equity ETF from Lyxor Asset Management to trading on the Paris market. The product becomes the 583rd to be listed on the European markets of NYSE Euronext, which has a total of 672 ETF listings, including secondary listings.CharacteristicsName: Lyxor ETF SXXT DR DBenchmark index: Euro StoxxTotal expense ratio: 0.3%
01/07/2013

RSI buys an office property from KanAm

P { margin-bottom: 0.08in; }A:link { } For an undisclosed amount, the Régime Social des Indépendants (RSI) has purchased the office property located at 100 avenue de Suffren in Paris (10,000 square metres) from the German KanAm grundinvest fund.
01/07/2013

We prefer local distribution partners for our international development

The British asset management firm M&G Investments set out to conquer the European market in 2011, with a major geographical coverage.International assets now represent 25% of the EUR 72bn in retail assets under management at the firm. But eventually, it may reach 50%, Jonathan Willcocks, head of retail sales, tells Newsmanagers. To achieve this ambitious objective, it is relying on the strength of its relationships with its local distribution partners and its emphasis on multi-asset class products.
01/07/2013

Amundi SGR recruits for sales

P { margin-bottom: 0.08in; }A:link { } Stefan Aquati, who previously worked at ING IM, antonveneta and Scottish Equitable, is joining Amundi SGR as senior relationship manager for third party distribution, Investment Europe reports. He will report to Paolo Proli, director of external distribution. Amundi SGR currently has about EUR6bn in assets under management.
01/07/2013

Amundi recruits a senior client relationship manager

P { margin-bottom: 0.08in; }A:link { } Amundi Sgr, the Italian arm of the French asset management firm, has recruited Stefano Acquati as its new senior relationship manager in the third-party distribution team, Bluerating reports. He had previously been a retail side client adviser at ING Investment Management.
01/07/2013

Franklin Templeton recruits four in Italy

P { margin-bottom: 0.08in; } Franklin Templeton has recruited three people in Italy, who will become responsible for the new offices in Rome, Florence and Padua, Bluerating reports. Marco Magi, who will be based in Rome, previously worked at Monte Paschi di Siena. Alessia Pagni, who becomes head of the Florence office, joins from Deutsche Bank. Lastly, in Padua, Alessandro Gibelli is appointed. He had previously been at Eurobroker Italia. The institutional team at Franklin Templeton has also been reinforced with the arrival of Laura Belotti, who previously worked at Fineco Investimenti, Capitalia AM and Axa IM.
01/07/2013

Vontobel shuts down its private bank in Italy

P { margin-bottom: 0.08in; } Vontobel is on 1 July closing down its private bank in Italy, according to reports from Bluerating. The Swiss bank will now oversee this activity from Zurich. The decision comes as a result of the fact that private banking services in Italy were no longer in a position to achieve the necessary volumes to keep up with regulations and rising costs.
01/07/2013

Investors reconsider the case of EMD

P { margin-bottom: 0.08in; }A:link { } According to some investors cited by the Wall Street Journal, the wave of selloffs in emerging market bonds may not be over. It is the result both of the prospect of a slowdown both in bond purchases by the Fed and in growth in emerging markets. This is expected to lead investors to become more selective in future.Sergio Trio Paz, who manages about USD4bn in emerging market debt (EMD) at BlackRock, prefers Brazil to India, where returns are equivalent, because the Brazilian fundamentals are better and the Brazilian market is more liquid.Colm McDonagh, who had USD755m in EMD under management at Insight, prefers government debt issued by Mexico and the Philippines, fiscally solid countries, which are beginning to become attractive. However, South Africa is expected to remain under pressure, due to a lack of progress in fiscal recovery.Tim Dingemans, who manages USD80m in EMD at Adelante Asset Management, expects Chile and Indonesia, exporters of commodities, to remain under pressure, along with Turkey, due to political instability.
01/07/2013

Bond funds post another record outflow

Investors and financial markets responded to the US central bank’s desire to start winding down its current quantitative easing program, and possibly end it next year, by stampeding towards the exits. Investors pulled a net USD23.3 billion out bond funds going in the week ending June 26, according to EPFR.Among the fund groups setting new weekly redemption records were US, global, emerging markets, municipal, high yield and total return bond funds. At the country level, Italy, Spain, Canada, Mexico and Sweden Bonds were the only groups to attract over USD1 million in fresh money.The week ending June 26 also saw USD13.1 billion pulled out of all equity funds with dividend equity funds posting their biggest weekly outflow in over two years. China equity funds again posted outflows as net redemptions since the last week of February moved over the USD7 billion mark. There were modest inflows for Japanese equity funds.EPFR Global reports, without citing statistics, that France and Germany equity funds have posted inflows three and four consecutive weeks respectively, the longest inflow streaks for both since 3Q11.
01/07/2013

Commerz Real sells off institutional RE fund management

P { margin-bottom: 0.08in; }A:link { } For an undisclosed amount, Commerz Real (Commerzbank group) is selling its affiliate Commerz Real Spezialfondsgesellschaft (CRS), which includes institutional funds (Spezialfonds) with assets totalling EUR1.6bn to the institutional asset management firm Internos.The sale of this operation, which is “less profitable than others,” explicitly does not mean that Commerz Real (EUR35bn) is completely withdrawing from institutional real estate management.The transaction does not include the firm’s stake in Amprion (the former high voltage network from RWE), which was acquired in 2011 as part of a club deal.The Internos group has about EUR1.9bn in assets under management, the majority of which are on the German market.
01/07/2013

KanAm has already sold off one third of assets from grundinvest

P { margin-bottom: 0.08in; }A:link { } In July 2012, the Munich-based KanAm announced plans to liquidate the open-ended real estate fund grundinvest (DE0006791809), which at the time had assets totalling EUR6bn. Since then, the asset management firm has managed to sell off ten properties, with a total value of EUR2.2bn, and has paid off debts totalling EUR1.3bn, more than half of total debt.Fondprofessionell.de also reports that the distribution received by shareholders totalled EUR516m.Meanwhile, the fund’s debt level has been reduced to EUR1.3bn, more than half of all credit contracted.Nonetheless, the net asset value of shares in the fund was on 25 June reduced by EUR1.44, to EUR43.66, due to a reduction of EUR65m in the valuation of the portfolio by a group of independent experts.
01/07/2013

Chinese sovereign fund may have a new chairman

P { margin-bottom: 0.08in; }A:link { } According to several local media sources, the new chairman of the Chinese sovereign fund, China Investment Corp (CIC), has been appointed, Les Echos reports. The name of Ding Xuedong, former vice minister of finance, aged 53, is said already to have been announced to CIC employees during the day on Friday. The position has been vacant since Lu Juwei, former head of the CIC, became Chinese finance minister in March. Although, according to one Beijing financial sector source, “teams are working normally,” the situation was beginning to become intriguing: all other major positions in the Chinese financial superstructure had been filled.
01/07/2013

Target-date funds have over USD500bn

P { margin-bottom: 0.08in; }A:link { } In its study entitled “Target-Date Series Research Paper: 2013 Industry Survey,” Morningstar reports that at the end of first quarter of 2013, assets in target-date funds in the United States topped USD500bn.The agency also states that management commissions are continuing to fall, to 0.91% of assets from 0.99% in 2011.The three leaders, Vanguard Fidelity and T. Rowe Price, retain a market share of about 75%, despite the rapid rise of some small players. Meanwhile, four firms have closed their target-date fund activities: American Independence, Columbia, Oppenheimer and Goldman Sachs.Morningstar also reports that managers of ranges of target-date funds have considerably increased the exposure of their products to non-US equities: allocation to international equities has increased from 24% on average for funds maturing in 2040 as of 2005 to 36% as of 31 December 2012.
01/07/2013

Appetite for financial advising up among high net worth clients

P { margin-bottom: 0.08in; } Seven high net worth investors out of ten estimate that financial markets are currently too complicated not to rely on the assistance of an advisor, according to a survey by Charles Schwab. One third of respondents to the survey say that their demand for financial advising increased in the past twelve months, and three quarters say that they are much more confident when they take an investment decision with the help of a professional. Trust and transparency are at the heart of relationships between high net worth clients and advisers. But the survey finds that 72% of respondents trust individual finance specialists, while only 42% put their trust in financial services companies.
01/07/2013

Lloyds Banking Group Switzerland sharply cuts back staff

P { margin-bottom: 0.08in; }A:link { } According to Geneva’s La Tribune, Lloyds Banking Group Switzerland, whose assets were acquired by UBP at the end of May, may lay off several hundred employees out of the 380 it has in the cantons of Geneva and Vaud. According to an internal source, the layoffs may affect more than 50% of personnel.
01/07/2013

Avaloq retained by Deutsche Bank in Switzerland for wealth management

P { margin-bottom: 0.08in; } On 1 July 2013, the B-Source company, an affiliate of Avaloq will take over responsibility for the operation of the Operations back office at Deutsche Bank (Switzerland) SA for Wealth Management, according to a statement released on 28 june. B-Source, a provider of back-office services belonging to the Avaloq group, will be responsible for the operation of the Operations back office as well as the 80 employees at the Geneva site. The replacement of the central banking platform with the integrated Avaloq Banking Suite will take place in summer 2014. “B-Source thus supports the bank’s objective, which is now to concentrate on its core profession,” a statement says. Markus Gröninger, CEO of B-Source SA, says “the ongoing reinforcement of our community is a clear sign of our growth strategy, which is based in providing highly industrialised services which allow banks to concentrate on their core profession and on generating future growth.”
01/07/2013

Margins at asset management firms return to 2007 levels

P { margin-bottom: 0.08in; }A:link { } Pre-tax operating profits in the global asset management industry increased to 32%, their highest level since 2007, according to a survey by the consultant Casey, Quirk and Associates, cited by Financial News. Profits reached 34% in 2007, and then fell to 25% in 2009. The most rapid growth was for firms managing USD50m to USD200m.
01/07/2013

Société Générale Gestion may be fined up to EUR300,000

P { margin-bottom: 0.08in; }A:link { } The French financial market authority (AMF) on Friday demanded a fine of at least EUR300,000 against Société Générale Gestion (S2G) for shortfalls in the management of a fund (FCP) in 2010, Agefi reports. The regulator accuses it of a conflict of interest, as S2G was both manager of the fund and collateral manager of USD10bn in collateralized debt obligations (CDOs) in FCP funds, and was paid in these two capacities. S2G is also claimed not to have precisely and independently evaluated the indexed CDOs and performance swaps. That led to an increase in the net asset value of the fund, which was the reason for the AMF control, and which represents a loss for which shareholders require compensation if they sold their investments before December 2010. The asset management firm is also accused of failing in its duty to inform clients.
01/07/2013

Head of equity research leaves Pimco

P { margin-bottom: 0.08in; }A:link { } According to Citywire, John Longhurst is leaving his position as head of emerging markets at Pimco, which he joined in October 2011 from Capital International, Citywire reports.
01/07/2013

Schroders joins amLeague

P { margin-bottom: 0.08in; }A:link { } Schroders Investment Management Ltd. is joining the amLeague competition, and is launching its first portfolio no the Europe Equities mandate from 28 June.The announcement is all the more significant as amLeague is aimed at institutional investors at a time whe Nuno Teixeira, CEO of Schroders France, recently announced that the UK asset management firm is planning to build a presence on the French independent financial adviser market (see Newsmanagers of 17 June).
01/07/2013

Lansdowne Partners appoints a new CEO

P { margin-bottom: 0.08in; } One of the largest hedge funds in London, Lansdowne Partners, has appointed Alex Snow as its CEO, according to a statement released on 27 June. Snow will in September succeed the co-founder of the firm, Paul Ruddock, who is retiring at the end of June. Snow previously led the investment banking activities of Investec in the United Kingdom. The flagship strategy from Lansdowne Partners, Developed Markets Strategy, whose assets under management total about USD10bn, has earned average annual returns of 13.6% since 2001. The fund last year earned 18%, after losses of 20% the previous year.

Sujets d'actualité

Tous les sujets