Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
06/05/2013

Bruxelles écorne le pacte de stabilité

La révision en baisse des perspectives de croissance de la Commission européenne justifie le report du retour sous les 3% de déficit. Bruxelles accorde ainsi un répit de deux ans, jusqu’en 2015, à la France, dont le déficit se creuserait l’an prochain faute de réformes.
06/05/2013

Les gérants étrangers à la peine en Corée du Sud

Le quotidien souligne les difficultés éprouvées par les gestionnaires d’actifs internationaux pour bâtir une présence pérenne en Corée du Sud. 8 des 22 acteurs étrangers présents dans le pays y ont subi une perte au titre du quatrième trimestre 2012, avec des actifs en retrait contre une progression pour les acteurs locaux. Goldman Sachs a jeté l’éponge l’an passé en se retirant du marché.
06/05/2013

L’immobilier séduit le fonds souverain norvégien

Le fonds souverain norvégien, riche de 720 milliards de dollars d’actifs, presse le pas dans ses investissements dans l’immobilier. La valeur de ce segment de son portefeuille s’élève désormais à 6,5 milliards. Le fonds vise 5% de ses actifs à moyen terme et entend devenir «un grand nom dans le monde de l’immobilier», selon le quotidien.
06/05/2013

Santander délaisse la gestion d’actifs

Le quotidien britannique assure que la banque espagnole est en «négociations avancées» avec un tandem de private equity formé de Warburg Pincus et General Atlantic en vue de leur céder une «participation conséquente» au sein de son activité de gestion d’actifs. Santander a tenté à plusieurs reprises de se défaire de cette activité, dont les actifs sous gestion atteignent 161 milliards d’euros en Europe, au Royaume-Uni et en Amérique Latine. Mais les pourparlers s’avèrent délicats car un tiers des actifs sont en Espagne. L’opération évoquée par le quotidien permettrait à Santander à la fois de lever du capital et de soutenir le développement de l’activité.
03/05/2013

Knight Vinke calls for UBS to break up into two companies

P { margin-bottom: 0.08in; } Barely a few hours before the start of the UBS general shareholders’ meeting, Eric Knight sent out a letter in which he calls for the Swiss firm to be broken up into two parts, with the investment bank on one side, and wealth management on the other, Les Echos reports. The founder and CEO of Knight Vinke feels that the activities of the Zurich-based banking giant have “nearly destroyed” the group. “The investment bank is a very high-risk business, and these risks represent a serious threat to wealth management at UBS and to its banking network in Switzerland,” the shareholder, who holds less than a 1% stake in the bank, estimates. Shareholders nonetheless approved management pay scales, with 82.5% in favour.
03/05/2013

Neuberger hires 22 EMD specialists including 19 from ING IM

P { margin-bottom: 0.08in; } The New York-based asset management firm Neuberger Berman Group (USD216bn in assets as of the end of March) has announced that it has recruited 22 emerging market debt specialists, including twelve portfolio managers, six credit analysts and four economists and strategies, who will join a bond platform that employs over 100 investment professionals, led by Brad Tank, CIO fixed income, and which has USD97bn in assets under management.Of the new arrivals, 19 come from ING Investment Management, where they had been responsible for USD16bn in assets. The emerging market debt team at Neuberger Berman will be led by Rob Drijkoningen, based in the Hague, and Gorky Urquieta, based in Atlanta. On average, portfolio managers have 16 years of professional seniority Among the other members of the team from ING IM are Raoul Luttik, who will continue to be based in the Hague, and Prashant Singh, in Singapore.
03/05/2013

Profits up for AM at Prudential Financial

P { margin-bottom: 0.08in; } In first quarter 2013, the asset management unit of Prudential Financial has posted operating profits of USD175m, compared with USD128m in the corresponding period of last year.Assets under management as of 31 March totalled USD1.061trn, compared with USD1.060trn three months previously. As of the end of March 2012, assets were declared to be USD636.8bn (see Newsmanagers of 4 May 2012).
03/05/2013

Strong rise in profits at WisdomTree

P { margin-bottom: 0.08in; } For first quarter 2013, the New York-based asset management firm WisdomTree, a specialist in ETFs, has declared net profits of USD7.9bn, compared with USD5.3m in October-December, and USD1.1m in the corresponding period of last year.ETF assets totalled USD25.1bn as of 31 March, largely due to USD5.9bn in net subscriptions in January-March. Assets under management totalled USD18.3bn as of 31 December, with net inflows of USD1.1bn since 1 October, and they represented USD15.7bn one year earlier, with USD2.3bn in net subscriptions in first quarter 2012.The average advisory fee remained unchanged over the three periods of reference, at 0.54%. The increase in revenues was much more modest than the increase in net profits, at 24.5% for Q4 2012, and 53.1% year on year, for increases of 49.5% and 60.44% in net profits, respectively.
03/05/2013

Blackstone plans to recruit 50,000 veterans over 5 years

P { margin-bottom: 0.08in; } The private equity firm Blackstone on 30 April announced that it has signed up to a White House initiative to support military veterans and their families, announced by Michelle Obama. It plans to recruit 50,000 military veterans at the various businesses in its portfolio over the next five years.Blackstone is also planning to set up support structures, including a management trainee programme, to help veterans reinsert themselves into private sector careers.
03/05/2013

Franklin Templeton signs up to PRI

P { margin-bottom: 0.08in; } Franklin Templeton Investments on 2 May announced that in April 20133 it signed the United Nations Principles for Responsible Investment (PRI), joining a network of international invesftors which is enacting the six key principles of the UN PRI. The PRI provide a voluntary framework which aims to encourage sustainable investment through the integration of environmental, social and governance (ESG) analysis into investment decisions and financial practices.“The various management and strategy teams at Franklin Templeton are very similar to the principles of the PRI,” says Wylie Tollette, Senior Vice President and Director of Performance and Investment Risk Analysis (PAIR). “We have reviewed the principles with all of our management teams, and we have added dedicated ESG resources to our Investment Risk team. We feel that signing the PRI is a natural extension of the ESG management practices already in place at Franklin Templeton, and of our approach to risk management,” says Tollette.Assets under management at Franklin Resources totalled USD823.7bn as of the end of March 2013.
03/05/2013

SEC considers prohibition of constant NAV for “prime” MMFs

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } In a speech to the Investment Company Institute on Friday, Mary Jo White, the new chairwoman of the SEC, may discuss a staff project by the regulator to prohibit “prime” money market funds, which invest in very short-term corporate bonds, from using a constant net asset value (USD1), the Wall Street Journal reports.These funds are considered the most vulnerable to panic withdrawals. According to Crane Data, “prime” funds represent about 54% of total assets of USD2.6trn in US money market funds.
03/05/2013

Markus Kaiser reappears at StarCapital

P { margin-bottom: 0.08in; } Markus Kaiser, a former member of the board of directors at Veritas Investment and a pioneer of funds of ETFs (see Newsmanagers of 18 January), will on 1 July join the board at StarCapital AG, Institutional Money reports.Kaiser’s mission will be to develop the wealth management range at StarCapital through the use of ETF-based solutions.
03/05/2013

Morningstar acquires all of Morningstar Sweden

P { margin-bottom: 0.08in; } Morningstar has acquired the 76% of Morningstar Sweden which id did not yet control from Stadsporten Citygate, and two private investors. The acquisition price was USD13m, of SEK87m.Morningstar has 25 employees in Stockholm. George Sallfeldt, CEO, will continue to direct the firm.
03/05/2013

USD2bn fund launched in China

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Fang Fenglei, non-executive chairman of the activities of Goldman Sachs in China, a well-known financial investor with close ties to the Politburo, is seeking to raise USD2bn to USD2.5bn in funds to invest in China and abroad, according to the Financial Times, citing sources familiar with the matter. The new fund, entitled “Hopu Master fund II,” is reported to have already received commitments totalling USD1bn.
03/05/2013

Zurich launches a fund with Schroders and Threadneedle

P { margin-bottom: 0.08in; } Zurich has signed a partnership with Schroders and Threadneedle to launch a default fund, Money Marketing reports. The fund, the Zurich Dynamic Lifestyle Portfolio, includes three underlying funds: Mixed Investments and DC Pre-Retirement, managed by Schroders, and the Zurich Deposit & Treasury fund, managed by Threadneedle. The new fund is designed to automatically attenuate the impact of market volatility. It also includes an automatic mechanism to reduce sensitivity to risk, which kicks in five years before the horizon date for retirement.
03/05/2013

One in three pension funds has difficulty keeping up with regulations

P { margin-bottom: 0.08in; } According to a survey by State Street Corporation, one third of European pension funds feels that keeping up with the pace of new regulations is either “difficult” or “very difficult,” while 46% estimate that the task is “slightly” difficult. Only 21% of respondents consider regulatory requirements of regulators and ratings agencies do not represent a challenge.The study was based on 150 responses from pension funds based in Germany, Italy, the Netherlands, Scandinavia, Switzerland, and the United Kingdom.
03/05/2013

FTT worries asset management firms

P { margin-bottom: 0.08in; } Several major European asset management firms are warning that the size and impact of the financial transaction tax may discourage investment in businesses with strong growth, the Financial Times reports. Among those who are expressing concerns of this nature are the CEOs of Allianz Global Investors, Fielity and APG Asset Management.
03/05/2013

First Trust launches senior loans ETF

P { margin-bottom: 0.08in; } The New York-based asset management firm First Trust on 2 May introduced the First Trust Senior Loan ETF (ticker: FTSL) on NASDAQ. The product, specialised in senior loans, is actively managed, so as to generate attractive risk-adjusted returns in absolute terms over the long term.First Trust states that the fund offers protection against rises in interest rates due to the fact that most of the senior loans in which the portfolio is invested are floating rates. The ETF also provides a way to diversify investments, due to the low historical correlation between senior loans and other asset classes.The fund charges fees of 0.85%.
03/05/2013

Three new ETFs from Lyxor listed on Euronext Paris

P { margin-bottom: 0.08in; } Lyxor Asset Management has listed three new equity ETFs for trading on NYSE Euronext Paris, which extends the listings on the European platforms of NYSE Euronext to 673, of which 583 are primary listings. The new products are: Lyxor ETF Europe DR (MEUD), which replicates the MSCI Europe, and charges fees of 0.30%, Lyxor ETF SX5T (MSEC), which replicates the Euro Stoxx 50 with a TER of 0.20%, andLyxor ETF Japan Hedged (JPNH), which tracks the Topix Gross TF Index, and which charges fees of 0.45%.
03/05/2013

Richland Asian Absolute Return hedge fund closed

P { margin-bottom: 0.08in; } Richland Capital Management has USD100m in assets under management in two hedge funds, which include the best-known hedge funds in Asia, finews reports. The Richland Asian Absolute Return fund, launched in 2006 by Eve Lo, formerly of Credit Suisse, has since its inception earned only positive returns. According to sources familiar with the matter, cited by Reuters, the fund is expected to close. Finews has not been able to confirm these reports, nor obtain details as to the reasons for the closure.

Sujets d'actualité

Tous les sujets