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11/04/2013

Signaux contrastés pour l'immobilier francilien

Le volume de demande placée dans l’immobilier de bureaux francilien a chuté de 24% au premier trimestre sur un an en raison de la situation économique dégradée. Malgré tout, cela n’a pas entamé l’appétit des investisseurs. Le montant des investissements a bondi de 42% sur le trimestre.
11/04/2013
Gestion d'actifs

L'ANCV décale l'annonce des résultats de l'appel d'offres pour la gestion dédiée de 4 FCP obligataires ISR et 1 FCP monétaire

L’Agence Nationale pour les Chèques Vacances (ANCV) a décidé de se donner jusqu’au 13 mai prochain pour analyser les offres qu’elle a reçues dans le cadre de son appel d’offres pour la gestion dédiée de 4 FCP obligataires diversifiées ISR et 1 FCP monétaire dynamique. Alors que la sélection finale devait être initialement connue au plus tard à la fin du mois de mars dernier, l’annonce a donc été décalée à la mi-mai, d’après le trésorier de l’ANCV, Alain Quinquennel. La dizaine de sociétés de gestion qui ont remis une dernière version améliorée de leur offre pour chaque lot sauront donc à cette date lesquelles d’entre elles ont été retenues pour succéder à BNP Paribas AM, Natixis Global AM et Groupama AM, dont les mandats de gestion dédiée expirent en juin 2013. La modification du calendrier final serait du au « retard à l’allumage » de l’appel d’offres, l’Agence Nationale pour les Chèques Vacances l’ayant lancé plus tard que prévu, le 6 novembre 2012 au lieu du 15 juillet.
Gestion d'actifs
11/04/2013
Gestion d'actifs

CCI Grand Lille met en jeu des mandats de gestion de capital-investissement

Le présent marché a pour objet la désignation de prestataires ayant qualité d'établissements de crédit ou de sociétés spécialisées dans la gestion de sociétés de capital-investissement, de fonds de financement ou de portefeuilles de participation, pour la gestion administrative et financière du fonds de financement CCI Prévention 2 d’un montant global de 2 000 000,00 EUR (deux millions d’euros). Le marché est conclu pour une durée correspondant à la période d’attribution des prêts (12 mois), augmentée de la durée de remboursement des prêts consentis (4 ans) et jusqu'à restitution définitive des soldes créditeurs du fonds de financement CCI Prévention au Pouvoir Adjudicateur. Le marché prendra effet à la date du versement des sommes constituant le fonds de financement CCI Prévention. Lot nº: 1 Mandat de gestion Fonds de Financement CCI Prévention 2 Gestion administrative et financière d’une enveloppe d’un million d’euro. Lot nº: 2 Mandat de gestion Fonds de Financement CCI Prévention 2 Gestion administrative et financière d’une enveloppe d’un million d’euro. Pour lire l’avis complet : cliquez ici
Gestion d'actifs
10/04/2013

Chypre vend de l’or pour contribuer au financement du plan

Nicosie a décidé de céder des réserves d’or pour un montant de 400 millions d’euros afin de contribuer au financement de sa part dans le plan de renflouement, montre une évaluation des besoins de financement de Chypre préparée par la Commission européenne. Chypre obtiendra 600 millions d’euros supplémentaires sur 3 ans grâce au relèvement de l’impôt sur les sociétés et à une hausse de l’imposition des plus-values mobilières.
10/04/2013

Les pays contribueront aux recapitalisations directes par le MES

Lorsqu’une banque sera directement recapitalisée par le Mécanisme européen de stabilité (MES), le pays concerné devra contribuer au coût de cette opération dans une fourchette comprise entre 10% et 20%, a glissé à Reuters une source haut placée à l’Union européenne. «Il y aura toujours une certaine participation à la recapitalisation par l’Etat membre concerné», a-t-il expliqué. L’Eurogroupe discutera de ce sujet lors d’une réunion informelle à Dublin vendredi.
10/04/2013

Mary Jo White officiellement investie à la tête de la SEC

L’ex-procureur fédéral et avocat d’affaires a officiellement prêté serment en tant que nouvelle présidente de la Securities and Exchange Commission (SEC). Elle a dans la foulée rejoint une réunion au cours de laquelle la SEC a adopté de nouvelles règles imposant aux courtiers, fonds communs de placement et conseillers d’investissement d’établir des plans de prévention d’usurpation d’identité.
10/04/2013

La Fed a débattu d’un allègement du QE3

«Quelques membres estimaient que les risques et les coûts de ces rachats, ainsi que l’amélioration des perspectives depuis l’automne dernier, devraient justifier un ralentissement du rythme des rachats autour du milieu de l’année, avec une interruption des rachats plus tard dans l’année», indiquent les minutes du FOMC des 19 et 20 mars.
Préambule des minutes du FOMC des 19 et 20 mars. Photo: PHB
10/04/2013

Brevan Howard recrute un spécialiste devises

Brevan Howard Asset Management a recruté Neilan Govender, un ancien trader devises et taux senior de Credit Suisse, en tant que gérant de portefeuille à Londres, selon les informations de Financial News. Il a quitté Credit Suisse en mars.
10/04/2013

Merger on the cards in online currency trading

P { margin-bottom: 0.08in; } Agefi reports that FXCM has proposed a buyout of Gain Capital Holdings for USD210m in shares. The operation would merge the two largest US players in online currency trading.
10/04/2013

Janus creates a position for a CIO for equities and asset allocation

P { margin-bottom: 0.08in; } After serving as president and chief investment officer at Munder Capital Management, and then for six years as CIO and executive vice president of American Century Investments, Enrique Change will be joining Janus Capital Group in September, following a gardening leave, in the newly-created position of CIO for equities & asset allocation.He will report to Richard Weil, CEO.As CEO for equities, he succeeds Jonathan Coleman, who has asked to focus on portfolio management, and has been appointed as head of growth equities.
10/04/2013

Ecofi Investissements gets a new head of sales

P { margin-bottom: 0.08in; } Ecofi Investissements has announced the appointment of Laurent Vidal as director of sales from 4 February. He also becomes a member of the board of directors. Vidal, 42, was director of clearing activities at Calypso. He previously served as director of sales at State Street and Sunguard, and head of bonds at NYSE-Euronext, a statement says.
10/04/2013

Fidelity adds a seventh fund to its FAST range

P { margin-bottom: 0.08in; } With the Luxembourg-registered Asia Fund sub-fund, Fidelity Worldwide is adding a seventh fund available in France to the Luxembourg Sicav Fidelity Active Strategy (FAST). The product, launched in late January 2013, had assets of USD24m as of 31 March. It is aimed at clients likely to be able to meet a minimal subscription of USD50,000.Like other FAST funds (USD5bn in total assets), net exposure to equities may total 135% of active assets for the long allocation, and 30% for the short portion, while the range may not be assimilated into 130/30 portfolios, as the managers short only strong convictions, but are not required to remain constantly short. In normal market conditions, net exposure to equities for the entire portfolio will range from 90% to 110% of assets.As Alex Homan, investment director, explained in a presentation in Paris, the decisive element for FAST products is the selection of equities, not the market timing. For his part, Suranjan Mukherjee, portfolio manager, said the Asia fund management team, can rely on the support of 42 on-site analysts. It uses options only to express an opinion on shares, and tracking error as of the end of February was limited to 2.9%. Net exposure to equities was 105.1%.CharacteristicsName: FAST Asia FundISIN code: LU0862795175Management commission: 1.50%
10/04/2013

Axa IM launches a SmartBeta fund of international corporate bonds

P { margin-bottom: 0.08in; } Axa Investment Managers has announced that it has added to its SmartBeta product range with the release of a new fund investing in international corporate bonds. Axa World Funds (WF) Global SmartBeta Credit Bonds, which is aimed primarily at institutional investors, is managed by Damien Maisonniac in Paris. The fund, created on 15 January 2013, complies with the European Union’s UCITS IV standards, and is domiciled in Luxembourg. The fund applies a “strategic buy and hold” strategy, which “aims for capital increase while avoiding default and turnover risks,” a statement says. AXA IM has over EUR300bn in bond assets under management (as of 30 December 2012). Axa WF Global SmartBeta Credit Bonds is available from a minimal investment of EUR5m, and is available in the following currencies: euro, USD, GBP, CHF and AUD.
10/04/2013

Axa IM releases Global Optimal Income fund in Germany

P { margin-bottom: 0.08in; } BaFin has issued a sales license for Germany to the all-weather Global Optimal Income sub-fund of its Luxembourg Sicav Axa WF, Axa Investment Managers announced on 9 April (see Newsmanagers of 26 March).
10/04/2013

VelocityShares lists 3 emerging market ETFs

P { margin-bottom: 0.08in; } The US asset management firm VelocityShares, which is known primarily for its ETN and leveraged products, has launched three ETFs on NASDAQ, Index Univese reports. They are products focused on emerging markets, which invest in “relatively liquid” ADRs listed in London. The three funds each charge fees of 0.65%. The ETFs are as follows: •VelocityShares Emerging Markets Depositary Receipt ETF (ticker: EMDR)•VelocityShares Russia Select Depositary Receipt ETF (RUDR)•VelocityShares Emerging Asia Depositary Receipt ETF (ASDR)
10/04/2013

UBS creates an international sales team dedicated to hedge funds

P { margin-bottom: 0.08in; } As part of the creation of an international sales team dedicated to hedge funds at UBS, Thomas Anglin, director of sales to these clients in Australia, will move to New York. According to Finews, citing the Wall Street Journal, Anglin and his colleague, Fred Liljewall, will be overseen by Matt Foulds, director of Equity Distribution. The team will be reinforced in the next few months.
10/04/2013

Profits recover at Deka in 2012

P { margin-bottom: 0.08in; } “Economic profits” (pre-tax profits according to IFRS accounting standards, plus proceeds from valuation of financial instruments) at Deka last year rose 35.6% to EUR519.3m, while they had fallen 58.6% in 2011, to EUR383.1m.The news confirms predictions by Georg Fahrenschon, chairman of the German federation of savings banks (DSGV) a month ago (see Newsmanager of 7 March), but total assets as of the end of December totalled EUR158.3bn, down from th EUR162.6bn announced at the time. This total nonetheless represents an increase of EUR7.3bn compared with the end of 2011, due to market appreciation.The central asset management firm for the German savings banks last year nonetheless underwent net outflows (excluding ETFlab, the ETF affiliate) of EUR231m, compared with EUR5.861bn in 2011. Institutional activities brought in a net inflow of EUR2.3bn, compared with EUR0.4bn, while retail suffered net redemptions of EUR2.5bn, compared with EUR6.2bn the previous year.The primary contributor to subscriptions from all categories of clients combined was the real estate unit, which posted net inflows of EUR1.6bn, compared with EUR1bn in 2011. Deka states that for open-ended funds, fourth quarter brought net inflows of EUR1.8bn, compared with net outflows of EUR3.6bn in the first nine months of the year.
10/04/2013

ACMBernstein rationalises distribution in Germany

P { margin-bottom: 0.08in; } ACMBernstein is now pooling its funds and institutional distributions for Germany and Austria under the single leadership of Martin vom Hagen, Institutional Money reports. Georg von Kyd-Rebenburg, a member of the board responsible for fund distribution, is leaving the business.
10/04/2013

Brevan Howard recruits a currencies specialist

P { margin-bottom: 0.08in; } Brevan Howard Asset Management has recruited Neilan Gavender, a former currency trader and senior fixed income specialist at Credit Suisse, as a portfolio manager in London, according to reports in Financial News. He left Credit Suisse in March.
10/04/2013

Absorption of Banif triggers a reshuffle at Santander

P { margin-bottom: 0.08in; } The integration of the Banif private bank (EUR31bn in assets) into Santander has resulted in a modification of the structures of the latter, which is planning to rename its commercial banking division as “banca comercial, España,” led by Enrique García Candelas, CEO. The division includes corporate, retail and private banking, Funds People states.The private banking unit includes the activities of the private bank of the commercial network, as well as Banif. It is led by Edouardo Suárez, who had previously been head of Banif.Asset management will continue to be led by Javier Marín.
10/04/2013

Pepijn Heins leaves Eaton Vance

P { margin-bottom: 0.08in; } In a letter sent to investors by Niall Quinn, managing director and CEO of Eaton Vance Management (International) Ltd., the asset management firm has announced that its head of business development for Europe, Pepijn Heins, has decided to leave the business, Investment Europe reports.Until a successor can be appointed, the responsibilities of the outgoing man will be provisionally assumed by Sebastian Vargas, business development director, and Stephen Tilson, senior international sales & client service analyst.
10/04/2013

Simon Klein joins Deutsche AWM

P { margin-bottom: 0.08in; } The former head of ETFs in Europe and of development, ETFs and tracker products, at Lyxor Asset Management, Simon Klein, has been appointed to the newly-created position of head of ETF & ETC sales for Europe, the Middle East, Africa and Asia in the asset and wealth management (AWM) division of Deutsche Bank, which he joined in January (see Newsmanagers of 10 December).Klein will report to Thorsten Michalik head of passive, global client group at Deutsche AWM.
10/04/2013

Head of Azimut earns a stable income

P { margin-bottom: 0.08in; } Pietro Giuliani, the chairman and CEO of the Italian asset management firm Azimut, earned an income of EUR1.49m for the 2012 fiscal year, Bluerating reports. This is in line with the previous fiscal year.
10/04/2013

Grant Leon leaves Aberdeen for Capital Group

P { margin-bottom: 0.08in; } The US firm Capital Group has announced that it has recruited Grant Leon as head of sales. He will be based in London, and will work with global, regional and local financial institutions, Funds People reports. Leon has spent 15 years at Aberdeen Asset Management, most recently as head of global financial institutions.
10/04/2013

Ignis posts GBP1.6bn in inflows in 2012

P { margin-bottom: 0.08in; } The British firm Ignis Asset Management has reported a net inflow for the 2012 fiscal year of GBP1.6bn, according to final results released on 5 April.Assets under management as of the end of December totalled GBP68.3bn, Ignis states, while for mandates won in 2012, it will integrate an allocation of GBP1.6bn during the year.Ignis has also recruited Mira Bhogaita as a portfolio manager in the team dedicated to British equities, Fundweb states.Bhogaita had previously worked at LV=Asset Management as a British equity portfolio manager for the LV=Group retirement programme.She will report to Graham Ashby, head of British equity activities, and will oversee a team of eight managers, responsible for about GBP5.9bn in assets for retail and institutional clients.
10/04/2013

New director of marketing for Sarasin & Partners

P { margin-bottom: 0.08in; } Fundweb reports that Sarasin & Partners has recruited Sarah McCarthy as head of marketing. She had previously been executive director at Goldman Sache Asset Management, and previously served as senior marketing manager at Fidelity Worldwide Investment.
10/04/2013

Adam Cordery of Schoders joins Santander AM

Santander Asset Management, Grupo Santander’s asset management unit, has appointed Adam Cordery as Global Head of European Fixed Income within its global investment team.Cordery joins Santander Asset Management having previously worked at Schroders where he was in charge of building portfolios and managing European fixed income funds in Euros and Sterling. With over 15 years’ experience in the industry, Cordery will be responsible for Santander Asset Management’s European fixed income and credit teams across all of the European countries in which the company operates. These teams are currently made up of 17 professionals, responsible for over €13 billion of assets under management through different investment vehicles (investment funds, pension and institutional mandates).
10/04/2013

L'absorption de Banif provoque une réorganisation du Santander

L’intégration de la banque privée Banif (31 milliards d’euros d’encours) au sein du Santander s’est traduite par une modification des structures de ce dernier, qui vient de rebaptiser sa division banque commerciale «banca comercial, España», sous la direction d’Enrique García Candelas, directeur général. Cette division couvre la banque des entreprises, la banque de détail et la banque privée, précise Funds People.Le pôle banque privée regroupe les activités de banque privée du réseau commercial ainsi que celles de Banif. Il est placé sous la responsabilité d’Eduardo Suárez, qui dirigeait auparavant Banif.Quant à la gestion d’actifs, elle reste sous les ordres de Javier Marín.

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