Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
06/12/2012
Fonds

Index IQ liquide un mini-ETF

Lancé en juillet 2011, le IQ Emerging Markets Mid Cap ETF (acronyme sur NYSE Arca: EMER) n’a drainé que 1,7 million de dollars d’encours. Dès lors, rapporte Index Universe, ce fonds sera liquidé le 18 décembre, conformément à une décision du conseil d’administration prise le 3 décembre.L’encours de ce fonds représente moins de 0,5 % des actifs gérés dans des ETF par IndexIQ, qui s'élèvent au total à 590,2 millions de dollars
Fonds
06/12/2012

Carmignac Gestion reconnait les effets favorables des nouvelles réglementations sur les dérivés

Sandra Crowl est membre du comité d’investissement de Carmignac Gestion. Elle estime que la mise en place des nouvelles réglementations sur les dérivés de gré à gré (OTC) devrait avoir des effets favorables en termes de gestion des risques. «La compensation obligatoire de ces transactions par l’intermédiaire d’une chambre de compensation va en effet réduire les risques de contrepartie et opérationnels car elles seront mieux contrôlées et plus transparentes. Ce sera aussi positif pour le marché car cela va fluidifier les opérations grâce à la mise en place de meilleurs systèmes», explique-t-elle à L’Agefi Hebdo. Sandra Crowl rappelle que Carmignac Gestion a toujours eu «une politique de gestion des contreparties rigoureuse». Le collateral est échangé de manière quotidienne. «Pour le moment, nous ne sommes donc pas obligés de modifier nos stratégies de façon substantielle. Enfin, nous attendons de savoir quelles seront les conditions concrètes de mise en œuvre d’Emir pour sélectionner un ou plusieurs clearing brokers actifs sur les chambres de compensation dont nous aurons besoin», ajoute-t-elle.
06/12/2012
Fonds

Paulson échoue sur le thème de la zone euro

La crise de la dette dans la zone euro a été préjudiciable pour John Paulson, causant des pertes importantes pour son ancien fonds vedette, relève le Financial Times. Le gérant avait parié sur un échec de l’union monétaire. Mais il a réduit ses positions basées sur cette idée depuis que la Banque centrale européenne a annoncé qu’elle interviendrait en faveur de la zone euro. La stratégie Advantage Plus de John Paulson était en baisse de 18,4 % fin octobre depuis le début de l’année. Il s’agit de la deuxième année de perte pour le fonds.
Fonds
06/12/2012

Citigroup va supprimer 11.000 postes

Citigroup va procéder à la suppression de 11.000 postes, représentant environ 4% des effectifs, rapporte L’Agefi. Ces mesures se traduiront par une charge imposable d’environ un milliard de dollars (765 millions d’euros) dans les comptes du quatrième trimestre et de quelque 100 millions de dollars sur le premier semestre 2013. Le pôle dédié aux clients institutionnels, incluant les activités de trading et de banque d’investissement, subira 1.900 suppressions de postes, dont plus de la moitié concernera les fonctions support.
06/12/2012
Fonds

Blackstone à Paris se concentre sur le conseil aux institutions financières

Blackstone se concentre désormais depuis Paris sur le conseil aux institutions financières en Europe, rapporte L’Agefi. Selon Nicolas Hubert, nouveau patron opérationnel en France et qui succède succède au binôme Steg-Richier, Blackstone est actuellement en train de conclure une transaction auprès d’une banque française et une autre pour les actionnaires d’une banque turque. Blackstone serait aussi sur le point de racheter le siège de Crédit Agricole Corporate and Investment Bank, qui ne veut pas commenter l’opération.
Fonds
06/12/2012
Fonds

NCB Capital lance une plate-forme de fonds coordonnés

Le gestionnaire de fortune saoudien NCB Capital vient de mettre en place une plate-forme de fonds coordonnés enregistrée en Irlande.NCB Capital propose d’ores et déjà deux fonds sur cette plate-forme, le NCB Capital Saudi Arabian Equity Fund et le NCB Capital GCC Equity Fund, deux véhicules conformes à la charia qui investissent dans des sociétés cotées d’Arabie saoudite et d’autres pays du Conseil de coopération du Golfe (GCC). Les deux fonds seront distribués à l’international en collaboration avec Amundi qui a conclu en mars dernier une alliance stratégique avec NCB Capital.
Fonds
06/12/2012
Fonds

Pictet lance son fonds d'actions de qualité

Conformément à ce qu’avait annoncé Newsmanagers le 20 novembre, Pictet Funds (Eruope) a enregistré dans sept pays européens et un pays asiatique, entre 31 octobre et le 29 novembre, le fonds Pictet-Quality Global Equities, un OPCVM d’actions mondiales de qualité géré par Laurent Nguyen, head of active quantitative investments and SRI. Ce produit démarre avec 19,8 millions d’euros..CaractéristiquesDénomination : Pictet-Quality Global Equities-R EURCode Isin : LU0845340305Commission de gestion 1.7% Droits de garde 0.03% Frais administratifs 0.22%Enregistrement : Allemagne, Autriche, Finlande, France, Liechtenstein, Luxembourg, Royaume-Uni et Singapour
Fonds
06/12/2012
Fonds

Investec AM lance un fonds d’actions mondiales

Investec Asset Management a lancé un fonds d’actions mondiales dont l’objectif est d’associer rendements élevés et faible volatilité, rapporte Citywire Global. Le fonds Investec GSF Global Endurance Fund sera géré par le duo Christine Baalham et Nigel Hankin. Il se concentrera sur les actions d’entreprises mondiales distribuant les plus forts rendements tout en évitant les plus volatiles.
Fonds
06/12/2012

Henderson recrute encore chez Cushman & Wakefield

Après Kathrin Andres il y a deux mois (lire Newsmanagers du 4 octobre), Henderson Global Investors a de nouveau embauché pour l’équipe immobilière de son bureau de Francfort un spécialiste chez Cushman & Wakefield. Il s’agit cette fois de James Ellis, qui devient assistant portfolio manager. Il sera responsable de fournir des éléments de mesure de la performance et d’analyse pour les fonds AUB Opportunity III et Henderson German Logistics.
06/12/2012
Fonds

Summit lance un fonds allemand d’infrastructures “eau”

Le gestionnaire californien Summit Global Management (460 millions de dollars) lance avec le francfortois Universal-Investment et le consultant helvétique Green Shoots Capital (50 milliards d’euros conseillés) un fonds d’actions de droit allemand spécialiste des infrastructures dans le domaine de l’eau, le Summit Water Absolute Return UI.Il s’agit d’un produit d’actions long/short qui réplique sous un format coordonné un fonds américain de Summit avec un parti-pris de développement durable et de respect des critères environnementaux, sociaux et de gouvernance (ESG). Le fonds est géré par John Dickerson.CaractéristiquesDénomination: Summit Water Absolute Return UICodes Isin: DE000A1JZK84 (parts A, retail)DE000A1JZK92 (parts B, institutionnels)Droit d’entrée: 5 % maximum (parts A)Commissions de gestion:1,85 % (parts A)1,25 % (parts B)Commission de performance: 10 % de la performance positive + 400 pb points de base (taux butoir) avec high watermark
Fonds
06/12/2012

Pimco patents a GDP-weighted bond index

The US Patent & Trademark Office has issued a patent to Pimco (Allianz Group), Bill Gross (co-CIO) and Ramin Taloui (global co-head of emerging markets portfolio management) for the methodology underlying the Global Advantage Bond Index (GLADI). The patent application was filed in November 2008.The bond index aims to better capture investment opportunities in an environment of “new normal.” It is weighted according to GDP and not cap-weighted, in order to offer higher risk-adjusted returns than those delivered by traditional methods.
06/12/2012

UBS veteran takes charge of Sherbank private bank

Finews reports that Anna Tokaeva has quit her position as head of UBS Global Asset Management Russia in order to take charge of the Sherbank private bank. The Russian banking group has recently launched its activities dedicated to high net worth clients.
06/12/2012

Pictet launches quality equity fund

As announced in Newsmanagers on 20 November, Pictet Funds (Europe) has registered the Pictet-Quality Global Equities fund in seven European countries and one Asian country between 31 October and 29 November. The countries are Germany, Austria, Finland, France, Liechtenstein, Luxembourg, the United Kingdom and Singapore, and the product is a quality global equity fund, managed by Laurent Nguyen, head of active quantitative investments and SRI. The product is starting up with EUR19.8m (4 December), and was launched on 30 November.CharacteristicsName: Pictet-Quality Global Equities-R EURISIN code: LU0845340305Management commission: 1.7%Custody charge: 0.03%Administrative fees: 0.22%
06/12/2012

Investec AM in a global equity fund launch

Investec Asset Management has launched a global equity fund whose target is to deliver high returns and low volatility, Citywire Global reports. The Investec GSF Global Endurance Fund will be managed by Christine Baalham and Nigel Hankin. It will focus on global equities which distribute the highest returns while avoiding the most volatile.
06/12/2012

NCB Capital launches a UCITS-compliant fund platform

The Saudi wealth management firm NCB Capital has created a UCITS-compliant fund platform registered in Ireland. NCB Capital now offers two funds on the platform, the NCB Capital Saudi Arabian Equity Fund and the NCB Capital GCC Equity Fund, two Sharia-compliant vehicles which invest in companies listed in Saudi Arabia and other Golf Co-operation Council (GCC) countries. The two funds will be distributed internationally in partnership with Amundi, which signed a strategic alliance with NCB Capital in March.
06/12/2012

Index IQ liquidates a mini-ETF

The IQ Emerging Markets Mid Cap ETF (NYSE Arca ticker: EMER), launched in July 2011, has attracted only USD1.7m in assets. Now, Index Universe reports, the fund will be liquidated on 18 December, in line with a decision taken by the board on 3 December.Assets in the fund represent less than 0.5% of assets under management in ETFs monitored by IndexIQ, which total USD590.2bn.
06/12/2012

Paulson in losing bet on euro zone

The euro zone debt crisis has been a setback for John Paulson as it has caused significant losses for his former flagship fund, the Financial Times reports. The manager bet that the monetary union would collapse. But he has reduced his positions based on this supposition since the European central bank has announced that it will intervene in favour of the euro zone. The Advantage Plus strategy from Paulson showed losses of 18.4% since the beginning of the year as of the end of October. This is the second year of losses for the fund.
06/12/2012

Schroders releases Schroder ISF RMB Fixed Income in France

Schroders on 5 December announced the launch of the Schroder ISF RMB Fixed Income fund in France. The new, recently-created strategy (see Newsmanagers of 28 November), which is also on sale in Spain, offers investors an opportunity to access the Chinese bond market denominated in local currencies. The fund is actively-managed, and will be based on the RMB Investment Grade Bond Total Return Index as its benchmark. It is managed by the Asian fixed income management team at Schroders, which relies on the expertise of more than 30 credit analysts worldwide, led by Rajeev De Mello, head of Asian fixed income management, and Angus Hui, Asian bond portfolio manager. The fund aims to construct a diversified portfolio which best expressed the vision of the team for the orientation of the Chinese bond market in terms of selection of maturities on the interest rate curve, choice of sectors and issuers. The fund invests in Chinese government bonds as well as in local and foreign corporate bonds issued in renminbi. The Schroder ISF Fixed Income fund aims for long-term capital growth denominated in renminbi (RMB), and allowing investors to benefit from growth on the bond market supported by solid economic fundamentals.
06/12/2012

Summit releases a German water infrastructure fund

California-based asset manager Summit Global Management (USD460m) is launching a German-registered equity fund with the Frankfurt-based Universal-Investment and the Swiss Green Shoots Capital (EUR50bn in assets advised), specialised in infrastructure in the area of water, entitled Summit Water Absolute Return UI.The long/short equity product replicates an American fund from Summit in a UCITS-compliant format, with sustainable development and respect for environmental, social and governance (ESG) criteria. The fund is managed by John Dickerson.CharacteristicsName: Summit Water Absolute Return UIISIN code:DE000A1JZK84 (A shares, retail)DE000A1JZK92 (B shares, institutional)Front-end fee: Maximum 5% (A shares)Management commission:1.85% (A shares)1.25% (B shares)Performance commission: 10% of positive performance + 400 basis points (hurdle rate) with high watermark
06/12/2012

UK asset management resists the trends

British asset management is the exception in European management, Agefi Weekly reports today. “The United Kingdom is the only European country to have posted positive inflows in the past decade,” says Ed Moisson, head of research at Lipper for the United Kingdom and cross-border markets, who has noted “a genuine dynamic for cross-border managers.” The movement was particularly beneficial for M&G (EUR2.674bn), whose net inflows in third quarter totalled EUR6.4bn. In the UK market, where the ten largest funds represent over 51% of sales, according to the Investment Management Association, mid-sized players are facing the most difficulties, “as they are more vulnerable to market declines.” Asset managers, whose business model is largely based on commissions to intermediaries, are also in danger, the weekly newspaper suggests. The industry is also preparing to face a genuine revolution in financial services distribution in the domstic market on 1 January. The Retail Distribution Review (RDR), first announced in 2006, will end commissions to financial advisers, who will now need to negotiate their added value directly with end clients.
06/12/2012

Fitch confirms rating for Schroders

Fitch Ratings has affirmed Schroder Investment Management’s ‘M1' Asset Manager rating. The rating covers the company’s London-based investment activities with the exception of the alternative asset management business. The rating affirmation reflects Schroders’ strength and overall stability during 2012, according to the agency. The main challenges facing Schroders are to accelerate growth in certain regions (Asia and US) and client segments (Sovereign Wealth Funds and private saving pools), expand its absolute return and income-oriented investment capabilities and adapt to regulatory changes. The forthcoming overhaul of the Front Office technological platform is a major project to support the longer term evolution of the business, including the increased use of derivatives.
06/12/2012

Change of managers at Threadneedle

David Dudding will be stepping down from the management of the Threadneedle European Smaller Companies fund next year, to manage the Threadneedle (Lux) Global Focus, succeeding Neil Robinson, Citywire Global reports. He will be replaced on the European small caps fund by Mark Heslop on 1 January, but will retain control of the Threadneedle European Select.
06/12/2012

Socially responsible investment: Crédit Agricole deploys its sectoral policies

After laying out its principles on weapons, Crédit Agricole will soon publish its policy for the energy sector, Stanislas Pottier, head of sustainable development at Crédit Agricole, announced on 4 December, at a round table held by Novethic as part of its annual conference. This is an enormous challenge, as it involves deploying this sector policy for all positions of the group, starting with the investment bank, and extending to advising activities. The next two industries on which Crédit Agricole is already at work are metals and transport. Pottier also says that Crédit Agricole will in early January publish the first edition of the social performance index from the Crédit Agricole group, the FreD index, which will have an impact on variable pay scales for managers throughout the group. This is a good way for the issue of SRI to attract “regular attention” in the group, says Pottier.
06/12/2012

Edram's ex boss to launch a consulting firm

According to reports received by Newsmanagers, Philippe Couvrecelle is preparing to launch a consulting firm with a former employee of Edram, the asset management firm of the Compagnie Financière Edmond de Rothschild which he led for five years. Couvrecelle, who left Edram in August this year, would now like to put the experience he acquired in the collective management world to use. Via his firm, which will be known as PTH Conseil, the head will serve not only French businesses with reflections on the transformation of their asset management activities, development, and future, but also foreign asset management firms seeking to gain a foothold in Europe. Couvrecelle, who has worked for major groups and family-owned businesses, has also opened international offices and has good knowledge of the challenges to come. He is entering a market in crisis in which questions of strategy are increasingly present. According to information obtained by Newsmanagers, the professional is also planning to serve US and Asian investment firms which are aiming to establish a presence in Europe, such as GCS, which has recently entered exclusive negotiations with the Dexia group to take over Dexia AM. In light of the currently attractive valuations, investment funds are also a target for PTH Conseil. Lastly, Couvrecelle is also expected to approach firms whose objective is to profit from savings reserves in emerging markets and capital managed by pension funds, such as Chilean funds.
06/12/2012

KPMG renforce son pôle fonds alternatifs

KPMG, the U.S. audit, tax and advisory firm, is adding several new hires to its Alternative Investment Funds (AIF) practice’s national team, in Los Angeles and San Francisco. The new hires include: Martin A. Griffiths, K. Peter Ritter, and Graeme M. Fletcher as principals. Martin A. Griffiths has joined the Los Angeles office as a principal in the Federal Tax practice. He will be KPMG’s West Coast real estate tax practice lead. Before joining KPMG, he was senior vice president at Irvine Company, overseeing its income and property tax group.K. Peter Ritter has joined KPMG as a principal in KPMG LLP’s San Francisco Federal Tax practice. He came to KPMG from the law firm O’Melveny & Myers LLP where he was a tax partner resident in its San Francisco office.Graeme M. Fletcher is a principal in International Corporate Services, who transferred from KPMG’s Atlanta office to San Francisco. In addition, Daniel Prager has joined KPMG as a managing director in its Federal Tax AIF practice. Based in Los Angeles, he most recently served as head of Corporate Finance for Telefónica Czech Republic. Richard Hinton has joined KPMG’s San Francisco AIF practice, as a Seconded Partner with a focus on the hedge fund industry. He established and led the team responsible for rolling out KPMG’s FATCA proposition to clients in the United Kingdom.
06/12/2012

Oppenheimer Funds acquires Steelpath

The acquisition of SteelPath Capital Management and SteelPath Fund Advisors (USD3.3bn in assets as of the end of November) has been completed by Oppenheimer Funds. Steelpath will become known as OFI Steelpath. The acquisition price has not been disclosed.OppenheimerFunds Distributor, Inc will become the distributor and primary subscriber to each series from The SteelPath MLP Funds Trust.Steelpath is an asset management firm specialised in investment in infrastructure related to energies, focused on Master Limited Partnerships (MLP). It offers a range of mutual funds as well as dedicated funds focused on MLPs.
06/12/2012

Special dividend at Eaton Vance

On 4 December, the board at Eaton Vance Corp announced that it is paying out a quarterly dividend of USD0.20 per share on 20 December to shareholders registered as of 17 December. It has also decided to pay a special dividend of USD1 per share, payable on 20 December to shareholders registered on 14 December. As of 31 October, assets at Eaton Vance totalled USD199.5bn.
06/12/2012

Henderson once more hires from Cushman & Wakefield

After Kathrin Andres two months ago (see Newsmanagers of 4 October), Henderson Global Investors has again recruited a specialist from Cushman & Wakefield for the real estate team at its Frankfurt office. This time, it is James Ellis, who becomes assistant portfolio manager. He will be responsible for providing performance measurement and analysis elements for the AUB Oportunity III and Henderson German Logistics funds.

Sujets d'actualité

Tous les sujets