Edmond de Rothschild Asset Management has recruited Pascal Luccini as head of its newly-created team for reporting and clients. In addition to the director, the team includes six people. The French asset management firm is hoping to strengthen “its ability to assist and the quality of its service to French and international institutional clients.”Luccini joins from Allianz Global Investors, a firm which he joined in 1996, where he became head of client services in 2002.

According to information obtained by Newsmanagers, Michel Bernard is leaving F&C. Bernard, who is based in London, was head of F&C for France, and was responsible for institutional investor clients of the UK asset management firm in particular. He took up the position following the departure of Aurélien Lafaye in late 2010, and was also in charge of other markets, including the Scandinavian countries. When asked about the departure, a spokesperson for F&C states that institutional activities in France “and in other markets where F&C does not have a local presence” are overseen by Julian Lyne, global head of consultants, and his 13-member team. One person dedicated to the French market will be appointed «in due course», the spokesman adds.

Guillaume de Corbiac, manager of the AXA WF Framlington Emerging Markets Talents fund, has left the asset management firm. His fund has been taken over by Charles Firmin-Didot, founder and CIO of the Talents funds, a spokesperson for Axa Investment Managers has told Newsmangers.De Corbiac joined the Talents team, which is dedicated to the search for entrepreneurs, in March 2004, following two years of professional experience in France and Singapore. He had been manager of the AXA WF Framlington Emerging Markets Talents fund since early 2009, following a period in which he was a back-up manager for the fund, from its creation in September 2005 to late 2008.

From November, Investment Week reports, Simon Smith will become head of wholesale at Old Mutual Asset Managers (OMAM), after twelve years at Standard Live Investments (SLI), most recently as head of UK (wholesale) financial institutions. Money Marketing also reports that Old Mutual Wealth Management is currently seeking a new CEO, now that Bob Head will be leaving the group in October, after spending 18 months overseeing the integration of Skandia UK, Skandia International, Skandia Investment Group, and Skandia Continental Europe.

The UK Sustainable Investment Forum (UKSIF) on 2 September published its third report on the treatment of sustainable development issued by British pension funds, entitled “Responsible Business: Sustainable Pension 2011.” Two years after the publication of the last report, the current study finds that pension funds are continuing to deepen their practices in sustainable development. Not only interest in sustainable development, but also participation by pension funds cpvered by the study in sustainable development has increased to one in five, from one in eight two years ago. Sustainable investment now applies to a wider range of asset classes. Private equity, bonds and real estate have increased their use of sustainable development policies compared with 2009. Nearly one third of funds use specialised mandates to deploy their sustainable investment policies. This percentage has doubled since 2009, the report points out. These examples of improvement, which come in a wider context of improved frameworks for sustainable investment practices, and the publication of the Stewardship Code, are all positive signs which should not obscure the fact that the majority of pension funds still need to make the first move to set up sustainable investment practices that may effectively respond to the challenges presented by ESG issues. The report lays out a series of recommendations which it qualifies as urgent, including the governance of sustainable development, which would require the major funds to have at least one expert on sustainable development questions, transparency for the strategies put into use, signing the United Nations Principles for Responsible Investment, and integrating sustainable investment into negotiations on risk transfers. Meanwhile, three funds have already achieved excellence: the BT Pension Scheme, the Co-operative Pension Scheme (PACE), and F&C Asset Management Ltd. Pension Plan. Only one fund reached this level in the previous two editions of the study.

The British firm Barclays Wealth has recruited a former manager from Goldman Sachs, Kevin Shone, who will join the team dedicated to UHNW clients, Wealthbriefing reports. Shone will join the team as managing director in November. Since 2008, he had worked as managing director at Goldman Sachs Private Wealth Management.

Assets under management at Hargreaves Lansdown rose 41% in the year to 30 June, to total GBP24.6bn, the firm has announced in a statement.This development is the result of an increase in net inflows to GBP3.5bn, compared with GBP3.3bn the previous year, and to positive market effects of GBP3.6bn.The asset management firm has seen a 46% in its pre-tax profits, to GBP126m.

Ignis Asset Management is planning to launch a credit version of its absolute return fund, an emerging market debt fund, and a global equity fund and an emerging market equity fund with a growth strategy, Investment Week reports. The launches come as additions to the range of house funds from the asset management firm.

According to a study by Vanguard based on statistics from Morningstar covering the past 20 years, two thirds of actively-managed bond funds in the United States have underperformed the bond markets, the Wall Street Journal reports. 20 years ago, according to the Investment Company Institute, a bond fund cost an average of USD100 for every USD10,000 invested, and that amount would have generated an average annual revenue of USD825, if it were invested in 10-year US Treasury bonds, and USD1,050 if it were invested in corporate bonds rated Baa by Moody’s. In 2010, the average commission charged by bond funds was USD70 for every USD10,000 invested. But the same amount invested in 10-year US Treasury bonds or Baa-rated corporate bonds would now generate only USD330 and USD540 in annual revenue, respectively. However, the Wall Street Journal observes, investors can find better deals by subscribing to bond ETFs. Investors who subscribe to products such as the Vanguard Total Bond Market ETF, the iShares Barlays Aggregate Bond Fund or the SPDR Barclays Capital Aggregate Bond ETF will pay only USD11 to USD22 per year for every USD10,000 invested.

Dans un entretien publié samedi dans Le Monde, le délégué général pour l’armement, Laurent Collet-Billon, prône des rapprochements entre industriels français de la défense pour mieux affronter la concurrence et répondre aux besoins d’investissement. Il cite les activités d’optronique et de systèmes de navigation de Thales et Safran, dont la «rationalisation» doit selon lui se faire.

Selon un document circulant à Bruxelles et consulté par Reuters, la Commission européenne prévoit des «améliorations ambitieuses» à sa directive concernant les marchés d’instruments financiers (MiFID). Bruxelles propose d’abattre les barrières qui empêchent les banques et les investisseurs de pouvoir décider vers quelles structures se tourner pour jouer le rôle de chambres de compensation.

Selon le Sonntagszeitung, Washington a fixé un ultimatum à la Suisse pour qu’elle lui communique des informations sur tous les clients américains ayant disposé de comptes d’au moins 50.000 dollars entre 2002 et 2010 chez Credit Suisse, Julius Baer et Wegelin ainsi que dans des banques cantonales à Zurich et Bâle.

Selon les chiffres publiés vendredi par l’agence des statistiques IBGE, la croissance économique brésilienne a ralenti au deuxième trimestre, à 3,1% l’an contre un rythme de 4,2% au premier trimestre, en raison d’une moindre performance des secteurs agricole et industriel.

Une dégradation de la note souveraine de la France coûterait cinq milliards d’euros par an à l’Etat, a déclaré samedi la ministre du Budget Valérie Pécresse. «5 milliards d’euros par an, c’est le budget du ministère de la Justice (...) Donc je crois vraiment qu’il faut qu’on fasse attention», a-t-elle ajouté.

Le Fonds monétaire international a annoncé vendredi avoir approuvé un débours de 2,11 milliards de dollars (1,5 milliard d’euros) dans le cadre du plan d’aide à l’Irlande. Selon le FMI, le gouvernement irlandais a poursuivi une «mise en œuvre résolue» de son programme d’austérité.

Selon la Banque de France, les crédits aux entreprises (mobilisés et mobilisables) ont enregistré une hausse de 4,7% en glissement annuel en juillet, après un gain de 4,9% fin juin. Les crédits aux PME (+ 5,9 %) et l’immobilier (+ 8 %) signent les plus fortes progressions.

Les volumes notionnels nets traités sur le CDS de la France ont plus que doublé en un an et dépassaient à fin août ceux de l’Italie, à 25,7 milliards de dollars. Le CDS français est le plus élevé des émetteurs souverains AAA.

Le géant américain a demandé l’autorisation aux autorités de régulation de mettre sur pied une nouvelle filiale, Spruce ETF Trust, ayant pour mission la gestion active de treize fonds indiciels cotés (ETF) dont les participations ne seraient révélées que sur une base trimestrielle.

Les gestions se sont allégées de cinq points à 44 % sur cette classe d’actifs, qui retombe sur ses niveaux d’octobre 2010

S&P estime qu'une obligation commune aux pays de la zone euro obtiendrait la note du pays le moins bien noté, si l'émission était garantie par tous

L’opérateur boursier veut prendre le contrôle de LCH.Clearnet pour rivaliser avec Deutsche Börse et profiter de la croissance de la compensation des dérivés.

Interrogées par PricewaterhouseCoopers, celles-ci visent une croissance de 60% de leurs actifs sous gestion d’ici 2014

Directeurs du Trésor des Vingt-Sept et banquiers centraux se réunissent aujourd’hui à Bruxelles pour concrétiser les décisions prises le 21 juillet. Une solution devrait être trouvée pour éviter de privilégier la Finlande dans le cadre du deuxième plan d’aide à Athènes.

Les directeurs du Trésor européens se réunissent aujourd'hui à Bruxelles pour traduire dans les faits les décisions du Conseil du 21 juillet

L’indice pourrait consolider quelques semaines de plus la baisse de cet été avant d’achever la correction baissière engagée en février

Les gestions ont révisé en moyenne de 13 % leurs prévisions à six mois sur le CAC 40

La prévision médiane à 3 et 6 mois pour le taux refi en zone euro ressort à 1,50 %. Seul Cholet Dupont anticipe une baisse de 25 pb

La fin d'un cycle de dix mois de créations de postes alimente le risque d'une récession aux Etats-Unis. La Fed pourrait intervenir

Jean-Claude Trichet exhorte Rome à tenir les engagements budgétaires pris en août. Le pays doit encore lever 68 milliards d'euros en 2011

Leur exposition devient neutre sur la classe d'actifs. Mais les gestionnaires disposent de liquidités importantes à investir