UFG-LFP a annoncé lundi 21 juin une prise de participation de 15% dans la société de conseil LEGIGA, créée autour de Jean-Pierre Gaillard, Patrick Leguil et Jean-François Gilles. Simultanément, ces derniers ont transformé un portefeuille modèle animé pendant 13 ans sur le plateau d’une chaîne nationale d’information (LCI) en un fonds commun de placement bien réel « FCP Mon PEA » conseillé par LEGIGA et géré par LFP, précise le communiqué de la société de gestion.Investi en actions européennes, éligible au PEA, le fonds a pour objectif de surperformer l’indice CAC 40 sur le long terme par la sélection des valeurs les mieux à même de générer du rendement. L’objectif du fonds est également éducatif, le produit se voulant doté d’un fonctionnement simple et claire, transparent sur la composition du portefeuille, privilégiant un investissement de long terme,etc. A noter qu’un site internet est dédié au fonds : www.fcpmonpea.com qui sera opérationnel dès la mi septembre. Caractéristiques Code ISIN FR0010878124 Eligibilité du fonds au PEA /assurance-vie : Oui/oui

Le courtier vie-épargne Arca Patrimoine (groupe Premium) a annoncé lundi 21 juin a annoncé la nomination de Cyrille Minso au poste de secrétaire général d’Arca Patrimoine depuis le 1er juin 2010. Il aura notamment la responsabilité administrative de services transversaux et la gestion des relations avec les partenaires.Agé de 40 ans, Cyrille Minso qui a rejoint Arca Patrimoine en tant que mandataire de courtier en 2004, occupait le poste de directeur du développement commercial depuis 2007.

L’agence de notation financière Fitch a annoncé le 21 juin la révision à la baisse d’un cran de la note de la dette à long terme de la banque française BNP Paribas, de «AA» à «AA-".Fitch indique que cette décision est surtout motivée par des problèmes structurels liés au business mix de la banque: la contribution «relativement importante» prise par la BFI, la détérioration de la qualité des actifs en 2009 et des ratios de fonds propres légèrement en dessous de la moyenne de ses homologues.

Dans un avis financier paru dans Les Echos, DWS Investment S.A. indique que la direction de la société a décidé, avec effet au 30 juillet 2010, de fusionner le FCP DWS China avec la classe d’actions LC du compartiment DWS Invest Chinese Equities, conformément à l’article 15 du règlement de gestion – Partie Générale.Les porteurs de parts de DWS China peuvent procéder au rachat de leurs parts jusqu’au 23 juillet 2010 inclus; les ordres reçus avant l’heure limite de réception des ordres seront pris en compte. L'émission de nouvelles parts de DWS China prendra fin le 25 juin 2010. DWS China, fonds commun de placement, et DWS Invest Chinese Equities, compartiment d’une société d’investissement à capital variable, sont conformes à la Partie 1 de la loi luxembourgeoise du 20 décembre 2002. Les porteurs de DWS China qui auront conservé leurs parts deviendront actionnaires de la SICAV et pourront donc exercer leurs droits de vote lors de l’assemblée générale des actionnaires, qui se tient le quatrième mercredi du mois d’avril de chaque année. La fusion ne génère aucun frais pour l’investisseur. Les statuts de la SICAV, le prospectus de vente complet et le prospectus de vente simplifié peuvent être demandés gratuitement auprès de la société de gestion. Les porteurs de parts de DWS China en désaccord avec la fusion précitée peuvent procéder sans frais au rachat d’une partie ou de la totalité de leurs parts dans un délai d’un mois après cette publication auprès de la société de gestion et de tous les agents payeurs mentionnés dans le prospectus de vente, précise l’avis.

Le Grand Prix du Patrimoine Jeunes Diplômés, organisé depuis huit ans par L’Agefi Actifs, récompense les étudiants de 3ème cycle en Gestion de patrimoine issus des Grandes écoles et des Universités. 20 cursus ont concouru pour cette édition 2010, organisée en partenariat avec BNP Paribas Banque Privée, Cardif et la Compagnie des conseils et experts financiers (CCEF), responsables respectivement du jury de l’oral et du jury de l’écrit, les Editions Francis Lefebvre étant membre associé.Pour la partie orale du Grand Prix du Conseil, ont été désignés :-3ème Prix :Université de Caen Angélique PERROUX-2ème Prix Université de Caen Eric FRUCHARD-1er Prix Université de Grenoble Andy BUSSAGLIAPour le volet écrit du Grand Prix de l’Ingénierie, les étudiants lauréats sont :-3ème Prix : Master 2 – Gestion de patrimoine de l’université de Grenoble II- Julie BRAQUEHAIS- Andy BUSSAGLIA- Aymeric LEMONNIER- Camille LORGERON-2ème Prix : Master 2 – Ingénierie patrimoniale de l’université de Caen- Bertrand BREAVOINE- Eric FRUCHARD- Thibault GAMBLIN- Marie LEFORT- Angélique PERROUX -1er Prix : Mastère Gestion de patrimoine de l’ESCP Europe- Aurélia FABRE - Stéphanie de RAISMES - Joséphine des COURTIS - Aristide BLANC - Alexandre GILBERT

Amundi Canada vient d'établir officiellement son siège social à Montréal avenue McGill College, rapporte La Presse Affaires. Le bureau compte six employés, issus des équipes de la Société Générale et de Crédit Agricole Asset management. Amundi Canada gère déjà 1 milliard de dollars, strictement pour des clients institutionnels comme des régimes de retraite et les compagnies d’assurances. «On voudrait être à 3 milliards de dollars le plus vite possible», annonce le président d’Amundi Canada, Louis Fortin.

BNY Mellon a annoncé le 18 juin la signature d’un accord pour l’acquisition de la société de conseil indépendante en gestion de fortune I3 Wealth Advisors, basée à Toronto, dont les actifs conseillés s'élèvent à plus de 3,5 milliards de dollars canadiens.Il s’agit de la première acquisition réalisée par BNY Mellon sur le sol canadien. La transaction devrait être bouclée dans le courant du troisième trimestre 2010.

Shares in Jupiter Fund Management surged 15 per cent to 190½p on their first day of trading, says the Financial Times. The fund manager had sold its shares at a price of 165p, near the bottom of its range, but had covered its order book 2.5 times, people close to the listing said.

Axa Framlington’s biotechnology fund manager Andy Smith has left the firm, handing over his duties to Dr Deane Donnigan, says Citywire. It follows a shake-up in Axa Framlington’s healthcare equities team.

According to the “Global Pension Asset Study 2010,” a survey realised by Towers Watson of the 13 largest global pension markets (South Africa, Germany, Australia, Brazil, Canada, United States, France, Hong Kong, Ireland, Japan, Netherlands, United Kingdom and Switzerland), assets under management by pension funds as of the end of 2009 totalled USD23.290trn, which corresponds to a 15.1% increase compared with the end of 2008 (when they were down 21% compared with the end of 2007), although the total remains lower than at the end of 2007 (78%). As a proprotion of global GDP, assets total 70%, about the same as in 2003, compared with 76% ten years previously, though they are up from 58% at the end of 2008. The study may be accessed at the address http://www.towerswatson.com/assets/pdf/966/GPAS2010.pdf

The former star JP Morgan manager Ajay Gambhir will launch a UCITS III-compliant long/short equities fund, the RWC Europe Absolute Alpha Fund. Gambhir joined RWC in 2007 and has made his talent exclusively available to high net worth clients via a hedge fund dedicated to Europe, the Samsara. This is the first time that Gambhir has returned to retail management since his departure from JP Morgan. The fund will aim for annualised returns of at least 10% to 15%, and will charge an outperformance commission of 20% with high watermark. The vehicle will deploy the same investment ideas as the hedge fund, which since its launch in 2003, has earned annual returns of over 13.1%, compared with 3.7% for the MSCI Europe Equity index, with volatility of less than 8%, compared with 16% for the benchmark index.

This Tuesday, Intesa Sanpaolo will make a decision about the initial public offering of its financial advising network Banca Fideuram, Il Sole – 24 Ore reports. Recent leaks suggest that it is highly likely that the deal will be postponed until a later date yet to be defined. The problem is the price: Intesa Sanpaolo values its 100% stake in Fideuram on its books at EUR2.5bn, and would thus like to value the bank at EUR3bn. But this price, in current market conditions, is too high.

Threadneedle has signed a distribution agreement with the Italian Banca Sara, Bluerating reports. By the agreement, Banca Sara Private Financial Services will distribute 30 Threadneedle funds via its IFA network.

The chairman of the French financial market regulator, the Autorité des marchés financiers (AMF), Jean-Pierre Jouyet, on Monday, at a presentation of the authority’s 2009 annual report, announced its priorities for 2010-2011. “The most important, for me, is the rapid installation of a European market agency with real powers,” Jouyet said. In this regard, he was critical of several proposals by the European commission and council, which could prevent the future ESMA (European financial market authority) from fulfilling its missions. The initial objective of a larger integration and supervision and harmonised protection of savings investors would then be lost, and it is thus necessary to find a political compromise as soon as possible in this area. “I am rallying votes for a French-German agreement and will be the driving force behind it,” as “without powerful European authority, there will be no effective and consistent regulation, and without effective and consistent regulation, there will be no credible national regulation,” he said. Another priority area will be regulation of over-the-counter markets and revision of the MiFID directive. Jouyet says that it is necessary to “compensate, standardise and register.” To this end, the AMF would be inclined to collect data on OTC derivatives from May 2011, on a voluntary basis. In addition to localisation of post-market infrastructures in Europe and the Euro zone, Jouyet estimates that it is important to massively reorient trading flows towards organised markets, not only for derivatives, but also for equities and bonds. The third priority area is regulation of short positions. The AMF chairman says that it is necessary to have a European response in this area. “Imposing transparency measures and rigorous treatment of settlement and clearing suspensions appears to me to be immediately more effective,” Jouyet commented.

Huntington Asset Advisors has applied to the SEC for a license (via a 40-App form) to launch two actively-managed ETF funds They include the Global Rotating Strategy Fund, which will invest at least 80% of its assets directly or indirectly in common shares or index-based shares in a market segment, and which would be authorised to change segments (small caps, midcape, large caps and international equities), to optimise potential for capital gains as economic conditions evolve. Huntington AA has also applied for a license to launch the EcoLogical Strategy Fund, which would invest directly or indirectly in ordinary shares in US businesses of all cap sizes which satisfy one or more environmental criteria. The fund would also be permitted to invest a significant part of its assets in shares in foreign businesses.

In a 40-App form, BlackRock has applied to the SEC for permission to launch the iShares Active Fixed Income fund and the iShares Active Equity Fund, funds of ETFs which will be actively managed. The underlying ETFs will be at least 80% products advised by BlackRock Fund Advisors (BFA), which will also be the advisor to the new funds.

On 14 June, the CNMV announced that it has registered the Luxembourg Sicav Pictet Targeted Fund and the Corto Europe and Dragonfly funds, two sub-funds of the Sicav (see Newsmanagers of 18 June). The move follows the registration of the same products in France by the AMF on 12 May. The Dragonfly is a UCITS-compliant long/short fund similar to the Corto Europe (see Newsmanagers of 7 April and 1 June), based on the Greater China fund, and more directional than the European product. It will actively inform clients from this fall.

Evans Randall group has sold the commercial office property Condor House (12,221 square metres) for about EUR134.3m, to the open-ended real estate fund SEB ImmoPortfolio Target Return Fund, of Germany’s SEB Asset Management. The property becomes the 44th in the portfolio of the fund, a product aimed at institutional and high net worth retail investors, with assets in 12 countries.

Investment Week reports that the China fund managed by Anthony Bolton, the Fidelity China Special Situations, has issued 11 million new shares, primarily to assist trackers seeking to acquire shares in the vehicle after its admission to the FTSE 250 on 21 June. The high rate of tracker acquisitions led to a 5.3% boost for the price of shares in the fund compared with its net asset value.

Russell Investments has announced that it is planning to integrate 45 newly-launched shares into the Russell Global index at its annual review of the index. Among the 45 shares concerned will be six Chinese shares and six British shares, four German and four US businesses. The other shares come from Brazil, Mexico, Russia, South Africa and Sweden.

Amundi Canada has officially launched its offices in Montreal in conjunction with McGill College. The office has six employees drawn from the teams of Crédit Agricole Asset management. Amundi Canada has assets of USD1bn, strictly for institutional clients such as pension funds and insurers. “We hope for USD3bn in assets as soon as possible,” the president of Amundi Canada, Louis Fortin, says.

BNY Mellon on 18 June announced the signature of an agreement to acquire the independent financial advising firm I3 Wealth Advisors, based in Toronto, whose assets advised total over CAD3.5bn. It is the first acquisition by BNY Mellon in Canada. The transaction will be completed in third quarter 2010.

UFG-LFP on Monday, 21 June announced that it has acquired a 15% stake in the consulting firm Legiga, founded by Jean-Pierre Gaillard, Patrick Leguil and Jean-François Gilles. At the same time, the founders have transformed a model portfolio which they have maintained for 13 years on the basis of a national TV (LCI) into a real FCP fund, “FCP Mon PEA,” which is advised by LEGIGA and managed by LFP, a statement from the management firm says. The fund, which invests in European equities eligible for PEA plans, aims to outperform the CAC 40 index over the long term via stock-picking in order to optimally manage returns. The objective of the fund is also educational, and it aims to be simple and clear in its functioning, transparent in the composition of its portfolio, and prefers long-term investments. A website dedicated to the fund will be available at www.fcpmonpea.com by mid-September. Characeristics ISIN code: FR0010878124 Eligible for PEA/life insurance: Yes/yes

The Chicago Teachers’ Pension Fund (FPTF) has launched a request for proposals to manage a USD25m hedge fund, on the condition that the manager must be a woman and/or minority. Candidates will be examined by Mercer Investment Consulting.

The European asset management industry is expecting a new wave of international company M&A activity during the next 12 months. These were among the conclusions of a recent survey of European asset managers and administrators conducted by Kneip, a service provider to the asset management industry. According to the research, 90% of respondents believe that there will be an increase in international company M&A activity in the asset management industry over the coming year. The survey also found that 45% of respondents have firm cross-border expansion plans in place, while 42% are already considering international expansion into Europe, Asia and Latin America in response to an expected increase in investor interest from those regions. Kneip’s corporate actions data confirms this trend. While in the first two quarters of 2009 Kneip recorded five company mergers and acquisitions, during the same period in 2010 this figure has already increased almost four-fold to 19. Bob Kneip, chief executive officer of Kneip, commented: “The anticipated M&A activity can largely be attributed to growing demand for UCITS products around the world, which have become associated with excellence and strong supervision. It is the only truly globally distributed investment fund product, with demand from Asia now particularly strong». In addition to company M&A activity, the study found that the industry expects a certain degree of streamlining over the next year, with 65% expecting more international and 40% more domestic fund consolidations.

Edmond de Rothschild Asset Management on 21 June announced the recruitment of Guillaume de Lafarge as deputy director of risk. The board of risk management, composed of 4 members, is chaired by Flavien Duval, director of risk, and report to Philippe Couvrecelle, chairman of the board, a statement from the firm says. De Lafarge had been head of financial management at Bred since 2006, where he started in 2001 as a quantitative engineer in the market activities risk team.

The Spanish asset manager UBS Gestión on 10 June created the RFMI Multigestión fund, which was granted a sales license by the CNMV the next day. The fund is in the category of international diversified funds investing primarily in bonds, and may invest up to 20% of its assets in equities supports. The management objective is to outperform the Spanish consumer price index by at least 230 basis points, with volatility of less than 10% per year. The sub-managers retained for the product are Credit Suisse Gestión, Lombard Odier Darier Hensch Gestión (España) and BNP Paribas Asset Management Spain. UBS Gestión will impose a 10-day delay on redemptions of over EUR300,000. Characteristics Name: RFMI Multigestión FIMinimal initial subscription: EUR6Direct management commission: 0.4%Indirect management commission: 2.5%Front-end fee: 0.09% up to EUR50m, then gradually declining up to 0.04% from EUR200,000,001m

On 28 May, Popular Gestión launched the Eurovalor Garantizado Emergentes fund, a guaranteed fund which was registered on 18 J une by the CNMV, and which guaranteed subscribers its net asset value on 7 September 2010 at maturity, on 13 February 2014. Investors will also receive a share of the evolution of the S&P BRIC40 Price Return index, corresponding to the average fo 41 monthly observations (with a limit of 1.10% up and 2% down), meaning the maximum guaranteed return will be 11.42%, and minimal rate of 0%. Characteristics Name: Eurovalor Garantizado Emergentes FI Minimal initial subscription: EUR500 Management commission: 0.5% up to 6 September 2010; 2% after 6 September 2010 Front-end fee: 4% Withdrawal penalty: 4%, except on 04/09/2012, 05/03/2013, and 03/09/2013, when there will be no penalty

HSBC Private Bank France on Monday, 21 July announced the launch of a new equities fund, HPWM Option Patrimoine, base on the FCP Patrimoine, which invests in French equities, to which a variable coverage via an options strategy based on the DJ Erurostoxx 50 index was added in order to amortise heavy declines and volatility on the European equities markets. Characteristics A-class shares (all subscribers): FR0010879643I-class shares (legal entities): FR0010884759 Front-end fees: A/I class shares: 1.50% maximum Management fees: A-class shares: 2.25% I-class shares: 1.90% Benchmark: 60% SBF 250/40% Eonia Price of one share: A-class shares: EUR100 I-class shares: EUR10,000 Minimal subscription: A-class shares: 1 share I-Class shares: share Eligibility: PEA/ insurance

Du fait de performances relatives durablement insatisfaisantes, le FRR a résilié un mandat de gestion contracté avec Allianz Global Investors France et dont, par délégation, la gestion financière était assurée par une entité soeur, Nicholas Applegate Capital Management, également filiale du groupe Allianz Global Investors. Ce mandat portait sur la gestion d’un portefeuille d’actions petites capitalisations américaines. Son montant atteignait 172 millions € au 28 mai dernier. L’ensemble des opérations de résiliation a été mené à bien.