Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
18/06/2010

Santander launches a UCITS-compliant absolute return fund

Santander Asset Management, via Allfunds Alternative, the fund of hedge fund advisory affiliate of Allfunds Bank, is launching the Santander Absolute Strategies UCITS, an absolute return fund which complies with the UCITS III directive. The product will invest in 20 hedge funds domiciled in Luxembourg, but will also be registered in Spain, in order to be distributed to clients of the private bank, Expansión reports. Assets at the Luxembourg affiliate now total EUR1.3bn, compared with EUR600m in early 2009. In addition to the Absolute Strategies UCITS, the asset management firm has applied for a sales license for five other products.
18/06/2010

Pictet releases Corto Europe in Spain

Pictet Funds has released its UCITS-compliant long/short hedge fund Corto Europe on the Spanish market, Expansión reports. Management commission is 1.6% for retail investors, and 1.1% for institutional investors, in addition to which there is a performance commission of 20% (see Newsmanagers of 4 April and 1 June).
18/06/2010

HSBC releases two new funds in Italy

HSBC Global Asset Management has released two new funds from its UCITS III Absolute Return range in Italy: the HSBC GIF European Equity Alpha and HSBC GIF Global Emerging Markets Equity Alpha, Bluerating reports. Pictet Funds has also launched the Pictet High Dividend Selection fund in Italy.
18/06/2010

Superfund closes six offices

The Austrian management firm Superfund has closed six offices worldwide (Dubai, Liechtenstein, Saõ Paolo, Singapore, Sydney, and Monaco), due to financial difficulties, the Italian website Bluerating reports, citing reports in the international press. The hedge fund firm, which manages USD1.24bn in assets, retains only three offices, in Vienna, Hong Kong and New York. The cost reductions are related to troubles at the firm, as its Superfund Q-AG lost 24% in 2009, and has lost 6.9% in the past five months, Bluerating states.
18/06/2010

Mandarine hits EUR1.2bn in AUM

At his first meeting with clients since the firm was launched nearly two years ago, Marc Renaud painted a concise and clear picture of the activities of Mandarine Gestion, which now has EUR1.2bn in assets vs EUR1,04bn on March, 19. The firm has seen inflows of over EUR420m, and is set to continue on this path this year. Mandarine Gestion, which was profitable in 2009 and continues to be so in 2010, has 17 employees, and offers 6 funds or areas of expertise. 80% of assets come from within France, while slightly under 10% come from Germany, and slightly over 10% from Switzerland. Clients are 50% composed of institutional and 50% retail investors. Multi-management represents about 20%-25% of assets, while the remainder is divided between IFAs, “a stable client base with daily inflows,” and private banking in Paris and Geneva.
18/06/2010

Large inflows to Putnam absolute return funds

Putnam Investments has announced that its four absolute return funds, launched in December 2009, have recently topped USD2bn in assets, of which USD1bn have come in the past six months. A survey of independent financial advisers has also found that most of them are expecting unprecedented inflows to their absolute return products in the next 12 months.
18/06/2010

CalPERS building up stockpile of candidates for board positions

The pension fund CalPERS (USD200bn) is in the process of recruiting a number of directors, in order to have them on hand when it needs to nominate candidates for positions on the boards of directors at companies in which the fund is invested when they are reporting poor results, the Wall Street Journal reports. The 3D (Diverse Director Database) is being created ahead of changes soon to come to the rules governing the composition of boards of directors. The new rules will give CalPERS and other investors more influence over the composition of these boards. Anne Simpson, head of corporate governance, says that to be included in the new CalPERS database, in addition to a position as a major point of reference in management, finance and sectoral expertise, candidates should also belong to groups which have been historically underrepresented on boards, such as women and minorities.
18/06/2010

Exane and BNP Paribas seek to deepen alliance

Les Echos reports that a move to closer ties between Exane and BNP Paribas in research, cash equities and derivatives is under study. Exane would recruit 50 professionals in London, while the bank would scale up its coverage of the British market from London.
18/06/2010

Former Threadneedle head joins MainFirst

Volker Plate, who was replaced by Werner Kollitsch at Threadneedle Germany (see Newsmanagers of 2 March) has joined MainFirst Asset Management as head of wholesale business for Germany, Switzerland, Luxembourg and Italy. Robert Focken, who in 2009 moved from the equity sales sector to asset management sales, has joined the wholesale team as director of sales for Germany, Austria and France.
18/06/2010

Sarasin makes several appointments in Asia

Sarasin Alpen (India) Private Limited, an affiliate of the Swiss private bank Sarasin & Cie SA, has appionted Shiv Khanzanchi as director of its Indian operations. Khazanchi will be based in locations other than the Sarasin Alpen head offices in New Delhi. In addition to his responsibilities as director of Sarasin Alpen for India, he will supervise the activities of Alpen Capital India Private Limited, the investment bank associates with Sarasin Alpen. The Sarasin group is present in the Middle East and India under the Sarasin Alpen name. Its Indian activities started up in July 2009, with the opening of offices in Mumbai and New Delhi. Sarasin Alpen (India) Private Limited operates as a non-banking financial institution; the firm offers financial advising and consulting services to Indian high net worth private clients and distributes a selected range of products from premier partners, especially investment funds. The bank has also appointed Damien Ng, previously of Credit Suisse, as head of investment advising for Asia. He will be based in Singapore.
18/06/2010

Collins Stewart acquires wealth management firm Anderson Charnley

Collins Stewart Wealth Management has announced its acquisition of Andersen Charnley (ACL), an independent wealth management firm which offers discretionary management and financial advising, with offices in London and Bagshot, Surrey. The operation will bring assets under management at Collins Stewart to GBP6.8bn, the management firm says in a statement, adding that it continues to pursue an ambition to achieve GBP10bn in assets under management by 2012.
18/06/2010

Fideuram IPO to be postponed

Intesa Sanpaolo is moving toward a postponement of the planned initial public offering for Banca Fideuram, Il Sole – 24 Ore reports. The bank would like to value its asset management affiliate at EUR3bn, as its stake in the business is valued on its books at EUR2.5bn. But this level appears too high, due to difficult conditions in the current market. If the IPO is postponed, Hellman & Friedman’s planned acquisition of a 15-20% stake in Fideuram would also have to be put off.
18/06/2010

Merrill Lynch recruits SocGen to recreate an SRI team

Responsible Investor reports that Merrill Lynch is planning to rebuild its research team dedicated to responsible investment, with the recruitment of two former co-heads of the sustainable development team at Société Générale. Valéry Lucas-Leclin and Sarbjit Nahal, both ESG analysts, who were co-heads of the SRI research team at Société Générale, will join Merrill Lynch in September. The two former Société Générale managers would continue to be based in Paris.
18/06/2010

Spanish asset management industry needs a serious overhaul, says AFI

Analistas Financieros Internacionales (AFI), which has been tasked by the Inverco association of management firms with studying the causes of a steep drop in assets under management, has found that Spanish funds are comparatively defensive, to the extent that the hemorrhage at the onset of the crisis was less due to the falling equities markets than it was to the “war for deposits,” as banks sought to attract savings investors to the detriment of investment funds, Cinco Días reports. From mid-2009 until February 2010 (when the study was carried out) however, net outflows were not related to this competition so much as they were to the fact that savings investors were seeking to offset both rising debts and reductions in their income. Emilio Ontiveros, president of AFI, says the asset management industry will need to restructure, since it is currently burdened with excess capacity, with 122 actors in the market, of which 39 saw losses in 2009.
18/06/2010

Ratings agencies under pressure in US

Les Echos reports that a US financial regulation bill would allow investors to sue ratings agencies if their valuations of certain financial instruments are “terribly negligent.” US legislators also support the idea of creating a new supervisory authority to manage the conflicts of interest inherent in the ratings industry, which is ultimately financed by the same businesses it is meant to rate.
18/06/2010

Offshore funds continue to sign on with British association

The British investment management association (IMA) has received a further 130 applications for membership from offshore funds seeking to be included in carious sections of the association’s registers. In a first wave of registrations, the professional association has already signed up 117 offshore funds, while 36 more funds are waiting for their data to be finalised. Offshore funds will have another opportunity to sign up in autumn, and by the end of the year, several hundred of them may have done so.
18/06/2010

Threadneedle announces US equities Newcits fund

Threadneedle on Thursday announced the launch of a UCITS III-compliant hedge fund, the Threadneedle (Lux) American Absolute Alpha Fund, which comes as an addition to a range of absolute return products with assets of USD3bn. The fund, whose forthcoming launch has previously been reported by Newsmanagers (see articles of 15 and 16 March), is managed by Stephen Moore, the main manager of the American Crescendo Fund, a long/short equity product specialised in North American equities. Since its launch in 2007, he has managed the first UCITS-compliant 130/30 fund from Threadneedle, the American Extended Alpha Fund (see Newsmanagers of 19 October 2009).
18/06/2010

CalPERS se prépare une réserve de futurs administrateurs

Le fonds de pension CalPERS (200 milliards de dollars) est en train de recruter un grand nombre de dirigeants pour les avoir sous la main lorsqu’il s’agira de désigner des candidats pour des postes d’administrateurs dans des sociétés qui n’ont pas de bons résultats et dans lesquelles il a investi, rapporte The Wall Street Journal.L’opération 3D (Diverse Director Database) est liée au changement à venir des règles sur la composition des conseils d’administrations, la nouvelle version donnant à CalPERS et aux autres investisseurs davantage d’influence sur ces conseils.CalPERS constitue actuellement une base de données et Anne Simpson, head of corporate governance, souligne qu’en plus d’avoir de sérieuses références en matière de management, de finance et de connaissances sectorielles, les candidats devront aussi émaner de catégories historiquement sous-représentées comme les femmes et les minorités.
18/06/2010
Fonds

Forte collecte des fonds de performance absolue de Putnam

Putnam Investments a indiqué que ses fonds de rendement absolu, au nombre de quatre et lancés en décembre 2009, ont récemment passé la barre des 2 milliards de dollars, dont 1 milliard au cours des six derniers mois. Un sondage réalisé auprès des conseillers financiers indépendants indique par ailleurs que la majorité d’entre eux s’attend à un recours inégalé aux fonds de performance absolue au cours des douze prochains mois.
Fonds
18/06/2010

Merrill Lynch recrute à la SocGen pour recréer une équipe ISR

Selon Responsable Investor, Merrill Lynch envisage de reconstituer son équipe de recherche dédiée à l’investissement responsable avec le recrutement de deux anciens co-responsables de l'équipe développement durable au sein de la Société Générale. Valéry Lucas-Leclin et Sarbjit Nahal, deux analystes ESG qui codirigeaient l'équipe de recherche ISR à la Société Générale, devraient ainsi rejoindre Merrill Lynch en septembre prochain. Les deux anciens de la banque française pourraient rester basés à Paris.
18/06/2010

Opération transparence des bilans bancaires pour calmer les marchés

Les résultats des stress tests actuellement en cours de réalisation par les superviseurs bancaires seront publiés au plus tard dans la seconde moitié de juillet rapporte l’Agefi qui reprend l’annonce hier les Vingt-Sept à l’issue du Conseil européen. Les tensions sur la dette espagnole auront finalement eu raison des réticences des gouvernements à faire la lumière sur la situation de leurs banques, note le quotidien. Les Vingt-Sept sont également convenus de porter au G20 de Toronto les deux projets de taxe bancaire et de taxe sur les transactions financières. La première est d’ores et déjà sur le métier avec les fonds de résolution que la Commission propose de mettre en place de façon harmonisée. La seconde est moins consensuelle.
18/06/2010
Fonds

Partners Group boucle son programme "European Mezzanine"

Le suisse Partners Group (25 milliards de francs d’encours) a annoncé jeudi avoir bouclé le 16 juin son programme «European Mezzanine» à 553 millions d’euros, soit au-dessus de 500 millions visés. C’est le plus gros programme dédié aux investissements directs en obligations non cotées (private debt) du gestionnaire de fortune helvétique. Les souscripteurs sont des caisses de retraite publiques et privées, des assureurs, des établissements financiers, des fondations et des particuliers haut de gamme du monde entier.
Fonds
18/06/2010

Axa s'intéresse à Ethias en belgique

Selon la Tribune, la filiale belge d’Axa étudie deux possibilités d’acquisitions en assurance-vie. Dans un entretien à l’Echo, Emmanuel de Talhouët, le patron d’Axa Belgique a confirmé l’intérêt que son entreprise porte à la clientèle de First, la filiale du groupe d’assurance Ethias.
18/06/2010

La variété rend la sélection de fonds déterminante

Le graphique ci-contre compare les densités de probabilité des surperformances des fonds actions européennes sur deux sous-périodes récentes: août 2009 – décembre 2009 et janvier 2010 – mai 2010. Ces deux sous-périodes correspondent à des conditions de marché très différentes puisque la performance moyenne des fonds était respectivement de 9,2% et de -4,1% sur les deux périodes considérées.
18/06/2010

Des performances difficiles à protéger

Les tableaux ci-contre présentent les meilleures et plus mauvaises performances des fonds sur le marché des fonds actions américaines et celui des fonds actions françaises au cours du mois de mai 2010. Ces performances sont mises en perspective par le calcul de la volatilité et du ratio de Sharpe sur trois ans d’historique ainsi que du rendement depuis un an.
17/06/2010

Euronext lists an HSBC ETF

On Wednesday, NYSE Euronext announced that it has admitted the HSBC MSCI JAPAN ETF, from HSBC ETFs, to trading. The Irish-registered product (IE00B5VX7566) charges 0.40% fees, and replicates the MSCI Japan index. The addition brings the number of ETFs listed on the specialised segment of NYSE Euronext to 486, as the new fund becomes the 37th ETF to be added to the listings since the beginning of this year.
17/06/2010

East Capital concludes acquisition of AGI

The Swedish asset management firm East Capital, a specialist in Eastern Europe markets, has concluded its acquisition of Asia Growth Investors, after being granted permission by the Swedish financial market authority. It now controls 100% of the management firm, which is also based in Stockholm, and which is focused on China. The acquisition will allow East Capital to extend its investment horizons, while remaining focused on emerging markets, and to add the EUR240m managed by AGI to its own EUR2.4bn in assets. As a part of the operation, Karine Hirn, a partner at East Capital, will move to Shanghai. She will aim to study the Chinese market, and eventually to strengthen AGI’s management teams. East Capital has also announced the appointment of Johan Björkstén as an advisor and member of the board of directors at AGI. Björkstén is the founder of Eastwei Relations, one of the largest communications agencies in China, which has more than 100 employees in four Chinese cities, and a client base composed of multinationals such as IKEA and Sony.
17/06/2010
Fonds

Burren Capital lève 500 millions de dollars

Burren Capital, la société de hegde funds créée par l’ancien trader de BNP Paribas Andrew McGrath, a levé plus de 500 millions de dollars pour son premier fonds, rapporte le Financial Times. Le fonds, spécialisé dans la stratégie «event driven», sera géré depuis Gibraltar.
Fonds

Sujets d'actualité

Tous les sujets