Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
16/11/2009

Neuberger Berman launches a bank loan fund

Neuberger Berman is preparing to launch the Floating Rate Income Fund, which will invest in senior guaranteed debt issued by banks. The product will be managed by Tim van Kirk. Neuberger is planning to offer the product for sale by December, Mutual Fund Wire reports.
16/11/2009

Madoff: Major French victim in legal challenge to HSBC

Léone-Noëlle Meyer, former president of Galeries Lafayette, who has one of the largest private fortunes in France, is to file a lawsuit against the bank HSBC, which proposed and sold her shares in Madoff funds, La Tribune reports, citing “La Journal du Dimanche.” Meyer is reported to have lost EUR7.5m invested in the Luxalpha Sicav fund.
16/11/2009

DWS Go platform: going, going, gone

DWS is discontinuing its certificate activities. At the end of September, it liquidated 30 certificates, and will not launch further products on its DWS Go platform unless there are commitments for the products from clients, Das Investment reports. The platform still includes 125 products, with assets of EUR500m, The two architects of DWS Go have left the firm (though one of them, Matthias Liermann, has joined the X-Markets team at Deutsche Bank), and the head of sales for DWS Go, Eckhard Hülsmann, is rumoured to have lost his job, according to Financial Times Deutschland.
16/11/2009

Hedge funds made more than 100% during equities' "lost decade"

Between 30 September 1999 and 2009, the MSCI World index has lost 7.54%, while in the same period, hedge funds earned average performance of 113%, according to CSFB/Tremont, Cinco Días reports. The MSCI World index does not take into account dividends paid by businesses. However, the S&P 500 index lost 17.59% in the period under review, not including dividends, and 1.53%, taking those dividends into account. Although hedge funds did not avoid losses in the most recent crisis, they lost only 19.07% in 2008, according to CSFB/Tremont, compared with 42% for the MSCI World index and 38.49% for the S&P 500. Average returns over ten years of 113% indicate stupefying returns over this period, as does a figure of 13,247% for the UBAM Dynamic US Dollar. Three funds focused on Russia made returns of over 800% during this period.
16/11/2009

Hedge funds show losses in October

Confirming a trend observed by other hedge fund indices, the Lyxor Global Hedge Fund Index also shows losses for October, totalling 0.96%. However, as of 10 November, the investible index continued to show gains of 5.38% since the beginning of the year. The two areas with the worst returns last month were emerging markets (-3.02%) and long term CTAs (-2.77%), while credit arbitrage showed returns of 4.54%, its best results since the beginning of the year (+48.33%). Equity short bias, for its part, shows the heaviest losses, at 27.43%.
16/11/2009

Barclays Capital continues to strengthen presence in Asia

After several recruitments last summer, Barclays Capital has recruited Kevin Ho, previously at UBS (where he was head of futures in Hong Kong), as head of futures activities for Asia-Pacific, Asian Investor reports. BarCap has also added to its futures product management team with the recruitment of Seng Mow Leong. Rod Banus, the former head of futures in Hong Kong, becomes head of futures products, and will continue to develop the Asia product range, in which role he will report to Ho.
16/11/2009

Advent in takeover bid for Matalan

Richard Baker, the former head of Boots, will this week launch a GBP1.5bn takeover bid for Matalan, with the private equity investor Advent International, at which he has been appointed operating partner. Matalan is the owner of the discount retail business Poundland, the Sunday Times reports. Matalan, which has been put up for sale by its founder and owner, John Hargreaves, is expected to attract rival bids from TPG, Blackstone, and CVC.
16/11/2009

Natixis Global Associates appoints a head of retirement strategies

Matt Raynor, director of global sales at Natixis Global Associates, is changing positions within the group, He will now be head of the retirement strategies unit. His former responsibilities will now be filled by his former colleagues Ed Farrington, Dan Santanello, and Josh Bogen. They will report to David Guinta, president and CEO of Natixis Global Associates.
16/11/2009

Madoff: two programmers arrested

La Tribune reports that two computer programmers, Jerome O’Hara and George Perez, both of whom had been employed by Madoff, were arrested by the FBI on Friday. They are accused of complicity in the Madoff fraud and of fabricating false documents and false trading registers, and of providing IT support for the production of these fraudulent documents, the newspaper states.
16/11/2009

Madoff's personal belongings fetch top dollar at auction

An auction at the Sheraton hotel in New York by the auction house Gaston & Sheehan, of Pflugerville, Texas, of 200 personal belongings of Bernard Madoff and his wife, Ruth, raised nearly USD1m on Saturday, the Frankfurter Allgemeine Zeitung reports. Among the items which fetched the highest prices were a pair of diamond pendant earrings, which were sold for USD70,000 each, though their value was estimated at between USD9,800 and USD21,400. A “prisoner Rolex” made for allied air force pilots imprisoned in Germany during World War II went for USD65,000, while a blue satin New York Mets jacket with the name “Madoff” on the back found a buyer at USD14,500, though its catalogue price was a maximum of USD720.
16/11/2009

United States: Pay Czar hopes to avoid brain drain

Les Echos reports that the controller of remuneration in the United States, Kenneth Feinberg, has expressed a desire to “take into account” the growing risk of a brain drain as talent leaves the United States. After calling for an average reduction of 50% to the pay scales of the 25 top directors of 7 major firms which received federal aid money, the “Pay Czar,” who will announce his decision about pay scales for 75 top directors at 8 firms within his jurisdiction by the end of the year, may not impose overly severe restrictions on the businesses in light of the brain drain risk he describes.
16/11/2009

Serious Fraud Office opens investigation of Gilher

On Friday, the Serious Fraud Office (SFO) announced that with the assistance of the Surrey police force, it has undertaken a search of the business premises of Gilher Inc. There were no arrests. The investigation is focusing on the firm’s relations with British expatriate citizens resident in Majorca. Following a complaint from a retail client, the SFO launched an investigation into the investment fund, which has attracted GBP20m in investments through promises of guaranteed returns of 20% per year.
16/11/2009

150 victims of suspected Gilher fraud

The Sunday Times reports that the Serious Fraud Office (SFO) investigation of the investment fund Gilher Inc, operated by the British financier John Hirst, has uncovered a GBP20m fraud which claimed more than 150 victims, many of them British expats living in Majorca. Gilher Inc is registered in Cyprus and the Seychelles. An organisation to defend the interests of 40 victims has been formed under the leadership of Jan Fitzgerald, who personally invested EUR80,000 with Gilher. Hirst is believed to have returned to the United Kingdom, and had claimed to be suffering from leukemia.
16/11/2009

Bonuses: Bill to be announced Wednesday

Les Echos reports that the British prime minister, Gordon Brown, yesterday pledged to unveil proposed legislation to “transform” pay scales at financial sector businesses. The bill, which will grant the regulatory authorities new powers to sanction banks who abuse bonuses, will be announced on Wednesday in the Queen’s speech.
16/11/2009

RepRisk publishes list of businesses reputed for poor environmental and social practices

In September and October, a list of businesses to be avoided from an environmental and social perspective, published by RepRisk, a specialist in reputational risk, was headed by Vedanta, Chevron, Nestlé, Shell, Red Industries, Bhushan Power & Steel, ExxonMobil, Beef Products, Greater Omaha Packing co, Lone Star Beef Processors, and Cargill. The ‘black list’ is based on the RRI index of reputational risk, which is extrapolated directly from the incidence of negative reports in the press.
13/11/2009

Le fonds K1 sur le point d’être liquidé

Selon Les Echos citant Bloomberg, le fonds K1 Invest va être mis en liquidation par la société Grant Thornton, à la suite de l’arrestation de son fondateur, Helmut Kiener, fin octobre sur de nombreux griefs : malversation, abus de confiance, tromperie et même blanchiment d’argent sale. Le montant globalement en jeu est de l’ordre de 400 millions de dollars. « Une liquidation volontaire est dans le meilleur intérêt du groupe et de ses investisseurs », a indiqué le gestionnaire du fonds, FISI Financial Services, dans un courrier obtenu par l’agence Bloomberg.
13/11/2009
Fonds

Credit Suisse va commercialiser ses ETF Xmtch en Allemagne

La presse allemande est invitée par Credit Suisse à un petit-déjeuner le 17 novembre. Il s’agit de lui présenter la gamme d’ETF de la marque Xmtch, qui a été récemment élargie (lire notre article du 6 juillet) et que l'émetteur helvétique a l’intention de faire coter sur le segment XTF de la plate-forme de négociation électronique Xetra de la Deutsche Börse. De fait, le Credit Suisse envisage de faire admettre ses Xmtch, jusqu'à présent cantonnés au marché suisse, à la négociation dans d’autres pays européens, en dehors de l’Allemagne.
Fonds
13/11/2009
Fonds

DWS lance un fonds pour se protéger de l'inflation

DWS Investment lance DWS Sachwerte, un fonds diversifié investi dans des classes d’actifs permettant à l’investisseur de se protéger au mieux en cas de forte inflation. Le portefeuille est composé d’actions, de participations dans des actifs immobiliers, de matières premières, de métaux (surtout l’or), d’obligations indexées sur l’inflation et de devises. La part actions ne devrait pas, selon DWS, dépasser les 10 %.
Fonds
13/11/2009
Fonds

Barclays Global Investors va faire enregistrer douze ETF iShares

Grâce à une récente modificiation du règlement pour les fonds d’investissement qui homologue les ETF aux statuts de sicav, Barclays Global Investors peut à présent faire enregistrer ses iShares en Espagne. Dans un premier temps, rapporte Funds People, le gestionnaire demande l’agrément pour douze de ses ETF. Il s’agit des produits répliquant des indices d’actions de marchés développés comme le DJ Euro Stoxx 50, le S&P 500, le FTSE 100, le MSCI Japan et le MSCI World. Les autres reproduisent des indices d’actions de pays émergents: índices FTSE BRIC 50, MSCI Latin America, FTSE/Xinhua China 25, MSCI AC Far East ex-Japan, MSCI Brazil, MSCI Eastern Europe 10/40 y etMSCI Emerging Markets. Ces fonds sont des compartiments des sicav iShares Public Limited Company et iShares II Public Limited Company.
Fonds
13/11/2009
Fonds

Les fonds de pension reprennent quelques couleurs

Après une période difficile, les fonds de pension individuels affichent à nouveau des rendements relativement importants sur un an : d’après l’association Inverco des sociétés de gestion, la performance moyenne sur un an à fin octobre s'établit à 5,48 %, grâce à un gain de 14,12 % des fonds investis en actions. Cela posé, sur trois ans, Inverco fait état d’une perte annuelle moyenne de 0,33 %, les fonds en actions accusant un recul de 8,07 %. Sur cinq et dix ans, la performance annuelle moyenne se situe à respectivement 1,82 % et 1,33 %.Inverco indique par ailleurs que ces chiffres correspondent à 1 106 fonds de pension individuels représentent environ 96 % de l’encours total du secteur, soit 49,15 milliards d’euros répartis sur 8,35 millions de comptes.
Fonds
13/11/2009
Fonds

Liquidation des compartiments de BG Umbrella

Les compartiments Global Classic, Global Dynamic, Global Challenge, Gobal Balance, Global Discovery et Stable value de la Sicav luxembourgeoise BG Umbrella Fund seront liquidés au premier janvier 2010 en raison de l’affaire Madoff et les souscripteurs pourront récupérer à ce moment là leurs actifs, indique LRI Invest .
Fonds

Sujets d'actualité

Tous les sujets