BNY Mellon Investment Management a annoncé ce 24 septembre sa décision d’arrêter les activités d’EACM Advisors, une entité jusqu’ici autonome au sein du groupe et spécialisée dans les stratégies long-only et les fonds de hedge funds, au total quelque 3,9 milliards de dollars sous gestion à fin août 2018. Concrètement, les stratégies de fonds de hedge funds, soit quelque 2,1 milliards de dollars sous gestion, seront fermées aux nouveaux investisseurs et les capitaux existants remboursés progressivement.Il a également été décidé, avec l’approbation du conseil d’administration du fonds, de liquider le fonds Dreyfus Select Managers Long/short, pour lequel EACM est le gestionnaire responsable de l’allocation. Cette liquidation devrait intervenir le ou aux alentours du 30 novembre 2018, précise un communiqué. Les deux mutual funds long only de Dreyfus, pour lesquels EACM est responsable de l’allocation, à savoir Dreyfus Select Managers Small Cap Value Fund et Dreyfus Select Managers Small Cap Growth Fund, dont les actifs sous gestion cumulés atteignent 1,8 milliard de dollars, continueront d'être gérés au sein de BNY Mellon Investment Management."Malgré l’historique de performance d’EACM, la demande de stratégies de fonds de hedge funds a diminué. Suite à une évaluation du marché, nous ne considérons plus la catégorie des fonds de hedge funds comme une offre autonome au sein de notre portefeuille de gestion américain compte tenu des capacités intégrées dont nous disposons par ailleurs», a commenté Des Mac Intyre, directeur général de gestion américain chez BNY Mellon Investment Management et membre du conseil d’administration d’EACM.

Lazard Asset Management a annoncé l’ouverture d’un bureau à Amsterdam pour servir ses clients basés aux Pays-Bas. Le nouveau bureau sera piloté par Marcel van Ostaden, qui rejoint Lazard en qualité de directeur des ventes pour les Pays-Bas. Dans ses nouvelles fonctions, Marcel van Ostaden sera responsable des ventes retail et institutionnels ainsi que du marketing dans la région.Marcel van Ostaden travaillait précédemment chez Lombard Odier Investment Managers où il a été responsable des ventes pour le Benelux pendant six ans. Avant de rejoindre Lombard Odier IM, il a été responsable des ventes chez BlackRock pendant sept ans. A fin juin 2018, Lazard et les sociétés de gestion affiliées au sein du groupe Lazard affichaient des actifs sous gestion de 238 milliards de dollars.

Le gestionnaire d’actifs J.P. Morgan Asset Management (J.P. Morgan AM) vient de nommer Manuel Arroyo au poste de directeur des ventes « retail » pour l’Espagne et le Portugal à la suite du départ en août de Miguel Luzarraga, rapporte le site InvestmentEurope. Ce dernier a en effet rejoint AllianceBernstein pour diriger le bureau espagnol récemment ouvert par la société américaine. Pour sa part, Manuel Arroyo officiait jusque-là en tant que directeur de la stratégie pour le marché ibérique chez J.P. Morgan AM, société qu’il a intégrée en 2000.

Le gestionnaire d’actifs américain BNY Mellon Investment Management (BNY Mellon IM) a commencé à commercialiser ses fonds thématiques sur le marché espagnol, rapporte le site spécialisé Funds People. La société de gestion vient ainsi de lancer le fonds BNY Mellon Mobility Innovation, un nouveau fonds actions mondiale « long-only » destiné aux investisseurs institutionnels, aux particuliers et aux intermédiaires. Ce véhicule est géré par l’équipe d’investissement dirigé par Sean Fitzgibbon au sein de The Boston Company, une des sociétés qui a intégré BNY Mellon Asset Management North America. Le fonds BNY Mellon Mobility Innovation réplique une stratégie lancée en Asie au début de cette, dont les encours ont déjà atteint 3 milliards de dollars.

BlackRock Real Assets propose désormais aux investisseurs allemands son fonds Eurozone Core Property Fund, lancé en avril dernier au Luxembourg. Ce fonds ouvert s’intéresse en priorité aux immeubles de qualité dans la zone euro et dans les pays dont les monnaies sont liées à l’euro, précise un communiqué.A l’occasion d’un premier closing le fonds a reçu des investisseurs des engagements de plus de 280 millions d’euros, selon le communiqué.Le fonds envisage d’ores et déjà d’investir dans l’immobilier de bureaux à Paris, Munich et Hambourg ainsi que dans des surfaces commerciales à Copenhague.

Deka Bank enrichit son offre d’ETF avec le lancement du MSCI World Ucits ETF à la Deutsche Börse et à la Bourse de Stuttgart à compter de ce 25 septembre, rapporte Investment Europe. l’indice sous-jacent MSCI World compte actuellement 1.643 sociétés basées dans 23 pays développés, les fabricants de bombes à fragmentation et de mines étant explicitement exclus de cet indice.L’ETF est chargé à 0,3% par an.

Le gestionnaire de fortune digital allemand Liqid, basé à Berlin, a annoncé une levée de fonds de 33 millions d’euros qui doit lui permettre de poursuivre sa croissance. Le tour de table a été piloté par Toscafund Asset Management, la société de gestion alternative basée à Londres qui gère plus de 4 milliards de dollars. Ont également participé à l’opération des actionnaires existants dont Project A, HQ Trust et Dieter von Holtzbrick Ventures.Toscafund, qui prend une participation dans Liqid par le biais du Tosca Private Investments Fund, devient ainsi un actionnaire significatif de la fintech.Deux ans à peine après son lancement, Liqid gère quelque 300 millions d’euros, précise le communiqué.

Les stratèges de la Deutsche Bank évaluent tous les moyens de renforcer la présence de leur groupe au niveau mondial. Deutsche Bank a ainsi étudié un scénario de fusion avec UBS, rapporte le quotidien allemand Handelsblatt. Ce scénario et celui d’une fusion potentielle avec Commerzbank ont été examinés lors d’une réunion sur la stratégie début septembre avec le conseil de surveillance, précise le journal en citant des sources bien informées des milieux financiers.Sur le papier, un rapprochement avec UBS serait préférable à un mariage avec Commerzbank dans la mesure où Deutsche Bank et le groupe suisse sont complémentaires dans les secteurs de la banque d’investissement et de la gestion d’actifs, relève le Handelsblatt. En revanche, un rapprochement avec Commerzbank, qui déboucherait sur la création, a priori séduisante, d’un «champion national», pourrait entraîner des coûts de restructuration significatifs en raison de nombreux doublons.

Fidelity International on 25 September announced the appointment of Charles-Antoine Smet as director of sales to institutionals and businesses in Paris, from 1 October 2018. At the French office of Fidelity International, Smet will direct the institutionals and businesses unit, currently composed of Luc Sgualivato and Samir Bouheraoua. Smet, 41, has 18 years of experience in the asset management industry. He was a director at Allianz Global Investors, where he had served since 2006 as part of the institutional sales team, and joins Fidelity on 1 October 2018. He previously participated in the development of Swan Capital Management (2003-2006), where he focused on financial adviser and private bank clients. He began his career at Société Générale, and then at Goldman Sachs Inc & Cie. Smet is a graduate of the EM Lyon school of management, and has a degree in economics from Université de Paris II Panthéon-Assas. p { margin-bottom: 0.1in; line-height: 115%; background: transparent none repeat scroll 0% 0%; }

BNY Mellon Investment Management on 24 September announced that it has decided to stop the activities of EACM Advisors, a previously independent entity within the group, specialised in long-only and hedge fund strategies, totalling about USD3.9bn in assets under management as of the end of August 2018. The fund of hedge fund strategies, totalling about USD2.1bn under management, will be closed to new investors, and existing capital will be gradually repaid.It has also been decided, with the approval of the board of directors of the fund, to liquidate the Dreyfus Select Managers Long/short fund, for which EACM is the manager responsible for allocation. The liquidation is expected to take place on or about 30 November 2018, a statement says. The two long-only mutual funds from Dreyfus for which EACM is responsible for allocation, Dreyfus Select Managers Small Cap Value fund and Dreyfus Select Managers Small Cap Growth Fund, with total assets under management of USD1.8bn, will continue to be managed within BNY Mellon Investment Management.“Despite the long track record of EACM, demand for fund of hedge fund strategies has fallen. Following an evaluation of the market, we no longer consider the fund of hedge fund category to be an independent product range within our US asset management portfolio, in light of the integrated capacities we have elsewhere,” said Des MacIntyre, CEO for US asset management at BNY Mellon Investment Management and a member of the board of directors at EACM.

The DLPK group, which includes the Nortia, Nortia Invest and Haas Gestion companies, is currently in talks to acquire APREP, the website H24 Finance reports. The news has been confirmed to editors at NewsManagers by the directors of DLPK. “This acquisition project confirms the strong ambitions of the group in terms of development and diversification; the entry into our capital of an investor like Blackfin in February this year has allowed us to seize external growth opportunities,” explains Vincent Dubois, chairman of the DLPK group.Following the acquisition of Sélection 1818 in April this year, the planned acquisition of APREP comes as an addition to the diversification strategy of the group for its activities, by adding wealth planning. The group may offer a full range of services to its IFA clients, and build a presence in remote services with the Groupe Expert & Finance, which is currently in negotiations to acquire the platform Finaveo.The APREP platform, which has EUR2bn in assets under management, is controlled by the La Mondiale group, which did not wish to comment at this stage in the talks.If the acquisition is confirmed, assets under management by the DLPK group for the savings branch (life insurance and securities accounts) would total EUR12bn. Additionally, all employees at APREP would be integrated into the group, which also plans to increase its teams at its two locations (Paris and Roubaix), to ensure the consistency and quality of its service. In total, personnel at the group may reach 200 by 2019.

DNCA Finance (DNCA) is movnig to SRI. The French asset management firm, an affiliate of Natixis Investment Managers (Natixis IM), yesterday unveiled its new framework dedicated to socially responsible investment (SRI). “For two years, we have been called on by several of our clients to develop a range and expertise in the area of SRI,” explains Eric Franc, CEO of DNCA, at a meeting with the press. The asset management firm ultimately decided to move from words to deeds, and has recruited two analysts. Following the arrival of Léa Dunand-Chatellet in June 2018 as an analyst-manager and director of the responsible investment (IR) unit, DNCA in August welcomed Alix Chosson as an analyst in the same unit. The two will have the challenging job of developing the SRI approach at DNCA, as well as a dedicated range of funds. “This is a first step for our firm,” says Franc. Chosson, 31, began his career in 2010 at Amundi as a governance and SRI analyst, before joining Generali Investments, and then Standard Life Investments in 2013, where she participated in the implementation of the new ESG integration strategy and the creation of the impact investing process. In 2016, she joined the SRI team at Axa Investment Managers in London, where she participated actively in the development of climate change expertise. She then returned to France, to Natixis CIB, as a senior sell-side analyst specialised in environmental themes and carbon-intensive sectors. “Between us, we represent the IR team, which is fully integrated into the management team at the firm,” says Dunand-Chatellet. This team will eventually “gain one more person to do analysis,” she says. The construction of the team is accompanied by the creation of a new range of SRI funds, entitled DNCA Invest Beyond. “This range includes three funds, which have been converted to SRI, since their managers had already become aware of the need to take sustainable development challenges and corporate responsibility into account,” the director says. “These three funds represent about EUR500m in assets.” Specifically, the range includes two generalist funds: DNCA Invest Beyond Global Leaders (EUR349m in assets), which targets global leaders in the sustainable economic transition, and DNCA Beyond European Leaders (EUR26m in assets), which concentrates on the same theme, targeting European equities. The third vehicle, entitled DNCA Invest Beyond Infrastructure & Transition (EUR146m in assets), targets European equities, and aims to invest in infrastructure which contributes to the sustainable economic transition. The three funds are part of the DNCA Invest SICAV, the asset management firm states. DNCA is not planning to stop there. “In January 2019, we are going to launch new SRI funds as additions to the range, probably three of them,” says Dunand-Chatellet. These SRI funds will be managed on the basis of an approach which combines two major areas: corporate responsibility on the one hand, which evaluates the risks companies face, and on the other hand, the sustainable economic transition, which is considered a source of investment opportunity. “Our work is to identify relevant themes for the sustainable economic transition, and then, breaking this down, to select companies which contribute to it,” Dunand-Chatellet explains. “The combination of these two challenges is very important, since one requires the other.” As part of this approach, DNCA has decided to take SRI research on board internally, and to develop a proprietary analysis model, entitled Above and Beyond Analysis (ABA). “This proprietary model allows us to cover all stocks, including the ones which are poorly covered by traditional ratings agencies,” Dunand-Chatellet explains. “This allows us to be more flexible and to better map out the companies according to a risk/opportunity approach, which represents the key to our process.” At a presentation, Franc took the occasion to lay out an initial assessment of the activities of the firm. “Our assets under management now total EUR25.6bn as of 31 august 2018,” he said. Since the start of the year, its net inflows have totalled EUR1.2bn. The new bond team alone, led by Pascal Gilbert and François Collet, “has had EUR1.5bn in inflows,” says Franc. The CEO also points out that Natixis IM has increased its stake in the capital of the firm to 80%, and that Natixis IM has an objective of “controlling 100% of the firm by 2020.” p { margin-bottom: 0.1in; line-height: 115%; background: transparent none repeat scroll 0% 0%; }

In response to recent media speculation, GAM confirmed yesterday that its internal investigation into the conduct of Tim Haywood, investment director of the ARBF funds, commenced following concerns raised by an internal whistle-blower. In line with its established processes, GAM took the concerns very seriously whilst also ensuring that it protected the existence and identity of the whistle-blower. GAM fully intends to continue to provide all appropriate protections to the whistle-blower. In November 2017, an internal investigation, supported by independent external counsel, was launched. In March 2018, the whistle-blower expanded on the initial concerns and contacted the FCA whilst keeping the company informed. The internal investigation evolved as more facts and circumstances were uncovered and identified a number of potential misconduct issues, the cumulative effect of which led to the decision to suspend Mr Haywood. As previously stated, no other employees are being investigated in relation to these matters and no evidence was found to indicate that such an investigation regarding other employees was required. The internal disciplinary process in respect of the suspended investment director is on-going. The liquidation of the ARBF funds which ensures that all investors are treated equally and fairly is continuing, with between 60% and 87% of the funds returned to date. The second liquidation payments will start in the week of 24 September 2018 with further fund assets being liquidated to cash and returned to investors over the following months, dependent on market conditions. No material client detriment has been identified to date and we continue to keep this under review. As previously stated, the potential conduct issues identified related to failure to conduct or evidence sufficient due diligence and failure to make accessible internal records of documents in certain instances. Additionally, the investigation concluded that Mr Haywood may have breached the company’s signatory policy and may have used his personal email for work purposes. He also breached the company’s gifts and entertainment policy. GAM Group CEO, Alexander Friedman, said: «At the heart of every modern financial services firm’s systems and controls should be a culture that encourages people to come forward with concerns about colleagues’ behaviour. The only way to maintain that culture is to protect those who are brave enough to do so and to hold accountable those found to be breaking the rules. This is central to trusted client relationships and we will never compromise on this point. I’m grateful to every one of our clients that has taken the time to understand our approach to these issues and we continue to work tirelessly in their best interests.»

Lazard Asset Management (LAM) announced that it has opened an office in Amsterdam to serve Netherlands-based clients. The Amsterdam office will be headed by Marcel van Ostaden, who has joined LAM as Director of Sales for The Netherlands. He will be responsible for retail and institutional sales and marketing for LAM in the region.“The Netherlands is an important and growing market for us,” said, Jeremy Taylor, CEO of Lazard Asset Management Limited. “Marcel brings more than 20 years of investment industry experience, and his knowledge and expertise will position us well for continued growth in the region.”Prior to joining LAM, Mr. van Ostaden spent six years as Country Head of Sales Benelux at Lombard Odier Investment Managers. He was a Sales Director at BlackRock between 2005 and 2012. Mr. van Ostaden also worked in sales roles for BMO Global Asset Management between 2001 and 2005. He has a Master’s Degree in Business Economics from the University of Rotterdam and is a Certified European Financial Analyst.

Schroders a annoncé ce 24 septembre le recrutement de Ped Phrompechrut au poste nouvellement créé de «Solutions Manager», spécialiste de l’investissement dans le private equity au sein du pôle Solutions. Basé à Londres, la nouvelle recrue sera rattachée à Neil Walton, responsable des solutions d’investissement.Ped Phrompechrut travaillait précédemment chez Willis Towers Watson où il était responsable «Private Market Solutions». Dans cette fonction, il supervisait toutes les classes d’actifs privés, dont le private equity, l’immobilier, les infrastructures et le crédit privé.Les actifs sous gestion du pôle Solutions s'élèvent à environ 77 milliards de livres à fin décembre 2017.

Newton Investment Management (Newton IM), filiale du groupe BNY Mellon, a annoncé, ce 25 septembre, la nomination avec effet immédiat d’Andrew MacKirdy en tant que gérant de portefeuille au sein de l'équipe en charge de la stratégie « Global Equity income » qui affiche 9,3 milliards d’euros d’encours. L’intéressé travaillera aux côtés du gérant principal Nick Clay, des gérants de portefeuilles Robert Canepa-Anson, Colin Rutter et Raj Shant et d’une équipe de 29 analystes. Andrew MacKirdy, qui compte plus de 20 ans d’expérience dans le secteur de la gestion, rejoint Newton IM après avoir passé six ans chez Polar Capital, où il était associé (« partner »), travaillant notamment au sein de l’équipe en charge des stratégies actions mondiales. Au cours de sa carrière, il a également occupé des postes de gérants chez Lansdowne Partners, Baillie Gifford ou encore Franklin Templeton. Selon le site anglais Investment Week, Andrew MacKirdy remplace ainsi Ian Clark, qui a quitté la société de gestion en août pour devenir associé au sein d’une boutique de gestion dont le nom n’a pas été dévoilé.

Ostrum Asset Management (ex-Natixis AM) va recourir à un dispositif de rupture conventionnelle collective (RCC) pour supprimer 50 postes d’ici à fin 2020, soit 10% de ses effectifs, a déclaré une source syndicale à L’Agefi, confirmant une information des Echos. La filiale française de gestion de Natixis prévoirait de réduire ses coûts de 25% sur la période et a déjà taillé dans les dépenses liées à ses prestataires externes.

Le Danemark a demandé hier à ses banques de doubler leurs réserves de fonds propres, face à la menace d’une déstabilisation de l’ensemble du secteur financier danois. Cela fait suite au scandale de blanchiment d’argent impliquant Danske Bank, portant sur 200 milliards d’euros de transactions effectuées via sa filiale estonienne entre 2007 et 2015. Le Conseil du risque systémique, organe chargé de veiller à la stabilité du système financier du pays, a recommandé au gouvernement d’exiger un doublement des réserves de fonds propres que les banques doivent détenir pour faire face à d'éventuels chocs économiques, pour les porter à 1% de leur encours de prêts, en raison du dossier Danske Bank, mais aussi des risques croissants sur leurs prêts. Le gouvernement a immédiatement suivi ses recommandations et va demander aux banques d’accroître leurs réserves à compter du 30 septembre. Danske Bank a été invitée à s’expliquer devant cette commission parlementaire. La banque, qui n’est pas obligée de répondre favorablement à cette requête, n’a pas encore pris de décision. L’agence de notation Fitch a pour sa part abaissé de stable à négative sa perspective sur la note de crédit de Danske Bank.

A l’occasion de la semaine de la finance responsable, l’Association française de la gestion financière (AFG) a publié hier ses premières statistiques «investissement responsable» de la gestion d’actifs française. A fin 2017, les encours représentaient 1.081 milliards d’euros, dont 430 milliards en fonds et 651 milliards en mandats. Les encours ISR proprement dits représentent 310 milliards d’euros soit 29% du total de l’investissement responsable, en croissance de 12% sur un an.

Le gérant alternatif a lancé une réflexion stratégique pour mieux exploiter ses capacités de gestion pour compte de tiers et doper ses frais de gestion.

Pour le compte de CNP Assurances, Axa Investment Managers - Real Assets a conclu un accord de pré-location à long terme avec la société Murex, portant sur l’ensemble des espaces disponibles de l’immeuble Freedom, situé au 15-25, boulevard de l’Amiral Bruix à Paris (16ème arrondissement). Dans ce cadre, l’architecte français Philippe Chiambaretta procède au redéveloppement de l’immeuble afin de livrer 16.600 m² d’espaces de bureaux, répartis sur neuf étages. La livraison est prévue au quatrième trimestre 2019, au terme duquel Freedom devrait obtenir la certification BREEAM Very Good. Mandaté par CNP Assurances, AXA IM-Real Assets a entamé les travaux de restructuration en décembre 2017, sous la direction de Vinci Immobilier. AB.

Le fonds de pension japonais Government Pension Investment Fund (GPIF), l’un des plus gros fonds de pension au monde, a annoncé, ce 21 septembre, avoir confié un mandat immobilier mondial « Core Strategy » à CBRE Global Investment Partners. Dans le cadre de ce mandat, le gestionnaire d’actifs est chargé de mettre en oeuvre une stratégie multi-gérants (« Multi-Manager ») pour cette classe d’actifs par le biais d’un fonds de fonds. Ce choix fait suite à un appel d’offres lancé en avril 2017. Le montant du mandat n’a pas été dévoilé. TC.

L’archevêque de Canterbury (Église d’Angleterre), Justin Welby, s’est pris les pieds dans la soutane. Dans un discours prononcé mercredi 12 septembre devant le Congrès des syndicats, il a critiqué vertement les « grandes entreprises comme Amazon et d’autres sites en ligne, de la nouvelle économie, qui peuvent s’enfuir sans payer de taxe, constituant un problème pour le système fiscal ». Il ajoutait « qu’après avoir abandonné les contribuables, ils n’ont pas à payer pour la défense, la sécurité, la stabilité, la justice, la santé, l'égalité, l'éducation ». Il pointait également les bas salaires et les conditions de travail du géant américain. Cependant l’Église d’Angleterre qui détient un fonds de plus de 9 milliards d’euros, investit massivement dans Amazon. La presse anglaise (Church Times) rappelait que les actions Amazon détenues par l’Église constituaient l’un de ses 20 plus gros placements, alors que l’Église refusait de donner un chiffre plus précis. L’Église anglicane a réagi en expliquant qu’être actionnaire d’une entreprise et la critiquer n’était pas nécessairement contradictoire et qu’il était plus efficace d’être « dans la salle avec ces sociétés en cherchant à les changer en tant qu’actionnaires ». L’Église a indiqué qu’elle ne comptait pas vendre ses actions. TV

A l’occasion de la semaine de la finance responsable, l’Association française de la gestion financière (AFG) publie pour la première fois mardi les statistiques investissement responsable de la gestion d’actifs française. A fin 2017, les encours représentaient 1.081 milliards d’euros, dont 430 milliards en fonds et 651 milliards en mandats. Les encours ISR proprement dits représentent 310 milliards d’euros soit 29% du total de l’investissement responsable, en croissance de 12% sur un an.

Le Danemark a demandé aujourd’hui à ses banques de doubler leurs réserves de fonds propres face à la menace d’une déstabilisation de l’ensemble du secteur financier danois à la suite du scandale de blanchiment d’argent impliquant Danske Bank, portant sur 200 milliards d’euros de transactions effectuées via sa filiale estonienne entre 2007 et 2015. Ce scandale représente un risque pour l’ensemble du secteur financier danois, a estimé aujourd’hui le Conseil du risque systémique, organe chargé de surveiller les éventuelles menaces pesant sur la stabilité du système financier du pays.

The California Public Employees’ Retirement System announced that Yu Ben Meng has been selected as the pension fund’s new chief investment officer (CIO). Meng is returning to CalPERS to assume the CIO role and will report to CalPERS chief executive officer Marcie Frost."We are so pleased to welcome Ben back to CalPERS,» Frost said. «Ben’s strong investment background makes him well-suited to lead our investment strategy. He understands the need to drive investment returns to help us achieve a fully funded system."Meng, a United States citizen born in China, will oversee an Investment Office of nearly 400 employees and be responsible for investment policies, risk management, corporate governance standards, and environmental, social, and governance strategies. He will implement the asset allocation set by the CalPERS board, and manage a $360 billion investment portfolio comprising public and private investments. A start date has yet to be determined."During his time with CalPERS, Ben acquired a deep understanding of the asset and liability management process that has become so important to achieving our goals,» Frost said. «He knows the complexities of our system and can hit the ground running."Meng, 48, is returning to CalPERS after serving as the Deputy CIO at the State Administration of Foreign Exchange (SAFE) for the past three years.Prior to SAFE, Meng was at CalPERS for seven years with his last role as the investment director of Asset Allocation. He also was a portfolio manager in fixed income. Before joining CalPERS in 2008, Meng worked at Barclays Global Investors as a senior portfolio manager, Lehman Brothers as a risk officer, and Morgan Stanley as a fixed income trader.He holds a master’s degree in financial engineering from the Haas School of Business at the University of California, Berkeley, and a doctorate in civil engineering from the University of California, Davis. He also serves as an associate editor for the Journal of Investment Management.In 2014, he was the recipient of the Cheit Award for Excellence in Teaching at the Haas School of Business. Meng replaces Ted Eliopoulos, who is leaving CalPERS to relocate to New York.Korn Ferry, a global recruitment firm, assisted in the search for the position.

The Japanese pension fund Government Pension Investment Fund (GPIF), one of the largest pension funds in the world, on 21 September announced that it has awarded a core strategy global real estate mandate to CBRE Global Investment Partners. As part of the mandate, the asset management firm will be responsible for implementing a multi-manager strategy for this asset class, via a fund of funds. The choice follows a request for proposals in April 2017. The amount of the mandate has not been revealed. p { margin-bottom: 0.1in; line-height: 115%; background: transparent none repeat scroll 0% 0%; }

Socially responsible finance accounted for 154 positions in first quarter 2018, compared with 100 positions in the sector in 2015, a study by Birdeo of 637 financial management firms in France has found. The growth is 15% per year, and is expected to accelerate, according to professionals in the sector. The study also emphasizes that asset management positions are overrepresented (88%) compared with positions in private equity (12%). Concerning asset management, the majority of experts currently have less than five years of experience, with an average income of EUR50,000 per year. In private equity, however, two thirds of profiles have between three and seven years of experience, and the average income is slightly higher: EUR70,000 per year.“The growth of the sustainable finance sector is largely the result of growth in investments by retail and institutional clients in socially responsible investment (SRI) funds. … The growing imbalance between the number of positions offered and the number of profiles may work in favour of the ‘traditional’ financial industry profiles, which seek to specialist in green finance (currently primarily in extra-financial ratings agencies), ‘private equity’ service profiles at CAC40 businesses, and most of all, major auditing and consulting firms (the members of the big four: Deloitte, PwC, Ernst & Young and KPMG),” Caroline Renoux, CEO and founder of Birdeo, says.This growth phenomenon naturally leads to the development of new jobs at banks, insurance companies, investment funds, ratings agencies, consulting firms specialised in the banking sector, participatory financing platforms, and extra-financial ratings agencies. Birdeo has identified the 12 professions which are recruiting: extra-financial analyst, extra-financial analyst of SMEs and mid-sized businesses, governance analyst, ESG head, SRI research analysis assistant, sales/business development, crowdfunding analyst, compliance specialist, buy-side financial analyst, sell-side financial analyst, equity research, and financial structurer.

The independent asset management firm Amiral Gestion on 24 September announced two new recruitments to “support development and meet the expectations of investors.” Pierre-Antoine Door joined the firm as head of institutional investor relationships, while Jean-Christophe Drillaud has been appointed as director of marketing and communication. Door began his career as a consultant from 2000 to 2008 for various financial establishments (CDC AM, Maaf Assurances, BNP Paribas CIB, Natixis AM and others). He then participated in the development of Tocqueville Finance from 2008 to 2014, and then Métropole Gestion until 2017, for institutional clients. He joined Amiral Gestion during 2018. Drillaud, for his part, began his career at Société Générale Asset Management in marketing. He then joined the offices of Lombard Odier Investment Manager in 2005 as an investor relationship agent. In 2017, he joined the marketing team at OFI Asset Management, where he served in various roles, until 2017, when he became deputy director of international development. In August 2018, he joined the teams at Amiral Gestion. p { margin-bottom: 0.1in; line-height: 115%; background: transparent none repeat scroll 0% 0%; }

Société Générale Securities Services (SGSS) on 24 September announced the launch of “D-View,” a fund distribution analysis tool dedicated to asset management firms. With this custom reporting and analysis solution, SGSS offers asset managers “an innovative tool to assist in decision-making for distribution strategy for their funds domiciled in various countries,” a statement says. D-View allows asset managers to access personalised control panels depending on their needs, and offers them a consolidated vision of the distribution data for their funds, from various domiciles. With this detailed reporting and analysis tool for their investors, distributors and the performance of their funds on various markets, asset managers can easily adapt their distribution strategy. The D-View solution developed by SGSS is available on SG Markets, the online services platform aimed at clients of major client banking and investor solution activities. D-View allows asset managers to have easy access to varius information, including subscriptions and redemptions to funds, which may be compared with assets under management, details of flows by country, investor typology, type of fund, ISIN code, rankings of the top 10 distributors for each fund, and access to historic data for the past five years. “With D-View, SGSS provies a smart reporting and analysis solution which meets the needs of asset managers seeking to optimise their distribution strategies,” says Sarj Panesar, director of development for asset managers at SGSS. “With new technologies, we are able to transform information about our clients and to exploit these effectively to offer custom analysis solutions.” The new solution is based on “data lake” from SGSS, an innovative technology which stores and aggregates information and data collected from transfer agents. D-View now includes data from funds domiciled in Luxembourg, Ireland and Germany, and from 2019, data from France, Italy, the United Kingdom and Switzerland. The solution already covers 88% of data in cross-border funds. p { margin-bottom: 0.1in; line-height: 115%; background: transparent none repeat scroll 0% 0%; }