Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
11/02/2014

Aviva Investors liquidates a real estate fund

P { margin-bottom: 0.08in; } Aviva Investors will liquidate its Property Investment fund with GBP78.9m in assets, due to its size, which makes it economically unviable, FT Adviser states. The fund had reached GBP200m in early 2011. Weak performance and redemptions had led to the fall in assets.
11/02/2014

Coupon funds boost Italian inflows by 60%

P { margin-bottom: 0.08in; } In 2013, Italian funds posted net inflows of EUR18.7bn, their best year since 1999. This return to grace has been favoured by banks, which thanks to a radical change in sales policy, have started offering funds again, especially coupon funds. According to a study carried out by Plus24, out of EUR48.7bn which were attracted to funds, about EUR30bn went to coupon funds, or 61% of the total. The newspaper stated that this is a low estimate, as asset management firms did not all disclose their data. Among the most active companies in coupon funds are Eurizon (EUR10bn in inflows to coupon funds in 2013), Pioneer Investments (EUR5.5bn), Aletti Gestielle (EUR4.7bn), Anima (EUR4.1bn), and Arca (EUR1.5bn). Plus24 claims that the commercial success of coupon funds is largely due to the attractive returns that sales networks can immediately earn.
11/02/2014

Ofi AM adds to its convertibles team

P { margin-bottom: 0.08in; } Stanislas Grenet, in charge of the credit arbitrage activity at Ofi Asset Management, is joining the convertible bond team at the asset management firm Ofi AM, led by Nancy Scribot–Blanchet et Olivier Ravey. Grenet will continue his credit arbitrage management activity. He reinforces the new team for the creation and management of synthetic convertibles. Grenet joined ADI Alternative Investments in 2006 as a manager-analyst for convertibles, and was later taken over by the Ofi group.
11/02/2014

Inflows for Barings in France despite emerging markets

P { margin-bottom: 0.08in; } Despite its significant exposure to emerging markets, Barings in France has managed to finish the year 203 with net inflows of EUR80m, Benoît du Mesnil du Buisson, chairman of Baring Asset Management France, tells Newsmanagers. Assets under management as of the end of December 2013 totalled slightly over EUR1bn, compared with EUR900m as of the end of 2012. Groupwide, assets under management remained stable at about EUR44bn.
11/02/2014

Two hedge funds face off over Argentine debt

P { margin-bottom: 0.08in; } As Argentine is facing a seond default in 13 years, two US hedge funds are playing a central role but on opposing sides in effort to help the country through its current crisis, the Wall Street Journal relates. The two firms, Gramercy Funds Management and Elliott Management, have hundreds of millions of dollars at stake. But they have adopted contrary tactics in their attempts to get their money back. Gramercy, which has USD3.9bnin assets, is advising Argentine behind the curtain on how to restore their reputation with the international community and regain access to the markets. Gamercy is facing off against Elliott, which has been fighting Argentina for years.
11/02/2014

EFG AM recruits a head of equities

P { margin-bottom: 0.08in; } The Swiss equity specialist Urs Beck has joined EFG Asset Management to oversee the launch of a fund dedicated to the Swiss market, Citywire reports. Urs Beck previously worked at the Cantonal Bank of Zurich, where he was responsible for Swiss equities in institutional and retail mandates.
11/02/2014

Algebris seeking new distribution agreements in Italy

P { margin-bottom: 0.08in; } The asset management firm Algebris Investments wants to continue to grow through new sales agreements, Alessandro Alsagna, COO of the structure, which has EUR1.5bn in assets, explains to Bluerating. “In partnership with a fund with only one strategy, we have in the past few years reached the point of managing various managed accounts and six funds, three of which are in UCITS format,” the director says. To sell this range, “We have in all eight agreements with distribution networks.”
11/02/2014

Kairos Partners recruits a veteran of Franklin Templeton

P { margin-bottom: 0.08in; } The Italian asset management firm Kairos Partners, in which Julius Baer owns a stake, has recruitd Amir Kuhdari as head of sales. Kuhdari has worked for the past seven years at Franklin Templeton Italia, where he was sales manager and head of retail.
11/02/2014

Pimco teams up with GWM in Italian real estate

P { margin-bottom: 0.08in; } Pimco has signed a joint venture with GWM, a financial company controlled by the Italian Diaz Pallavicini and Rovati families, in order to invest in shopping centres and sales points in Italy and Europe, Plus24, the money supplement of Il Sole – 24 Ore, reports. The partnership will have about EUR1bn, due to a contribution of EUR500m from the two partners (70% Pimco and 30% GWM), while the rest will come from financing. GWM will manage the investments. The first investment has already been made for EUR130m: the Da Vinci shopping centre located in the vicinity of one of the Rome airports. It is the largest shopping cente in Italy, with an area of 56,000 square metres.
11/02/2014

Deutsche A&WM launches a China ETF in Milan

P { margin-bottom: 0.08in; } Deutsche Asset & Wealth Management and Harvest Global Investments are launching a physical replication ETF on the Milan stock exchange based on the CSI300 index, composed of Chinese A-class equities. The db x-trackers CSI00 Index UCITS ETF (DR) is, according to its promoter, the first ETF compliant with UCITS in Italy to offer investors direct access to the Chinese equity market.
11/02/2014

Myra launches a multi-asset class fund of funds

P { margin-bottom: 0.08in; } The investment boutique Myra Capital is proposing to launch a new multi-asset fund of funds to offer a more diversified approach to the market, Citywire reports. The Mura Solidus Global fund will be domiciled in Luxembourg, and may be launched in early March, after obtaining regulatory clearance. The absolute return strategy will invest as a priority in actively-managed funds and ETFs.
11/02/2014

DeAWM launches a low-cost ETF range

P { margin-bottom: 0.08in; } Deutsche Asset & Wealth Management (DeAWM) is launching the “Core ETF” range, which will have a total expense ratio (TER) of 0.09% per year, or 9 basis points. The low-cost range includes ETFs which are already part of the offerings from the asset management firm, but which will have their fees reduced. This includes the X-trackers FTSE 100 UCITS ETF (DR), whose TER will be cut from 0.30% to 0.09% per year, and the db X-trackers DAX® UCITS ETF (DR), whose TER will be lowered from 0.15% to 0.09% per year. The 9 bp range will be complemented by the db X-trackers Eurostoxx 50 (DR), which will soon (during 1st quarter 2014) be converted to physical replication and will be complemented by another ETF of the MSCI USA index. “With this range of low-cost ETFs, we are seeking both to improve our range of current investors, and to extend our base of investors. With low TER, liquidity, transparency and visibility, this new range will interest a wide range of investors,” says Reinhard Bellet, head of DeAW Passive Asset Management, in a statement. With this initiative, DeAWM is entering the price war on the ETF market, which already involves Vangaurd, BlackRock and Lyxor.
11/02/2014

Growth of shadow banking is still far from offsetting the shrinkage in bank balance sheets

P { margin-bottom: 0.08in; } Although many banks have made substantial progress in reducing the size of hteir balance sheets, they still have some way to go to meet the requirements of regulators and investors. At a time when an economic recovery is emerging in the United Kingdom and continental Europe, parallel or shadow banking is continuing to grow both in terms of volume and offerings. The agency Standard & Poor’s estimates, however, that the growth of shadow banking in western Europe could be slowed by some factors despite clear signs of a growing need for financing alternatives.
11/02/2014

IOSCO consults on code of conduct for ratings agencies

P { margin-bottom: 0.08in; } The international organisation of securities commissions (IOSCO) on 10 February published a consultation document on the foundations of a code of conduct for ratings agencies, which proposes significant changes to the current code from the organisation. The code was revised in 2008, after the bursting of the financial bubble, to introduce terms to improve the quality of information as well as reflections on the resolution of conflicts of interest related to the role of ratings agencies with issuers in the creation of structured products.
11/02/2014

Gottex releases a fund in Sweden

P { margin-bottom: 0.08in; } Gottex Fund Management has launched the Swedish multi-asset class UCITS fund Gottex Balanserad Fund, on the Swedish life insurance platform Folksam, Hedge Week reports. The fund is invested in nine asset classes, including global and Swedish equities, emerging markets, real estate, commodities and hedge funds. The Swiss firm has at the same time opened an office in Stockholm (see Newsmanagers of 5 February).
11/02/2014

Canadian pension fund starts up an internal hedge fund

P { margin-bottom: 0.08in; } The Canada Pension Plan Investment Board (CAD175bn in assets) is launching an in-house hedge fund at its London office, Financial News reports. To do that, the Canadian pension fund has recruited Dureka Carrasquille from Tranberg Capital. Alain Carrier, head of Europe at CPPIB, says that the fund wants to recruit a team of five professionals to construct a long/short portfolio to target Europe, the Middle East and Africa.
11/02/2014

AMP Capital appoints a new head of fixed income

Simon Warner has been appointed as head of fixed income for AMP Capital, effective immediately. He replaces Mark Beardow, who was announced as chief investment officer of specialist investment teams in December 2013.Simon Warner has held the role of AMP Capital’s Head of Macro Markets within the fixed income team for the past seven years, Prior to joining AMP Capital in March 2007, he held a range of investment roles with JPMorgan Chase in London, Sydney and Singapore. The fixed income team has 30 dedicated investment professionals based in Australia, New Zealand, Hong Kong and Chicago.
11/02/2014

AMP Capital nomme un nouveau responsable obligataire

La société de gestion australienne AMP Capital a nommé Simon Warner en tant que responsable obligataire, à compter du 7 février. Il succède à Mark Beardow, qui a été promu CIO des équipes « specialist investment » en décembre 2013.Simon Warner était jusqu’ici responsable des marchés macro chez AMP Capital au sein de l’équipe obligataire. Il a occupé ce rôle pendant 7 ans. Avant de rejoindre AMP Capital en mars 2007, Simon Warner officiait chez JPMorgan Chase à Londres, Sydney et Singapour.L’équipe obligataire d’AMP Capital comprend 30 professionnels de l’investissement répartis entre l’Australie, la Nouvelle Zélande, Hong Kong et Chicago. AMP Capital gère 135 milliards de dollars.
11/02/2014

EFG AM recrute un responsable actions

Le spécialiste des actions suisses Urs Beck vient de rejoindre EFG Asset Management pour superviser le lancement d’un fonds dédié au marché suisse, rapporte Citywire.Urs Beck travaillait précédemment à la Banque cantonale de zurich où il avait la responsabilité des actions suisses dans les mandats institutionnels et retail.
11/02/2014

KIC crée un centre de recherche

Le fonds souverain de la Corée, Korea Investment Corporation (KIC), va créer un centre de recherche d’une vingtaine de personnes afin d’accompagner son processus d’allocation avec des analyses macro et microéconomiques, rapporte Asian Investor.Le nouveau patron du fonds de pension, Ahn Hank Hong-Chul, indique s'être inspiré de grands fonds souverains comme NBIM en Norvège ou encore GIC à Singapour qui ont mis la recherche au cœur de leur processus d’investissement.Les actifs sous gestion de KIC s’inscrivent à environ 72 milliards de dollars.
11/02/2014

Swisscanto a un nouveau responsable des placements immobiliers

Le promoteur de fonds et gérant de fortune Swisscanto a annoncé le 10 février la nomination de Stephan Lüthi au poste de directeur des placements immobiliers. Il sera ainsi responsable d’un patrimoine immobilier de plus de 6,5 milliards de francs suisses. Il prendra ses fonctions le 1er juin 2014.Ces deux dernières années, Stephan Lüthi était membre de la direction de Wincasa AG, où il était en charge de la gestion de la division Construction & Facility Management. Jusqu'à l’entrée en fonction de Stephan Lüthi, c’est le directeur adjoint des placements immobiliers, Roland Süsstrunk, qui assurera l’intérim. Les actifs sous gestion de Swisscanto s'élevaient fin décembre 2013 à plus de 51 milliards de francs suisses.
11/02/2014

Le courtier Binckbank met le cap sur la gestion d’actifs

Fort de son acquisition de la société Alex Asset Management, le courtier en ligne néerlandais Binckbank souhaite accélérer sa croissance dans la gestion d’actifs, dévoile Les Echos. Son objectif est de détenir un volume d’actifs gérés de 3,5 milliards d’euros d’ici à deux ans, contre 2,1 milliards d’euros en 2013, soit une progression de plus de 65 %. Le groupe néerlandais se dit notamment prêt à prendre des parts de marché dans l’Hexagone, mais aussi en Italie.
11/02/2014

Le hedge fund Fenician recrute un directeur général

Le hedge fund londonien Fenician Capital a recruté Andrew Crane, d’Investcorp, en tant que directeur général, rapporte Financial News. L’intéressé a précédemment travaillé pour VHC Partners et Fidelity Investments.
11/02/2014

Neil Woodford dévoile sa nouvelle société

Neil Woodford, le gérant star qui a quitté Invesco pour rejoindre un projet entrepreneurial chez Oakley Capital, va gérer des actifs sous son propre nom, est en mesure de révéler Fundweb. Woodford Investment Management a été créé le 15 janvier. La société est sise dans les locaux d’Oakley, que Neil Woodford rejoindra le 1er mai.
11/02/2014

Coutts recrute un nouveau responsable de l'investissement

Le gestionnaire de fortune britannique Coutts vient d’annoncer le recrutement de Arne Hassel en qualité de nouveau responsable des investissements à compter d’avril 2014.Arne Hassel, qui travaillait dernièrement en tant que co-responsable de l’allocation multi-classes d’actifs pour le Universities Superannuation Scheme à Londres, prend la succession de Gayle Schumacher, qui vient d'être nommée managing director responsable des projets de développement aux côtés du patron des produits, services et marketing, Ian Ewart.
11/02/2014
Fonds

Fidelity lance des fonds indiciels

Fidelity Worldwide Investments veut renforcer son offre de fonds passifs à destinations des conseillers financiers indépendants avec le lancement en mars prochain de stratégies sur l’Europe hors Royaume-Uni, le Japon, les marchés émergents et la région Pacifique hors Japon.Le groupe américain propose déjà des stratégies passives sur le Royaume-Uni, le monde et les Etats-Unis. Les fonds seront accessibles aux conseillers indépendants et à quelques gestionnaires de fortune sur la plateforme Fidelity FundsNetwork.Les fonds sont chargés à 0,16% pour l’Europe hors Royaume-Uni, 0,27% pour les marchés émergents, 0,15% pour le Japon et 0,2% pour la région pacifique hors Japon.Les fonds indiciels seront gérés par Geode Capital Management, un gestionnaire institutionnel créé par Fidelity Investments.
Fonds
11/02/2014

Duke Street cède Marlin Financial Group à Cabot Credit Management

Duke Street, société de private equity britannique détenue à majorité par la boutique de gestion française Tikehau, annonce avoir signé un accord pour la cession de sa participation dans Marlin Financial Group, l’un des leaders du rachat de créances au Royaume-Uni, à Cabot Credit Management Limited. La transaction valorise Marlin à environ 295 millions de livres, précise un communiqué.
11/02/2014

Source recrute un directeur des intermédiaires au Royaume-Uni

Le fournisseur d’ETP Source a recruté Dominic Clabby en tant que directeur des intermédiaires au Royaume-Uni et en Irlande, rapporte Fund Web. Il couvrira les plates-formes, les intermédiaires et les conseillers en gestion de patrimoine. Dominic Clabby était précédemment chez Axa Elevate.
11/02/2014

Richard Buxton précise ses ambitions chez OMGI

Dans un entretien au Financial Times fund management, Richard Buxton explique les raisons de son départ de Schroders pour Old Mutual Global Investors. « J’étais chez Schroders depuis 12 ans et je voulais relever un nouveau défi », indique le gérant vedette, qui ne se voit toutefois pas comme une star. « Mon fonds représentait 6 % des encours sous gestion de Schroders, donc je n’étais pas sûr de faire la différence, alors qu’ici [chez OMGI] je peux faire la différence, en aidant à bâtir une activité ». Il poursuit : « Nous voulons bâtir une plus grosse activité au Royaume-Uni. Nous voulons édifier une grande franchise de gestion d’actifs. Nous sommes plus petits, mais nous avons des ambitions ». OMGI gère 16 milliards de livres d’encours, précise le FTfm.
11/02/2014
Fonds

Schroders lance un fonds dédié aux actions émergentes

Le britannique Schroders a lancé un fonds dédié aux actions émergentes et plus particulièrement aux petites capitalisations, rapporte Citywire.Le Schroder ISF Global Emerging Markets Smaller Companies fund, domicilié au Luxembourg, est actuellement en incubation et vise en priorité les investisseurs institutionnels.
Fonds

Sujets d'actualité

Tous les sujets