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22/04/2013

Victoire Brasil Investimentos arrives in France

P { margin-bottom: 0.08in; } The Brazilian independent portfolio management firm Victoire Brasil Investimentos has retained Amadé Global Partners, a French TPM, to provide commercial development in France.The Latin American firm, founded in 2001, is known for its expertise on Brazilian equity markets, with nearly USD1bn in assets under management.It is now developing sales of its fund range to European institutional and private investors.It is not the first Brazilian asset management firm to enter the French market. Bradesco Asset Management, an affiliate of a major Brazilian bank, also began courting French investors a few months ago.
22/04/2013

Pay cut for BlackRock chief

P { margin-bottom: 0.08in; } Agefi reports that Laurence Fink, the head of BlackRock, made USD20.2m in 2012, down 7.5% compared with the previous year. The CEO of the asset management group earned a salary of USD500,000, a cash bonus of USD8.6m, USD10.9m in shares, and USD187,350 of compensation in other forms.
22/04/2013

Nelson Peltz increases stakes in Pepsico and Mendelez

P { margin-bottom: 0.08in; } Trian Fund, the activist hedge fund from Nelson Peltz, has announced that it has purchased additional shares in Pepsico and Mendelez. According to the Wall Street Journal, the fund now holds USD1.4bn of shares in Pepsico and USD1.3bn in shares in Mendelez. According to financial industry sources, Peltz is seeking to impose a merger of Pepsico (Frito-Lay, Tropicana and Quaker Oats) and Mendelez (Oreo and Cadbury).
22/04/2013

Unigestion signs UN-PRI

P { margin-bottom: 0.08in; } The Swiss firm Unigestion (EUR10.7bn in assets as of 31 March), on 19 April announced that it has signed the United Nations Principles for Responsible Investment (UN-PRI).“By becoming a signatory to the PRI, the firm assigns the greatest importance to the role that ESG analysis plays in investment processes throughout its product range. Unigestion will also dedicate more time to monitoring the responsible behaviour of the managers it invests with, and will encourage them to make necessary improvements where necessary,” a statement says.
22/04/2013

March Gestión absorbs three funds fron Consulnor

P { margin-bottom: 0.08in; } Funds People reports that March Gestión has absorbed the Consulnor dividendos fund into the March Europa Bolsa, the Consulnor Renta Fija Corto Plazo into the March Premier Tesorería, and the Fonconsul into the Fonmarch. There are also plans for the asset management firm for Banca March to take over the profiled funds from Consulnor in the near future.In June 2012, Banca March bought a stake in the Basque firm Consulnor, with plans to subsequently acquire all capital in the firm. Consulnor Gestión manages nine funds (including three transferred in March) for a total of EUR134m, while March Gestión has 25 funds, with EUR1.1bn. Consulnor Gestión manages 43 Sicavs with EUR259m in assets, while March Gestión has 68, with EUR874m.
22/04/2013

Artemis recruits a former Henderson manager

Artemis Investment Management has hired Henderson’s Paul Casson to help Tim Steer manage the GBP504 million Artemis UK Growth Fund, segregated institutional UK Growth accounts and the Artemis UK Hedge Fund.After a BSc in Accounting and two years as an auditor, Paul Casson started his investment career in 1997 with Martin Currie. In 2001 he moved to SVM and then in 2005 to Henderson as a director of pan-European equities. Meanwhile, Artemis also announces that Stephen Yiu, who joined Artemis with Tim Steer from New Star in 2009, has resigned in order to move back to his native Hong Kong.
22/04/2013

Head of EMEA retail sales leaves BlackRock

P { margin-bottom: 0.08in; } The head of EMEA retail strategic client accounts at BlackRock, Mark Elliott, has left the firm, Fund Web reports. He had held the position since January 2012.
22/04/2013

BNP Paribas merges fund ranges in Taiwan

P { margin-bottom: 0.08in; } BNP Paribas Investment Partners Taiwan is merging the Parvest and BNP Paribas L1 product ranges, Asian Investor reports. This will reduce the number of funds from 60 to 43, all under the name Parvest BNP. The funds which are not registered in Taiwan will be closed down. Products with the same investment theme will be merged.
22/04/2013

Lloyds may sell SWIP

P { margin-bottom: 0.08in; } Lloyds Banking Group is studying the possibility of selling its asset management affiliate Scottish Widows Investment Partnership, according to Financial News, citing a source familiar with the matter. The asset management firm has assets of GBP141.7bn.
22/04/2013

Schroders opens its Global Multi-Asset Income fund to retail investors

P { margin-bottom: 0.08in; } Schroders has added a share class in pounds sterling for retail investors to its offshore fund Global Multi-Asset Income, Investment Week reports. It is the first time that the firm has opened the fund to retail clients. The product has a one-year track record, and has received USD1bn in investment since its launch. It is managed by Aymeric Forest and Iain Cunningham.
22/04/2013

Cazenove plans to enter wealth management in Hong Kong

P { margin-bottom: 0.08in; } Cazenove Capital Management has asked the Hong Kong Securities and Futures Commission for licenses to launch investment advisory and asset management activities in the territory, Asian Investor reports.Cazenove is the subject of a takeover bid from Schroders.
22/04/2013

BlackRock recruits CM head in Asia

P { margin-bottom: 0.08in; } BlackRock has recruited Scott Greenberg from Morgan Stanley has its first head of global capital markets for Asia-Pacific, Asian Investor reports. Greenberg began in Hong Kong on 15 April, and reports to Steve Sterling.
22/04/2013

Former UBS WM manager joins Azimut

P { margin-bottom: 0.08in; } Andrea Greco has left UBS Wealth Management in Italy to join Azimut Wealth Management, Bluerating reports. Previously, Greco had worked at Banca Mediolanum and Banca Cremonese.
22/04/2013

New hedge fund in Sweden

P { margin-bottom: 0.08in; } Former members of the Swedish real estate group Sanska have founded their own hedge fund, Crescit, which was launched in April, and raised SEK800m, largely from pension funds, the website Dagens Industri reports. The firm is led by Hans Biörck, former CFO of Skanska. The managers Jonas Granholm and Gustav Lundeborg both worked at managers of the real estate group’s pension fund. Lennart Grebelius, a Swedish billionaire, is also a shareholder. The fund will be concentrated on equity index derivatives.
22/04/2013

Assets in Asian funds to approach USD2trn

P { margin-bottom: 0.08in; } Assets in Asia ex Japan funds are expected to increase by 67% to a total of USD1.9trn by 2017, Asian Investor reports, citing figures from Cerulli Associates. Last year, assets rose 20% to USD1.140trn, a record.
22/04/2013

L’Espagne affiche un déficit public record dans la zone euro

Le déficit public a reculé de 4,2 à 3,7% du PIB dans la zone euro entre 2011 et 2012, selon les données publiées ce matin par Eurostat. Le déficit public de l’Espagne a été nettement supérieur aux prévisions en 2012. Il ressort à 10,6% du produit intérieur brut (PIB), ce chiffre prend en compte l’aide fournie à Madrid pour recapitaliser ses banques en difficulté. La Commission européenne prévoyait un chiffre de 10,2% et le gouvernement de Mariano Rajoy avait annoncé un chiffre de 7%. Le déficit public de la France s’est quant à lui bien établi à 4,8% du PIB en 2012. Le gouvernement français espère ramener le déficit à 3,7% en 2013 puis à 2,9% en 2014. L’Allemagne a affiché en 2012 un excédent public de 0,2%.
Photo: PHB
22/04/2013

TPG met en vente un actif chinois

Reuters croit savoir que la société américaine de private equity a mandaté Morgan Stanley et UBS pour la vente d’UniTrust Finance & Leasing. TPG espère 800 millions de dollars de la cession de cette société spécialisée dans le financement d’équipement pour les petites et moyennes entreprises notamment dans la construction ou le médical.
22/04/2013

Baisse de rémunération pour le patron de BlackRock

Laurence Fink a perçu 20,2 millions de dollars en 2012, soit une baisse de 7,5% par rapport à l’année précédente. Le directeur général du gestionnaire d’actifs a touché un salaire de 500.000 dollars, un bonus en cash de 8,6 millions de dollars, 10,9 millions de dollars de titres et 187.350 dollars sous une autre forme.
22/04/2013

Les porteurs obligataires rejettent une proposition de l’Argentine

Les détenteurs de dette souveraine argentine en défaut, mené par Paul Singer du fonds Elliott Management et sa filiale NML Capital, ont repoussé une proposition du pays les contraignant à enregistrer une forte décote sur les obligations. Selon les créanciers, cette proposition vise à leur apporter de nouvelles obligations représentant moins de 15% de leur investissement initial.
22/04/2013

Ameriprise lorgne Scottish Widows

L’assureur américain mène la course pour le rachat de Scottish Widows Investment Partnership, filiale de gestion d’actifs de Lloyds Banking Group, avec une offre de 800 millions de livres (plus de 930 millions d’euros), croit savoir le Sunday Times sans citer ses sources. L’opération ne comprend pas l’activité d’assurance vie de Scottish Widows. Reuters avait récemment rapporté que la banque britannique avait demandé à des banques conseil d'étudier l'éventualité d’une cession de sa filiale, du fait d’une possible contrainte d’augmenter son capital. La Banque d’Angleterre a annoncé en mars que les banques du pays devaient lever 25 milliards de capitaux supplémentaires pour être en mesure de supporter d'éventuelles pertes et de poursuivre l’octroi de crédit. Le Sunday Times avance qu’Ameriprise, qui détient déjà Threadneedle Investments, se séparerait en cas de succès de la plupart des salariés de Scottish Widows basés à Edimbourg.
22/04/2013

Le code MiddleNext est mieux utilisé

A l’occasion du rapport sur les entreprises faisant référence à son code de gouvernance, l’association constate que les valeurs moyennes s’approprient de mieux en mieux le code. « Les explications des entreprises sont de plus en plus pertinentes et précises. Les sociétés s’inscrivent réellement dans une dynamique positive », selon la directrice générale de MiddleNext Caroline Weber.

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