Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
15/04/2013

Wells Fargo: record profits in Q1

P { margin-bottom: 0.08in; }A:link { } For January-March, Wells Fargo & Company has posted a record net profit of USD5.2bn, compared with USD5.1bn in October-December, and USD4.2bn in the corresponding period of 2012.Net profits for the wealth management, brokerage and retirement unit totalled USD337bn in first quarter 2013, compared with USD143.4m in the three months from October-December, and USD296m in the corresponding period of last year.
15/04/2013

Asset management net profits up 26% at JP Morgan in first quarter

P { margin-bottom: 0.08in; }A:link { } Net profits at the asset management unit of JP Morgan totalled USD487m in first quarter, up by USD101m, or 26%, compared with the corresponding quarter of 2012, according to figures released on 12 April. Assets under management increased by USD101bn, or 7%, to a total of USD1.5trn, due to a net inflow to long-term products and a positive market effect. Other assets, including assets under custody or administration, increased by USD57bn, or 9%, to a total of USD688bn, due to positive market effect and net inflows.
15/04/2013

Volume of transactions at Amundi Immobilier tops EUR1.5bn in 2012

P { margin-bottom: 0.08in; }A:link { } The volume of trades engaged in by Amundi Immobilier in France and internationally in the year 2012 totalled EUR1.5bn, which brings total assets under management to EUR7bn, up 10%. According to the asset management firm, Opcimmo, its most recent collective real estate investment organism contributed to this result, as the product received investments from the group’s networks (regional savings banks, LCL and CA Assurances), giving it 75% market share in terms of inflows, the firm says. In 2013, Amundi Immobilier will diversify its international investments to offer its clients a wider range of access to the European market.
15/04/2013

Invesco sells Atlantic Trust PWM to CIBC

P { margin-bottom: 0.08in; } The Chinese firm CIBC has announced that it has acquired Atlantic Trust Private Wealth Management (USD20bn in assets) from Invesco for USD210m in cash, equivalent to 1.05% of assets under management. Atlantic Trust PWM provides integrated wealth management solutions to high net worth retail clients, familiies, and foundations. The firm has 235 employees.
15/04/2013

Santander finalises its private banking line-up

P { margin-bottom: 0.08in; }A:link { } Alberto Ridaura, who had been head of wealth management activities, has been appointed as deputy director of the Santander private bank, alongside Eduardo Suárez (see Newsmanagers of 9 April), who has been selected as CEO of the unit, which has assets of EUR100bn, of which EUR65bn come from the wealth management division, Funds People reports.Santander has also appointed the 17 territorial heads in its private bank.
15/04/2013

Santander preparing to rationalise its fund range

P { margin-bottom: 0.08in; }A:link { } According to a document obtained by Funds People, Santander will be taking the occasion of the absorption of its affiliates Banif and Banesto to rationalise its investment fund ranges, which include a total of 197 products under the Santander, Banif, Banesto, Citibank and Openbank brand names. By June, the group will be merging bond funds so as to eliminate 12 products. The new funds will be divided into several share classes, with varied commission levels. Nine equity funds will also be eliminated through merger-absorption.In September, the wave of rationalisation will be extended to profiled funds, the Santander “Select” range, whose assets will increase from EUR1bn currently to EUR2.4bn. The absolute return range will include only two funds, with assets of EUR800m.
15/04/2013

Allfunds gets head of development

P { margin-bottom: 0.08in; }A:link { } The Allfunds Bank platform (Santander and Intesa Sanpaolo) has appointed Jaime Pérez-Maura as head of development and planning of sales. He will be responsible for new activities in Europe and Asia. In addition, he will be responsible for overseeing key global accounts, Funds People reports.Pérez-Maura, who will report to Gianluca Renzini, head of sales, will retain responsibility for communications and market intelligence, but he will abandon direction of investment solutions, a position he had held for 13 years.
15/04/2013

Foreign firms gain Spanish fund market share

P { margin-bottom: 0.08in; }A:link { } According to the latest quarterly CNMV bulletin, assets in Spanish funds had fallen as of 31 December by 6.3% year on year, to EUR124.0399bn, compared with EUR132.3688bn, with net redemptions totalling EUR11.4954bn.However, assets in foreign funds increased by 26.8% to a total of EUR38bn, while the number of such funds rose 2% to 754. Assets under managed did total over EUR36.69bn as of the end of 2010 (before a fall to EUR29.97bn as of the end of 2011), but they remain far below the EUR44bn recorded at the end of 2006 or the EUR37.09bn of the end of 2007.
15/04/2013

Outflows continue at Man Group

P { margin-bottom: 0.08in; }A:link { } Man Group is continuing to bleed money, despite aggressive attempts to stem its outflows, revitalise its quantitative management activities, and reduce its costs, Financial Times Fund Management reports. In first quarter, the hedge fund firm posted net outflows estimated at USD3.6bn, the worst result since 2005, according to Peter Lenardos. In 2012, Man had outflows of more than USD7bn.
15/04/2013

Aberdeen's DEGI International distributes 10% of its assets

P { margin-bottom: 0.08in; }A:link { } On 25 April, Aberdeen Immobilien KAG announced, the open-ended real estate fund DEGI International (ISIN code: DE0008007998) will distribute EUR3.500 per share to its shareholders, which will represent a total of EUR125.9m, or nearly 10% of remaining assets of EUR1.277bn.Aberdeen states that, of this total of EUR3.500 per share, EUR1.7071 corresponds to dividends for 2012, and the remaining EUR1.7929 is a redistribution of assets. The asset management firm on 25 October 2011 decided to liquidate the fund by 15 October 2014. At the time, assets totalled EUR1.56bn.The next distribution will take place in October. Its amount will largely depend on the proceeds from sales of other assets.
15/04/2013

BlackRock prepares two emerging market debt funds

P { margin-bottom: 0.08in; }A:link { } On 17 April, BlackRock will officially announce the launch of the Emerging Market Corporate Bond Fund and Emerging Market Investment-Grade Bond fund sub-funds of its Luxembourg Sicav BlackRock Global Funds (BGF) in France and the rest of Europe, which the asset management firm is not yet able to confirm, but which has been reported by Fondsnieuws.The first of these products will invest at least 70% in emerging market investment grade corporate bonds.The funds are managed in London by a team led by Sergio Trigo Paz, who had been CIO for emerging markets at BNP Paribas Investment Partners.
15/04/2013

Hedge funds post inflows of USD11.4bn in February

P { margin-bottom: 0.08in; }A:link { } According to BarclayHedge and TrimTabs, the 3,434 hedge funds which had reported results up to the end of February had attracted a net USD11.4bn in February, or 0.6% of their assets, after inflows of USD4.3bn in January. However, their returns were only 0.4% in February, while the S&P 500 gained 1.1%. In the twelve months under review, the performance of hedge funds has been only 5.8%, at a time when the S&P 500 has gained 10.9%.On the basis of results for 1,360 funds as of the end of March, BarclayHedge estimates that hedge funds have posted average returns of 1.16% in March, bringing the total since the beginning of the year to 4%.Only three strategies showed losses last year: equity short bias (-3.20%, 5 funds), emerging markets (-0.49%, 219 funds), and tehnologies (-0.39%, 16 funds).The best performance was for the 24 biotechnology and healthcare funds (3.11%), the 21 Pacific Ri funds (2.83%) and the 169 equity long bias funds (2.24%).For first quarter as a whole, the strongest performance has been for Pacific Rim equities (8.81%), while the heaviest loss has been for equity short bias (-9.38%).
15/04/2013

EQT launches a new fund

P { margin-bottom: 0.08in; }A:link { } EQT, the largest private equity group in Sweden, supported by the Wallenberg family, is reorganising its investment teams, to launch a fund targeting small and mid-sized businesses in Northern Europe and Asia, the Financial Times reports. The new team, born of the merger of two teams, will be led by the deputy CEO and co-founder of EQT, Jan Stahlberg. The firm is hoping to raise about EUR1bn.
15/04/2013

European fund distributors revise strategy

P { margin-bottom: 0.08in; }A:link { } More than 80% of European fund distributors are planning to reorganise their internal processes in the next three years, in order to reduce their costs, according to a survey released by Cerulli Associates, Funds Europe reports. Consolidation of funds (61.9%) takes second place among measures considered by distributors, far ahead of staff reductions (28.6%). Without saying that they are planning to reduce their distribution contracts, 19% of the 100 asset management firms surveyed by Cerulli did say that they are planning to launch fewer funds, and 19% are considering lowering the commissions they charge to distributors.
15/04/2013

European retail investors remain confident in April

P { margin-bottom: 0.08in; }A:link { } The situation in Cyprus is not worrying retail investors in Europe. According to the most recent European survey by Binck of stock market invetors, since December 2012, the level of confidence of investors has been recovering, and in April 2013 totals 2.5. This is a stable rating compared with the previous month, when the index set a record at 2.6. The survey finds that 23 of investors are optimistic in April: 66% of respondents have a confidence level equal to or higher than 0 (neutral). Half of respondents say they are highly confident, with a level equal to or higher than +4, or 2.5 times more than at the end of 2012.
15/04/2013

New head of external management at AP3

P { margin-bottom: 0.08in; }A:link { } Claudia Stanghellini has been appointed as the new head of external management at the Swedish pension fund AP3, realtid.se reports. She succeeds Mattias Bylund, who has been appointed as director of risk, business support and controls.
15/04/2013

Money market funds and funds investing in Europe responsible for outflows in March

P { margin-bottom: 0.08in; }A:link { } French-registered funds posted outflows in March of EUR6.27bn. By asset class, according to statistics from Europerformance SIX Telekurs, net redemptions primarily affected treasury funds – with outflows of EUR4.18bn – and bond funds, from which redemptions totalled EUR1.149bn. Equity funds were no exception to the trend, but outflows were considerably lower. All equity categories as a whole lost EUR718.95m. For its part, the category of funds investing in convertible bonds posted net inflows of EUR3.04bn.
15/04/2013

Standard Life closes down six funds of funds

P { margin-bottom: 0.08in; } The British firm Standard Life Investments (SLI0 has decided to close six funds of funds due to insufficient interest on the part of investors for these vehicles, Investment Week reports. The six products concerned are: SLI European Equity Manager of Manager fund, SLI Japanese Equity Manager of Manager fund North American Equity Manager of Manager fund SLI Pacific Basin Equity Manager of Manager fund SLI UK Bond Manager of Manager fund SLI UK Equity Manager of Manager fund. These strategies were launched in February 2006. They were managed by the US firm Wilshire under an outsourcing agreement. They will be closed in May.
15/04/2013

Fidelity launches local currency EMD fund

P { margin-bottom: 0.08in; }A:link { } Steve Ellis and Eric Wong will be the managers of the new Emerging Market Local Currency Debt Fund, a sub-fund of the Luxembourg Sicav Fidelity Funds, the US asset management firm has announced in London. The portfolio will be invested primarily in government bonds denominated in local currencies from countries such as Russia, Mexico, South Africa, Turkey, Brazil, Poland, Indonesia and Thailand.The product brings the number of emerging market debt funds available from Fidelity to four, while Steve Ellis already manages USD1bn in emerging market mandates. He joined Fidelity Worldwide Investment as a portfolio manager in 2012, from Goldman Sachs Asset Management. Wong also joined Fidelity last year, from BlackRock.The benchmark for the new fund is the JP Morgan Global Bond Index – EM Global Diversified Index (JPM GBI – EM Global Diversified Index).The minimal subscription is set at USD2,500 or USD50 per month for A class shares, which carry a management commission of 1.20%, and of USD1m for the Y share class, which charges 0.60%.
15/04/2013

Marc Faber to advise strategy for one Canadian firm

P { margin-bottom: 0.08in; }A:link { } Marc Faber will advise the first multi-manager investment fund of a firm based in Toronto, Sprott Asset Management, Citywire reports. The fund, dedicated to institutional investors, will invest in eight in-house funds investing in various asset classes.
15/04/2013

OFI AM et La Française rapprochent leurs incubateurs

OFI AM et La Française sont entrés lundi en discussion exclusive pour étudier le rapprochement entre NewAlpha AM et Next AM. Ce mariage créerait le leader européen de l’incubation avec 31 lignes actives et 7,2 milliards d’euros d’actifs gérés par les sociétés incubées. Spécialiste de l’incubation pour compte de tiers, NewAlpha AM opère principalement dans l’univers des fonds alternatifs. De son côté, Next AM détient aujourd’hui un portefeuille d’une vingtaine de participations dans des sociétés de gestion et de conseil.
15/04/2013

Les investisseurs se ruent sur les «loans» aux Etats-Unis

Les fonds de prêts aux Etats-Unis ont enregistré une collecte hebdomadaire record à la date du 10 avril, à 1,5 milliard de dollars,indique la recherche crédit Bank of America Merrill Lynch sur la base de statistiques d’EPFR. Sur 2013, les fonds de loans enregistrent déjà une croissance de 23,5% de leurs actifs à 18 milliards. En comparaison, les fonds d’obligations high yield n’ont attiré que 62 millions, la compression des spreads poussant les investisseurs à se reporter vers des prêts, qui offrent en outre une couverture contre le risque de hausse des taux.
15/04/2013

La Suisse gèle les avoirs d'un ex-ministre grec corrompu

Les procureurs suisses ont gelé 10 millions de francs suisses (8 millions d’euros) d’avoirs liés à l’ancien ministre grec de la Défense Akis Tsohatzopoulos, condamné début mars à huit ans de prison pour corruption et fraude fiscale, et enquêtent pour déterminer si des intermédiaires établis en Suisse l’ont aidé à blanchir de l’argent.
15/04/2013

Ben Bernanke souligne la condition des plus défavorisés

«Même si l’emploi et le logement montrent des signes d’amélioration pour l’ensemble du pays, les conditions de vie des zones plus défavorisées restent difficiles à bien des égards», a déclaré le président de la Réserve fédérale américaine lors d’une conférence liée à un programme social de la Fed. «Il faut une coordination et un engagement conséquents pour casser les barrières (…), a-t-il ajouté.
15/04/2013

La troïka achève son examen des réformes en Grèce

Les inspecteurs de la troïka des bailleurs de fonds de la Grèce ont achevé leur évaluation des performances d’Athènes dans la mise en oeuvre des réformes qu’ils réclament, ouvrant la voie au déblocage d’une nouvelle tranche d’aide de 10 milliards d’euros, a rapporté samedi une source au fait des discussions citée par Reuters. Les derniers détails devaient être bouclés d’ici à ce lundi soir.
15/04/2013

Paris veut une ligne de swap de devises avec la Chine

La France veut mettre en place une ligne de swap de devises avec la Chine pour faire de Paris une importante place financière pour les transactions en yuan en Europe, en concurrence avec Londres, selon des propos du gouverneur de la Banque de France Christian Noyer rapportés par China Daily. Les dépôts bancaires en yuan à Paris s'élèvent à 10 milliards de yuans (1,2 milliard d’euros), ce qui place la capitale française au second rang en Europe, derrière Londres. Ce projet de ligne de swap de devises, sur le modèle de celles existants pour le dollar, l’euro ou le yen, serait le dernier en date d’une série d’accords bilatéraux signés par la Chine ces trois dernières années dans le but de promouvoir le commerce et l’investissement en yuan au niveau international. Christian Noyer a indiqué que Paris œuvrait au renforcement de sa position sur les marchés des obligations d’entreprises et des titres de dette négociable à court terme, ainsi que l’infrastructure associée, pour promouvoir l’usage du yuan.

Sujets d'actualité

Tous les sujets