Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
03/04/2013

Skandia créé une société de gestion en Suède

Skandia en Suède vient de créer une société de gestion appelée Skandia Investment Management qui reprend la gestion interne des portefeuilles d’assurance vie, soit plus de la moitié des encours de la compagnie d’assurance vie, pour environ 300 milliards de couronnes suédoises, rapporte Fondbranschen. Lars-Göran Orrevall a été nommé directeur général de la nouvelle structure.
03/04/2013

JP Morgan veut accélérer le développement de sa banque privée en Suisse

Finews revient sur les projets de JP Morgan pour sa banque privée en Suisse. Arrivé à l'été 2012, Pascal Ravery veut aujourd’hui donner un coup d’accélération à l’activité, notamment dans les régions germanophones de la Confédération. Une équipe dédiée a vu le jour, sous la direction de Heinrich Lammer. Cette équipe locale pourrait être amenée à croître, selon Pascal Ravery. En Suisse, JP Morgan emploie 1.000 personnes et gère 90 milliards de francs suisses. Les avoirs des clients suisses ont connu l’an dernier une croissance de 25 %.
03/04/2013

Banque Cramer confie un mandat à Vontobel

Le service B-Source Banking Hub lancé en novembre vient d’obtenir son premier mandat d’un client bancaire suisse de la part du genevois Banque Cramer & Cie SA, qui lui a confié ses opérations de négoce de valeurs mobilières et de conservation à l'échelon mondial, annonce Vontobel. Cette optimisation de la chaîne de valeur permettra à la Banque Cramer de se concentrer sur la prestation de services de gestion de fortune et de conseil en investissement au profit de ses clients.
03/04/2013

Operating profits up for asset management firms

P { margin-bottom: 0.08in; } In fourth quarter 2012, the average operating profits for the 17 asset management firms monitored by kasina rose by 225 basis points compared with third quarter, to 31.2%. However, seven of these asset management firms posted a decline of at least 50 basis points.According to the study, profits for asset management firms increased as assets rose and operating costs continued to fall, particularly in the area of compensation. In addition, this general increase in assets is largely due to market appreciation, at a time when more than half of asset management firms surveyed reported net outflows in October-December, in general (56%) and for mutual fund and ETF activities (64%).Among asset management firms which show considerably better results in fourth quarter, kasina cites AllianceBernstein and Cohen & Steers. Of the four “wirehouse” distributors, three posted an increase in their operating profits as well as to their net profits, with increases of 313 basis points compared with July-September, to 19.1%, and 260 basis points, to 13.8%, for net profits.kasina points out that, due to rising earnings per employee and a decline in compensation, operating and net profits at Morgan Stanley Wealth Management increased by 17%.
03/04/2013

Schroders completes acquisition of STW

P { margin-bottom: 0.08in; } In a statement to investors dated 2 April, the British firm Schroders has announced that its US affiliate Schroders US Holdings Inc has now completed its acquisition of the bond management firm STW Fixed Income Management (USD11.6bn in assets as of the end of December).The deal was announced three and a half months ago (see Newsmanagers of 18 December).
03/04/2013

Top management reshuffle at Legg Mason

Joseph A. Sullivan, Legg Mason’s newly-appointed president and chief executive officer, on 2 April announced the composition of the group’s new executive leadership team. Thomas P. Lenke, general counsel and head of governance, will be leaving the group, as is Ronald R. Dewhurst, head of global investment managers, who had been one of two internal candidates for the CEO role.Pete Nachtwey is confirmed as chief financial officer (CFO). He joined Legg Mason in 2011 from Carlyle Group, where he had been CFO. He will be responsible for finances, treasury, investor relations and global corporate communications.Terry Johnson, a veteran of Citigroup Asset Mangement, who joined Legg Mason in 2005, is promoted to head of global distribution, after serving in this position in the interim since October 2012. He had previously been head of international distribution.Thomas Merchand is promoted to general counsel. He had previously been corporate general counsel. He remains corporate secretary, responsible for the legal and compliance divisions.Legg Mason is also in the process of hiring an executive to lead an expanded Business and Product Development function. This person will be responsible for the Batterymarch, Brandywine Global, ClearBridge Inestments, Legg Mason Capital Managment, Legg Mason Global Equities Group, Permal, Royce & Associates and Western Asset Management brands.The United States and international product teams, the Legg Mason Global Asset Allocation platform and merger and acquisition activities will continue to be overseen by Jeff Nattans.As of the end of February, Legg Mason had assets under management of USD661bn.
03/04/2013

Omega Advisors earns returns of 9% in first quarter

P { margin-bottom: 0.08in; } The alternative management firm Omega Advisors in first quarter earned returns of 9%, following a highly satisfactory year in 2012, according to Institutional Investor. Last year, the asset management firm posted returns of 28%. Leon Cooperman, founder of the hedge fund, says he is still optimistic about US equities. The firm has USD7.7bn in assets under management.
03/04/2013

MPL plans to recruit in Asia

P { margin-bottom: 0.08in; } The alternative management boutique Managing Partners Limited (MPL) has appointed Benjamin Lim as head of development for activities in Asia, Wealthadviser reports. Lim will be based in Singapore, and will report directly to Jeremy Leach, managing director of MPL. MPL is registered in the Cayman Islands, and has offices in Europe and Asia. Lim was previously chief marketing officer for Allianz Global Investors in Asia.
03/04/2013

USAA plans to offer actively-managed ETFs

P { margin-bottom: 0.08in; } USAA, the financial services firm created for US armed forces and State department personnel and families, has filed an application with the SEC for permission to sell actively-managed ETFs, IndexUniverse reports. The application is for 13 funds, several of which are dedicated to fixed income, but also including strategies that are currently highly popular, such as high-dividend equities and natural resources. USAA, which offers a range of in-house products including mutual funds, insurance policies and annuity contracts, becomes the most recent in a long series of firms which have sought to launch ETFs on the market at some time.
03/04/2013

Sharp rise in external assets at MEAG

P { margin-bottom: 0.08in; } Robert Helm, head of distribution and a managing board member at MEAG, has said that gross subscriptions from outside the Munich Re/Ergo group for the first time topped EUR1bn in 2012, the Börsen-Zeitung reports. Assets under management for third parties come to only EUR10.3bn, out of a total of EUR238bn.
03/04/2013

Skandia founds an asset management firm in Sweden

P { margin-bottom: 0.08in; } Skandia has founded an asset management firm in Sweden, entitled Skandia Investment Management, which will be responsible for internal management of life insurance portfolios, which account for more than half of all assets at the life insurer, totalling about SEK300bn, Fondbranschen reports. Lars-Göran Orrevall has been appointed as CEO of the new firm.
03/04/2013

JP Morgan to accelerate development of its private bank in Switzerland

P { margin-bottom: 0.08in; } Finews reports on JP Morgan’s plans for its private bank in Switzerland. Pascal Ravery, who joined the firm in summer 2012, will now accelerate the activity, particularly in the German-speaking regions of the country. A dedicated team has been created, led by Heinrich Lammer. This local team is expected to grow, says Ravery. In Switzerland, JP Morgan has 1,000 employees, and manages CHF90bn in assets. The assets of Swiss clients last year increased by 25%.
03/04/2013

Cramer Bank awards a mandate to Vontobel

P { margin-bottom: 0.08in; } The B-Source Banking Hub service, launched in November, has received its first mandate from a Swiss banking client, the Geneva-based Banque Cramer & Cie SA, which has retained it for its securities trading and custodial operations worldwide, Vontobel has announced. This optimisation of the value chain will allow Banque Cramer to concentrate on the provision of wealth management and investment advisory services to its clients.
03/04/2013

Barclays executive joins a hedge fund

P { margin-bottom: 0.08in; } The head of prime brokerage operations at Barclays, Ajay Nagpal, has left the bank to join Millennium, the USD18bn hedge fund managed by Israel “Izzy” Englander, the Financial Times reports, citing sources familiar with the matter. He will begin in July as chief operating officer.
03/04/2013

More hedge funds in Hong Kong, but with less money

P { margin-bottom: 0.08in; } The number of hedge funds based in Hong Kong as of the end of September was 676, the highest ever, according to statistics released by the Securities and Exchange Commission. The population of hedge funds is up 26% compared with 2010. However, assets under management as of the end of September totalled USD87.1bn, down from a peak of USD90bn in March 2008. Hedge funds with USD100m or less now represent 60% of all assets in the sector, compared with 57.4% in 2010. The number of mid-sized funds, with total assets of USD100m to USD500m, fell meanwhile to 26.7% from 29.5% previously. The largest contributors to Hong Kong hedge funds are the United States, which account fro 42.6% of assets, and Europe, with 18.6%.
03/04/2013

ACPI IM plans to develop in South Africa

P { margin-bottom: 0.08in; } The London-based asset management firm ACPI Investment Managers has announced plans to increase its international presence, particularly on the South African market, Citywire reports. The firm has recruited two senior consultants, Colin Clark and Howard Walker, who will oversee development and recruitment of new employees.
03/04/2013

City Financial acquires OPM Fund Management

P { margin-bottom: 0.08in; } The City Financial group has acquired the asset management firm OPM Fund Management for an undisclosed sum. City Financial is continuing its growth stratgy, following the integration of its multi-asset class range in January this year, and the acquisition last October of the asset management activities of Eden Financial. City Financial will take over a range of funds with GBP75.2m in assets under management. As part of the acquisition, Tony Yousefian is joining City Financial, where he will continue to manage the EFA OPM Fixed Interest fund, and will become responsible for the management of the EFA OPM Property fund.
03/04/2013

Baring AM completes acquisition of Korean asset manager

P { margin-bottom: 0.08in; } Baring Asset Management (Barings) on 2 April announced that it has completed its acquisition of the Korean asset management firm SEI Asset Korea Ltd (SEIAK), announced last summer (see Newsmanagers of 2 August 2012). SEIAK from 28 March became Baring Asset Management Korea Limited.The acquisition considerably strengthens the presence of Barings in Korea. It is also a sign of Barings’ strong commitment to Asia, as Korea is the third-largest market in the region for asset management. The deal increases overall on-site assets at Barings to about USD7.4bn as of 28 February 2013.
03/04/2013

George Soros recruits former FSA chief

P { margin-bottom: 0.08in; } Lord Turner, who on 1 April ceased to serve as head of the Financial Services Authority (FSA), which itself ceased to exist on that date and is now supplanted by two distinct bodies, will be going to work for George Soros, the Sunday Times reports.The former head of the FSA on 1 April joined the Institute for New Economic Thinking (INET), a think tank owned by Soros. Lord Turner’s activities at the institute will be unpaid, the newspaper states.
03/04/2013

Falcon Private Bank closes acquisition of Clariden Leu Europe

P { margin-bottom: 0.08in; } As of 31 March, Falcon Private Bank Ltd concluded its acquisition of Clariden Leu (Europe) Ltd, which will become known as Falcon Private Wealth Ltd, headquartered in the Knightsbridge / London (see Newsmanagers of 5 October, 20120. The new firm will be subject to the British regulatory authority.Falcon Private Bank is owned by aabar Investments PJS.
03/04/2013

Net outflows from European equity ETFs in March

P { margin-bottom: 0.08in; } After USD5.1bn in net subscriptions in October-December 2012, European equity ETFs in January-March 2013 attracted only USD0.2bn, due to net outflows of USD2.3bn in March, the Frankfurter Allgemeine Zeitung reports, citing BlackRock.
03/04/2013

Credit Suisse LAB hedge fund index up 1.22%

P { margin-bottom: 0.08in; } The Credit Suisse Liquid Alternative Beta (LAB) index of the hedge fund sector in March gained 1.22%, according to statistics released on 2 April. In the first three months of the year, the index has gained 2.17%. Merger and acquisition arbitrage was the best strategy in the month under review, with gains of 2.34%, bringing its returns in the first three months of the year to 4.69%. Managed futures strategies gained 1.46% for the month, and have gained 3.79% since the beginning of the year.
03/04/2013

Record inflows to ETFs in January-March

P { margin-bottom: 0.08in; } In the first three months of this year, ETFs worldwide posted net inflows of USD70.1bn, USD4.6bn more than the previous record, set in January-March 2012, initial estimates by the BlackRock Institute indicate.Equity ETFs received net subscriptions of USD65.1bn while fixed income products posted net inflows of USD11.6bn. In the same period, gold ETFs saw net redemptions of USD9.2bn.After USD5.1bn in net subscriptions in October-December 2012, European equity ETFs in January-March 2013 attracted only USD0.2bn, due to net outflows of USD2.3bn in March.
03/04/2013

Ivy Funds launches two global real estate funds

P { margin-bottom: 0.08in; } Ivy Funds on 1 April announced the launch of two global real estate funds, Ivy Global Real Estate Fund and Ivy Global Risk-Managed Real Estate Fund, which will invest primarily in shares in global realty firms, including real estate investment trusts (REITs) and real estate operating companies (REOC). The first fund is expected to maintain a risk profile equivalent to that of the global real estate market, while the second will aim for a lower risk profile than the first. Last year, inflows to open-ended real estate funds virtually doubled compared with the previous year, to USD15bn, and in the first two months of 2013, subscriptions totalled USD6.5bn, higher than inflows in all of 2010, according to statistics from Simfunds.
03/04/2013

Financial sector employees will have to pass integrity tests

P { margin-bottom: 0.08in; } All candidates for employment in the financial sector the United Kingdom will be required to pass tests to evaluate their honesty, the Chartered Institute for Securities & Investment (CISI), an organisation of professionals active in wealth management and financial markets, announced on 2 April. Previously, only professionals who provide financial advice, or who are active in wealth and retail management, were required to pass tests of this type. Those who work in trading, mergers and acquisitions or derivative markets were not required to take them. The tests in question, introduced in late 2008, offer six test cases based on real situations. Out of 40,000 members of the CISI, only 7,300 at the most have taken the test. “In the past few years, there have been a lot of discussions about initiatives that can be taken to restore trust in financial services. … Today we are introducing a real change,” the director general of the CISI, Simon Culhane, has declared in a statement. The organisation is launching its first ever publicity campaign to support its effort to alter perceptions by the general public of a sector that has been severely tarnished by the financial crisis and repeated scandals.
03/04/2013

Jérôme Cahuzac n'a bénéficié d'aucune protection, affirme François Hollande

François Hollande a assuré que Jérôme Cahuzac, qui «a trompé les plus hautes autorités du pays», n’avait bénéficié d’aucune protection des autorités françaises et que toute la lumière serait faite sur ses malversations. S’exprimant lors d’une brève intervention télévisée, le chef de l’Etat a annoncé ou confirmé trois mesures à la suite des aveux de l’ex-ministre du Budget sur la détention d’un compte à l'étranger : le renforcement de l’indépendance de la justice, une lutte «impitoyable» contre les conflits entre intérêts privés et publics, l’interdiction de tout mandat public pour les élus condamnés pénalement pour fraude fiscale ou corruption.
03/04/2013

UnionBanCal cède son activité de fonds ouverts

Reuters croit savoir que le groupe basé à San Francisco a mis sur le marché son activité de mutual funds dénommée HighMark Funds. UnionBanCal estime que cette activité n’est plus de nature stratégique. Les vingt-quatre fonds logés au sein de HighMark disposent d’environ 8 milliards de dollars d’actifs, selon Lipper.
03/04/2013

Hausse du secteur des services en Chine

L’économie chinoise montre des signes croissants d’accélération et de rééquilibrage de sa croissance, avec une hausse de l’indice PMI officiel du secteur non manufacturier à 55,6 points au mois de mars, après 54,5 en février. Le même indice calculé par HSBC a également montré des signes d’accélération de l’activité dans le secteur des services, avec une hausse à 54,3 points en mars, après 52,1 en février.

Sujets d'actualité

Tous les sujets