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14/09/2012

Départ du patron de la gestion de Danske Capital

Le patron de la gestion de Danske Capital, Erik Kjellgren, a quitté la société après y avoir passé huit ans, révèle le site Internet suédois Realtid.se. Il gérait le fonds Danske Banks Sverige Fokus.
14/09/2012

First State ouvre un bureau en Allemagne

First State Investments International a annoncé jeudi l’ouverture d’un bureau de représentation à Francfort et le recrutement de David Gaschik en tant que responsable des ventes pour l’Allemagne.L’intéressé travaillait précédemment chez UBS Global Asset Management et UBS Wealth Management, en Allemagne, où il a occupé plusieurs postes, notamment celui de responsable de la distribution pour la gestion de patrimoine et de responsable clientèle banque privée. Au sein de First State, il est rattaché à Marc Bishop, directeur commercial Europe. First State est présent sur le marché allemand depuis 2001 et, aujourd’hui, ses fonds sont disponibles auprès de la plupart des grandes banques, indique un communiqué de presse. Parmi ses clients, la société australienne compte aussi des multi-gérants, des gérants de fonds de fonds, des family offices et des compagnies d’assurance.«Au cours des prochains mois, nous nous concentrerons sur le développement des relations avec nos clients en Allemagne et sur la prospection de nouveaux clients institutionnels, notamment en collaboration avec notre équipe dédiée à la dette des marchés émergents, dirigée par Helene Williamson et créée à l’automne 2011», commente Mark Lazberger, directeur général de First State Investments.L’ouverture de ce bureau à Francfort s’inscrit dans le cadre de sa stratégie d’expansion en Europe continentale de First State et fait suite à la création d’un bureau à Paris il y a quelques mois.
14/09/2012
Fonds

AmpegaGerling abaisse les frais pour un fonds monétaire

En réaction à la forte baisse des rémunérations sur le marché monétaire, AmpegaGerling Investment abaisse à compter du 1er octobre la commission de gestion du fonds monétaire Gerling Geldmarktfonds à 0,10 % contre 0,25 %, rapporte Fondsprofessionell.
Fonds
14/09/2012

Deka ne fusionnera pas avec LBB, mais…

Georg Fahrenschon, président de l’association allemande DSGV des caisses d’épargne et donc du conseil d’administration de DekaBank, a annoncé jeudi que l’audit du cabinet de consultants Roland Berger est très clair, rapporte le Handelsblatt. Il n’y aura pas de fusion complète de Deka, le gestionnaire central des caisses d’épargne, avec la Landesbank Berlin (LBB), un établissement qui appartient lui aussi aux caisses d’épargne: ce ne serait pas économiquement raisonnable.En revanche, il n’est pas question de se limiter à une simple coopération. Il y aura donc fusion, mais seulement dans certains domaines. La LBB est forte dans les relations avec les autres caisses d’épargne, l’immobilier et les activités de marché avec une offre importante de certificats. Il vient justement d’être décidé que Deka va se lancer dans les certificats…
14/09/2012

Deuxième départ chez Hauck & Aufhäuser

La banque privée Hauck & Aufhäuser (H&A) a confirmé à Das Investment que Thomas Damschen, co-directeur général de Hauck & Aufhäuser Finance Consulting, a quitté l’entreprise avec effet immédiat, mais les raisons de ce départ n’ont pas été divulguées.L’intéressé quitte H&A deux jours après l’annonce de la démission de Michael Schramm, associé-gérant, dont il était réputé très proche. Thomas Damschen était responsable des solutions d’investissement institutionalisées, de la planification financière, des finances et du contrôle de gestion.
14/09/2012
Fonds

Skagen lance un fonds sur l’immobilier coté

La société de gestion nordique Skagen Fonder lancera le 31 octobre Skagen m², un fonds investi dans des sociétés spécialisées dans l’immobilier et cotées dans le monde entier.Le fonds sera géré par Peter Almström, Michael Gobitschek et Harald Haukås. Son indice de référence est le ACWI Real Estate Net Return IMI.Depuis sa création en 1993, Skagen n’avait lancé que trois fonds actions.
Fonds
14/09/2012

Rob Leary to leave ING US

Rob Leary, CEO of ING US, will be leaving his job, Mutual Fund Wire reports, citing an internal memo of which the website has obtained a copy. The asset management firm will soon either hold an IPO or be sold, the article reports. Leary is not expected to be replaced. ING US will be restructuring its activities. The duties of the CEO will now be passed to Alain Karaoglan, the current executive vice chairman. He will also oversee Jeff Becker, head of Investment Management activities.
14/09/2012

Dexia and Pictet post inflows in Italy

In second quarter 2012, Dexia posted the largest net inflows in Italy, according to a quarterly report published by the Italian asset management association Assogestioni. The asset management firm, which will soon be sold, has posted EUR1.6bn in inflows between April and June, of which EUR1.59bn went to open-ended funds. In second place is another foreign group, Pictet, which has taken on EUR926m (entirely to open-ended funds). Third place goes to Poste Italiani, with EUR733m. These are followed by three foreign groups: Amundi (EUR722m), Franklin Templeton Invesments (EUR534m) and Axa (EUR419m).
14/09/2012

First State opens office in Germany

First State Investments International on Thursday announced that it is opening an office in Frankfurt, and recruiting David Gaschik as head of sales for Germany.Gaschik previously worked at UBS Global Asset Management and UBS Wealth Management, in Germany, where he held several positions, including head of distribution for wealth management and head of private banking clients.At First State, he will report to Marc Bishop, head of sales for Europe.First State has been present on the German market since 2001, and its funds are now available via most major banks, a press statement says. Among its clients, the Australian firm counts multi-managers, managers of funds of funds, family offices and insurers.“In the next few months, we will be focusing on developing relationships with our clients in Germany, and prospecting for new institutional clients, in collaboration with our team dedicated to emerging market debt, led by Helene Williamson, founded in autumn 2011,” says Mark Lazberger, CEO of First State Investments.The opening of the office in Frankfurt comes as part of an expansion strategy in continental Europe by First State, and follows the opening of an office in Paris a few months ago.
14/09/2012

Nine shares replaced in ASPI Eurozone index

Nine shares will be joining the ASPI Eurozone index, including shares in 120 publicly-traded firms with top ratings in the euro zone from Vigeo for the environment, human rights, human resources, social engagement, behaviour on the markets and corporate governance. They are Fiat, Aegon, Sor, Belgacomm, Foncière des Régions, Eurazeo, Biomérieux, ArcelorMittal and Enel Green Power. At the same time, eight shares will be leaving the index: Commerzbank, Crédit Agricole, OMV, Metro, ETS Colruyt, Lufthansa, Pirelli & C and Dassault Systems. In addition, TF1, which will be removed from the universe of the Euro STOXXSM benchmark index, will also leave the index. The changes in the composition of the index will be applied after the end of trading on Friday, 21 September 2012, and will take effect from the start of the following trading day, Vigeo states.
14/09/2012

Irish asset management continues international drive

The Irish Funds Industry Association (IFIA) will open representative offices in Shanghai, Frankfurt and Sydney, bringing the number of branch offices worldwide to ten, the professional association announced at its annual conference on 13 September.The association began its international offensive last year, with the opening of offices in the United States, in Atlanta, New York and Chicago, and in Europe and London. Since then, the IFIA has opened offices in Singapore, Tokyo and Hong Kong.According to the CEO of the association, Pat Lardner, “this all demonstrates the IFIA’s commitment to being present on all the major growth markets, in order to better promote Ireland as the ideal jurisdiction for investment funds distributed internationally. We would like to be available to assist asset managers to find the solutions, products and expertise that Ireland can offer in a constantly-changing international regulatory environment.”In other words, the asset management sector in Ireland clearly wishes to defend and strengthen its position in relation to continental European competition, and particularly in response to activism on the Luxembourg market, which has a strong presence on all major markets worldwide.
14/09/2012

Ashmore builds Chinese joint venture

The British firm Ashomre Investment Management is launching a joint venture with China Central Securities, following a decision by Aviva Investors to end a joint venture with China Central, leaving the way open for other investors, Asian Investor reports. The new firm, entitled Ashmore-CCSC Fund Management Company, will be based in Shanghai. The financial details of the operation have not been disclosed. Ashmore obtained the status of qualified foreign institutional investor in 2009, and opened an office in Beijing in 2010. According to the consulting firm Z-Ben Advisors, Ashmore’s move appears risky, particularly in light of Aviva’s decision to pull out after five years. It is difficult to develop on the retail market in China, to the extent that Aviva appears to have prioritized the development of its activities on the Chinese institutional market, which would at least partly explain its decision.
14/09/2012

Head of investments leaves Danske Capital

The head of investments at Danske Capital, Erik Kjellgren, has left the firm after eight years there, the Swedish website Realtid.se reports. He had been manager of the Danske Banks Sverige Focus fund.
14/09/2012

Franklin Templeton France appoints an account manager

Franklin Templeton France on 13 September announced the appointment of Jérémy Silvera, who becomes an account manager in the sales team, serving entrepreneurial asset management firms, private banks and wealth management firms in the southern and western parts of France and Paris. Silvera, 27, holds a Master 2 Trading & Asset Management degree from ESLSCA. He has served in internships at Crédit Agricole CIB, in sales of fixed income structured products, and Edmond de Rothschild Asset Management, in sales of funds to institutional clients in France. Silvera joined the Franklin Templeton group in January 2011 as sales support.
14/09/2012

Robert Higginbotham takes charge of institutional services at T. Rowe Price

T. Rowe Price has recruited Robert Higginbotham has head of international services to insitutionals, Investment Europe reports. He will be responsible for development of all services to institutional investors outside the United States. He will be based in London, and will begin in October. He previously worked at Fidelity Worldwide, where he served as chief executive for Europe, the Middle East and Africa.
14/09/2012

iShares launches frontier markets ETF

The iShares MSCI Frontier 100 Index Fund ETF (acronym on NYSE Arca: FM), founded on 12 September with more than USD11m in seed capital, was admitted to trading on 13 September. iShares says it is the first ETF replicating the MSCI Frontier Markets index to be made available on the US market.Currently, the index includes shares from the following countries: Argentina, Bangladesh, Croatia, Estonia, Jordan, Kazakhstan, Kenya, Kuwait, Lebanon, Mauritius, Nigeria, Oman, Pakistan, Qatar, Romania, Serbia, Sri Lanka, Ukraine, the United Arab Emirates, and Vietnam.The fund charges fees of 0.79%.
14/09/2012

Matteo Perruccio leaves Hermes

Matteo Dante Perruccio has resigned from his position as CEO of Hermes BPK Partners, the fund of hedge fund firm 60% owned by Hermes Fund Managers, Financial News reports.
14/09/2012

M&G Investments appoints a head

The British asset management firm M&G Investments has appointed David Halfacre as head of development for partnerships, Fund Web reports. He previously worked at JPMorgan Asset Management, where he was vice president, in charge of development for strategic partnerships.
14/09/2012

Invesco recruits three SLI managers

In order to train a multi-asset class management team in Henley, near London, as a complement to the global team in Atlanta, Invesco Perpetual has recruited three managers from Standard Life Investments (SLI), Fundweb reports. They are David Millar, who had been investment director, multi-asset investing at SLI, Dave Jubb, who had been investment director, tactical asset allocation, and Richard Batty, who had been investment director, global investment strategist.To rebuild its multi-asset class team, SLI is transferring Ian Pizer, a member of the government bonds team, who will continue to manage the ARGBS government bond fund, while generating ideas for the Global Absolute Return Strategies fund (GBP12bn). He will report to Guy Stern, head of multi-asset fund management.Roger Sadewsky, co-manager of ARGBS, will continue to manage the fund, but will also join the strategic investment group. Neil Richardson will take charge of equity strategies in absolute return portfolios.Lance Philips, investment director for global equities, will be leaving SLI, and will be replaced by Steve Weeple, who will report to David Cumming, head of equities.
14/09/2012

Two new members appointed to board of IMA

At its annual general conference on 12 September, the British Investment Management Association (IMA) appointed four new members to its board. They are Hugh Mullan, UK Managing Director at Fidelity Worldwide Investment, Mark Zinkula, chief executive officer at Legal & General Investment Management, Andrew Formic, chief executive at Henderson Global Investors, and Andrew Laing, deputy chief executive at Aberdeen Asset Management. Three members have left the board: Helena Morrissey, chief executive officer at Newton Asset Management, Alain Dromer, former CEO of Aviva Investors, and Bill Smith, chief executive officer at Lazard Asset Management.
14/09/2012

BNY Mellon transfers Pareto to Insight

For an undisclosed amount, Pareto Investment Management Ltd (GBP27bn in assets) will be acquired by Insight Invesmtent Management Ltd (GBP182bn). The two asset management firms are affiliates of BNY Mellon. The transaction is expected to be completed by 1 January 2013, pending approval by the regulator.Pareto is specialised in active and passive management of currency risks, and operates in the United Kingdom, the United States, Japan and Australia.
14/09/2012

Liontrust recruits for team dedicated to European equities

Liontrust Asset Management has recruited Samantha Gleave as an addition to its team dedicated to European equities, Investment Week reports. She joins the team as a manager, and will work with James Inglis-Jones and Gary West, with whom she previously worked in the 1990s at Fleming Investment Management. Gleave joins from Bank of America Merrill Lynch, where as an analysts, she covered European equities for seven years, particularly industrials.
14/09/2012

SAUL and LGIM extend partnership in LDI

The Superannuation Arrangements of the University of London (SAUL), the pension fund for the University of London, has announced that it has extended its partnership with Legal & General Investment Management (LGIM). The asset management firm will continue to provide the fund with liability-driven investment (LDI) services, a statement says. The two firms have been working together since 2001.
14/09/2012

SEC investigates meeting of Henry Paulson with hedge funds

The Securities and Exchange Commission is investigating potential insider trading on the part of participants in a private meeting held in July 2008 with Henry Paulson, who was then Secretary of the Treasury, the Wall Street Journal reports, citing sources familiar with the matter.The investigation covers the use of insider information, as Paulson is said to have mentioned an intervention to support Fannie Mae and Freddie Mac. The regulator has sent subpoenas to hedge funds (including Lone Pine Capital and Och-Ziff Capital Management), and to other firms which were represented at the meeting.
14/09/2012

AmpegaGerling cuts fees for a money market fund

In reaction to a steep fall in returns on money markets, ApegaGerling Investment is reducing management commissions from 1 October for the money market fund Gerling Geldmarktfonds to 0.10%, from 0.25% previously, Fondsprofessionell reports.
14/09/2012

AmpegaGerling cuts fees for a money market fund

In reaction to a steep fall in returns on money markets, ApegaGerling Investment is reducing management commissions from 1 October for the money market fund Gerling Geldmarktfonds to 0.10%, from 0.25% previously, Fondsprofessionell reports.
14/09/2012

Transfer at JP Morgan in Belgium

In a letter to clients, JP Morgan Asset Management Benelux has announced that Arnaud van der Elst is leaving his position in senior sales for Belgium & Luxembourg to become director of development at JP Morgan Private Banking in Belgium, on 1 October. Nicolas Deblauwe, country head Benelux, and Tom Vermeulen, senior sales, will handle his former responsibilities in the interim until he can be replaced.
14/09/2012

Aviva rationalises its retirement product range

Aviva will be closing four of its products to new investors, as it estimates that they are redundant alongside the firm’s retirement product range, Investment Week reports.The products concerned are self-invested personal pensions (SIPP), and the Income Drawdown, Your Pension Protector and Crystallised Pension Plan programmes. All of these products will be closed on 23 November this year. But Aviva’s decision does not affect existing clients, who will have access to the same functionality for all products after that date.
14/09/2012

Skandia IS loses money due to RDR

The Skandia Investment Solutions platorm (GBP34.2bn in assets under management) has posted a loss of GBP11.4m in 2011, due to the costs of preparing for compliance with Retail Distribution Review (RDR) regulations, Investment Week reports. Losses in 2010 totalled GBP15m.
14/09/2012

Lyxor to launch physical ETFs by year's end

Lyxor Asset Management (“Lyxor”) on 13 September has announced the launch of a range of physical replication ETFs by the end of 2012, beginning with ETFs based on bond indices. The move may be interpreted as a change in Lyxor’s strategy, which has always privileged synthetic replication, and which was defended tooth and nail throughout the controversy that raged over replication techniques last year. During that sometimes passionate debate, Lyxor defended synthetic replication, while Anglo-American firms such as BlackRock held by physical replication. The debate appears to be over now, but it may have driven some parties to reconsider their positions. At any rate, Lyxor does not hesitate to suggest that its product range deserved some revision. “In order to fully satisfy investor demand, Lyxor has decided to develop this approach, in order to offer its clients ‘the best of both worlds’ in the ETF universe,” Lyxor says in a statement. Regardless of the type of replication proposed, Lyxor ETFs will retain the same level of quality in terms of transparency, effectiveness (low tracking error) and liquidity, Lyxor says.

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