Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
02/05/2012

Deutsche Bank to act as market maker for UBS ETFs

As a part of its multi-market maker approach, UBS Global Asset Management has selected Deutsche Bank as its “strategic” market maker for its ETFs, alongside Commerzbank, and the investment banking business unit of UBS. The agreement was announced on 26 April.
02/05/2012

Asset management firms recruit for institutional sales

Asset management firms are adding to their sales and marketing teams dedicated to institutional investors, Financial News reports. According to Paul Battye, director of Moorlands Human Capital, cited by the newspaper, in institutional sales, there has been a 25% rebound in the number of mandates awarded in first quarter, compared with the corresponding period of last year.
02/05/2012

Profits down at Santander AM

In first quarter 2012, net profits at Santander Asset management fell 6.6% compared with January-March 2011, to a total of EUR17m, of which EUR14m were for investment funds, and EUR3m for pension funds, Funds People reports.As of 31 March, assets were up 3% compared with the end of December, to EUR143.7bn, due to market effects and the awarding of new institutional mandates, including one in Germany for corporate bonds. Of this total, investment and pension funds represented EUR115bn, while institutional mandates and separate accounts totalled EUR7.7bn, and the remaining EUR20.3bn were managed for other entities of the group.Spain is only the second-largest market for Santander AM, with assets of EUR36bn (-8% compared with the end of March 2011), after Brazil (EUR49bn, +3%). The UK, for its part, accounts for EUR23bn, and Mexico, EUR10.5bn.
02/05/2012

Times are tough for Artio Global Investors

Artio Global Investors made its initial public offering in September 2009, raising USD650m. Since then, the asset management firm owned by Julius Baer has seen tough times, the Wall Street Journal reports. Assets under management have fallen 48% in first quarter to USD26.6bn, compared with the previous year, particularly under the effect of client net redemptions. Since its IPO, the decline has totalled 52%. Its two flagship funds, two of them international equity products, underperformed in 2011.
02/05/2012

Profits contract at Legg Mason

In the fiscal year ending on 31 March, Legg Mason, Inc has earned net profits of USD220.8m, compared with USD253.9m in 2010-2011, but Mark Fetting, chairman and CEO, says that the asset management firm has now completed its streamlining program, with annual savings of USD140m on its costs, and a redistribtion to shareholders of USD440m in the form of share repurchases and dividends.As of the end of March, assets totalled USD643.3bn, compared with USD627bn as of the end of December, as positive market effects (USD24.4bn) were partially offset by net redemptions of USD4.9bn, and dispositions totalling USD3.2bn. Compared with the end of March 2011, when they totalled USD677.6bn, assets under management are down by 5%.Legg Mason states that total assets consisted 55% of bonds, 26% of equities and 19% of liquidity as of 31 March. 63% of assets under management came from the United States.
02/05/2012

Lion Capital fund in exclusive talks to acquire Afflelou

The British fund Lion Capital is in excclusive negotiations to acquire the stakes held by the two largest external shareholders in the French optics group Afflelou, with a view to acquiring the group, according to a joint statement released on Monday evening. The capital in Afflelou is currently 57.05% controlled by the investment fund Bridgepoint, 20.14% by the Apax fund, and 21.97% by the holding company of the family of the founder, Alain Afflelou. In February, Bridgepoint and Apax announced that they were putting their stakes up for sale. According to the financial newspaper Financial Times, citing sources familiar with the matter, the transaction is expected to proceed on the basis of a valuation of Afflelou at EUR780m.
02/05/2012

Morgan Stanley launches a responsible investment platform

Morgan Stanley Smith Barney has announced the launch of its “Investing with Impact” responsible investment platform. The platform allows retail investors and their advisers to select their investments on the basis of environmental and social criteria. MSSB has about 4 million clients, with over USD1.7trn in financial assets, a statement says.
02/05/2012

City National Bank acquires Rochdale Investment Management

City National Bank has announced that it has signed an agreement to acquire the asset management firm Rochdale Investment Management (USD4.8bn in assets). Rochdale will merge with City National Asset Management to create a entity with over USD18bn in assets, to be known as City National Rochdale Investment Management.
02/05/2012

UBS wealth management rebounds strongly in first quarter

UBS has announced first quarter adjusted pre-tax profit of CHF2.2bn, with “improved profits in all business divisions,” according to a statement released on 2 May. Net profits totalled CHF827m, compared with CHF1.8bn one year previously. Performance nonetheless showed a net improvement compared with fourth quarter 2011, when they totalled CHF319m.Net inflows to wealth management activities totalled CHF11.3bn. Assets under management as of 31 March totalled CHF2.115bn, compared with CHF2.088bn as of the end of December 2011.In the Wealth Management unit, which earned profits up 70% at CHF803m, net new money more than doubled to CHF 6.7 billion on strong inflows in Asia Pacific, emerging markets and Switzerland, as well as globally from ultra high net worth clients, the bank states. Assets invested totalled CHF772bn as of 31 March 2012, up by CHF22bn compared with 31 December 2011, due to net inflows and rising stock markets.Wealth Management Americas record pre-tax profit up 34% to USD 209 million; cost/income ratio improved further to 87%; net new money more than doubled to USD 4.6 billionPre-tax profits in Global Asset Management in first quarter 2012 totalled CHF156m, compard with CHF118m in fourth quarter 2011. Excluding flows related to money market investments, net outflows from third-party funds totalled CHF2.9bn, compared with inflows of CHF0.3bn in the previous quarter, as a large number of institutional clients reduced or cancelled their mandates as part of portfolio realignments. Excluding flows related to money market investments, inflows of new money from wealth management clients totalled CHF0.3bn, compared with outflows of CHF0.8bn in fourth quarter.
02/05/2012

Changes on the board of directors at Piguet Galland & Cie SA

Piguet Galland & Cie SA, an affiliate of the Banque Cantonale Vaudoise (BCV),will have a new chairman of its board of directors, in the person of Gérard Haeberli, BCV announced in a statement on 1 May. Haeberli will succeed Olivier Steimer, who has served in the position for three years alongside his role as chairman of the board of directors of the BCV group, which he will retain. The group recently announced the appointment of Olivier Callaud as CEO of Piguet Galland, and the establishment of a new development strategy for the activities of the affiliate in French-speaking Switzerland. In these circumstances, Steimer felt that his term, which expires on 25 May this year, was complete. The board of directors at Piguet Galland will thus propose to a general shareholders’ meeting to be held on the same date to elect Haeberli as chairman of the board.
02/05/2012

China's most famous fund manager leaves China AMC

The most famous Chinese portfolio manager in the world, Wang Yawei, has left the largest asset management firm in the country, China AMC, Asian Investor reports, adding that the reports were confirmed by a director of the firm. Wang resigned from his position. The local media are speculating as to his future destination, which may be abroad. Wang, who spent 14 years at China AMC, built a name for himself as manager of the China AMC Large-Cap Select Fund, which has earned returns since its launch in 2004 of 1,176%, as of 27 April 2012.
02/05/2012

Franklin Templeton holds over 10% of Hungarian debt

The star bond manager at Franklin Templeton, Michael Hasenstab, has increased the exposure of the Templeton Global Bond Fund (USD60bn in assets) to Hungarian government debt, Funds People reports. The US asset management firm now holds over 10% of Hungarian debt in the Global Bond Fund and the Templeton Emerging Markets Bond fund, with 5.99% and 6% of assets, respectively. Since the beginning of the year, Hungarian government bonds have generated returns of 12% in US dollars.Hasenstab remains favourable to Hungarian debt, which enjoys good long-term fundamentals and a negative attitude on the part of many investors.
02/05/2012

Opération séduction périlleuse pour Carlyle

La société américaine de private equity devrait faire demain matin ses premiers pas en Bourse. Si tout va bien. Le quotidien souligne en effet que nombre d’investisseurs manquent d’enthousiasme. Carlyle tente de les convaincre qu’elle est différente de ses concurrents dont le parcours boursier s’avère chaotique. Le nouveau venu sur le marché évoque particulièrement l’intérêt d’une détention de ses titres à long terme plutôt que d’un gain à court terme au moment de l’introduction. Le quotidien cite Timothy Ghriskey, patron de la gestion de Solaris Group, qui indique avoir décliné l’invitation à une réunion de présentation et souligne la volatilité des revenus.
02/05/2012

Pas d’atterrissage brutal en vue pour l’économie chinoise

Un scénario d’atterrissage brutal de l’économie chinoise «apparaît hautement improbable» selon Lee Il Houng, le représentant chinois du FMI cité par le journal. Pékin bénéficie, selon lui, de marges de manœuvre suffisantes pour adoucir le ralentissement de son économie, même dans le «scénario extrême» d’une récession sévère en Europe.
02/05/2012

La Chine se porte au chevet de la Hongrie

Le milliard d’euros de facilité de crédit octroyé par China Development Bank à la Hongrie ne serait qu’une « fraction » des fonds que la Chine serait prête à investir dans l’économie du pays, selon des déclarations au média du premier ministre hongrois Viktor Orban après sa rencontre avec le vice-premier ministre chinois Li Keqiang. Un investissement supplémentaire conditionné à la réalisation d’investissements dans des projets « sensés ».
02/05/2012

La Chine tient à renforcer ses liens avec l’Europe

Dans une tribune rédigée dans le journal, le vice premier ministre chinois, Li Keqiang, ouvre la porte à un renforcement des liens commerciaux entre les deux zones. Il estime en outre que chaque point de pourcentage supplémentaire dans les exportations de produits à haute technologie européens vers la Chine représente au moins 2,2 milliards d’euros en plus dans la balance commerciale européenne.
02/05/2012

Jules Kroll voit grand dans la notation

Le PDG de Kroll Bond Rating Agency entend réaliser des acquisitions afin de se rapprocher des géants mondiaux de la notation. «Cela prendrait trop de temps» sinon, selon Jules Kroll. Il souhaite entamer la notation d’entreprises cette année, visant en premier lieu le secteur des services financiers pour lequel il estime pouvoir apporter une plus-value plus importante.
02/05/2012

La capitalisation bancaire au menu de l'Ecofin

Les ministres des finances de Vingt-Sept se réunissent à Bruxelles pour tenter de déminer le dossier de l’harmonisation de la capitalisation des banques. Ils doivent en particulier trouver un terrain d’entente sur la surpondération discrétionnaire des fonds propres bancaires.
02/05/2012

Lion Capital en exclusivité pour reprendre Alain Afflelou

Le fonds a obtenu une période d’exclusivité de la part des actionnaires d’Alain Afflelou pour finaliser le rachat de l’opticien, ont indiqué lundi les principaux intéressés dans un communiqué commun. Lion Capital, qui s’est déjà illustré en France en rachetant notamment l’enseigne Picard Surgelés en 2010, conduira cette acquisition aux côtés d’Alain Afflelou et de la direction de son enseigne. Aucune valorisation ou détails financiers n’ont été communiqués si ce n’est que le groupe a réalisé près de 800 millions d’euros de chiffre d’affaires dans l’ensemble de son réseau en 2011. Une source proche du dossier a indiqué à Reuters que la transaction valoriserait Afflelou à 780 millions d’euros. Le fonds Bridgepoint avait sorti Afflelou de la Bourse en 2006 pour une valorisation de 500 millions d’euros. La transaction devrait être finalisée au cours du mois de juin, précise-t-on dans le communiqué.
02/05/2012

Man Group en décollecte nette au premier trimestre

Le gérant britannique de fonds alternatifs a fait état d’une collecte nette négative d’un milliard de dollars au premier trimestre. Sur un an, les actifs sous gestion ont chuté de plus de 14%. L’action a reculé hier de 5,39% à la Bourse de Londres.

Sujets d'actualité

Tous les sujets