Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
13/05/2009

Treasury selects managers for PPIP fund

The Department of the Treasury will this Wednesday notify several asset management companies chosen from the 104 candidates who applied that they will be in the first wave of participants in the Public-Private Investment Program (PPIP). The managers selected will certainly include BlackRock and Pimco (Allianz group), the Wall Street Journal reports. These asset management firms will have up to three months to raise at least USD500m to buy up legacy securities which are weighing down the portfolios of banks.
13/05/2009

AEW Europe buys a logistical portfolio from ProLogis

AEW Europe announced on Tuesday that its core-plus fund Curzon Capital Partners II has spent EUR119.5m on the acquisition of a portfolio of seven logistical properties measuring a total of 229,000 square meters and located throughout Germany and the Netherlands from ProLogis. The net initial yield on the investment comes to over 8%.
13/05/2009

UIRE acquires a logistical centre from Goodman

For its institutional real estate fund Immo-Invest: Europa, Union Investment Real Estate (UIRE, German co-operative banks) has acquired a logistical centre measuring 102,020 square metres in Bad Hersfeld. Ownership of the property, leased for 10 years to Amazon, will be transferred in September. The vendor is Goodman Bad Hersfeld Logistics (Lux) S.a.r.l. The price of the acquisition, for which Savills served as the intermediary agent, has not been disclosed.
13/05/2009

Goldman Sachs has potential conflict of interest in Whitehall funds

In a market environment in which commercial real estate prices have plunged, external investors in the Whitehall real estate fund from Goldman Sachs are beginning to consider conflicts of interest, the Wall Street Journal reports. They point out that Goldman Sachs, which is both an investor in, lender to, and manager of the fund (and which thus earns the management commissions) is in a position to profit from the situation to the detriment of outside investors. In 18 years, Goldman Sachs has raised USD31bn for the various Whitehall funds, external investors providing two third or more of this total. These ?opportunity funds? are high-leverage vehicles financed by Goldman Sachs, its employees, and outside subscribers.Currently, problems are emerging in relation to capital losses on Nevada casinos, a hotel chain (Equity Inns), and 36 properties acquired from DEGI in Germany.
13/05/2009

Turner IP launches a fund invested in six house strategies

Turner Investment Partners has announced the launch of the Turner Spectrum Fund, which includes both retail and institutional share classes. The product is a no-load mutual fund, which will invest in six market neutral long/short equities strategies managed by Turner itself: Turner Market Neutral, Turner Long/Short Equity, Turner Select Opportunities, Turner Global Medical Sciences, Turner Global Financial Services and Turner Global Consumer. This is the first time that the asset management firm has offered a mutual fund which allows subscribers access to alternative strategies. Minimal subscription will be USD100,000 for institutional shares and USD2,500 for retail shares, with an expense ratio what will initially be capped to 1.95% and 2.20%, respectively. Turner IP will charge no performance commission on the Spectrum fund.
13/05/2009

ETF assets up in April

As of the end of April, worldwide assets in ETF funds (1,678 funds from 90 providers, listed 3,009 times on 43 stock markets in total) totalled USD706.87bn, according to iShares, compared with USD633.55bn as of the end of March. Year to date, assets under management have fallen 0.5% while the MSCI World index in US dollars was down 3%, and the number of ETF funds increased by 109. 756 new ETFs are currently in the process of being launched. The largest provider of exchange-traded funds continues to be iShares, with 381 ETFs and USD336.17bn in assets, which represents a market share of 47.6%, compared with 46.8% at the end of March. The rankings remain the same as the previous month: State Street Global Advisors (SSgA) ranks second, with 104 products and USD110.14bn, or a market share of 15.6%, compared with 16.3% one month earlier. Vanguard is in third place, with 39 ETFs, USD51.04bn, and 7.2% of the market.
13/05/2009

Capitalia Familiar licensed as a financial advisory firm (EAFI)

Capitalia Familiar has become one of the first companies to be registered by the Spanish market regulator (CNMV) as a financial advisory company (?Empresa de Asesoramiento Financiero,? or EAFI), Funds people reports. For advisory firms with this format, clients retain their assets at their usual financial institutions, while the EAFI provides them with analysis and consolidated assistance with the management of their assets. Capitalia Familiar is directed by Félix González, previously CEO of private wealth management at Renta4.
13/05/2009

Les fonds de pension rappelés à l?ordre par la banque centrale

Selon Les Echos, la Banque centrale des Pays-Bas, qui avait sommé les fonds de pension néerlandais éreintés par la chute des marchés actions, de lui soumettre des mesures de remise à flot, vient d’exiger que des dizaines d’entre eux revoient leur copie.
13/05/2009

Les fonds de pension rappelés à l?ordre par la banque centrale

Selon Les Echos, la Banque centrale des Pays-Bas, qui avait sommé les fonds de pension néerlandais éreintés par la chute des marchés actions, de lui soumettre des mesures de remise à flot, vient d’exiger que des dizaines d’entre eux revoient leur copie.
13/05/2009

Santander updates portfolio of Fondo Superselección

Santander Asset Management has updated the composition of the portfolio of its Fondo Superselección, whose performance is tied to a basket of funds selected according to Lipper criteria, Cinco Días reports. The asset management firm has added two value-style US equities funds, Eaton Vance Emerald US Value M2 USD and JPM US Value A Dist USD. It will also invest in two European equities funds, Carmignac Portfolio Grande Europe and Oyster European Opportunities.
13/05/2009

Partage du profit : le Medef mise sur l?épargne salariale

Selon Les Echos, le directeur général de l’Insee, Jean-Philippe Cotis, remet aujourd’hui à Nicolas Sarkozy son rapport sur le partage de la valeur ajoutée, sur celui des profits et sur les écarts de rémunération. Le Medef veut développer l"intéressement et la participation alors que les syndicats insistent sur les salaires. Les partenaires sociaux devraient commencer à débattre du sujet le 27 mai.
13/05/2009

Brandes calls on MSIG to pay added dividend

Brandes Investment Partners, which owns 9.46% of Mitsui Sumitomo Life Insurance Group, is putting pressure on the Japanese group to pay an additional dividend to its shareholders, at a cost of up to USD55.8m. A letter has been sent to the board of the company, the Financial Times reports.
13/05/2009

UBS : Olencoff will stick to his guns in lawsuit

L’Agefi Suisse reports that the American-Russian businessman Igor Olenicoff is refusing to drop his lawquit against UBS. On Monday he appeared before a court in Santa Ana, California, to testify that he is a victim of the tax avoidance system operated by the largest wiss bank, and is demanding USD500m in damages and interest. The Californian promoter, caught by the Californian tax authorities, pleaded guilty to tax fraud and agreed to pay a heavy fine.
13/05/2009

Defined-benefit fund deficits down in April

According to statistics from the Pension Protection Fund (PPF 7800 Index), the cumulative deficit for the approximately 7,400 defined-benefit pension funds in Great Britain at the end of April totalled GBP188.5bn, comapred with GBP242bn one month previously. At the end of April 2008, the bottom line was positive, at GBP27.1bn. The deficit for funds overall is estimated to have fallen to GBP204.8bn, compared with GBP253.1bn as of the end of March and GBP55.9bn one year previously.The PPF states that total surplus in funds which have more than sufficient coverage increased to GBP16.4bn as of the end of April, from GBP11.1bn one month previously. It stood at GBP83bn as of 30 April 2008.
13/05/2009

Pictet Funds to launch an agriculture fund at the end of the month

The Luxembourg-based management firm Pictet Funds has announced that on 29 May it will launch the PF (LUX) - Agriculture fund, to be managed by Gertjan van der Geer, senior investment manager. The product, which was issued a sales license for Luxembourg on 5 September 2008, is a sub-fund of the Pictet Funds Sicav and will invest in listed agricultural firms that play a dominant role in feeding the planet. To avoid speculation on the price of soft commodities, the fund will not invest in agricultural commodities themselves; in addition, the manager will be prudent about investments in GMOs (companies which earn more than 10% of their revenues from these products will be excluded from the portfolio). Pictet has also retained the Ethos foundation to enter into constructive and regular dialogue with a selection of businesses.The new sub-fund will be sold in several European countries, including France. The P share class in Euros carries a maximal front-end fee of 5%, and a management commission of 1.6%.
13/05/2009

CalPERS adopts a policy of increased transparency for ?placement agents?

Rob Feckner, chairman of the board at CalPERS, has announced that the California pension fund (USD177bn in assets) has adopted a new policy which requires external managers to disclose details of commissions they pay to placement agents and other information about their dealings with these entities in order to obtain mandates from CalPERS. The agencies will also be required to be registered with the SEC and Finra as broker-dealers: if they are not, CalPERS will refuse to award the mandates to the asset management firm.These new rules come in the wake of the recent ?pay-to-play? scandal, in which a ranking politician in New York used his influence at the city pension fund to direct mandates to certain asset management firms who paid him for the favour.
13/05/2009

BBVA signs partnership agreements with CITIC group

BBVA on Tuesday signed two partnership agreements with the Chinese CITIC group to create joint ventures in which the Spanish bank will control 35% of an entity that will lend money to finance purchases of automobiles in China, and 20% of a private bank to be founded with China Citic Bank (CNCB) as partner. BBVA points out that China is a market in which 320,000 households have financial savings of over EUR1m. The agreements are a materialization of the ?Framework Agreement on Further Strengthening Strategic Cooperation in Core Business Areas? signed in Madrid in January by the two groups.In private banking, BBVA will participate in the management of the existing specialised division of CITIC, which will serve as the embryo of the future joint venture. BBVA will bring to bear its expertise in private banking in several countries, in investment policy, risk management, and technology.
13/05/2009

Capital increase at BNY Mellon

The Bank of New York Mellon Corporation (BNY Mellon) has announced a capital increase through an issue of USD1bn in ordinary shares. Goldman Sachs and Morgan Stanley will jointly oversee the books for the operation. They will have a greenshoe option of 15%.Pending the approval of the regulators, the bank has proposed officially notifying the Department of the Treasury that it is buying back the last preferential shares in the firm issued to the government as part of the Troubled Asset Relief Program (TARP).BNY Mellon had previously announced that, on the basis of stress tests, it did not need to raise further capital.
13/05/2009

Jean-Baptiste de Franssu (Invesco Europe) to assume Efama presidency

Mathias Bauer, chairman of the Austrian VÖIG association of management firms, will be leaving office as president of Efama at the conclusion of his term at the end of June. On 19 June in Athens, a general assembly of delegates will elect his successor. The Börsen-Zeitung reports that, according to the outgoing Austrian, the only candidate to succeed him at the moment is Jean-Baptiste de Franssu, CEO of Invesco Europe since 1996.
13/05/2009

ETF assets up 6% in January-April

Compared with the end of March, when they totalled USD135.6bn, assets in European ETF funds have increased by USD15.8bn, to a total of USD151.4bn, iShares reports. This represents a 6% increase since the beginning of the year, while the MSCI Europe index in US dollars has lost 4.7%. The total as of the end of April comes to 701 ETFs, compared with 672 as of the end of March, while the increase in the number of products in the first four months of the year totals 66 funds, or 10.9%. The number of providers has risen from 29 in March to 32 in April, and the number of listings has risen from 1,702 to 1,826. However, the number of stock markets on which these products are listed has remained unchanged at 21. The three leaders in the European market remain the same as in March: iShares (Barclays Global Investors) with 158 ETFs, USD58.9bn in assets under management, and 38.9% market share, followed by Lyxor Asset Management (116 products, USD33.3bn in assets and 22% market share), and db x-trackers (Deutsche Bank) with 101 Etfs, USD25.2bn, and 16.7% of the market as of the end of April. The top three actors control 77.6% of the market, compared with 78.5% at the end of March.
13/05/2009

Petercam recruits a head from ABN Amro

Peter de Keyzer, who is currently chief investment advisor at ABN Amro Belgium, will join the asset management firm Petercam by 1 September at the latest, as chief economist. De Keyser comes as an addition to Petercam’s personnel in investment policy, in charge of elaborating strategy within and between the various asset classes for institutional and private management. More specifically, his role will be to define the macro-economic framework and to assist in identifying the best investment themes for the future.The macroeconomic analysis team at Petercam is led by Xavier van Campenhout, a partner at Petercam, who is responsible for strategy at the Swiss private bank. In addition to de Keyzer, the team also includes Filip Verstreken and Stijn De Cock.
12/05/2009

Nomura muscle sa recherche actions européennes

Nomura a annoncé la nomination de huit analystes qui vont renforcer sa recherche actions européennes. Mark McVicar, Joel Copp-Barton et Andrew Evans, en provenance de Dresdner Kleinwort, vont couvrir les secteurs des transports et des infrastructures. Marc Van’t Sant et Ed Steele, précédemment chez Citigroup, sont des spécialistes du secteur des services, alors que Simon Larkin et Nick Thomas, qui viennent de Royal Bank of Scotland, vont traiter le secteur des loisirs. Rebecca Langley, précédemment chez Dresdner Kleinwort, sera en charge des services, des loisirs et des infrastructures. Nomura a déjà récemment renforcé son pôle actions européennes avec le recrutement de six experts pétrole et gas, pharmacie et industrie.
12/05/2009
Fonds

iShares enregistre une forte demande pour ses ETF marchés émergents

Pour janvier-avril, les souscriptions nettes enregistrées en Europe par les ETF marchés émergents de iShares ont atteint 597 millions d’euros, dont 536 millions pour mars et avril, rapporte fondsweb.de. La filiale de Barclays Global Investors (BGI) précise que le meilleur score dans cette gamme a été enregistrée par le iShares MSCI Emerging Markets, qui a drainé à lui seul 221 millions d’euros sur les quatre premiers mois de l’année.
Fonds
12/05/2009

Ethos et Unigestion lancent un fonds de private equity responsable

Selon Le Temps, Ethos et Unigestion lancent un fonds de fonds de private equity axé sur les technologies propres, à destination des investisseurs institutionnels, notamment les caisses de pension souhaitant investir dans ce domaine. Les deux établissements comptent comptent réunir 250 millions de dollars d’ici au troisième trimestre.
12/05/2009

Deutsche Borse étend son offre d'information

L’entreprise de marché Deutsche Börse vient d'étendre son offre d’informations boursières à sept nouveaux pays. Des données de marchés harmonisées et vérifiées sont désormais disponibles sur l’Estonie, la Finlande, la Lettonie, la Lithuanie, la Pologne, le Portugal et la République tchèque. Depuis septembre 2008, Deutsche Börse propose un tel service pour seize pays pays européens dont l’Allemagne, la France et le Royaume-Uni.
12/05/2009

Reporting risques : partenariat OpHedge/RiskMetrics

Le fournisseur de services d’administration OpHedge Investment Services a conclu un accord de partenariat avec RiskMetrics pour proposer des services de reporting des risques à sa clientèle de hedge funds qui pourront ainsi créer des rapports mensuels susceptibles d'être distribués directement aux investisseurs.

Sujets d'actualité

Tous les sujets