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05/08/2014

Fullerton FM lance un fonds actions dédié aux pays émergents

Le gestionnaire d’actifs singapourien Fullerton Fund Management (Fullerton FM) étoffe sa gamme de fonds luxembourgeois avec le lancement d’une nouvelle stratégie dédiée aux marchés émergents, révèle Citywire. Baptisé Fullerton Lux Funds – Global Emerging Market Equities, le nouveau véhicule investira principalement dans les actions et des actions de préférence tout en conservant la possibilité d’investir dans des convertibles le cas échéant. Son univers d’investissement comprend des titres cotés sur les Bourses des marchés émergents mondiaux ainsi que des valeurs d’entreprises ayant une exposition ou qui génèrent une partie de leur chiffre d’affaires dans les pays émergents à travers le monde. L’indice de référence de ce fonds est le MSCI Emerging Markets Net Index et sa monnaie de référence est le dollar américain, précise le site d’information britannique.
05/08/2014

Very strong growth in ETPs in Europe in July

p { margin-bottom: 0.1in; line-height: 120%; } The publicly-traded ETP sector in Europe in July posted inflows of USD10.4bn, according to temporary data released by BlackRock. Europe is the most dynamic region of the world, with cumulative inflows of USD42.2bn in the first seven months of the year, already far higher than those posted in the year 2013 overall (USD19.4bn). Worldwide, inflows to ETPs have totalled USD32bn, led by non-US equities, totalling USD13.5bn, but also by US equities (USD13.5bn), largely large caps. Emerging market equities continued to attract investors for the fourth consecutive month. In the first seven months of the year, inflows to emerging market equities total USD6.3bn, while the corresponding period of 2013 brought outflows of USD7.7bn. With USD103.2bn in inflows since the beginning of the year to developed market equities, inflows to equities total USD110.1bn, compared with USD147.8bn in the first seven months of 2013. With inflows to bonds of USD43.1bn since the beginning of the year (compared with USD24.1bn between January and July 2013), total inflows come to USD155.6bn in seven months, compared with USD143.1bn in the corresponding period of 2013.
05/08/2014

Aberdeen raises EUR125m for an infrastructure fund

p { margin-bottom: 0.1in; line-height: 120%; } Aberdeen Asset Management (Aberdeen AM) has raised USD168m (EUR125m) from Asian institutional investors for its fifth infrastructure fund, Funds Europe reports. The vehicle, entitled Aberdeen Global Infrastructure II LP Fund, will be managed by a team of 24 people, led by Gershon Cohen, who already invests in 90 infrastructure projects worldwide. The asset management firm now has about USD2.2bn in assets under management in mandates dedicated to infrastructure.
05/08/2014

Fisch Asset Management adds to management teams

p { margin-bottom: 0.1in; line-height: 120%; } Fisch Asset Management has announced the recruitment of two new employees for its management. Daniel G. Keller joins the Swiss asset management firm as Senior Sales & Relationship Manager, and will be responsible for international distribution. Keller was previously executive director for Benelux and Scandinavian markets at Swiss & Global Asset Management. Before that, he spent four years as Business Development Manager for Northern Europe at Swiss Capital Alternative Investments SA in Zurich. The second new recruit, Meno Stroemer, is director of trading at Fisch Asset Management. The US citizen had since 2009 served as head of Emerging Markets Corporate Trading at Morgan Stanley, before becoming global head of the Emerging Markets Debt Syndicate in London and New York.
05/08/2014

Net inflows of EUR12.6 bn for Amundi in first half

Amundi, the asset management arm of French banking group Credit Agricole, had EUR821.4 bn assets under management at end June 2014 (+5,7% from December 2013), announced the group this morning. Net Inflows for the first half of the year amounted to EUR12.6 bn, of which EUR6.3bn in second quarter. Long term assets gathered EUR17.7 bn, both in active and passive management. Net international inflows amouted to EUR8.1bn but in France, Amundi registered net outflows of EUR1.6bn in first half.
05/08/2014

BNY Mellon launches BNY Mellon Absolute Insight Fund in France

p { margin-bottom: 0.1in; line-height: 120%; } BNY Mellon Investment Management has announced the launch of the BNY Mellon Absolute Insight Fund, a multi-strategy absolute return fund with daily liquidity in UCITS format, domiciled in Dublin (see Newsmanagers of 1 July 2014) in France. The fund will be managed by Insight Investment. “This new fund comes as an addition to our range of absolute return funds, which has had real success with French investors. We would like to become an irresistible actor in this asset class in France. The strategy of the absolute return fund is very interesting in our context, as managers have more flexibility to generate positive returns. The success of Insight in absolute return strategies, and the extent of its expertise, will allow us to offer French investors a fund which really meets their demand; absolute return approaches will play an increasingly important role in portfolios,” says Anne-Laure Frischlander.
05/08/2014

Rothschild Bank AG, showing a loss for 2013/2014 fiscal year, will not distribute dividend

p { margin-bottom: 0.1in; line-height: 120%; } For the first time in a long time, the board of directors at Rothschidl Bank AG Zurich has decided not to distribute a dividend for the 2013/2014 fiscal year, ending on 31 March 2014. The cause of the decision is a loss of CHF9.2m at the end of the fiscal year to the end of March, after profits of nearly CHF16m the previous year. This development is largely due to the bank’s stake in the US tax regularization programme, which led to provisions and corrections to securities totalling nearly CHF26m. The bank completed the 2013/2014 fiscal year with net outflows of CHF274m, after -CHF258m the previous year. Assets under management nonetheless held stable, at CHF14.26bn, compared with CHF14.36bn the previous year, due to the good performance of the stock markets. The bank, which also claims that it wishes to maintain a large cushion of owners’ equity, had not forgone distributing a dividend since the 1960s, in 1968.
05/08/2014

Islamic finance shows strong growth thanks to Asia

p { margin-bottom: 0.1in; line-height: 120%; } According to figures from the Malaysia International Islamic Finance Centre (MIFC), total assets under management in Islamic finance rose from USD29.2bn in 2004 to USD73.7bn as of the end of December 2013. The number of funds managed according to Islamic law comes to 1,065 products as of the end of 2013, comapred with 285 ten years ago. “Islamic asset management is very dynamic and innovates a lot. The industry may have been through a slightly more difficult year in 2012, when smaller products and products which performed less well were pushed out of the market,” Mohieddine Kronfol, global sukuk chief investment officer at Franklin Templeton Investments, explains to The Banker.com. But growth remains very strong due to markets such as South-East Asia and the countries of the Gulf. Malaysia and Saudi Arabia together represent more than 83% of assets in Islamic funds. Annual growth in Islamic assets in the past five years is 27% in Asia, led by Indonesia (+37% per year), Malaysia (+26%), and Thailand (+18%).
05/08/2014

Anima sees 66% increase in first half profits

p { margin-bottom: 0.1in; line-height: 120%; } It has been a strong start to the year for Anima Holding. The Italian independent asset mangement firm has published net profits up 66% in first half 2014. Its net profits totalled USD40.3m as of the end of June 2014, compared with EUR24.3m one year previously. In first half, its earnings total EUR113m, compared with EUR89.2m one year previously. In the first six months of the year, Anima has posted net inflows of EUR5bn, growth of about 50% compared with the net inflows observed in the year 2013 overall. This performance, conjugated with positive market effects, brings assets under management to EUR53.5bn as of the end of June 2014, compared with EUR46.6bn as of the end of 2013, and EUR41.5bn in first half 2013.
05/08/2014

Orix, Robeco IAM and BAD sign parntership for green private equity

p { margin-bottom: 0.1in; line-height: 120%; } The Asian Development Bank (ADB), Orix Corporation and Robeco Institutional Asset Management B.V. (Robeco) have announced the creation of Asia Climate Partners (ACP), a joint venture which will invest in private equity as part of green projects throughout the Asian region. The new firm, ACP, which has seed capital of USD400m, will be based in Hong Kong, and led by a team of private equity professionals which will prefer investments in renewable energeies, clean technologies, energy efficiency, water, agriculture, forestry, and other environmentally friendly projects.
05/08/2014

State Street strengthens its Client Solutions team in Europe

p { margin-bottom: 0.1in; line-height: 120%; } State Street on Monday, 4 August announced the arrival of Oliver Berger as senior vice president, responsible for strategic development for the Europe, Middle East and Africa (EMEA) region in the sectoral solutions team. As part of this creation of a new position, Berger will be responsible for development of new products and client solutions at State Street. Berger will be based in Frankfurt, and will report directly to Stefan Gmuer, executive vice president, director of Sectoral Solutions for the EMEA region. Berger joins State Street after 19 years at the JP Morgan Chase group, where his last position was as Head of Development for the EMEA region. State Street has also announced additional recruitments for its EMEA sectoral solutions team. Andreas Schmid joins the group as vice president of the asset owner unit in Zurich, after working at RBC in the Investor and Treasury Services division. Tom Wooders, who will serve as vice president, will report to David Howie, senior vice president of the Insurance Solutions arm of State Street.
05/08/2014

Le Sénat plaide en faveur du bitcoin

Des «risques identifés» mais des «avantages tangibles». Dans un rapport d’information, les sénateurs français défendent un développement encadré des monnaies virtuelles, dont la plus connue d’entre elles, le bitcoin. Selon eux, la France a une carte à jouer dans une technologie qui pourrait être développée pour d’autres usages que le seul paiement.
05/08/2014

Pékin promet investissements et réformes économiques

La Chine va accroître l’investissement dans plusieurs secteurs y compris l’immobilier, tout en mettant en œuvre de vastes réformes promises comme celles touchant à la fiscalité et à la fixation des prix, a déclaré lundi la Commission nationale de développement et de réforme. L'économie chinoise a enregistré au deuxième trimestre une croissance de 7,5%, un peu plus forte que prévu, mais beaucoup d'économistes pensent que le gouvernement devra annoncer de nouvelles mesures de relance s’il veut atteindre ses objectifs annuels.
05/08/2014

Légère hausse des prix à la production en zone euro

Attendus stables, les prix à la production dans la zone euro ont progressé de 0,1% en juin par rapport à mai, en raison principalement d’une hausse de 0,5% des prix dans l'énergie, a annoncé Eurostat hier. En rythme annuel, ils ont baissé de 0,8% –leur plus faible recul depuis décembre dernier– alors que le marché tablait sur un repli de 1,0%.
05/08/2014

L'ex-économiste en chef de la BoE part chez BP

Spencer Dale, ancien chef économiste de la Banque d’Angleterre (BoE), quitte la banque centrale pour devenir chef économiste de la compagnie pétrolière BP. Il prendra ses nouvelles fonctions dans le privé le 27 octobre, a précisé la BoE en ajoutant qu’un processus de recrutement serait lancé pour le remplacer.
05/08/2014

Une annulation de dette improbable pour la Grèce

Jean-Claude Juncker, futur président de la Commission européenne, a laissé entendre hier que l’idée de voir les pays de la zone euro effacer la dette de la Grèce n'était pas au centre de ses réflexions. Dans le cadre de discussions à venir, des responsables grecs et européens ont plutôt évoqué une baisse des taux d’intérêt ou encore un allongement des maturités plutôt qu’un effacement pur et simple.
05/08/2014

Le Club de Paris confirme un premier versement argentin

Les Etats créanciers de l’Argentine réunis au sein du Club de Paris ont confirmé hier avoir reçu la semaine dernière un premier versement de 642 millions de dollars (479 millions d’euros) de Buenos Aires dans le cadre de l’accord conclu en mai sur le remboursement de 9,7 milliards de dollars d’arriérés de dette. Un deuxième versement de 500 millions de dollars est prévu en mai 2015.
05/08/2014

Paris et Berlin prônent l’unité sur les sanctions bancaires américaines

La France et l’Allemagne souhaitent une position européenne commune sur les sanctions imposées par la justice américaine à des banques européennes pour des opérations effectuées hors des Etats-Unis, a déclaré hier le ministère allemand des Finances, Wolfgang Schäuble. Paris a démenti avoir demandé que le sujet soit porté à l’ordre du jour du prochain sommet du G20 en novembre, comme le rapportait le Financial Times. La France souhaite en revanche obtenir le soutien de ses partenaires pour promouvoir l’usage de l’euro dans les transactions internationales.
04/08/2014
Fonds

Miller Howard lance une version Ucits de son fonds énergie

La société américaine indépendante Miller Howard Investments a lancé une version Ucits de son fonds énergie qui investit dans les thématiques de la révolution énergétique nord américaine, rapporte Citywire. Ce fonds, nommé « Drill Bit to Burner Tip fund», investit dans le secteur des huiles et des gaz de schiste dans la région en se focalisant exclusivement dans les activités et les acteurs les mieux positionnés pour profiter rapidement de l’essor de cette nouvelle source d’énergie. Ce fonds sera géré par Lowell Miller, président et CIO de Miller Howard Investments. Le fonds existant, dont s’inspire la version Ucits nouvellement créée, a été lancé en juin 2011 et affiche aujourd’hui un encours de 8,2 milliards de dollars. Ce fonds est investi à hauteur d’environ 31% dans les industries en amont (exploration et production), 23% dans la chaine intermédiaire (pipelines, stockage), 18% en aval (transformation et raffinage) et 28% dans les secteurs clients (produits chimiques, groupes de transport). Cette nouvelle version Ucits est disponible sur AUP (Alceda Ucits Platform) la plate-forme Ucits de Alceda aux côtés du fonds actions de Miller Howard Investments (Dividend Equity fund) lancé en août l’année dernière. La plate forme d’Alceda, basée au Luxembourg, est la plus grande plateforme Ucits indépendante en Europe.
Fonds
04/08/2014

Jupiter AM nomme un responsable de la distribution pour l'Autriche

Jupiter Asset Management a annoncé le recrutement de Karl E. Banyai au poste de directeur de la distribution pour l’Autriche. Il est rattaché directement à Andrej Brodnik, responsable des ventes pour l’Allemagne, l’Autriche et la Suisse. Karl E. Banyai rejoint Jupiter AM en provenance de BlackRock, où il occupait un poste de direction. Avant cela il travaillait auprès de la clientèle privée de la banque Constantia en tant que responsable de la distribution.

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