Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
17/03/2014

Axa IM appoints Tim Gardener as global head of institutional client group

Axa Investment Managers announced last thursday the appointment of Tim Gardener as global head of the firm’s new institutional client group, formed to reflect the asset manager’s focus on the investment needs of distinct client groups. Lisa O’Connor, currently European head of consultant relations, succeeds Tim Gardener as global head of consultant relations.Tim Gardener will lead the development of the firm’s offering and approach to institutional clients, including insurance companies, pension funds, and sovereign wealth funds. Elodie Laugel, previously head of solutions development in Axa IM’s multi asset client solutions team, has been appointed deputy head of the institutional client group. The global consultant relations team, led by Lisa O’Connor, is an integral part of the institutional client group. The institutional client group is one part of Axa IM’s wider client group of 250 professionals led by Laurent Seyer. The division is in charge of developing the asset manager’s proposition by client segment (institutional, retail and wholesale), while coordinating and monitoring marketing and client relationship activities.
17/03/2014

“Our ambition is to increase the percentage of institutional investors to 50% of our clients”

Neuflize OBC Investissements, led by Stéphane Corsaletti, has been in the midst of a discreet revolution which last year resulted in a merger of five asset management firms and an overhaul of its product range. This gives the firm a reason to raise its ambitions, as it has already brought in USD3bn in 2013, and would like to increase its market share further with institutional investors. To achieve this, NOBC Investissements has recruited two senior convertible bond managers, in a key asset classes for both clients and the asset management firm.
17/03/2014

Schelcher Prince Gestion recruits a convertible bond manager

P { margin-bottom: 0.08in; } The Schelcher Prince Gestion company has announced the recruitment of Quentin Philippe as an addition to its convertibles management team and a consolidation of its analysis/management synergy model, a statement says. He will report to Hubert Lemoine, head of convertible bonds, and will contribute his expertise in the technologies, media and telecommunications sector, which represents more than 25% of total global convertible bond issues. Before joining the team at Schelcher Prince Gestion at the end of 2013, Philippe in 2012 launched transversal multi-asset class research at Oddo Securities combining equity and fixed income research with a particular focus on convertible bonds.
17/03/2014

Tikehau IM extends real estate and equities teams

P { margin-bottom: 0.08in; } In order to accelerate its development, Tikehau IM on Friday, 14 March announced several appointments to reinforce its teams dedicated to real estate and equities. Frédéric Jariel is appointed as co-head of the real estate team, an activity which aims to bring in EUR250m in capital in 2014. Jariel, an accountancy expert by training, began his career at Coopers Lybrand. Thomas Friedberger and Vincent Mercadier join the equities team at Tikehau in order to develop this activity further. Friedberger is a graduate of ESCP in finance, and began his career as a market trader. Mercadier, a graduate of the Ecole Polytechnique and the University of California – Berkeley, began his career in 2007 in New York as an analyst at La Fayette Management.
17/03/2014

Citi wins a mandate from East Capital

P { margin-bottom: 0.08in; } Citi Investor Services has announced that it has won a mandate from the East Capital group to provide customer services includes fund custody and administration for the recently-launched China A-Shares Fund, a sub-fund of the East Capital (Lux) SCA Sicav-SIF. Citi Investor Services thus strengthens an already well-established relationship with the emerging market and frontier market specialist asset management firm.
17/03/2014

Assets up in February for AllianceBernstein, Franklin, Invesco and Legg Mason

P { margin-bottom: 0.08in; } The months are lining up for large US asset management firms. According to preliminary data, their assets continued to increase in february. AllianceBernstein has posted an increase of 2.9% to its assets under management, to USD458bn as of the end of February, compared with USD455bn at the end of january. This increase was driven both by positive market effects and a net inflow whose total has not been revealed. Franklin Templeton and Invesco have not been left behind. The former saw an increase in its assets of 2.9% month on month to USD882.2bn, while the latter posted an increase in assets under management of 3.4% to USD791.2bn at the end of February.Finally, Legg Mason posted an increase of 2,19% to its asset under management to USD695 bn at the end of february, compared to USD679.9 bn at the end of january.
17/03/2014

Appointment at Sal. Oppenheim

P { margin-bottom: 0.08in; } The private bank Sal. Oppenheim, based in Cologne, has announced the recruitment of Ulrich Hähner as its new head of institutional management, which will advise family offices and charities. Hähner previously worked at J. Safra Sarasin Deutschland as head of the Cologne office, in charge of dedicated solutions and assistance to charities and high net worth families throughout Germany. The bank has also combined its services dedicated to private and institutional clients within a the banking unit, which is now led by Nicolas von Loeper, a board member. The grouping will allow the bank to respond more easily to the growing interest of institutional investors in these illiquid assets, a statement says.
17/03/2014

BNY Mellon closes two funds

P { margin-bottom: 0.08in; } The US asset management firm BNY Mellon has closed two funds, following a steep fall in their assets under management, Citywire Global reports. The first vehicle concerned is the BNY Mellon Evolution Global Alpha, launched in 2006 as a multi-asset class absolute return strategy, which had GBP6m (EUR7.18m) at its closing. The second fund is the BNY Mellon Latin America Infrastructure, launched in 2010, which had about GBP1m (EUR1.2m) at its closing date.
17/03/2014

Old Mutual GI unveils three new multi-asset funds

P { margin-bottom: 0.08in; } Old Mutual Global Investors is extending its product range. As announced in late 2013 (see Newsmanagers of 23 December 2013), the asset management firm made the launch of three new multi-asset class funds for its Foundation product range, co-managed by John Venture, head of multi-management, Stewart Cowley, chief investment officer for fixed income, and Paul Simpson, head of British equities, FT Adviser reports. The three products will invest exclusively in funds from Old Mutual exposed to equities and bonds. According to the website, the objective for the funds is to earn returns 3% to 5% above inflation with an investment horizon of 5 to 10 years.
17/03/2014

Axa IM teams up with BP2s to distribute funds in Latin America

P { margin-bottom: 0.08in; } BNP Paribas Securities Services and Axa Investment Managers have extended their partnership to fund distribution support services in Latin America. This was made possible as BNP Paribas joined the regional National Securities Clearing Corporation (NSCC) compensation platform as a fund member The main Latin American brokers will have access to various fund ranges from Axa IM. “Latin America, which is now more available, is a priority market for us. With this strengthened partnership, we are now offering our Offer to meet Needs Everywhere (ONE), a complete customer service system which is already deployed in Europe and Asia, on the entire Latin American market,” says Joseph Pinto, chief operating officer at AXA IM.
17/03/2014

Ukraine costs top Russian fortunes USD6.6bn

P { margin-bottom: 0.08in; } The ten wealthiest Russians have lost about USD6.6bn, or 4.7% of their cumulative wealth, according to an estimate published by Wealth-X, following a fall of more than 11% on the Micex index in the week of 3 March due to rising tensions between Ukraine and Russia. Alisher Usmanov, the richest Russian in the country, with interests in the mining, telecommunications and sporting industries (including a stake of more than 30% in the Arsenal football club), is reported to have lost USD1.7bn after a turbulent week on the markets, which brought his wealth down to USD18.3bn from USD20bn previously. Another billionaire, Vladimir Potanin, chairman of Interros, one of the largest investment companies in the country, lost about USD2bn, which brought his wealth to USD10.4bn.
17/03/2014

Latin American investors have a growing appetite for foreign investments

P { margin-bottom: 0.08in; } Investors in Latin America are increasingly hungry for foreign investments, and international asset management firms should see this as an opportunity to get a foothold in the region, a study carried out by BNP Paribas Securities Services in partnership with Sagalink finds. This market represents 4% of assets under management worldwide. With over USD1.071trn in assets under management and 7,500 investment funds, Brazil is the largest fund market in the region, and the sixth-largest in the world. Chile, Colombia, Mexico and Peru are also interesting markets. The study also finds that the Latin American investor market is becoming increasingly sophisticated, in terms of the internationalisation of investment structures. UCITS are being created by local asset management firms to be sold locally and abroad, and new products are being launched, including real estate and venture capital funds. In order to enter the Latin American market, BP2S and Sagalink recommend a custom approach based on the business model of the asset mangement firm, the selected market and the target client segment in question.
17/03/2014

AGF Investments posts inflows of USD1bn to emerging markets and global mandates

P { margin-bottom: 0.08in; } European and British invetors are increasingly focusing on emerging markets and international strategy mandates, according to the Canadian asset management firm AGF Investments, Investment Advisor reports. In the past 12 months, AGF posted inflows of USD1bn to strategies including British pension funds (Local Authority Pension Funds West Midlands and Lancashire County Pension Fund, which manage a total of over USD24bn). In December 2013, AGF Investments launched the AGF Global Core Equity Fund and AGF Emerging Markets All Cap Equity Fund on the firm’s UCITS platform, which makes it possible to sell strategies in the countries of the European Union and Asia.
17/03/2014

Italian asset management association pushing for an individual savings account

P { margin-bottom: 0.08in; } Assogestioni, the Italian association of asset management professionals, hopes that the announcement that the new Renzi government plans to usher in a “remodelling” of the tax regime applied to investment instruments, with the exception of Italian and European government bonds, will lead to the introduction of new forms of incentives to long-term savings, a statement released on Friday says. The desire of Assogiestioni is that it will be an opportunity to introduce individual savings plans in Italy.
17/03/2014

UBS sharply increased its bonuses in 2013

P { margin-bottom: 0.08in; } The UBS group has sharply increased its bonuses due to the solid performance earned in 2013. The allocation to variable pay increased in the space of one year from CHF2.5bn to CHF3.2bn, according to the UBS management report published on 14 March. An increase of 28% is due to the fact that premiums were slashed after the Libor interest rate manipulation scandal. The CHF3.2bn dedicated to bonuses corresponds to net profits earned by the large bank last year (CHF3.17bn). The head of UBS, Sergio Ermotti, last year saw a sharp increase in his income. He made CHF10.7m, up from CHF8.9m in 2012. The CEO is, however, not the highest-paid head of a Swiss bank. The head of the investment bank, Andrea Orcel, made CHF11.4m.
17/03/2014

UniCredit to sell or hold IPO for Pioneer Investments

UniCredit aims to sell or hold an initial public offering for its asset management firm Pioneer Investments, at a price of EUR2-3bn, as part of an asset sell-off programme, the Financial Times reports, citing sources close to the bank. The move may come next year. UniCredit, which announced a record loss of EUR14bn last week, had already tried to sell Pioneer four years ago, but dropped the plans shortly after the arrival of Federico Ghizzoni as CEO. A source familiar with the matter explains that the bank pulled out of talks with the French firm Amundi four years ago under political pressure.
17/03/2014

BlackRock controls 5.2% of UniCredit

P { margin-bottom: 0.08in; } BlackRock controls 5.246% of UniCredit, Bluerating reports, citing the most recent statistics from Consob, the Italian regulator. The stake is distributed between various funds of the US financial group, and dates from 7 March. As of the end of January, BlackRock already controlled 5% of the Italian bank.
17/03/2014

M&G has over EUR8bn in assets under management in Italy

P { margin-bottom: 0.08in; } In 2013, M&G Investments saw an increase in its assets under management from a level of EUR4.3bn to EUR8.1bn, Bluerating reports. “M&G has finished its best year in Europe, and that also applies to Italy, which is now the second-largest country in Europe after the United Kingdom,” says Matteo Astolfi, director of M&G in Italy.
17/03/2014

DeAWM recruits a JPMorgan AM veteran in Asia

P { margin-bottom: 0.08in; } Ken Tam, previously head of JP Morgan Asset Management in Northern Asia, has joined Deutsche Asset & Wealth Management (DeAWM) in Asia, to serve in the same role at the German firm, Asian Investor reports, citing sources familiar with the matter. According to the website, Tam, who spent 20 years at JP Morgan AM, including 7 years as head for Northern Asia, will at DeAWM be responsible for activities dedicated to retail and institutional clients in the region.
17/03/2014

Société Générale en passe de céder à DBS sa banque privée en Asie

Société générale est en passe de céder au groupe bancaire singapourien DBS Group Holdings ses activités de banque privée en Asie pour environ 250 millions de dollars (180 millions d’euros), ont indiqué le 14 mars à Reuters des sources proches du dossier. Un accord entre les deux établissements pourrait être annoncé dès ce lundi, ont ajouté ces sources.Ni la Société générale ni le groupe DBS n’ont souhaité commenter ces informations. En janvier, des sources avaient indiqué que DBS était en discussions avancées avec la Société Générale pour reprendre la filiale de banque privée du groupe français en Asie.
17/03/2014

UBS sets aside CHF1.6bn for legal and regulatory risks

P { margin-bottom: 0.08in; } The Swiss group UBS in 2013 increased its allocation for provisions for legal expenses and regulatory actions by CHF190m, to CHF1.62bn, according to the annual report published on 14 March. The firm is exposed to a series of lawsuits, class actions, legal procedures and government investigations, and the scale of the legal risks may be substantial, the report says. In the Libor maipulation scandal, UBS announced in 2012 that it would be required to pay CHF1.4bn in restitution and fines to the US, British and Swiss authorities. In the United States, the major bank has signed a “non-prosecution agreement” with the US Department of Justice. UBS Securities Japan CO has also pleaded guilty to the charge of electronic fraud over the manipulation of certain guide interest rates, UBS says in its annual report.
17/03/2014

Le Club de Paris invite l'Argentine à venir négocier sa dette

Les pays créanciers de l’Argentine réunis au sein du Club de Paris l’ont officiellement invitée à venir négocier fin mai les modalités de remboursement de ses arriérés de dette, selon la secrétaire générale du Club. Buenos Aires a présenté le mois dernier des propositions pour le remboursement de cette dette de quelque 9,5 milliards de dollars dont elle a cessé d’assurer le service depuis son défaut de 2002.
17/03/2014

La Fed fait les affaires du Trésor américain

La Réserve fédérale américaine a transféré 79,6 milliards de dollars au Trésor en 2013. La banque centrale a pour usage de restituer les intérêts perçus sur son programme d’achats d’actifs. Ces intérêts sur les Treasuries et les titres hypothécaires (MBS) se sont montés à 90,4 milliards l’an dernier. En 2012, les transferts avaient atteint un record de plus de 88 milliards en raison des profits réalisés par la Fed lors de son opération Twist qui consistait à arbitrer les parties courtes et longues de la courbe des taux américaine.
17/03/2014

La Cades a émis 3 milliards de dollars

La Caisse d’amortissement de la dette sociale a émis 3 milliards de dollars d’obligations 3,375% mars 2024 au prix de 99,64%. L’opération, qui a suscité une forte demande, offre un rendement de 73,6 points au-dessus du T-Note américain à 10 ans (2,75%). La Cades a précisé que le placement a été réalisé auprès de 50 investisseurs du monde entier, dont 51% venant d’Asie. Avec cette opération, la Cades aura levé l'équivalent de 12,2 milliards d’euros depuis le 1er janvier sur un programme d'émission de dette court, moyen et long terme de l’ordre de 24 à 27 milliards d’euros.
17/03/2014

UniCredit prépare l’IPO ou la vente de Pioneer

Pioneer Investments pourrait être le prochain actif mis en vente ou en Bourse par la banque italienne, dans le cadre d’un vaste programme de cessions. L’opération pourrait avoir lieu l’année prochaine, pour une valorisation espérée par UniCredit de 2 à 3 milliards d’euros. La banque garde en tête la cotation d’HypoVereinsbank, mais cette opération ne pourra avoir lieu que dans quelques années.

Sujets d'actualité

Tous les sujets