La société de gestion italienne Anima SGR a remanié sa gamme de fonds, a-t-elle confirmé à Citywire Global. Parmi les changements principaux figure la fusion des fonds Euro Equity et European Equity au sein d’Anima SICAV - European Equities, géré par Lars Schickentanz.

Helen Zhu, qui vient de passer huit ans chez Goldman Sachs, va rejoindre BlackRock à compter du 7 avril au poste de managing director et responsable des actions pour la Chine, rapporte Asia Asset Management. Chez Goldman Sachs, elle était dernièrement stratégiste en chef sur les actions chinoises, après avoir travaillé dans la division de recherche en investissement de la banque américaine sur le marché asiatique, couvrant en particulier les secteurs des télécoms et d’internet. Au cours de sa carrière, Helen Zhu a également travaillé pendant cinq ans chez ABN Amro où elle couvrait aussi la recherche actions sur le secteur des télécoms.

Jasper Bugter a rejoint le 3 mars State Street Global Advisors (SSgA) à Amsterdam pour occuper le poste de gérant senior des relations avec les clients, dévoile IPE.com. L’intéressé rapportera directement à Robert Rijlaarsdam, responsable de l’équipe Benelux de la société de gestion américaine.Avant d’intégrer SSgA, Jasper Bugter a travaille chez Generali Investments Europe à Amsterdam et, auparavant, chez Robeco.

Haitong International Securities Group a coté le 7 mars sur la Bourse de Hong Kong son premier ETF compatible avec les règles RQFII (investisseur institutionnel étranger qualifié pour la gestion en renminbi), baptisé Haitong CSI300 Index ETF, rapporte Asia Asset Management. Haitong devient ainsi la première société financière basée à Hong Kong à émettre un ETF RQFII. Ce produit sera supervisé par Hai Tong Asset Management, une filiale de Haitong International Securities Group et investira directement dans des valeurs du CSI300 Index avec une pondération similaire à leurs poids respectifs dans cet indice.A fin février, Haitong International Securities Group s’était vu attribuer un total de 6,7 milliards de renminbi (1,06 milliard de dollars) de quotas RQFII via sa maison mère Haitong International Holdings.

Le marché espagnol de la gestion d’actifs s’enrichit d’un nouvel acteur. La société britannique Jupiter Fund Management vient en effet d’enregistrer auprès du régulateur espagnol, la CNMV, sa Sicav luxembourgeoise Jupiter Global Fund, révèle Funds People. De fait, Jupiter entend utiliser ce véhicule pour commercialiser en Espagne sa gamme de fonds, qui comprend 15 produits, sans toutefois préciser ceux qui seront effectivement mis à la disposition des investisseurs espagnols. Allfunds Bank a été retenue pour réaliser cette commercialisation, précise le site d’information espagnol. « Nous pensons qu’il existe d’importantes opportunités pour développer nos relations en Espagne », a sobrement commenté Kevin Scott, responsable de la clientèle pour l’Europe, le Moyen-Orient et l’Afrique.

P { margin-bottom: 0.08in; } Haitong International Securities Group on 7 March listed its first ETF compatible with renminbi qualified foreign institutional investor (RQFII) rules on the Hong Kong stock market, entitled Haitong CSI300 Index ETF, Asia Asset Management reports. Haitong becomes the first financial firm based in Hong Kong to issue an RQFII ETF. The product will be overseen by Hai Tong Asset Management, an affiliate of Haitong International Securities Group, and will invest directly in shares of the CSI300, with a similar weighting to their respective weights in the index. As of the end of February, Haitong International Securities group had a total of CNY6.7bn (USD1.06bn) in RQFII quotas via its parent company, Haitong International Holdings.

P { margin-bottom: 0.08in; } The UCITS Alternative index from the Swiss frim Alix Capital gained 1.06% in February, after a decline of 0.38% in January. Only 2 strategies out of eleven finsihed the month with losses: currencies (-0.278%), and volatility (-0.08%). The UCITS hedge fund index gained 0.94% in February, after a decline of 0.07% in January.

P { margin-bottom: 0.08in; } Spanish individual pension funds are small in size. According to preliminary data from the Vdos Stochastics agency as of 21 February their assets have risen very modestly by 0.78%, or EUR451m, to a total of EUR58.15bn, Those favourable growth is largely due to a revaluation of underlying portfolios totalling EUR474m. However, Spanish pension funds have seen an outflow of EUR23m in the month of February.

P { margin-bottom: 0.08in; } ING Investment Management is planning to recruit four Asian equity specialists for its investment centre in Singapore, Citywire Asia reports. The recruitments, which will include managers and analysts, will be followed by the launch of global and regional products for Asian clients.

P { margin-bottom: 0.08in; } The Korean pension fund Public Officials Benefit Association (POBA), which has USD5.5bn in assets under management, has launched a request for proposals from international fund of hedge fund companies, for a USD50bn mandate, which may be increased to USD80bn depending on performance, Asia Investor reports. In order to be eligible, interested managers are required to offer custom products, have at least USD10bn in assets under management, at least 10 years experience in the management of funds of hedge funds, and lastly, have an asset base which includes at least 30% institutional investors.

P { margin-bottom: 0.08in; } The open architecture platform market in Europe has reached EUR1.27trn under administration as of third quarter 2013, compared with EUR958bn one year previously, and EUR740bn in third quarter 2011, according to the Platform guide to European platforms and open architecture. The five largest European actors in the market in terms of assets are UBS Fondcenter, Allfunds Bank, Credit Suisse, Cofunds and BNP Paribas Securities Services.

The arrival of Denis Panel at Theam coincides with a new organisation which the asset management firm of the BNP Paribas IP group wanted to be more simple, legible and closer to its clients. This means that the firm's activities are now based only on three pillars, down from four previously. The director discusses the new strategy at Theam with Newsmanagers.

P { margin-bottom: 0.08in; } A whistleblower in the United States has informed the US authorities of doubtful practices at Credit Suisse, the newspaper Tagesanzeiger reports in its 7 march issue. The person is reported to be Anthony DeChellis, CEO of Private Banking US at the large bank from 2006 until spring 2013. DeChellis’ statements raise doubts about a correction which resulted in several billions of dollars being written down as a net inflow. Citing Bloomberg, the newspaper states that the SEC has opened a case against Credit Suisse in the matter. The case concerns the assets of Hansjörg Wyss, founder of Synthes, which were written down by Credit Suisse as a net inflow in 2012, and were then transferred between the United States and Switzerland. For Credit Suisse, this meant a significant outflow in Switzerland became a net inflow to the United States. The information is reported to have been supplied by DeChellis, the newspaper states.

P { margin-bottom: 0.08in; } The Italian asset management firm Anima SGR has reshuffled its fund product range, it has confirmed to Citywire Global. Among the major changes are the merger of the Euro Equity and European Equity funds into the Anima SICAV – European Equities fund, managed by Lars Schickentanz.

P { margin-bottom: 0.08in; } Seth Klarman, one of the most respected investors in the world, is warning against a bubble in the price of assets and a sudden correction on financial markets, the Financial Times reports. The head of the hedge fund firm Baupost Group (USD27bn) claims that investors are underestimating the risks and are not ready for the end of accommodating monetary policities.

A week dominated by the political crisis in the Ukraine saw Russia and Switzerland Equity funds post their biggest inflows since late 4Q13 and early 2Q08 respectively.Another USD9.6 billion flow into US equity funds, while emerging markets equity funds suffered net redemptions for the 19th straight week and flows into Europe equity funds fell to a 16 week low, according to estimates by EPFR Global. The first week of March was also a tough one for fund groups tied to Asia and its markets. Redemptions from Asia ex-Japan equity funds hit their highest level in over two years, Japan equity funds posted outflows for the first time year-to-date.Overall, flows into equity funds during the week ending March 5 totaled USD7.47 billion, with institutional investors accounting for over 90% of the commitments to developed markets equity funds and two-thirds of the redemptions from emerging markets equity funds.A net USD1.8 billion flowed out of bond funds and USD15.9 billion out of money market funds.

P { margin-bottom: 0.08in; } The hedge fund index calculated by Lyxor in February gained 1.9%, driving up gains in the first months of the year to 1.45%. Eleven of the 12 Lyxor strategy indices has finished the month under review in positive territory, including the Lyxor special situations index (3.48%), the Lyxor CTA Long Term (3.4%) and the Lyxor L/S Equity Long Bias (2.7%).

En ce début d’année, le contraste est frappant. Le monde développé affiche un optimisme de plus en plus évident alors que les pays émergents marquent le pas. L’optimisme des entreprises se retrouve même à son plus haut niveau depuis deux ans, selon le dernier Markit Global Business Outlook Survey, une enquête réalisée en février auprès d’un panel de 11.000 entreprises.Cet optimisme croissant, qui se traduit par des projets d’investissement et des intentions de recrutement tranchent avec les perspectives beaucoup plus sombres dans les pays émergents. Par rapport à l’an dernier, les perspectives de croissance de l’activité ont fortement augmenté aux Etats-Unis, dans la zone euro et au Royaume-Uni. Dans le monde développé, le Royaume-Uni se distingue avec un optimisme qui se retrouve à son plus haut nivea u d’après-crise et qui dépasse celui de toutes les grandes économies développées et émergentes à l’exception notable du Brésil, où la perspective d’une coupe de monde de football et des Jeux Olympiques ont redonné du tonus aux entreprises.Malgré quelques statistiques décevantes ces derniers temps, l’enquête montre que les entreprises américaines n’ont jamais été aussi optimistes depuis le début de 2013, avec des intentions de recrutement à leur plus haut niveau depuis un an, et des dépenses d’investissement qui devraient enregistrer leur plus forte progression depuis la fin 2009 (début de la collecte des données).Dans la zone euro, l’optimisme est à son plus haut niveau depuis trois ans, le rebond de la croissance s’accompagnant d’une hausse de l’investissement et du recrutement. Le niveau d’optimisme dans la zone est toutefois en retrait par rapport au Royaume-Uni et aux Etats-Unis. Mais l’optimisme est à son plus haut niveau en Espagne et en Allemagne alors que, selon les entreprises françaises, les perspectives n’ont jamais été aussi favorables depuis la mi-2011. Du côté des pays émergents, la Russie et l’Inde se retrouvent à des niveaux de pessimisme jamais vus. Au Brésil, l’optimisme se maintient à un niveau élevé malgré une moindre confiance alors qu’en Chine, l’optimisme semble en train de reprendre le dessus.

P { margin-bottom: 0.08in; } Inflows to ETF/ETPs as of the end of February totalled USD29bn, which, combined with a positive market effect, have contributed to an increase in assets under management to a record USD1.44trn, according to estimates from ETFGI. Bond ETF/ETPs attracted USD16.8bn, compared with USD10.2bn for equity funds and USD870m for commodity funds. The competition remains lively in the sector, with the top 100 ETF/ETPs, less than 2% of the 5,183 funds on record, totalling more than half of assets (57%). Only 7% of ETF/ETPs have assets of over USD1bn, while 69% have total assets of under USD100m, and 59% have assets of under USD50m. One third of all products have less than USD10m in assets. In the first two months of the year, Vanguard tops inflows with a total of USD9.4bn, followed by iShares (USD7.1bn), Nomura AM (USD4.2bn), First Trust (USD2.5bn), and Guggenheim (USD2bn).

P { margin-bottom: 0.08in; } Jasper Bugter on 3 March joined State Street Global Advisors (SSgA) in Amsterdam to serve as senior manager of relationships with clients, IPE.com reports. Bugter will report directly to Robert Rijlaarsdam, head of the Benelux team at the US asset management firm. Before joining SSgA, Bugter worked at Generali Investments Europe in Amsterdam, and previously at Robeco.

P { margin-bottom: 0.08in; } The Spanish asset management market has gained a new actors. The British firm Jupiter Fund Management has registered its Luxembourg Sicav Jupiter Global Fund with the Spanish regulator, the CNMV, Funds People reports. Jupiter plans to use the vehicle to sell its fund range, which includes 15 products, in Spain, though its does not state which ones will be made available to Spanish investors. Allfunds Bank has been retained to carry out sales, the Spanish website adds. “We think there are important opportunities to develop our relationships in Spain,” says Kevin Scott, head of clients for Europe, the Middle East and Africa.

P { margin-bottom: 0.08in; } Following ABN Amro, Rabobank has decided to withdraw investment funds from Franklin Templeton from its offerings, Fondsnieuws reports. The reason for the decision is the fact that Rabobank no longer wishes to include companies in its portfolio which manufacture controversial weapons such as cluster bombs.

P { margin-bottom: 0.08in; } Allianz Global Investors has modified most of the sectoral bets of its BRIC Stars fund, following the departure of manager Michael Konstantinov, Citywire reports. The fund was taken over by the San Diego team, led by Kunal Ghosh, in October 2013. The fund, whose assets under mangement total about USD480m, has reduced its exposure to basic consumer products and financials, in preference to discretionary consumer products and IT.

P { margin-bottom: 0.08in; } Residential real estate prices in Germany are highly varied, as prices observed in the most sought-after west German cities are 60% higher than in cities in the east of the country, according to a study by the real estate research agency at the university of Ratisbonne (IREBS), in partnership with Deutsche Bank. According to the study, cities in west Germany fall into four categories. Firstly seven cities are in a top tier, with prices rising faster than average int eh apst few years. These include Munich, which is uncontestably the most expensive city in Germany. The second group is university cities, where a growing number of students are also driving prices up, such as Freiburg im Breisgau. These are followed by cities which have recently seen sharp price rises, such as Bremerhaven and Schweifurt. Lasty, the study identifies structurally weak cities, which are mostly located in the Ruhr and the north of Germany (Gelsenkirchen, Lübeck).

P { margin-bottom: 0.08in; } Helen Zhu, who has spent eight years at Goldman Sachs, will join BlackRock from 7 April as managing director and head of equities for China, Asia Asset Management reports. At Goldman Sachs, she had most recently been managing director and chief China equity strategist, after working in the global investment research division of the US bank for the Asian market, covering the telecom and internet sectors in particular. Over her career, Zhu also worked for five years at ABN Amro, where she covered equity research for the telecom sector.

P { margin-bottom: 0.08in; } A general shareholders’ meeting at Anima Holding has selected Claudio Bombonato as its new chairman, Bluerating reports. He succeeds Giuseppe Zadra, who declined the invitation to chair the Italian firm for a further three years. Bombonato, an aeronautical engineer, worked at McKinsey for several years.

P { margin-bottom: 0.08in; } Schroders has set aside GBP15m to fund potential financial penalties that it may be asked to pay at the outcome of investigations in the United States into companies which are thought to have helped US citizens to evade taxes, Financial Times fund management reports. The asset management firm says that fines would be for its Swiss private bank. Schroders is voluntarily participating the US department of justice programme to encourage financial institutions to identify client accounts which may not comply with tax law.

P { margin-bottom: 0.08in; } Legal & General is in the process of closing the Global Macro Themes fund, which has GBP222m in assets, as its current manager, Ben Gill, is leaving the firm, Investment Week reports. The absolute return fund will be closed on 25 April this year, as investors have selected either to be reimbursed or to transfer their assets to another Legal & General vehicle. The fund, most of whose GBP222m in assets come from internal sources, according to the website, reached GBP590m in assets at its peak.

P { margin-bottom: 0.08in; } Nomura Asset Management is overhauling its management. Kunio Watanabe has been appointed as CEO of the Japanese asset management firm, effective from 1 April, replacing Toshihiro Iwasaki. The appointment comes as part of a more profound overhaul of the teams at the Nomura group. Watanabe is currently head of international clients, since April 2013. He will be replaced by Fumiki Kondo, currently CEO of Instinet, an affiliate of Nomura responsible for equity execution services, who from 1 April, will become head of international clients. As a result of this move, Nomura has appointed Jonathan Kellner, currently head of US activities at Instinet, at CEO of Instinet, replacing Kondo.

P { margin-bottom: 0.08in; } The Vontobel group now counts UBS among its clients for its structured product issue platform deritrade. UBS now offers its structured products on deritrade, along with Deutsche Bank, Morgan Stanley and Société Générale, Vontobel announced in a statement on 7 March. The platform is developing as expected, to become a major market player, Vontobel states.