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22/03/2012

Qatar controls 2% of capital in Vivendi

Qatar Holding, the Qatar sovereign fund, has since the beginning of the year increased its stake in the Vivendi group, a document from the telecoms and entertainment group announces. Qatar, which had already acquired 1.55% of capital in Vivendi in 2011, held 24,96 million shares as of the end of February, equivalent to about 2% of capital, the document states, confirming information published by the website WanSquare. The acquisition, which represents an investmnt of EUR356m at current share prices, comes in addition to a long list of investments already made by the emirate in French businesses. Qatar, which has recently increased its stake in the Lagardère media group to 12.8%, has also invested in Total, LVMH and Vinci.
22/03/2012

AlphaPlus launches a dynamic version of its AR fund

In addition to the AlphaPlus Absolute Return fund, the Spanish asset management firm AlphaPlys has launched the Luxembourg fund AlphaPlus Absolute Return Plus, a more dynamic version, which aims for annual returns of 5-8%, with average volatility of 6%, Funds People reports. The product is managed by Francisco Esteban, for the tactical portion, and Edwin Voerman, for the mid-term and pair trading portion. The fund is a multi-asset class product (equities, bonds, currencies, fixed income and commodities ETFs), with a management commission of 0.55%, and a performance commission of 9%.
22/03/2012

Merchant Capital and Astor release an ETF fund

The CNMV has issued a sales license for the UCITS-compliant fund Merchant Astor Long/Short UCITS, from Merchant Capital, which applies a strategy by the US firm Astor Asset Management, an affiliate of Knight Capital Group, Funds People reports.The absolute return product invests in 15 to 20 ETF funds replicating the most favourable indices depending on the position in the economic cycle.
22/03/2012

Catella recruits a former director from Schroders

Catella engages Ubbe Strihagen to strengthen Catella’s asset management within the real estate segment. Most recently, he held the position of director at fund manager Schroders Investment Management, where for the past four years he has been responsible for property funds in the Nordic region and Benelux countries.Catella has assets totalling approximately SEK 17 billion under management in real estate-related investment management mandates and funds. The operations are conducted through Catella Real Estate KAG in Munich and Amplion Asset Management OY in Helsinki. In close cooperation with these operations, Ubbe Strihagen will develop new investment products. The focus will lie on offering institutional investors in the Nordics and Benelux new products primarily allocated on other markets than the native markets. The Catella Group has assets under management totalling approximately SEK 34 billion, of which SEK 17 billion are managed within the property area and SEK 17 billion within equity, fixed income and hedge products.
22/03/2012

Guangdong hands off its assets to Social Security Fund

The Chinese government council has granted its approval for the province of Guangdong to award a two-year management mandate for the management of its CNY100bn in local assets to the Chinese National Council for Social Security Fund (NCSSF), Z-Ben Advisors reports. A part of the assets will be given to third-party asset management firm, and the NCSSF has already received applications from 18 asset management firms for these mandates.
22/03/2012

iShares cooks up an actively-managed govies ETF

On 5 March, iShares (BlackRock) applied to the SEC for a license for an ETF of selected government bonds, the iShares Sovereign Screened Global Bond Fund, whose fee level has not yet been set The fund will be actively managed, without replicating an index, and will invest at least 80% of its assets “in normal circumstances” in bonds denominated in local currencies or US dollars issued by governments of developed and emerging countries that are in the BlackRock Sovereign Risk Index universe, which as of the end of September included 44 eligible countries. The objective is to prefer exposure to high quality government bonds over those in a fund which replicated the performance of a larger index of government bonds, which would give a larger weight to governments which issue more debt. iShares states that the ETF may have a higher turnover rate than products which replicate an index.Securities lending will be limited to one third of total assets in the fund, including collateral value.
22/03/2012

Van Eck launches an ETF of Indonesian small caps

Market Vectors ETF Trust (Van Eck group) has announced the launch of the Market Vectors Indonesia Small-Cap ETF (acronym on NYSE Arca: IDXJ), its second ETF dedicated exclusively to Indonesia.As its name indicates, the product is focused on small caps, and replicates the Market Vectors Indonesia Small-Cap Index (MVIDXJTR) from the German asset management firm Market Vector Index Solutions GmbH.In order to join the index, which currently includes 39% financial sector businesses, 18% industrials, 17% energy sector and 15% consumer goods businesses, firms must have a market capitalisation of over USD150m, and a daily trading volume of at least USD1bn over three months, as well as an average monthly trading volume of 250,000 shares over the past six months. At launch, the average capitalisation of the fund was USD688m.The new ETC will charge 0.61% at least until 1 May 2013.
22/03/2012

Gougenheim puts of launch of a fund

The former head of hedge funds from Unigestion, Philippe Gouhengeim, will launch his first fund, Glasnost Fund, in September, rather than 1 June. He made the announcement in a statement explaining that the delay is due to a ski accident in which his right Achilles tendon was ruptured. Gougenheim, who founded Gougenheim Investments in February, has announced that he has nonetheless selected JP Morgan as prime broker for the fund, and Pictet as custodian and administrator.
22/03/2012

Assets down at Generali

In its asset management business Generali had total assets under management at EUR424,433 million at the end of 2011 (vs EUR 432,043 million FY10), with third-party assets at EUR88,207 million (+3.4% on a like-for-like basis). The operating result in the Financial Services segment was EUR342 million (EUR354 million FY10). «The trend (-3.3%) was particularly affected by the decrease in net commissions, reflecting trends on the financial markets. The net result on financial operations improved, thanks specifically to the increase in the intermediation margin», according to a financial statement.
22/03/2012

East Capital merges two funds

The announced merger of the Convergence Eastern European Sub-fund into the Eastern European Sub-fund in East Capital (lux) has now been executed, says East Capital in a press release.
22/03/2012

Lyxor lists three more bond ETFs in Frankfurt

Deutsche Börse has announced that a further three ETF funds from the French firm Lyxor Asset Management (Société Générale group) have been admitted to trading on the XTF segment of the Xetra electronic platform, bringing the total number of funds listed on the segment to 947.These include three French-registered bond ETFs, each of which charge fees of 0.165%, the Lyxor ETF EUROMTS AAA Macro Weighted Government 1-3Y, the Lyxor ETF EUROMTS AAA Macro Weighted Government 3-5Y and the Lyxor ETF EUROMTS AAA Macro Weighted Government 5-7Y.
22/03/2012

GAM launches an emerging markets equity fund

The Swiss asset management firm GAM has announced the launch of the GAM Star Emerging Equity fund, a UCITS-compliant long-only fund investing in emerging markets equities, in London. The portfolio of the Irish-registered product available in 10 currencies will include 100 to 150 positions.The two co-managers, Tim Love and Joaquim Nogueira, will use a fundamental valuation approach, which combines exclusive securities selection tools with a top-down thematic overlay and timing strategies.The fund currently has a sales license in Ireland, the United Kingdom and Luxembourg.CharacteristicsName: GAM Star Emerging EquityISIN code: IE00B55Y9W63Management commission:Institutional share class: 0.90%Ordinary share class: 1.50%
22/03/2012

AEW Europe crée un fonds de dettes de 500 millions d’euros

Le gestionnaire d’actifs a confirmé à Business Immo le lancement d’un fonds de dette immobilière, d’une capacité d’investissement de 500 millions d’euros. «Ce fonds cible la dette hypothécaire senior avec un ratio de loan to value (LTV) de 60 % maximum et pour sous-jacents des actifs de bureaux, commerces et logistiques », précise le site internet. Trois marchés sont ciblés: la France, le Royaume-Uni et l’Allemagne.
22/03/2012

Le FMI accorde 500 millions d'euros à la Roumanie

Le Fonds monétaire international a débloqué 500 millions d’euros supplémentaires à titre de précaution pour la Roumanie. Cela porte à 2 milliards d’euros le plafond de la facilité de crédit mise à disposition de Bucarest.
22/03/2012

Paris se penche sur la hausse des prix du pétrole

«La France étudie avec ses partenaires toutes les options possibles pour lutter contre la hausse du prix du pétrole. La libération d’une partie des stocks stratégiques des pays industrialisés constitue l’une de ces options», a indiqué le Ministère de l’Industrie et de l’Energie.
22/03/2012

Coe-Rexecode esquisse un environnement plutôt favorable

Selon les projections économiques mondiales pour 2012-2013, la nouvelle équipe gouvernementale qui va se mettre en place en France bénéficiera d’un environnement économique plutôt favorable. Le taux de croissance mondiale est attendu à 3,8% en 2013, après 3,3% en 2012. En France, il remontera de 0,6% cette année à 1,4% ou plus l’an prochain.
22/03/2012

Les défauts de crédit ont reculé en 2011

Selon l'étude de défaillance annuelle de S&P, 53 émetteurs ont fait défaut l’an dernier, contre 81 en 2010 et 265 en 2009. Les montants de dette concernés s'élèvent à 84,2 milliards de dollars (95,7 milliards en 2010). 52 des 53 émetteurs défaillants étaient notés en catégorie «spéculative» au début de 2011. Au niveau mondial, le taux de défaillance s'établit à 0,75% en 2011 contre 1,15% en 2010.
22/03/2012

Collecte positive en février du Livret A et du LDD

La collecte du Livret A et du Livret de Développement Durable au titre du mois de février 2012 est positive avec 2,1 milliards d’euros pour l’ensemble des réseaux. Sur les deux premiers mois de l’année, elle s’élève en cumulé à 6,97 milliards d’euros. L’encours total sur les deux produits atteint ainsi 293,8 milliards d’euros à fin février 2012.
22/03/2012

Groupama AM se tourne vers l'international

La filiale du groupe mutualiste d’assurance a souffert en 2011. Son résultat net a reculé de 10% à 23 millions d’euros, mais de 24% si l’on exclut l’effet de l’intégration de Groupama Fund Pickers. Son activité dépend encore trop de sa maison mère, en difficulté.
22/03/2012

Les contrats futures sur OAT renaissent

Eurex lancera le 16 avril un contrat sur la dette française. Depuis l'échec du Matif à la fin des années 90, les futures sur le Bund allemand détiennent le monopole de ce marché en zone euro, au grand dam du Trésor. Reste à attirer la liquidité pour assurer le succès du nouveau contrat.
APP 2017 - 5
22/03/2012

Berlin opposé au «Buy european act»

Le gouvernement allemand serait opposé à la proposition avancée par le président français, Nicolas Sarkozy, de créer un «Buy european act» visant à privilégier les entreprises européennes pour les contrats publics. Un tel plan créerait une «forteresse Europe» et enverrait un «signal protectionniste» à la Chine qui pourrait être tentée par des mesures de rétorsion, selon le journal qui cite un officiel allemand.
APP 2017 - 17

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