Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
02/03/2010

JPMAM recruits a director from T. Rowe Price

John Holcombe, head of wealth management services for the external distribution division of T. Rowe Price, on 1 March joined JPMorgan Asset Management (JPMAM) in the newly-created position of senior relationship manager specialised in distribution to banks and trust departments, Mutual Fund Wire reports. Holcombe will report to Jed Laskowitz, head of distribution to broker-dealers, insurers, banks and registered investment advisers (RIAs).
02/03/2010

CESR establishes MIF database

The Committee of European Securities Regulators (CESR) on 1 March announced that it has established a specific database on its website to meet the transparency requirements of the MIF directive for information on shares added to trading on regulated markets, which will be available to all market participants. With this in view, the CESR has announced that it will establish an amended protocol describing the cooperation agreements between CESR members, and the Committee secretariat to manage the calculation and publication of data which ensure the transparency of the market, as required by the MIF directive. The guide states that collection of market data also concerns the three largest trading platforms in terms of market share, which are BATS, Chi-X and Turquoise.
02/03/2010

EUR35bn in subscriptions for asset management in 2009

With subscriptions of EUR20.8bn in fourth quarter, the Italian asset management sector finished 2009 with net inflows of over EUR35bn, Assogestioni, the Italian association of management professionals, reports. As of the end of 2009, assets under management by the sector overall totalled EUR950bn, of which 82% was managed by Italian firms. Open-ended funds finished the year with assets of EUR438bn, thanks to net subscriptions of EUR6.4bn. Assogestioni emphasizes that assets in foreign-registered funds outweighed those in Italian-registered products, with 52% of assets in the former, totalling EUR226bn, and 48% in the latter, at EUR212bn.
02/03/2010

FSA finalises new regime of financial sanctions

The British financial market regulator, the FSA, on 1 March published its new policies for fines. The new framework is more consistent and transparent, and may potentially result in maximum fines three times higher than previously.The new matrix for calculating fines ties penalties more closely to revenues, up to 20% of earnings from the activity deemed to be improper in the period concerned, and up to 40% of remuneration (including bonuses) for employees. A minimum fine of GBP100,000 will be set for serious market abuse cases. The new regime, which has received far from unanimous support from the financial industry, will come into force on 6 March. According to the FSA, record fines were already levied in 2009, but the new approach will increase the dissuasive effect of fines.
02/03/2010

UCITS funds in a growth spurt

In 2009, UCITS funds saw inflows of EUR123bn, compared with outflows of EUR356bn in 2008, according to statistics from the European fund and asset management association (EFAMA). The association points out that this growth dynamic, which began in April 2009, has not lost momentum since that time. UCITS funds domiciled in Luxembourg and the United Kingdom represented 81% of these EUR123bn in inflows, with 54% and 27% of the market, respectively, far ahead of Germany, France and Sweden, which had 7% of the market each. Long-term UCITS funds (excluding money market funds) posted net inflows of EUR165bn for the year as a whole, due to positive inflows of EUR66bn to equities funds, EUR72bn to bond funds, and EUR44bn to diversified funds. The erosion of money market funds resulted in outflows of EUR43bn, following inflows of EUR64bn in 2008. Demand for non-UCITS funds was strong, however: dedicated funds for institutionals saw EUR48bn in inflows in 2009, while real estate funds saw inflows of EUR4bn.
02/03/2010

Asset managers launching financing funds

Management firms are seeking to fill a gap in the lending market ignored by the banking sector and governments, Financial Times Fund Management reports. Many firms are seeking to raise capital for funds which would offer loans to businesses with an urgent need for credit, or provide financing for infrastructure development. FT FM cites the examples of Hastings Fund Management, Trafalgar Capital Advisors, and Aviva Investors.
02/03/2010

Stoxx indices to be renamed

Stoxx Limited announced on Monday that it is dropping the “Dow Jones” prefix to the name of all its indices. The changes, which will take effect immediately, will affect European regional and thematic indices. The removal of the name reflects the new shareholder structure of Stoxx: Deutsche Börse and Six Group have acquired Stoxx Limited, which was previously owned by Dow Jones. The use of the Dow Jones name in the names of licensed financial products is authorised until the end of 2010. All Stoxx regional indices covering European markets will also now include the word “Europe” in their names.
02/03/2010

Franklin Templeton recruits a former Evergreen manager

Franklin Templeton Investments has announced that Aman Gupta has been appointed as an analyst for healthcare and its subsectors worldwide for Franklin Mutual Series, the group’s deep value affiliate. Gupta was previously at Evergreen investments, the management firm of the Wachovia group which was absorbed a month and a half ago into Wells Fargo Advantage Funds (see Newsmanagers of 15 January). Gupta will be based in Short Hills, New Jersey, at the headquarters of Mutual Series.
02/03/2010

CalPERS may lower projected return rate

CalPERS is considering reducing the projected rate of return used by the giant pension fund to make investment decisions. Since 2003, the California Public Employees’ Retirement System has assumed that the value of its stocks, bonds and other holdings would increase by 7.75% a year. The board has been encouraged to shrink its projected rate of return to as low as 6%.
02/03/2010

Changing of the guard at Dodge & Cox

Kenneth E. Oliver, who has been president of the firm since 2006, will additionally become CEO of Dodge & Cox from 31 March 2010. On 31 March 2011 he will become chairman, replacing John A. Gunn, who is chairman and CEO of the firm until 31 March 2010, and who will become chairman emeritus one year later. Olivier will remain a member of the investment policy committee at the management firm. Dodge & Cox also states that Dana M. Emery and Charles F. Pohl, currently executive vice president and senior vice president, will become co-presidents of the firm from 31 March 2011. They will retain their respective positions as head of fixed income and CIO.
02/03/2010

MSCI acquires RiskMetrics for USD1.55bn

The New York-based provider of corporate governance and risk management products and services RiskMetrics Group has agreed to be acquired by MSCI for a total of USD1.55bn in cash and shares, equivalent to USD21.75 per share. The index provider will pay USD16.35 per RiskMetrics share in cash, plus 0.1802 of a MSCI share per share in RiskMetrics. The new entity will have annual revenues of USD750m, with 2,000 employees in 20 countries. The transaction will be completed in third quarter.
02/03/2010

Deutsche Bank granted an Islamic banking license in Malaysia

Deutsche Bank announced on Monday that it has obtained an international Islamic banking license from the Bank Negara Malaysia, which will allow it to provide commercial banking and currency investment services to institutional clients throughout Asia. The agreement will allow Asian clients to have easier access to the German group’s global Islamic banking platform and to its Sharia-compliant products, says Raymond Yeoh, Chief Country Officer for Deutsche Bank (Malaysia) Berhad.
02/03/2010

Goldman Sachs AM adds to Scandinavian staff

Goldman Sachs Asset Management (GSAM) has made an addition to its Scandinavian team with the recruitments of Mårten Bäck and Philip Mikkelsen. The management firm now has six personnel to cover Scandinavia. Bäck, who will be based in Stockholm, was previously head of manager research at SEB Wealth Management. At GSAM, he will be in charge of building relations with the major distributors in Northern Europe. Mikkelsen joins the firm from Danske Bank, where he was jead of Scandinavian institutions. He will now occupy the same position at GSAM. Sheila Patel, co-head of GSAM for Europe, says in a statement that the Scandinavian countries are a priority for the management firm. The recruitments appear to be part of a European expansion strategy, according to an article in Financial News Online on 1 March, which adds that GSAM has more than doubled the size of its distribution team in Europe in the past six months, to 70 total. Recruitments are also planned in France.
02/03/2010

Standard Chartered appoints a head of sales in Singapore

The former hedge fund manager Paul Absalom has joined Standard Chartered, according to Asian Investor, in the newly-created position of head of distribution for Singapore. He will report directly to Adrian Walkling, international head of distribution to financial institutions. In his new responsibilities, Absalom will be in charge of major accounts in the Asian region and clients served from Singapore. Absalom previously worked for HSBC in Hong Kong as head of sales to hedge funds and central banks.
02/03/2010

RBS Coutts builds presence in Hong Kong

The British private bank RBS Coutts, which last year lost about 70 employees in Singapore, is rebuilding its presence in the region with the transfers to Hong Kong of Nick Cringle, co-chief investment officer for the London firm, in the next few weeks. Asian Investor reports that RBS Coutts has also appointed Manfred Liechti as head for South-East Asia.
02/03/2010

JOHambro bets on emerging markets

The British management firm JOHambro Capital Management (JOHCM) on 1 March announced the recruitment of two emerging markets specialists, Emery Brewerr and Ivo St Kovachev. The appointments come at a time when JOHCM is preparing to launch the JOHCM Global Emerging Markets Fund. Brewer, who previously managed the Driehaus Capital Management Emerging Markets Growth Fund, has 15 yeasr of experience in emerging markets. St Kavachev, who was co-manager of the Driehaus European Opportunities Fund, has more than 15 years of experience in the asset management industry.
02/03/2010

HSBC private banking loses momentum

Taxable profits from private banking activities at the HSBC group were down 21% last year to USD1.1bn. “Private banking clients, facing a period of great uncertainty, lost much of their appetite for risk in terms of investments as well as their demand for credit, which led to a reduction in revenues for us,” HSBC explains in a statement. Overall net inflows were down last year, but the group, which increased its presence in emerging markets, says that net inflows from emerging countries and from within the group totalled USD6.6bn. Assets under management increased 6% to USD460bn. Taxable profits for the HSBC group, for their part, were down by nearly 24% to USD7.1bn.
02/03/2010

JP Morgan AM plans to launch a Brazil fund

Investment Week reports that JP Morgan Asset Management is planning to launch a fund dedicated to Brazil, the JP Morgan Investment Trust, to take advantage of economic growth in the region. The fund will have a target volume of GBP50m, and its two managers, Sebastian Muparia and Luis Carillo, are planning to maintain 25 to 50 positions, selected with a bottom-up approach. The benchmark will be the MSCI Brazil 10/40.
02/03/2010

RBS Coutts se renforce à Hong Kong

La banque privée britannique RBS Coutts, qui a perdu l’an dernier quelque 70 collaborateurs à Singapour, reconstitue ses forces dans la région avec le déménagement à Hong Kong de Nick Cringle, co-chief investment officer de l’entité londonienne, dans les prochaines semaines.Selon Asian Investor, RBS Coutts a également nommé Manfred Liechti en tant que responsable de l’Asie du Sud-Est.
02/03/2010

Standard Chartered nomme un responsable des ventes à Singapour

L’ancien gérant de hedge fund Paul Absalom vient de rejoindre Standard Chartered, selon Asian Investor, pour occuper le poste nouvellement créé de responsable de la distribution à Singapour. Il sera directerment rattaché à Adrian Walkling, responsable international de la distribution auprès des institutions financières.Dans ses nouvelles fonctions, Paul Absalom sera responsable des grands comptes dans la zone asiatique et de la clientèle servie à partir de Singapour.Paul Absalom a travaillé auparavant pour HSBC à Hong Kong en tant que responsable des ventes auprès des hedge funds et des Banques centrales.
01/03/2010
Fonds

Dotation exceptionnelle au Fonds de réserve pour les retraites

Le conseil des ministres espagnol de vendredi a décidé d’attribuer une dotation exceptionnelle de 1,74 milliard d’euros prélevé sur les excédents de 2008 au Fonds de réserve de la Sécurité sociale. «La cagnotte des retraites» passera ainsi à 62,5 milliards d’euros, rapporte El País.
Fonds
01/03/2010
Fonds

22 sicav sont réputées illiquides

Expansión rapporte que 22 sicav ont notifié à la CNMV qu’elles sont dans l’incapacité de racheter les parts présentées au remboursement sans tomber en dessous du plancher réglementaire de 2,4 millions d’euros ou de leur capital initial. Parmi elles figurent Nomit III International, qui est contrôlée par Ignacio de Polanco, président de Prisa, et Kalyani, qui appartient à la famille du milliardaire Ram Bhavnani.
Fonds
01/03/2010

WestInvest renforce son état-major

Mark Wolter, directeur général de Schroder Property KAG a été nommé membre du comité exécutif de la société de gestion WestInvest, filiale de Deka (caisses d'épargne allemandes). Il y sera plus particulièrement responsable de la gestion de fonds immobilier et, sur ce créneau, des produits institutionnels, un segment que le groupe Deka a l’intention de développer tout particulièrement.
01/03/2010

Metzler reste optimiste

Emmerich Müller, l’un des deux associés-gérants, a indiqué dans un entretien que la banque privée Bankhaus B. Metzler seel. Sohn & Co a terminé 2009 avec un résultat stable et qu’il reste optimiste pour 2010, même si la période risque d'être agitée, rapporte la Frankfurter Allgemeine Zeitung.Le banquier estime qu’il existe encore un potentiel dans la gestion de fortune, même si les taux de croissance sont appelés à baisser. Metzler avait terminé 2008 avec un encours de 29 milliards d’euros et un quotient de fonds propres de premier rang (tier one) de 15,1 %.
01/03/2010
Fonds

Bilan globalement positif pour la gestion de fonds en 2009

En 2009, l’encours des sociétés de gestion allemandes s’est accru de 170,7 milliards d’euros, dont 33,1 milliards provenant des souscriptions nettes et 137,6 milliards attribuables à l'évolution positive des marchés. Pour les fonds institutionnels, l’effet de marché a représenté 54,3 milliards d’euros tandis que les rentrées nettes ont atteint près de 31 milliards d’euros, selon les calculs de l’agence Kommalpha. Les fonds d’actions ont enregistré des souscriptions nettes de 14,6 milliards d’euros et leur encours a gonflé de 43,3 milliards d’euros tandis que les fonds monétaires ont subi des remboursements nets d’environ 30 milliards d’euros et que les fonds obligataires affichaient des sorties nettes de 898 millions d’euros.Enfin, Kommalpha souligne que les fonds offerts au public de droit luxembourgeois ont accusé des rachats nets de 15 milliards d’euros pendant que ceux de droit allemand bénéficiaient de rentrées nettes supérieures à 11 milliards d’euros.
Fonds
01/03/2010

MPC: Alexander Betz devient membre du directoire

Alexander Betz, fondateur de abs et eFonds24, devient au premier avril membre du directoire de MPC Capital AG en remplacement de Ulrich Oldehaver. Par conséquent, il quitte le directoire de eFonds et y intègre le conseil de surveillance.
01/03/2010
Fonds

LBBW lance un fonds long/short matières premières

La société de gestion LBBW Asset Management (LBBW AM), filiale de la Landesbank Baden-Württemberg (LBBW), a annoncé avoir lancé le 19 février le premier fonds de matières premières long/short sur le marché allemand. Il s’agit d’un produit de droit allemand conforme à la directive OPCVM III qui porte le nom de LBBW Rohstoffe 2 LS parce qu’il s’inscrit dans la continuité du LBBW Rohstoffe 1 lancé en 2008, avec cette nuance qu’il peut vendre à découvert. Le fonds est destiné aux investisseurs institutionnels. Il vise à tirer profit des particularités de la courbe des futures (déport ou backwardation ou report ou contango) pour moduler l’exposition aux différentes matières premières des secteurs énergie, métaux de base, métaux précieux, matières premières agricoles et élevage. Chaque matière première est plafonnée à 20 % des positions longues ou courtes, sachant que toutes les matières premières retenues dans l’indice LBBW-Long-Short-Rohstoff-Index ER sont équipondérées à 10 %, avec rebalancement tous les trois mois.Caractéristiques Dénomination : LBBW Rohstoffe 2 LS Isin : DE000A0X97E0 Droit d’entrée : néant Commission de gestion : 0,80 % Souscription minimale : 75.000 euros
Fonds
01/03/2010
Fonds

Invesco restructure son équipe fixed income

Invesco Perpetual vient de décider un certain nombre de changements au sein de son équipe fixed income.Michael Matthews et Stuart Edwards devraient ainsi remplacer Paul Read et Paul Causer au sein du fonds obligataire international. Michael Matthews devrait aussi piloter le fonds de pension fixed interest auparavant dirigé par le duo.Stuart Edwards devrait assumer la gestion du fonds monétaire d’Invesco Perpetual, du global bond fund et du fonds de réserve en sterling.Ces modifications n’entraînent aucun changement de stratégie des fonds, souligne Fund Strategy.
Fonds

Sujets d'actualité

Tous les sujets