Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
30/06/2009
Fonds

Carlyle lance un fonds Asie

Carlyle Group a annoncé mardi avoir levé 1,04 milliard de dollars pour un nouveau fonds - Carlyle Asia Growth Partners IV - ciblant des investissements dans des sociétés asiatiques affichant une croissance rapide, rapporte le Wall Street Journal.
Fonds
30/06/2009

La justice espagnole inculpe un gérant de fortune suisse

Un gérant de fortune indépendant suisse a été inculpé fin mai par un juge madrilène pour blanchiment d’argent et évasion fiscale, indique Le Temps. Le quotidien suisse, qui connaît le nom du gérant mais qui ne publie que son initiale, G., précise qu’il est accusé d’avoir assisté l’entrepreneur espagnol Francisco Correa dans l’établissement des circuits financiers offshore ayant permis la corruption de plusieurs dirigeants provinciaux espagnols. La société de gestion de fortune de G. a pignon sur rue à Genève depuis près de 30 ans et gère entre 1 et 2 milliards de francs suisse, précise Le Temps.
30/06/2009
Fonds

L’impact Madoff plus important que les chiffres officiels

Selon les chiffres officiels, la fraude de Bernard Madoff semblerait avoir causé peu de victimes en Italie, constate Il Sole – 24 Ore. L’enquête de la Consob (commission italienne des valeurs mobilières) sur la gestion d’actifs, montre que l’exposition au plan Ponzi des fonds, des portefeuilles patrimoniaux et des contrats d’assurance se monte à seulement 187 millions d’euros au total. Mais le quotidien italien estime que l’impact Madoff en Italie est bien plus important parce que de nombreux Italiens ont investi depuis la Suisse ou d’autres pays.
Fonds
30/06/2009

UBS exprime ses regrets

Selon Romandie.com, la banque suisse UBS a indiqué dans une prise de position relayée par le magazine «Eco» de la télévision alémanique, qu’elle regrette que son comportement ait exposé la Suisse aux feux de la critique internationale et que la réputation du groupe ait souffert suite aux infractions aux droits suisse et américain.
30/06/2009

Nordea, meilleure filliale de banques privées en Suisse

MyPrivateBanking.com plateforme indépendante d’information en réseau destinée aux clients des banques privées et à ceux des gestionnaires de patrimoine vient de réaliser une enquête à partir d’une sélection de vingt des plus importantes banques privées d’Europe. Objectif : évaluer la qualité de leur interface clients, leur offre d’investissement et le coût total de leur gestion d’actifs. Pour ce faire, les analystes sont entrés en relation avec les banques en question en se faisant passer pour des clients, afin de les noter. Pour assurer la comparabilité des résultats, les analystes n’ont contacté que les filiales suisses de ces banques. A ce jeu, c’est la banque Nordea, avec un total de 79 points sur 100 qui est arrivée en tête devant Sal. Oppenheim et UBS. A noter que le score moyen s’élève à 52 points et que la majorité des banques se situant entre 50 et 70 points. Plus du quart d’entre elles ont réalisé un total inférieur ou égal à 40 points mettant en évidence certaines conclusions selon lesquelles la plupart des banques présentaient des faiblesses considérables dans au moins un ou plusieurs domaine(s) d’évaluation.
30/06/2009

Inverco va lancer une campagne publicitaire pour les fonds

A partir de la fin du mois, l’association des sociétés de gestion Inverco compte lancer une «offensive médiatique» pour mettre en exergue les atouts des fonds d’investissement et des fonds de pension, a indiqué à El País Mariano Rabadán, président d’Inverco. Il souligne que l’hémorragie subie par les fonds d’investissement est désormais arrêtée et que les souscriptions reviennent fortement. Quant aux fonds de pension, Mariano Rabadán «a l’impression» qu’ils ont bien évolué au deuxième trimestre tant en nombre d’adhérents qu’en matière de performances.
30/06/2009

Generali incite Berlin à s’immiscer dans la gestion de la Commerzbank

Selon le FTD, le groupe Generali a adressé une lettre au ministre des finances allemand Peer Steinbrück pour le prier de s’immiscer dans la politique de gestion de la Commerzbank et inviter la banque à continuer à distribuer les produits de Generali. A compter d’octobre 2010, la Commerzbank a un accord de distribution exclusif avec Allianz et a donc annulé son partenariat avec Generali. De son côté, Berlin, qui détient 25% plus une action du capital de Commerzbank, s’est néanmoins engagé à ne pas intervenir dans la gestion opérationnelle de la banque.
30/06/2009

DWS compte à terme rétrécir sensiblement sa gamme

Die Welt rapporte que, dans une présentation sur Internet, DWS aurait l’intention de ramener à terme sa gamme de fonds offerts au public à moins de 200 produits. Elle en compte à présent environ 500, à l'échelon européen, avec un encours de 133 milliards d’euros. Le journal souligne que, d’après Lipper, DWS aurait fermé 23 fonds en Europe (zone euro plus Suisse et Royaume-Uni) depuis le début de l’année, contre 22 pour Allianz Global Investors et 13 pour Deka. A Francfort, DWS a indiqué à Newsmanagers qu’il est prévu de fermer ou fusionner une centaine de fonds sur les douze mois à venir, sur 430 à l'échelon européen et que, depuis le début de l’année, une vingtaine de ces fermetures ou fusions «tout à fait normales» ont été annoncées au journal officiel électronique (elektronischer Bundesanzeiger). En 2008, les fermetures ou fusions ont concerné environ une cinquantaine de fonds.
30/06/2009

Blackstone raises USD4.3bn

La Tribune reports that the US private equity firm Blackstone has raised USD4.3bn for the Real Estate Partners Europe III fund, which will invest in European real estate.
30/06/2009

MEAG launches a fund aimed at charities

On 24 June, MEAG Munich Ergo Asset Mangement launched the MEAG FairReturn fund, aimed primarily at charities. The product is a diversified absolute return fund investing primarily in Europe, which is managed with a sustainable development (ESG) approach. Minimal subscription is set at EUR10,000. The portfolio is largely composed of bonds, complemented by equities and derivatives. The strategy has already been in use since 2002 on behalf of Munich Re, and fund find generated returns of over 3% in 2008. MEAG is the management firm for Munich Re and the primary insurer Ergo. In this capacity it manages about EUR187bn in assets.
30/06/2009

Real estate funds have positive momentum

In the first five months of the year, the 46 open-ended real estate funds have posted net subscriptions of EUR2.28bn, of which EUR697.5m were in May. By comparison, open-ended securities funds attracted only EUR690.4m in investment in the same period. Total assets in real estate funds as of 31 May totalled EUR87.36bn. Of the 17 major asset management firms, which offer a total of 39 RE funds, only four have seen net redemptions, among them DEGI (Aberdeen group), with EUR280m, and RREEF (Deutsche Bank) with EUR256.8m. However, Commerz Real (Commerzbank) and Union Investment Real Estate (UIRE, co-operative banks) have posted net subscriptions, of EUR442.4m and EUR889.3m, respectively.
30/06/2009

Standard Life Investments offers funds on distribution network in Scandinavia

The Luxembourg Sicav fund from the management firm Standard Life Investments (SLI) is now available in Scandinavia via the investment fund market MFEX. According to SLI, MFEX is the largest independent fund market in Europe: 268 management firms from 15 countries offer funds for sale in countries such as Austria, Belgium, Finland, France, the Netherlands, Norway, Sweden, and Switzerland. The sub-funds in question already have licenses for retail sale in Denmark, Finland, Germany, Ireland, Luxembourg, Norway, Sweden, and the United Kingdom. The 18 sub-funds of the Standard Life Investments Sicav are already available via a number of major distributors throughout Europe, including Aktia in Finland, dwpbank and Fidelity FundsNetwork in Germany, Merrant in Sweden, and Nordea in the Scandinavian and Baltic coutnries.
30/06/2009

Inverco to launch an ad campaign to promote funds

Beginning at the end of this month, the Inverco association of managemnet firms is planning to launch a “media offensive” to highlight the advantages of investment funds and pension funds, Mariano Rabadán, president of Inverco, tells El País. He says the outflows from investment funds have now let up, and that subscriptions are rebounding strongly. As to pension funds, Rabadán “has the impression” that they developed nicely in second quarter in terms of the number of members and of performance.
30/06/2009

Degroof sells Netherlands affiliate

L’Echo reports that the Netherlands activities of the Belgian bank Degroof will be taken over by its management. “The announcement is part of a larger refocusing of the Degroof bank on the group’s strategic activities, in Belgiu, Luxembourg and in France,” says a spokesperson for Banque Degroof based in Brussels. The Degroof affiliate which previously operated in the Netherlands under the name Degroof Vermogensbeheer will change its name to becme Stroeve en Lemberger Vermogensbeheer, from the beginning of July 2009.
30/06/2009

UBS expresses its regrets

According to Romandie.com, the Swiss bank UBS has said in a statement reported by the German television news show “Eco” that it regrets that its behaviour exposed Switzerland to international criticism, and that the reputation of the group has suffered due to its infractions to German and United States law.
30/06/2009

Swiss wealth manager on trial in Spain

A Swiss independent financial advisor came before a judge in Madrid in late May on charges of money-laundering and tax evasion, Le Temps reports. The Swiss newspaper, which knows the name of the manager but has published only his initial, G., says he is accused of assisting the Spanish entrepreneur Francisco Correa to establish offshore financial circuits which several provincial Spanish directors were able to use to corrupt ends. The wealth management firm for which G. works has been present in Geneva for over 30 years, and manages between CHF1bn and CHF2bn, Le Temps reports.
30/06/2009

Candover ends sale negotiations

La Tribune reports that the British fund Candover has ended discussions with potential buyers. A potential sale does not offer enough “certainty and value for shareholders,” the firm stated, according to the newspaper.
30/06/2009

Passive management gaining popularity

In Germany, the passive management boom is not only apparent in the strong subscriptions to ETF funds. It can also be seen in subscriptions to institutional funds (Spezialfonds). Universal Investment reckons its assets in passively-managed Spezialfonds at nearly EUR8bn, the Börsen-Zeitung reports. State Street, for its part, manages about EUR12.4bn for German and Austrian institutional clients in passive mandates, which represent 65% of its assets in the region. DB Advisors, the institutional management specialist of the Deutsche Bank group, manages about EUR6.8bn in passive equities and bond mandates.
30/06/2009

Sal. Oppenheim (France) offers a reactive fund

The product range from Sal. Oppenheim (France) now includes the Multi Invest OP, a reactive fund of funds which was granted a license by the French market regulator, the Autorité des Marchés Financiers, at the end of April 2009. The management process for the fund, created in 1999, was modified in 2003. Since then, the product has been a reactive fund of funds, whose allocation may vary from a 100% money market portfolio to a portfolio invested 100% in equities. Despite having the composition of a diversified portfolio, the objective of the fund is to outperform the MSCI World index on a five-year horizon. Allocation is determined by a quantitative model which analyses a number of factors, primary among them the behaviour of the markets, including intra-day volatility, based on a multi-asset class approach (geographical and sectoral). 60 different asset classes are analysed. When the model recommends investment, the allocation procedure is to select the most attractive asset classes, up to a maximum of ten, and then to invest with equal weighting in each of these asset classes, with each of them limited to 10% in order to diversify the portfolio. Characteristics (R-class shares) Name of fund: Multi Invest OP ISIN Code: LU0103598305 Subscription commissions: 5.25% maximum Management fees: Set: 1.80% Variable: 15% on annual performance exceeding 8% Value of one share: EUR42.77 (as of 31/05/09) Minimal subscription: none
30/06/2009

Harewood AM launches an UCITS III fund

Harewood Asset Management, a management firm owned 100% by BNP Paribas, is launching the Harewood Quant’ Guru Europe Equity fund, an international equities FCP fund compliant with UCITS III and eligible for PEA. The fund is available to all types of investors (institutional and retail). The FCP fund is exposed to the BNP Paribas GURU Equity Europe Long Total Return strategy index. “The strategy is inspired by the approach developed and long used by the best managers, the ‘financial gurus,’ who have shown an ability to stand out consistently in terms of performance over several decades. The rigorous approach is based on fundamental analysis of companies,” a press statement explains. “The strategy used by the fund concentrates on three essential questions, which must be asked of all investments: 1) Is the business profitable? 2) Are its outlooks favourable? And 3) Is it attractively priced?” the statement continues. The portfolio for the strategy is reviewed on a monthly basis and is composed of an average of 120 European businesses. In highly volatile markets, often characterized by periods of decline, the strategy may reduce its exposure to equities to preserve value. Characteristics Name of fund: Harewood Quant’ Guru Europe EquityISIN Code: FR0010730077 (A-class, institutional shares) Subscription commission: 3% maximum Management fees (as a percentage of net assets): 1% maximumValue of one share: EUR1,000Minimal subscription: 250 shares
30/06/2009

JPMorgan closes fund managed by former Citi chiefs

JPMorgan Chase is closing a private equity fund with more than USD600m in assets, Brysam Global Partners, managed by former executives of Citigroup Robert Willumstad and Marjorie Magner, the Financial Times reports. The closure of the fund, launched in 2007 with money from JPMorgan and its founders, does not mark the end of the career of the two executives.
30/06/2009

Kyle Legg leaves Legg Mason CM

Kyle Prechtl Legg, president since 1997 and CEO since 2006, is leaving his job at Legg Mason Capital Management (LMCM) this Tuesday, 30 June, Global Pensions reports. She will remain as a consultant until the end of the year, and will be replaced by Jennifer Murphy, currently vice president in charge of research, risk management, and new products. These responsibilities will be distributed between several heads at LMCM, a management firm with assets of USD12bn as of the end of March, compared with USD70bn at the end of June 2007.
30/06/2009

Delafield AM sold by Natixis Global AM

La Tribune reports that the crisis has obliged Natixis Global Asset Management (NGAM) to part with Delafield Asset Management (DAM), an American value-style management firm owned by Reich & Tang Asset management, a 100% subsidiary of NGAM. Tocqueville Asset Management (TAM), a firm based in New York which manages about USD5bn, will take over DAM’s USD400m in assets.
30/06/2009

Impact of Madoff larger than official estimates

According to official figures, the fraud perpetrated by Bernard Madoff would appear to have claimed few victims in Italy, Il Sole - 24 Ore reports. An investigation by Consob (the Italian securities commission) of asset management finds that the exposure of funds, private portfolios and insurance policies to the Ponzi plan totals only EUR187m. But the Italian newspaper estimates that the impact of Madoff in Italy is far higher, since many Italians had invested in Switzerland or other countries.
30/06/2009

KBC transfers three funds to its Czech affiliate

As of 30 June, KBC Asset Management is transferring the management of the Central Europe, Eastern Europe et Turkey sub-funds of its Belgian Sicav KBC Equity Fund to KBC Group NV CSOB Asset Management, based in Prague; the investment objectives and management fees for the products will remain unchanged. The move arises from a desire to make better use of local expertise, as KBC AM has affiliates in the Czech Republic, Hungary, Slovakia and Poland. Assets in central and eastern Europe total EUR14bn.
30/06/2009

Mitsubishi UFJ to launch a specialised ETF

According to the Nikkei news agency, Mitsubishi UFJ Asset Management Co is planning to launch a new ETF on the Tokyo Stock Exchange in mid-July, which will replicate the evolution of the share prices of 26 companies of the Mitsubishi group, including Tokio Marine Holdings and Mitsubishi Heavy Industries. The management commission will be about 0.50%.
30/06/2009

BlackRock launches an inflation-linked bond fund

The Luxembourg Sicav BlackRock Global Funds (BGF) from BlackRock since 19 June now has an additional sub-fund. The BGF Global Inflation Linked Bond Fund is aimed at subscribers with a long-term horizon, and will invest primarily in inflation-linked bonds issued anywhere in the world. The new product will be co-managed by Brian Weinstein and Adam Bowman. The fund will be denominated in US dollars, but Euro-hedged shares will be available. The average duration of bonds in the portfolio will be over 7 years, and the benchmark is the Barclays Capital World Inflation-Linked Bond Index (US hedged). Currently, BlackRock manages USD15.2bn in assets (as of the end of March) in index-based bond portfolios on behalf of institutionals, of which USD9.7bn are in mandates.
30/06/2009

Carlyle launches an Asia fund

Carlyle Group announced on Tuesday that it has raised USD1.04bn for a new fund, Carlyle Asia Growth Partners IV, which will aim to invest in fast-growing Asian companies, the Wall Street Journal reports.

Sujets d'actualité

Tous les sujets