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24/09/2014
Fonds

Ashton Bradbury va quitter Old Mutual Global Investors

Ashton Bradbury va quitter Old Mutual Global Investors pour partir à la retraite, indique Investment Week. Le gérant, qui a notamment piloté le fonds Old Mutual UK Mid Cap sera remplacé de manière définitive par Tim Service pour la gestion du Old Mutual UK Specialist Equity hedge fund après une période transitoire de trois mois.
Fonds
24/09/2014

Old Mutual holds IPO for its US affiliate

p { margin-bottom: 0.1in; line-height: 120%; }a:link { } The British asset management firm Old Mutual on 23 September announced the launch of an initial public offering (IPO) for its affiliate Old Mutual Asset Management Limited (Old Mutual AM), the holding company for asset management activities on the US institutional asset management market. Old Mutual is planning to sell 22 million ordinary shares, or 18.3% of Old Mutual AM on the New York Stock Exchange, with a price range of USD15 to USD17, which would allow it to raise up to USD374m. The operation values Old Mutual AM at nearly USD2bn. Bank of America Merrill Lynch, Morgan Stanley, Citigroup and Credit Suisse Securities have been mandated to carry out the initial public offering. Old Mutual AM is a multi-boutique asset management firm which has about USD215bn in assets under management as of the end of June 2014.
24/09/2014

HSBC France appoints a new CFO

p { margin-bottom: 0.1in; line-height: 120%; }a:link { } HSBC France has announced the appointment of Laurence Rogier to the position of chief financial officer for the bank. She joins the executive board and in this position replaces Matthieu Kiss, who becomes global chief financial officer for the retail bank and wealth management for the HSBC Group. Rogier had previously served in the financial director’s office at HSBC France, from 2010, as program manager, in charge of the migration of the accounting system. In 2012, she became director of operations at the financial director’s office at HSBC France.
24/09/2014

Julius Bär replaces CEO for activities in Middle East

p { margin-bottom: 0.1in; line-height: 120%; }a:link { } Peter Schaer has left Julius Bär and his position as CEO for the Middle Eastern region, in which he had served from Dubai, according to reports in Finews. From 1 September, he has been replaced by Jürg Berger, who for 14 years had worked at the private bank, particularly on the board of directors at Julius Baer International in London.
24/09/2014

Old Mutual GI builds presence in Asia

p { margin-bottom: 0.1in; line-height: 120%; }a:link { } The British asset management firm Old Mutual Global Investors (OMGI) has added to its Asian teams with the recruitment of Dickson Mak in the position of senior product & strategy manager for Asia, based in Hong Kong. According to his LinkedIn profile, he joined the asset management firm in September. Mak joins from BNY Mellon, where for one year he served as product manager for Asia Pacific, also based in Hong Kong. Before that, Mak worked at Credit Suisse AM, where he served as vice president in charge of structuring and product development for Asia Pacific. During his career, he worked successively at Ajia Partners (2005-2007), and then at ING Investment Management (2007-2010) and then at the Hong Kong regulator, the Securities and Futures Commission, where from 2010 to 2011 he was manager in charge of investment products.
24/09/2014

Aquila Capital wins a mandate for real esate assets

p { margin-bottom: 0.1in; line-height: 120%; }a:link { } The alternative asset management firm Aquila capital, an affiliate of the German Aquila Group, has announced that it has won a management mandate for real estate assets from a large institutional asset management firm in Asia. The mandate covers an investment volume of USD500m. The portfolio will be invested in European real estate and renewable energy products. The first property in the portfolio is a logistical centre in Germany, acquired for USD43m.
24/09/2014

Bestinver loses one of its emblematic figures

p { margin-bottom: 0.1in; line-height: 120%; }a:link { } There has been a thunderclap in the Spanish asset management industry. Francisco Garcia Paramés, previously chief invesment officer (CIO) of Bestinver Asset Management, has decided to step down from his role to “dedicate himself to a new professional project,” the manager explained in a statement. Paramés, often called the “Spanish Warren Buffet” in the country, had worked at Bestinver for 25 years. Paramés managed more than EUR7.5bn in assets, and earned 16% annual returns throughout his two decades at the asset management firm. Yesterday, in order to replace Francisco Garcia Paramés, Bestinver appointed Beltran de la Lastra as new chief investment officer. He joins Bestinver form JP Morgan where he worked for 18 years in London. Recently, he was «Head of Core Strategies», managing a portfolio of EUR13.5 billions in asset under management.
24/09/2014

Allianz Real Estate invests EUR140m in Irish real estate

p { margin-bottom: 0.1in; line-height: 120%; }a:link { } Allianz Real Estate on 23 September announced that on behalf of insurance companies of the Allianz group in Germany and Ireland, it had invested EUR140m in the IPUT real estate fund, an Irish commercial real estate investment vehicle. The fund invest primarily in prime office and commercial properties located in the central business district of Dublin.
24/09/2014

Financial assets total EUR118trn worldwide

p { margin-bottom: 0.1in; line-height: 120%; }a:link { } Higher and higher. Global household gross financial assets have risen 9.9%, the highest growth rate since 2003, according to figures in the fifth edition of the Global Wealth Report, published by the insurer Allianz. As of the end of 2013, gross financial assets worldwide totalled a record EUR118trn. Net financial assets were up 12.2%, to a total of EUR86.6trn. This growth was largely driven by “the exceptional performance of the stock markets” in Japan, the United States and Europe, the study notes. Financial assets in the form of equities rose 16.5% last year, an increase larger than the one observed before the financial crisis of 2008, to a total of EUR45trn. Doubtless one would expect a sudden regain in interest in equities on the part of savings investors. In fact, the study notes that the United States is the only region to have seen a substantial return of new money into equities. Europeans, however, have continued to withdraw their money from this asset class. The study observes, meanwhile, that not all regions of the world have benefited from this strong growth in financial assets in the same way. On emerging markets, particularly in Latin America (6.4% of growth in 2013, compared with 13.5% in 2012), the growth of financial assets has slowed somewhat due to local turbulence and on currency markets. However, growth has accelerated strongly in Asia (+12.2%), North America (+11.7%), Japan (+6.1%), and western Europe (+5.2%).
24/09/2014

20% of savings investors prepared to invest in SRI products

p { margin-bottom: 0.1in; line-height: 120%; }a:link { } French savings investors are taking a little more interest in SRI products every year, according to the findings of a national study carried out by IPSOS for EIRIS, an environmental, social and corporate governance analyst company, and FIR, the Forum for responsible investment. 20% of respondents are “prepared to invest a part of their savings in SRI if it is offered to them”, three points more than in 2013. There is, however, still an education deficit in SRI. Only 37% of French savings investors had previously heard of SRI before the survey, and only 6% say they know precisely what socially responsible investment is. The survey says that the intention to buy an SRI product is related to good familiarity with the concept (38% in the case of those who know SRI precisely, and 29% of investors who know something about SRI). According to the EIRIS-FIR study, the range of SRI products remain little promoted by financial institutions. Only 3% of investors surveyed had been offered investments of this type by their bank or financial adviser.
24/09/2014

Head of Deutsche Bank faces fraud charges over Kirch affair

p { margin-bottom: 0.1in; line-height: 120%; }a:link { } According to Die Welt, the Munich public prosecutor’s office on Tuesday announced that it plans to bring charges against Jürgen Fitschen, the head of Deutsche Bank, for fraud during his legal battle with the Kirch family. Two former directors, Rolf Breuer and Josef Ackermann, former chairman of the board of directors Clemens Börsig, and a former board member, Tessen von Heydebreck, are also named in the action. The prosecutor claims that these parties gave false testimony during hearings which pit the German bank against the Kirch family, to prevent the latter from receiving damages and interest. The legal battle between the Kirch family and the bank lasted from 2002 until February this year. Leo Kirch, who died in 2011, accused Deutsche Bank of causing the collapse of his media empire in 2002. The head of the bank at the time, Rold Breuer, expressed doubts about the financial solidity of the group in an interview on Bloomberg TV.
24/09/2014

Le Japon renforce ses sanctions contre la Russie

Tokyo a annoncé mercredi la prise de sanctions supplémentaires contre la Russie afin de mieux s’accorder avec la ligne adoptée par plusieurs pays, dont les Etats-Unis, dans le conflit ukrainien. Les nouvelles mesures prévoient l’interdiction pour certaines banques russes d'émettre des titres au Japon et un renforcement des contrôles pour empêcher le transfert d’armes vers la Russie, a indiqué le secrétaire général du gouvernement Yoshihide Suga.
24/09/2014

La croissance néerlandaise est revue en hausse au deuxième trimestre

Le produit intérieur brut néerlandais a augmenté de 0,7% au deuxième trimestre en rythme séquentiel, contre une hausse de 0,5% en première estimation. Le Bureau central des statistiques explique cette révision en hausse par des investissements industriels et une consommation des ménages plus élevés que prévu. Au premier trimestre, l’activité s'était contractée de 0,4%, en raison notamment d’une chute des recettes tirées de l’extraction de gaz naturel.
24/09/2014

La SEC enquête sur un fonds de Pimco

La SEC enquête sur l’un des fonds de Pimco, ont reconnu la société de gestion et son actionnaire Allianz, confirmant des informations du Wall Street Journal. L’autorité des marchés financiers américains soupçonne le gérant d’avoir gonflé artificiellement les rendements de son fonds Pimco Total Return ETF. Bill Gross, le fondateur et directeur des investissements de Pimco, aurait été entendu par la SEC. Pimco a indiqué collaborer avec l’autorité.
24/09/2014

L'Argentine envisage le refinancement d'obligations

Le gouvernement argentin évalue actuellement des propositions de banques européennes et de fonds d’investissement visant à refinancer des obligations en dollar arrivant à échéance en 2015 avec de nouveaux titres émis à Londres, indique le quotidien local qui cite des sources gouvernementales. Il envisage aussi d'émettre en Argentine des obligations indexées sur le dollar.
24/09/2014

UniCredit marie Pioneer à Santander AM

La nouvelle entité pèsera quelque 340 milliards d’euros d’actifs sous gestion. Warburg Pincus et General Atlantic en détiendront une partie.
24/09/2014

La baisse du forfait social écartée

Lors des rencontres parlementaires pour l'épargne salariale, le ministre du Travail a écarté l’idée d’une baisse généralisée du forfait social, prélèvement pourtant très critiqué. Le gouvernement envisage plutôt des ajustements ponctuels, pour développer l'épargne salariale dans les PME.
24/09/2014

Le déficit public du Royaume-Uni se creuse

Les emprunts nets du secteur public au Royaume-Uni, hors banques contrôlées par l’Etat, se sont établis à 11,6 milliards de livres (14,7 milliards d’euros) en août, soit une hausse de 6,1%, conforme aux attentes des économistes. Depuis le 1er avril, début de l’exercice fiscal 2014-2015, les emprunts nets ont représenté 45,4 milliards de livres, soit une hausse de 6,2% par rapport à la même période de 2013-2014.
24/09/2014

Allianz investit dans l'immobilier commercial irlandais

Allianz Real Estate a annoncé hier avoir investi, pour le compte de compagnies d’assurance du Groupe Allianz en Allemagne et en Irlande, 140 millions d’euros dans le fonds immobilier IPUT. Ce dernier est un véhicule d’investissement en immobilier commercial en Irlande, principalement en actifs de bureau et de commerce «prime» situés dans le quartier central des affaires de Dublin. Allianz mise ainsi sur le redressement économique du pays.
24/09/2014

Immobilière Dassault achète le siège parisien de Morgan Stanley

Immobilière Dassault SA a signé le 22 septembre une promesse synallagmatique en vue d’acquérir 100% des parts sociales de la SCI propriétaire du 61 rue de Monceau à Paris 8ème. Le prix d’acquisition de cette SCI est déterminé sur la base de l’actif net réévalué, la valeur du bien étant proche de 112,3 millions d’euros. L’ensemble, qui donne sur le parc Monceau et développe une surface utile brute de 6.655 m2, est loué à Morgan Stanley pour encore 7 ans.
24/09/2014

La CGPME propose des «mesures d'exception» pour l'emploi

La CGPME a proposé hier des «mesures d’exception» pour lutter contre le chômage, dont l’allongement de la durée maximale des contrats de travail à durée déterminée (CDD) à 30 mois au lieu de 18 et la mise en place d’un «contrat de croissance», un nouveau contrat de travail à durée indéterminée (CDI) qui lierait le maintien d’un emploi à des objectifs contractuels en matière d’activité économique.
24/09/2014

Les eurosceptiques allemands représentent un risque de crédit

La montée en puissance des eurosceptiques en Allemagne pourrait affecter les coûts d’emprunt des Etats de la périphérie de la zone euro, a estimé hier Standard & Poor’s, alors qu’un sondage a fait ressortir un soutien sans précédent de la population allemande au parti Alternative pour l’Allemagne (AfD). Ce dernier est entré au Parlement européen et dans les assemblées régionales de trois des seize Länder allemands.

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