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17/01/2013

Progression de 7% des actifs sous gestion de JP Morgan au quatrième trimestre

Les actifs sous gestion de JP Morgan ont progressé au quatrième trimestre de 7% ou 90 milliards de dollars par rapport au dernier trimestre 2011 pour s'établir à 1.400 milliards de dollars, selon les chiffres communiqués par JP Morgan le 16 janvier à l’occasion de la présentation de ses résultats.Cette évolution est due à l’effet marché et à une collecte nette de 32 milliards de dollars, dont 24 milliards de dollars sur les produits monétaires et 8 milliards de dollars sur les produits de long terme. Les actifs sous supervision s'établissaient fin décembre à 2.100 milliards de dollars, en hausse de 174 milliards de dollars ou 9% par rapport à l’année précédente. Le groupe dans son ensemble a fait état d’un bénéfice net de 5,7 milliards de dollars pour le quatrième trimestre, en hausse de 53%, le bénéfice pour l’ensemble de l’année s’inscrivant au niveau record de 21,3 milliards de dollars.
17/01/2013

US Trust lance un service de gestion de fortune pour les familles

US Trust, pôle gestion de fortune de Bank of America, a annoncé le 15 janvier la création du Family Wealth Services qui intègre plusieurs prestations comme ceux de banque d’investissement, de transfert de patrimoine, de planification des successions et qui fournit des stratégies personnalisées intégrant la transmission intergénérationnelle, la diversités de familles, les risques potentiels pour la sécurité financière ainsi que les objectifs généraux et les valeurs des familles clientes.
17/01/2013

123Venture recrute trois chargés d'affaires

La société de gestion 123Venture a annoncé, mercredi 16 janvier, le recrutement de trois chargés d’affaires. Marie-Estelle Iorio et Satiche Delavictoire viennent renforcer l'équipe de gestion tandis qu’Arnaud de la Bigne rejoint l'équipe Grands Investisseurs dirigée par Johann Devaux, pour s’occuper des relations avec les clients fortunés et institutionnels. Marie-Estelle Iorio a rejoint 123Venture au sein de son équipe de gestion en tant qu’analyste financier et sera en charge de l’analyse des opportunités d’investissement et participe à leur mise en place.Auparavant, Satiche Delavictoire a participé pendant plus d’un an à l’analyse financière et sectorielle de nombreuses sociétés industrielles pour le compte des métiers de BNP Paribas, au sein de la direction des Risques. Il a exercé principalement sur les secteurs de l’automobile, de l’aéronautique et des biens d'équipement.Enfin, Arnaud de la Bigne qui va participer au suivi et au développement de l’offre dédiée aux Grands Investisseurs travaillait au sein du département Corporate Advisory de la Banque Transatlantique intervenant à la fois sur des problématiques de finance d’entreprise et de banque privée.
17/01/2013

UBS veut développer ses activités de gestion de fortune en Chine

UBS étend ses activités en Chine à la gestion de fortune. Qualifiant cette étape de «décisive», le numéro un bancaire helvétique a ouvert le 16 janvier à Pékin une filiale de droit chinois afin de développer ses activités dans la monnaie locale et de devenir l’un des leaders de la gestion de fortune en Chine."La Chine représente l’un des marchés les plus importants au monde pour UBS», a souligne son président Axel Weber, cité dans le communiqué. «Nous nous engageons à renforcer notre présence ici (en Chine) et à élargir notre gamme de produits et de services pour répondre à la demande des clients», a-t-il ajouté lors de la cérémonie d’ouverture.
17/01/2013
Fonds

Record d’encours pour les hedge funds espagnols

Au 31 décembre, le secteur des «fonds d’investissement libre», les hedge funds de droit espagnol, comptait 28 produits et affichait un encours de 845 millions d’euros, soit 33 % de plus que fin 2011 et le montant le plus élevé depuis cinq ans, rapporte Funds People. Les trois premiers acteurs sont March Gestión, avec 235 millions d’euros, Bestinver (186 millions) et ICR (161 millions).En revanche, les actifs gérés dans les 18 fonds de hedge funds de droit espagnol ont baissé de 7,8 % en un an, à 340 millions d’euros, le niveau le plus bas depuis cinq ans.
Fonds
17/01/2013

Mirabaud recrute pour l’Espagne

Funds People rapporte qu’Antonio Rodríguez García a été recruté comme adjoint au directeur de la gestion Raimundo Martín et comme responsable du marketing et des ventes pour l’Espagne, le Portugal et l’Amérique du Sud par le suisse Mirabaud.L’intéressé a quinze ans d’expérience dans le secteur financier et il a travaillé auparavant chez Rothschild et au Santander.
17/01/2013

Gestion de fortune : BNP Paribas peut être un opérateur de premier plan

Sebastian Dovey est managing partner chez Scorpio Partnership, un cabinet de conseil londonien. Dans un entretien à L’Agefi Hebdo, il estime que les banques privées françaises ne figurent pas de façon constante parmi les champions de la gestion de fortune. «Cependant, BNP Paribas est le plus à même de devenir un opérateur de premier plan et a fréquemment figuré dans le Top 10 mondial en termes de volume d’activité», souligne le spécialiste. Selon Sebastian Dovey, BNP Paribas dispose des mêmes compétences, produits et services que les plus grandes institutions.
17/01/2013

Fidelity Worldwide Investment cherche un responsable pour l'Asie du Sud-Est

Fidelity Worldwide Investment cherche un nouveau responsable pour son pôle de Singapour et la région Asie du Sud-Est, suite au départ de Madeline Ho, partie chez Natixis Global Asset Management. Pour le moment, c’est Mark Talbot, managing director pour l’Asie Pacifique hors Japon de Fidelity, qui assure l’intérim.
17/01/2013

Galibier Capital Management choisit RBC & Treasury Services

RBC investisseur & Services a annoncé que son activité de services aux investisseurs a été retenue par la société canadienne Galibier Capital Management Ltd pour offrir un ensemble de services pour sa gamme de fonds, y compris la conservation et l’administration de fonds et l’enregistrement de données clients. Galibier CM propose actuellement des mandats d’actions canadiennes et d’actions américaines dédiés aux institutions, régimes de retraite, fondations et particuliers fortunés.
17/01/2013

DekaBank launches certificate unit

In line with authorisation granted a few months ago by the board of directors (see Newsmanagers of 13 September), DekaBank (EUR170bn in assets in its investment funds) will on 21 January launch its retail certificate operation, a decisive step in the process which will make the central asset management firm for the German savings banks the single vendor in this sector for these securities, Oliver Behrens, vice-chairman of the board, announced on 16 January.Deka has already been issuing certificates for owners’ equity investments by the savings banks and institutional clients for a decade. The objective is to focus on standard, simple and transparent products, which are appropriate for wider sales, tied to well-known index products such as Dax or Euro Stoxx 50. Deka will deliberately not cover all of the most popular sectors, and will primarily avoid the more speculative segments, says Marco Peters, head of sales for structured products.
17/01/2013

Nestlé Foundation recruits a chief investment officer

Bettina Nürk, who since late 2009 has been head of the financial portion of the corporate retirement planning programme at the German publisher Uhlenbruch, has been appointed to the board at the pension fund for Nestlé Germany (Nestlé Pensionskasse) as chief investment officer. In December she succeeded Peter Hadasch, a board member and director of personnel at Nestlé Deutschland, who remains as head of retirement savings plans, finews.ch reports.Gerhard Latza, a board member responsible for the affiliate Neversa, becomes responsible for real estate management, in addition to his current responsibilities.
17/01/2013

Nomura AM recruits from LGT

Frank Appel, who had previously been head of relationship management for institutional clients at LGT Capital Management, was on 2 January recruited as senior relationship manager for institutional assets at Nomura Asset Management Deutschland KAG (NAMD). His previous employers, before LGT, were the primary insurer Ergo, DWS Investments, and HSBC Global Asset Management.NAMD is led by Andreas Körner, CEO.
17/01/2013

7% growth in assets under management at JP Morgan in fourth quarter

Assets under management at JP Morgan in fourth quarter increased 7%, or USD90bn, compared with fourth quarter 2011, at USD1.4trn, according to figures released by JP Morgan on 16 January, at a presentation of its results. This development is due to market effects and net inflows of USD32bn, of which USD24bn were for money market products, and USD8bn in long-term products. Assets under supervision as of the end of December totalled USD2.1trn, up USD174bn or 8% compared with the previous year. The group overall reported net profits of USD5.7bn in fourth quarter, up 53%, while profits for the year as a whole totalled a record USD21.3bn.
17/01/2013

Legg Mason preserves Bill Miller's room to manoeuvre

The Legg Mason group has announced that it will absorb the asset management boutique Legg Mason Capital Management (LMCM, USD6.8bn) into its affiliate ClearBridge Investments (USD54bn).After the deal is closed, the LMCM team in Baltimore will continue to be led by Sam Peters, who took over as manager of the LMCM Value Trust fund in May 2012.For his part, Bill Miller, former star manager of the fund, which at one time had over USD50bn in assets, and consistently beat the S&P 500 from 1991 to 2005, will receive about USD1bn in LMCM assets, to concentrate on the management of the LMCM Opportunity Trust as managing member of LM Miller LLC, a firm he founded jointly with Legg Mason in 1999.Miller will thus not be joining ClearBridge, which will have assets of about USD60bn.
17/01/2013

First infrastructure mandate for First State in North America

Citywire reports that Russell Investments has integrated First State Investments into its global managers platform for the infrastructure sector, and has intermediated institutional mandates for it totalling over USD500m, from the United States, Canada and Australia.
17/01/2013

Assets at Goldman Sachs up 3% in 2012

Despite USD18bn in net redemptions in 2012, compared with USD17bn in 2011, the investment management division of Goldman Sachs at the end of December posted assets up by USD26bn, or 3%, compared with the end of 2011, at USD854bn, according to accounts released by the group on 16 January. Market effects were positive to the tune of USD44bn.Net revenue for the division rose 4% over the previous year, to USD5.22bn, due to a strong increase in performance commission revenues, which were offset by a slight decline in management commission revenues, and by a decline in transaction revenues.Group-wide, net profits in 2012 rose 68% over 2011, to USD7.465bn, compared with USD4.442bn.
17/01/2013

UBI starts 2013 with a new product offering

After a very satisfactory year in 2012, Union Bancaire Gestion Institutionnelle (UBI), an affiliate of Union Bancaire Privée (UBP), is starting 2013 with an addition to its product range. Inflows for the group last year totalled EUR3.5bn, of which EUR800m went to convertible funds managed in Paris. “2012 was an excellent year for credit, a good year for equities, and lastly, a very good year for convertible equities,” Dominique Leprévots, chairnen of the board at UBI, stated on 16 January at a meeting with investors. On the strength of these results, the firm, which has recently released an SRI convertible fund, has decided to extend its range to global convertible bonds, with the UBAM Convertibles Global fund. This is not least because it claims to have the means in its Paris team to serve an international client base, after launching two dedicated funds of global convertible bonds with a total of over EUR100m. The new strategy carries on the principal characteristics that distinguish the existing product range: a bottom-up approach, discretionary management of delta, investment-grade bias, and hedging for currency risks, with diversification in the three major convertible bond-issuing regions, the United States, Europe, and Asia (including Japan). Principal characteristics of fund Name of fund: UBAM Convertibles Global Legal format: French Sicav – UCITS IV ISIN code: (EUR) FR0011335363 Bloomberg code: UBACGAC FP Equity Management fees: 1.2%
17/01/2013

US Trust launches family WM service

U.S. Trust, Bank of America’s wealth management arm, introduced Family Wealth Services (FWS), a comprehensive approach to meeting the specialized needs of high net worth families and the increasingly complex issues that parents, children and extended family members now face.FWS aggregates a wide range of investment, banking, wealth transfer and legacy planning capabilities within U.S. Trust and provides customized strategies that incorporate generational differences, family diversity, emerging risks to financial security and overall family goals and values. .
17/01/2013

Threadneedle recruits a head of clients for real estate

James Allum, client relationship manager at Aviva Investors for real estate for five years, after serving as client service manager at Henderson Global Investors, has been appointed as client reationship director, overseeing institutional clients investing in real estate portfolios from Threadneedle Investments. The British asset management firm states that he joined the firm on 4 December, and that he reports to Andrew Nicoll, global head of client service.
17/01/2013

Jupiter increases assets in fourth quarter 2012

Jupiter has seen a rise in its assets under management to GBP26.3bn as of 31 December, compared with GBP24.9bn as of 30 September. This is the result of net inflows of GBP688m, of which GBP490m are in mutual funds. For 2012 as a whole, net inflows total GBP966m.
17/01/2013

AEW Europe appoints an executive director

AEW Europe has announced the appointment of Simon Baxland as executive director. He comes as an addition to the opportunity-driven platform at the firm, and joins a team of 40 professionals dedicated to this activity, a statement says. In his new role, Blaxland will be based in London, and will report to Russell Jewel, Managing Director – head of private equity funds. Before joining AEW Europe, Blaxland served in a variety of roles on investment teams at GE Real Estate and Goldman Sachs. More recently, he was Managing Partner at Groupe Exmoor, where he served as investor, operating partner and advisor to several Private Equity Funds. AEW Europe has also announced that it is currently in the process of launching an opportunity-driven fund which will target real estate assets and distressed financial structured, investing both in operational platforms and assets whose valuation is temporarily affected by the market situation.
17/01/2013

Mirabaud recruits for Spain

Funds People reports that Antonio Rodriguez García has been recruited as deputy to head of investments Raimundo Martín, and as head of marketing and sales for Spain, Portugal and South America by the Swiss firm Mirabaud.García has 15 years of experience in the financial sector, and previously worked at Rothschild and Santander.
17/01/2013

UBS plans to develop wealth management activities in China

UBS is extending its activities in China into wealth management. The largest Swiss bank, calling the step “decisive,” on 16 January opened a Chinese-registered affiliate in Beijing, to develop its activities in local currency and to become one of the leaders in wealth management in China. “China represents one of the largest markets in the world for UBS,” its chairman, Axel Weber, says, cited in a statement. “We are committed to strengthening our presence here (in China) and to extending our range of products and services to meet client demand,” he added at the opening ceremony.
17/01/2013

Fidelity Worldwide Investment seeking a head for South-East Asia

Fidelity Worldwide Investment is seeking a new head for its Singapore unit and the South-East Asian region, following the departure of Madeline Ho, who has moved to Natixis Global Asset Management. In the interim, Mark Talbot, managing director for Asia Pacific ex Japan at Fidelity, will assume the role.
17/01/2013

Fidelity Worldwide Investment seeking a head for South-East Asia

Fidelity Worldwide Investment is seeking a new head for its Singapore unit and the South-East Asian region, following the departure of Madeline Ho, who has moved to Natixis Global Asset Management. In the interim, Mark Talbot, managing director for Asia Pacific ex Japan at Fidelity, will assume the role.
17/01/2013

JP Morgan to release an internal report on the Whale of London

The board of directors of the largest US bank, JPMorgan Chase, has decided to release an internal report on the Whale of London scandal, which cost the bank USD6.25bn last year, according to the New York Times. The decision was taken on 15 January, at the initiative of chairman and CEO Jamie Dimon, despite the reservations of some heads, who were concerned that the 50-page document might be used as a basis for lawsuits against the bank, the newspaper adds, citing several sources familiar with the matter. The newspaper reports that the document, authored by former CFO Mike Cavanagh, was critical of Douglas Braunstein, the chief financial officer at the group at the time of the events, for failing to adequately oversee the activities of traders at the London bank.
17/01/2013

Record assets for Spanish hedge funds

As of 31 December, the “free investment fund,” or Spanish-registered hedge fund, sector had 28 products, with assets of EUR845m, 33% more than at the end of 2011, and the highest level in five years, Funds People reports. The top three actors are March Gestión, with EUR235m, Bestinver (EUR186m), and ICR (EUR161m).However, assets under management in the 18 Spanish-registered funds of hedge funds have fallen 7.8% in one year, to EUR340m, the lowest level in five years.
17/01/2013

Alfred Berg converts a bond fund

The Scandinavian asset management firm Alfred Berg (BNP Paribas group) is converting its traditional bond fund Alfred Bergs Obligationsfond into an absolute return bond fund. As a part of the move, the fund will be changing names, to become Alfred Berg Ränteallokering Plus. The fund may now invest in riskier bonds, with lower credit ratings than previously.
17/01/2013

Russell Indexes and NYSE Euronext form international alliance

The index provider Russell Indexes and NYSE Euronext on 15 January announced that they have forged an international alliance, which will involve several units at the two groups. The agreement includes an integration of the Glboal Index Feed (GIF) from NYSE Technologies into the RussellTick feed (Russell US indices). The agreement also provides for the introduction of new products in the United States and Europe, including options on indices.
17/01/2013

Sovereign debt risk: Japan is down, United States holding steady

Japan has lost two places, to 35th place in the most recent quarterly index of sovereign risk calculated by BlackRock (BSRI), due to a deterioration of its budgetary situation, but things may develop during the year, due to the inauguration of a new administration and a new governor of the central bank. The United States, for their part, remain at 15th place in the rankings, due to the budget agreement reached early in 2013, which is considreed “better than nothing” by strategists at the BlackRock Investment Institute, who nonetheless predict that there will be some slightly increased turbulence due to the limited scope of the agreement. France is in 27th place in the rankings, after Poland, and before Colombia and Brazil. The top three places are held by Norway, Singapore and Switzerland. BlackRock also offers an interactive BSRI index, which makes it possible to compare ratings between two countries.

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