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26/03/2014

DeAWM veut se développer fortement au Royaume-Uni

Deutsche Asset & Wealth Management prévoit de faire enregistrer pour la première fois ses fonds sur les plates-formes britanniques dans le cadre d’un gros effort de développement au Royaume-Uni, rapporte Ignites Europe. La société négocie avec huit plates-formes, dont Nucleus et Standard Life. Les premiers fonds concernés seront ses ETF à réplication physique et ses fonds Croci.
26/03/2014

Feu vert des actionnaires de F&C au rachat par BMO

Les actionnaires de F&C Asset Management ont donné leur feu vert, ce 25 mars, au rachat pour 708 millions de livres (1,17 milliard de dollars) de la société de gestion par le groupe financier canadien Bank of Montreal (BMO). Lors de l’assemblée générale, les actionnaires représentant 99,6 % des actions ont voté en faveur de cette opération annoncée en janvier. F&C Asset Management a donc indiqué que les actions F&C seraient suspendues à l’issue de la fermeture des marchés le 6 mai prochain. Le même jour, on apprenait que l’investisseur activiste Elliott Associates avait porté sa participation dans F&C Asset Management à 20 %, alors qu’il détenait 11 % du capital en date du 26 février, rapporte Investment Week.
26/03/2014
Fonds

AllianzGI lance un fonds à échéance dédié aux émergents

Allianz Global Investors propose un nouveau fonds à échéance dédié aux obligations d’entreprises émergentes, rapporte Das Investment. Le fonds Allianz Emerging Markets Bond Extra 2018 (WKN A1XCBQ), conçu pour une clientèle retail, est ouvert à la souscription depuis le 24 mars. Les commissions s'élèvent à 0,99%.Le portefeuille sera constitué à 60% d’obligations en catégorie d’investissement et à 40% d’obligations high yield.L’encours des fonds à échéance gérés par AllianzGI s'élève actuellement à près de 2 milliards d’euros.
Fonds
26/03/2014
Fonds

Un fonds de LBBW fermé aux nouveaux investisseurs

Le fonds LBBW Pro-Fund Credit I a été fermé aux nouveaux investisseurs en raison d’une très forte demande qui aurait compliqué la gestion de cette stratégie, a indiqué dans un communiqué Universal Investment qui est responsable de l’administration du fonds.Les actifs de ce fonds géré par LBBW Asset Management s'élèvent désormais à 494 millions d’euros, grâce notamment à la forte demande des investisseurs institutionnels et des fonds de fonds.Depuis son lancement en juin 2010, le fonds affiche une performance de 3,64% par an, pour une volatilité de seulement 1,55%.
Fonds
26/03/2014
Fonds

Bankia scinde partiellement son fonds immobilier

Après Santander et Sabadell (lire News Managers du 19 mars 2014), c’est au tour de Bankia de remettre à plat sa gestion immobilière. La banque espagnole a en effet informé le régulateur local, la CNMV, qu’elle envisageait de scinder partiellement son fonds immobilier, Bankia Inmobiliario, rapporte Funds People.Cette décision impliquera une ségrégation partielle de ses encours et en transfère en bloc des encours ainsi scindés vers le nouveau véhicule Bankia Monetario Euro Deuda III. Le groupe bancaire espagnol offre aux participants du fonds immobilier le droit de réclamer le remboursement des sommes investies ou de transférer leurs participations, sans frais, tout au long du mois d’avril 2014.Bankia restera le participant unique du fonds immobilier. Actuellement, à travers la «fenêtre» de liquidité ouverte en février concernant 600 participants qui représentent un volume de 3,8 millions d’euros, le groupe bancaire détient plus de 99 % des encours du fonds qui pèse 283,8 millions d’euros.
Fonds
26/03/2014

Banco Madrid finalise le rachat de la gestion d’actifs de BMN

La banque privée Banco Madrid a annoncé, ce 25 mars, avoir finalisé l’acquisition de BMN Gestion de Activos, la société de gestion d’actifs du groupe bancaire BMN, établissement financier qui intègre Cajamurcia, CajaGranada et Sa Nostra. Banco Madrid met ainsi la main sur les 500 millions d’euros d’encours gérés par les fonds de BMN. Mieux, «en intégrant BMN Gestion de Activos, Banco Madrid se situe désormais parmi les 15 plus grandes sociétés de gestion en termes d’actifs sous gestion avec plus de 4,5 milliards d’euros d’encours», indique Banco Madrid dans un communiqué.
26/03/2014

ING va rembourser 1,225 milliard à l'Etat néerlandais

ING a indiqué, mardi 25 mars, qu’elle allait rembourser 1,225 milliard d’euros au 31 mars 2014 à l’Etat néerlandais. Un montant supérieur de 100 millions d’euros à ce qu’il avait été prévu dans le plan de restructuration de la Communauté Européenne annoncé le 19 Novembre 2012. Le paiement comprend un remboursement de 817 millions d’euros de titres core Tier one et 408 millions d’euros en primes et intérêts. Après ce paiement, le montant total versé à l'État néerlandais sera de 12,5 milliards d’euros, y compris 9,3 milliards d’euros en principal et 3,2 milliards d’euros en intérêts et primes. Au cours de la crise financière, ING a reçu 10 milliards d’euros de l'État néerlandais. La banque a confirmé son intention de solder les comptes en mai 2015.
26/03/2014
Fonds

Capital Group lance un fonds multi-assets de dividendes en Espagne

Capital Group complète son offre sur le marché espagnol. Après avoir annoncé l’ouverture de son premier bureau dans le pays, la société de gestion d’actifs a ainsi enregistré le 14 mars auprès du régulateur local, la CNMV, sa Sicav Capital International Portfolios 2 (CIP2), rapporte Funds People.A travers ce véhicule domicilié au Luxembourg, Capital Group met à disposition des investisseurs espagnols son unique fonds de sa gamme au format Ucits. Il s’agit du produit Capital International Global Absolute Income Growers, un fonds multi-classes d’actifs (principalement actions et obligations) qui se focalise sur le paiement périodique des dividendes. Ainsi, le fonds investit principalement dans des valeurs caractérisées par la croissance de leur dividende. Lancé en mars 2011, ce fonds affiche déjà un encours de 24,3 millions d’euros.
Fonds
26/03/2014

Décollecte de 2,2 milliards de francs pour la LLB en 2013

Les actifs sous gestion de la Liechtensteinische Landesbank (LLB) ont reculé l’an dernier de 1,6% pour s'établir fin décembre à 49,1 milliards de francs, selon un communiqué publié le 25 mars. La LLB a subi une décollecte nette de 2,2 milliards de francs l’an dernier, après des rachats de 392 millions de francs en 2012.Les marchés onshore du Liechtenstein, de la Suisse, de l’Autriche, ainsi que les marchés de croissance de l’Europe centrale et de l’Est ainsi que le Moyen-Orient ont enregistré une collecte nette de 1,7 milliard de francs. En revanche, la banque est en décollecte sur les autres marchés.Le bénéfice net a chuté de 43% à 53,8 millions de francs, en raison de facteurs exceptionnels, pour un montant de 58,6 millions de francs. Ce montant comprend des provisions à hauteur de 33,2 millions de francs liées au différend fiscal avec les Etats-Unis. La LLB a conclu en juillet 2013 un accord avec les autorités américaines qui prévoit un versement de 23,8 millions de dollars par la banque. En contrepartie, les Etats-Unis ont mis un terme à leurs investigations.
26/03/2014

Partners Group veut recruter massivement

Le gestionnaire de fortune suisse Partners Group s’attend à un intérêt grandissant pour sa plateforme d’investissement de la part des investisseurs institutionnels, rapporte Finews. Pour répondre à cette demande une «plateforme de 1.000 salariés» est nécessaire, ce qui devrait pousser Partners Group à recruter massivement, indique le quotidien électronique.
26/03/2014

Mizuho AM nomme son nouveau directeur général

Les actionnaires de Mizuho Asset Management ont désigné Hidetaka Nakamura, jusque-là directeur et président de Mizuho Securities Asia, pour occuper le poste de directeur général en remplacement de Shinichiro Tanaka, rapporte Asia Asset Management. L’heureux élu devra toutefois encore patienter pour prendre ses fonctions La décision définitive doit en effet intervenir lors de l’assemblée générale de la compagnie prévue au mois de juin.
26/03/2014

Invesco is top foreign firm in Italy for inflows in February

P { margin-bottom: 0.08in; } Invesco was in February the top foreign asset management firm in terms of net inflows in Italy, Bluerating reports. With EUR644m, the structure has increased its assets under management in Italy to EUR10.5bn. In Italy, activities are led by Sergio Trezzi, country head and head of European retail.
26/03/2014

Elliott doubles its stake in F&C

P { margin-bottom: 0.08in; } The activist investor Elliott Associates has increased its stake in F&C Asset Mangaement to 20%, as the asset mangaement firm is subject to a takeover bid for GBP708m by the Canadian Bank of Montreal, Investment Week reports. On 26 February, Eilliott already held an 11% stkae. F&C on 27 January announced that it had accepted a bid at 120 pence per share in cash from BMO. Some shareholders are hoping for a counter-offer.
26/03/2014

DeAWM wants strong growth in the United Kingdom

P { margin-bottom: 0.08in; } Deutsche Asset & Wealth Management plans to register its funds on British platforms for the first time as part of a major push in the United Kingdom, Ignites Europe reports. The firm is in talk with eight platforms, including Nucleus and Standard Life. The first funds concerned will be physical ETFs and Croci funds.
26/03/2014

Capital outflows may total USD70bn in Russia

P { margin-bottom: 0.08in; } Russia is expecting capital outflows to total about USD70bn in first quarter, a total higher than the capital outflows posted in all of 2013, Investment Week reports. In the wake of the annexation of Crimea, investors have repatriated far higher volumes than initial estimates might have suggested. Asset managers have also experienced the full impact of the tensions in the region. The Neptune Russia & Greater Russia fund, whose assets totalled about GBP300m, were down 23% in the past 12 months.
26/03/2014

Italian funds post inflows of over EUR6bn in February

P { margin-bottom: 0.Funds on sale in Italy in February recorded net inflows of EUR6.4bn, after EUR3.9bn in January, according to the most recent statistics from Assogestioni, the Italian association of asset managers. Inflows were driven by flexible funds (EUR4.33bn), bond funds (EUR1.6bn) and equity funds (EUR1.1bn). Only money market funds and hedge funds had net redemptions for the month, totalling EU731m and EUR143m, respectively. As of the end of February, assets in open-ended funds totalled EUR573.7bn, compared with EUR560.5bn in January. With the addition of closed funds and mandates, the Italian asset management industry as of the end of Febriary posted net inflows of EUR11.8bn, a level not seen since 1998, Assogestioni underlines. In this strong month, virtually all asset management firms had a positive balance between subscriptions and redemptions from open-ended funds and mandated management. Unsurprisingly, the three largest Italian groups in terms of assets are the top three: Gruppo Intesa Sanpaolo leads with EUR3.02bn, followed by Pioneer Investments (EUR1.8bn) and Generali (EUR1.6bn). Among the few asset management firms to have posted outflows are Franklin Templeton Investments (-EUR696.4m) and Montepaschi (-EUR35.5m).
26/03/2014

Mizuho AM appoints a new CEO

P { margin-bottom: 0.08in; } Shareholders at Mizuho Asset Management have nominated Hidetaka Nakamura, previously director and chairman of Mizuho Securities Asia, to serve as CEO, replacing Shinichiro Tanaka, Asia Asset Management reports. Nakamura will have to wait to start his new job, however, as the final decision is expected to be taken at a general shareholders’ meeting for the firm in June this year.
26/03/2014

Blackstone plans to set up shop in Israel

P { margin-bottom: 0.08in; } The Blackstone group is planning to open an office in Israel, according to one of the senior advisers at the group, as the country is seeing a rebound in interest due to large buyout operations, Financial News reports.
26/03/2014

Napoléon Gourgaud promoted to CEO of Sélection 1818

P { margin-bottom: 0.08in; } Napoléon Gourgaud has been appointed CEO of Sélection 1818, the platform born of the merger of Sélection R and 181 Partenaires. The appointment will be effective from 20 March, a statement from Banque Privée 1818 says. Gourgand will lead the platform, which offers a wide range of investment products (banking, insurance, international, real estate), and many services for independent financial advisers (IFAs) and their clients, a statement says. Gourgand, 40, had for 4 years served as deputy CEO of development for the platform. Since 2007, he had been director of distribution for France at Financière de Champlain.
26/03/2014

Janus Capital tops USD1bn in French-speaking Europe

P { margin-bottom: 0.08in; } The US-based asset management firm Janus Capital Group, based in Denver, whose representative office in France was opened just 2 years ago, is planning to continue its development in French-speaking Europe. Assets under management in the French-speaking markets, which include France, Geneva, meaning French-speaking Switzerland, Luxembourg, and Monaco, at the end of 2013 had passed the symbolically significany USD1bn mark, Sylvain Agar, head of development for French-speaking Europe at Janus Capital, has told Newsmanagers at the firm’s annual conference. Janus Capital is now planning to take a further step in its development, continuing its development and diversification strategy in France, serving institutionals and IFAs, multi-managers and insurers, along with the promotion of certain strategies which had previously been less visible. These include the Janus Europe fund, whose assets total nearly EUR170bn, which invests in companies with sustainable competitive advantages, offers high returns which are set on rising trends, and long-term growth outlooks. The Irish-domiciled fund, launched in 2008, has posted double-digit returns higher than the index over one, three and 5 years.
26/03/2014

BlackRock CEO writes S&P500 companies

BlackRock chief executive Laurence Fink wrote a letter to the CEO of every S&P 500 company to warn them that dividends and buybacks that activists favor may create quick returns at the expense of long-term investment. «Many commentators lament the short-term demands of the capital markets,» Mr. Fink wrote in the letter reviewed by The Wall Street Journal. «We share those concerns, and believe it is part of our collective role as actors in the global capital markets to challenge that trend.»
26/03/2014

SEC to relax position on money market funds

P { margin-bottom: 0.08in; } The Securities and Exchange Commission, under pressure from the asset management industry, is preparing to introduce an exemption for a majority of money market funds from rules to curb risks, the Wall Street Journal reports, citing sources familiar with the matter. Money market funds dedicated to retail investors could maintain stable USD1 share prices instead of floating in value. During the crisis, retail investors pulled out of money market funds, but more slowly than big institutions.
26/03/2014

AllianzGI launches a maturity fund dedicated to emerging markets

P { margin-bottom: 0.08in; } Allianz Global Investors is offering a new maturity fund dedicated to emerging market corporate bonds, Das Investment reports. The Allianz Emerging Markets Bond Extra 2018 (WKN A1XCBQ), designed for retail clients, has been open to subscriptions since 24 March. Commissions total 0.99%. The portfolio will consist of 60% investment grade bonds and 40% high yield bonds. Assets in such dated funds managed by AllianzGI now total nearly EUR2bn.
26/03/2014

DeAWM offers a Chilton strategy in UCITS format

P { margin-bottom: 0.08in; } Deutsche Asset & Wealth Management (DeAWM) has launched an alternative beta startegy in UCITS format, Absolut Report reports. The DB Platinum Chilton Diversified (ISIN LU0983855841) is a long/short US equity strategy from Chilton Investment Company, available for the first time to a larger audience of investors. The fund has weekly liquidity and is open to institutional investors with an initial investment of at least USD10.000. It charges 2%, with a performance commission of 20%.
26/03/2014

LBBW fund closed to new investors

P { margin-bottom: 0.08in; } The LBBW Pro-Fund Credit I fund has been closed to new investors due to very strong demand which would have compliaated the management of the strategy, Universal Investment, which is responsible for administering the fund, has said in a statement. Assets in the fund managed by LBBW Asset Management now total EUR494m, largely due to strong demand from institutional investors and funds of funds. Since its launch in June 2010, the fund has earned returns of 3.64% per year, with volatility of only 1.55%.
26/03/2014

Stoxx index selected by a Low Volatility ETF froom State Street GA

P { margin-bottom: 0.08in; } The Euro Stoxx Low Risk Weighted 100 index from the index provider Stoxx Ltd has been selected by the asset management firm State Street Global Advisors to become the indicator for the SPDR Euro Stoxx Low Volatility ETF. The OPCVM format ETF is now available on Deutsche Börse Xetra. The Euro Stoxx Low Risk Weighted 100 index is a derivative of the Euro Stoxx index, but includes only 100 equities with the lowest volatility track record over the past 12 months.
26/03/2014

GLG Partners closes a fund and launches another

P { margin-bottom: 0.08in; } GLG Partners is launching an emerging market macro hedge fund, as it prepares to close another hedge fund, Citywire Global reports. The GLG Global Emerging Market Macro Alternative fund was officially launched on 13 March. It consolidates the current range from the firm in this area, and will be managed by the Macro and Relative Value team. At the same time, GLG EM Diversified Alternative will be closed on 3 April.
26/03/2014

Inflows to European ETFs remain very high in February

P { margin-bottom: 0.08in; } Net inflows to European ETFs in February totalled EUR3.4bn, near the record set in January (EUR3.63bn), according to the most recent monthly statistics of the Lyxor ETF Barometer. Due to a positive market effect, assets under managemet are up 4% compared with the end of 2013, at EUR299bn. Both equity and bond segments have benefited from tensions in emerging markets. Net inflows to bond ETFs totalled EUR1.9bn, twice the twelve-month average, compared with EUR1.44bn for equities, due an outflow of over EUR400bn from emerging market equities.
26/03/2014

Bankia partially spins off its real estate fund

P { margin-bottom: 0.08in; } After Santander and Sabadell (see Newsmanagers of 19 March 2014) Bankia has become the next firm to press the reset button for its real estate funds. The Spanish bank has informed the Spanish regulator, the CNMV, that it is planning to partially spin off its real estate fund, Bankia Inmobiliaro, Funds People reports. The decision will involve a partial segregation of its assets, transferring the assets liberated in a single bloc to the new vehicle, Bankia Monetario Euro Deuda III. The Spanish banking group is offering participants in the real estate fund the right to claim a partial redemption of sums invested, or to transfer their stakes at no cost throughout the month of April 2014. Bankia will remain the single participant in the real estate fund. Currently, via a liquidity windows opened in February for the fund’s 600 participants, who represent a total volume of EUR3.8bn, the banking group controls over 99% of assets in the fund, which has a total fo EUR283.8m.

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