Le chef économiste de Russell Investments, Mike Dueker, a été retrouvé mort dans ce qui s’apparente à un suicide, rapporte Business Insider. Il aurait sauté d’une passerelle près du pont Tacoma Norrows situé à Tacoma dans l’Etat de Washington aux Etats-Unis. Agé de 50 ans, Mike Dueker travaillait chez Russell depuis cinq ans.

Boursorama, qui présentait hier ses résultats annuels, a fait état en assurance vie d’une forte progression du niveau de collecte nette à 226 millions d’euros, en hausse de 136 %. Les encours totaux augmentent de 11 % à 2,9 milliards d’euros et le rapport UC/fonds en euros progresse à 25 %. Les encours OPCVM progressent également de 5 % à 822 millions d’euros dont les fonds non monétaires représentent 90 % des encours. L’activité courtage en ligne a été marquée par le rattrapage du nombre d’ordres exécutés au cours du second semestre. Avec 780 380 ordres traités au quatrième trimestre 2013, le volume d’ordres enregistré affiche une progression nette de +17 % par rapport au quatrième trimestre 2012. Par ailleurs, le groupe Boursorama a enregistré un produit net bancaire (PNB) en croissance de 3 % à 207,8 millions d’euros pour 2013, porté par la croissance de l’activité courtage dans les différentes implantations du groupe et de l’activité bancaire en France. Les charges d’exploitation sont en augmentation de +17 % sur l’année en raison d’investissements en France (effectifs, IT, marketing) pour accompagner la croissance du fonds de commerce et au Royaume-Uni pour assurer la remise à niveau des processus opérationnels. En conséquence, le Résultat Brut d’Exploitation (RBE) s’établit à 50,4 millions d’euros, soit une baisse de 24 % sur l’année, indique un communiqué.

Amundi ETF offre une nouvelle exposition sur NYSE Euronext à Paris destinée aux investisseurs souhaitant se positionner sur le segment des sociétés de petites capitalisations du marché actions américain.Amundi ETF Russell 2000 UCITS ETF (*) vise à répliquer au plus près l’évolution, à la hausse comme à la baisse, de l’indice Russell 2000 «Net Total Return», composé des 2000 plus petites capitalisations représentant les derniers 10% du marché américain, précise un communiqué publié le 6 février. Cet ETF propose une exposition diversifiée à l’économie domestique américaine et est offert avec un TER de seulement 0,35%, soit le moins cher du marché sur cette exposition.Dans un contexte de croissance de l’économie américaine, les investisseurs disposent ainsi au sein de la gamme Amundi ETF de plusieurs solutions en fonction de leurs anticipations et préférences en termes de taille de capitalisation, d’exposition sectorielle, et de choix de couverture du risque de change.Selon Valérie Baudson, Responsable du métier ETF et Indiciel d’Amundi,: «ce lancement illustre à nouveau notre volonté de lancer des produits à prix compétitifs et offre à nos clients une nouvelle brique d’allocation sur la gamme actions US»(*) code ISIN : part en euro : FR0011636190; part en dollar : FR0011636208

KKR affiche une santé insolente. En 2013, la firme de capital investissement a dégagé 2,19 milliards de dollars de bénéfice économique, en progression de 3 % sur un an. Sur le seul quatrième trimestre, ses profits atteignent 789 millions de dollars, en hausse de 127 % par rapport au quatrième trimestre 2012. A fin décembre 2013, ses actifs sous gestion s’élèvent à 94,3 milliards de dollars, contre 75,5 milliards de dollars à fin décembre 2012.

Blackstone a réalisé une année «record» en 2013. L’an dernier, la société de capital a enregistré un bénéfice net économique en hausse de 76 %, à 3,5 milliards de dollars. Sur le seul dernier trimestre, ses profits ressortent à 1,54 milliard de dollars, en croissance de 130 % par rapport au quatrième trimestre 2012. A fin 2013, ses actifs sous gestion s’élèvent à 265,7 milliards de dollars, en progression de 26 % sur un an. Sa collecte brute a atteint 17 milliards de dollars au quatrième trimestre et 60 milliards de dollars sur l’ensemble de l’année écoulée. En 2013, les fonds de Blackstone ont retourné 38 milliards de dollars de capitaux aux investisseurs.

La gestion d’actifs de l’assureur américain Prudential Financial poursuit sa croissance. A l’issue de son quatrième trimestre, ses actifs sous gestion ressortent à 869,9 milliards de dollars, soit une progression de 5 % par rapport au quatrième trimestre. Sur les trois derniers mois de l’année écoulée, cette activité a enregistré des souscriptions nettes auprès des institutionnels et des particuliers, hors monétaire, de 6,8 milliards de dollars, «soit le 20ème trimestre consécutif de flux nets positifs», s’enorgueillit la compagnie dans son communiqué de résultats.Au quatrième trimestre 2013, la gestion d’actifs a dégagé un résultat d’exploitation de 209 millions de dollars, en hausse de près de 13 % par rapport aux 185 millions de dollars enregistrés au quatrième trimestre 2012. Sur l’ensemble de l’exercice 2013, son résultat d’exploitation ressort à 723 millions de dollars, contre 584 millions de dollars en 2012, soit une progression de 23,8 % en l’espace d’un an.

Le Crédit Mutuel Arkéa et le management du groupe Primonial ont, dans un communiqué commun, annoncé être entrés en négociations exclusives à l’occasion de la recomposition de l’actionnariat du groupe Primonial. La structuration envisagée conduirait à une participation minoritaire de Crédit Mutuel Arkéa et à l’ouverture du capital à un fonds d’investissement pour accompagner le renforcement du management actuel au capital du groupe, indiquait, jeudi 6 février, le communiqué.Le Crédit Mutuel Arkéa et le groupe Primonial collaborent déjà au travers du partenariat qui unit Suravenir, la filiale d’assurance-vie du Crédit Mutuel Arkéa, et le groupe pour la commercialisation du contrat Sérénipierre. Ce dernier a engrangé plus de 400 millions d’euros de flux nouveaux en 2013. Le groupe Primonial a été fondé en 2010 par Patrick Petitjean - disparu en juillet 2013 - avec le management et le fonds d’investissement Naxicap Partners. L’entité compte près de 550 collaborateurs et développe une activité immobilière via une gestion directe et une gestion de SCPI et d’OPCI, ainsi qu’une activité de gestion d’actifs et de multigestion, et une activité de produits structurés. Fin décembre, Primonial affichait plus de 7 milliards d’euros d’actifs gérés ou conseillés après avoir collecté 2,51 milliards d’euros en 2013, dont des flux pour le compte de clients particuliers de 1,53 milliard d’euros et une collecte auprès des investisseurs institutionnels de 974 millions d’euros. Pour sa part, l’activité d’asset management a enregistré un doublement de l’encours géré par Roche Brune AM, une des boutiques du groupe dont Primonial a pris en octobre 2012 une participation de 70 % du capital. A cette occasion, Patrick Petitjean, qui dirigeait Primonial, avait confié à Newsmanagers que sa maison comptait ajouter un à trois nouveaux gestionnaires, ou fonds par an, et créer dans les mois à venir une plate-forme de distribution au Luxembourg. Fin janvier 2014, la gestion d’actifs s’est étoffée dans l’obligataire (convertibles et rendement) avec l’annonce d’une nouvelle prise de participation de 70 % au capital d’une petite boutique AltaRocca créée par deux anciens d’Oddo AM, Xavier Hoche et Muriel Blanchier. De son côté, le Crédit Mutuel Arkéa composé des fédérations du Crédit Mutuel de Bretagne, du Sud-Ouest et du Massif Central, possède une vingtaine de filiales spécialisées (Fortuneo, Monext, Financo, Federal Finance, Suravenir, CFCAL…).

Intesa et UniCredit discuteraient de la création d’une structure commune avec le fonds américain KKR, dans laquelle les deux premières banques italiennes prendraient chacune une participation minoritaire, écrivait hier La Repubblica que cite L’Agefi. L’initiative viserait en particulier les prêts restructurés, l’un des points d’attention des superviseurs bancaires cette année. Le montant nominal de ces encours déjà renégociés atteint 8,1 milliards d’euros chez UniCredit et 2,5 milliards chez Intesa.

P { margin-bottom: 0.08in; } Amundi EtF is offering a new exposure on NYSE Euronext Paris aimed at investors seeking to position themselves on the segment of small cap companies on the US equity market. Amundi ETF Russell 2000 UCITS ETF (ISIN code: EUR shares: FR0011636190; USD shares: FR0011636208) aims to replicate as closely as possible the evolution in both rising and falling markets of the Russell 2000 Net Total Return index, composed of the 2000 smallest caps, representing the last 10% of the US market, a statement released on 6 February states. The ETF offers diversified exposure to the domestic US economy, and is offered with a TER of only 0.35%, the least costly exposure to this market available. In a context of US economic growth, investors will have several solutions in the Amundi ETF range, depending on their expectations and preferences in terms of cap size, sectoral exposure, and hedging for currency risks. According to Valérie Baudson, head of the ETF and tracker profession at Amundi, “this launch once again illustrates our desire to launch products at competitive prices, and offers our clients another allocation brick in the US equity range.”

The pace of rationalization through closures of poor funds or via merger into stronger vehicles needs speeding up, according to The Cerulli Edge-Global Edition.Across Europe, Cerulli has identified 122 funds (excluding money market funds), controlling assets worth EUR42 billion that have been consistently «atrocious performers».A further 1,440 funds, with AUM of EUR24 billion, are undersized and unloved, launched between three to five years ago but still having failed to attract assets of more than EUR50 million. Looking at the longer-term picture, poor performance and low AUM overlap considerably.Fund fees are falling in Europe and this is putting pressure on profitability. Thus Cerulli would expect managers to pay particular attention to the viability of subscale funds.

P { margin-bottom: 0.08in; } Unlike the past two years, the first month of 2014 will be marked by massive redemptions related to concerns on emerging markets. ETPs dedicated to emerging markets have seen outflows never before seen in a single month, totalling USD10bn. The month of January finished with global outflows of USD9.7bn, largely related to redemptions from equity strategies, totalling USD10.8bn, according to initial estimates from BlackRock. Equities on developed markets outside the United States, however, have sustained lively interest, in the wake of a trend observed in the second half of 2013. Pan-European equities posted inflows of USD4bn, their best result since 2011. Equities from developed markets (global and global ex-US) represented USD3.7bn, while exposure to Japanese equities represented a further USD4bn. Outflows from US equities, which totalled USD12bn, have largely affected large caps, with redemptions totalling USD15.9bn, partly offset by subscriptions to sectoral strategies totalling USD2.9bn.

P { margin-bottom: 0.08in; } Laurent Misonne, who had previously been head of western Europe at SEB Asset Management, has been appointed as head of international sales. He succeeds Moritz Wendt, who six months ago became head of the institutional client department at SEB Wealth Management At the same time, Laurent Farcy-Briant, who had been head of sales for France and French-speaking Switzerland at SEB AM, has been promoted to head of sales for the French-speaking countries, including France, Switzerland, Belgium and Luxembourg.

P { margin-bottom: 0.08in; } Richard Skelt at the end of January left Fidelity Worldwide Investment after 23 years at the firm, Fund Web reports. He had been a strategist for the multi-asset class team at Fidelity Solutions. He had co-managed 10 funds, representing assets of USD6.4bn.

French groups Crédit Mutuel Arkéa and Primonial have released a joint statement announcing that they have entered exclusive negotiations regarding a recomposition of the shareholder structure of Primonial. The plans would result in a minority stake by Crédit Mutuel Arkéa in Primonial and the opening of the capital to an investment fund, a statement released on 6 February said.Crédit Mutuel Arkéa and the Primonial group already collaborate via a partnership that unites Suravenir, the life insurance affiliate of Crédit Mutuel Arkéa, and the group, to sell the Sérénipierre policy. That policy collected over EUR400m in new inflows in 2013.Primonial was created in 2010 by Patrick Petitjean, who died in July 2013, with the management and Nexicap Partners. As of the end of December, it managed more than EUR7bn.

P { margin-bottom: 0.08in; } The head economist at Russell Investments, Mike Dueker, has been found dead in what appears to be a suicide, Business Insider reports. He is understood to have jumped from a ramp near the Tacoma Narrows bridge in Washington state in the United States. Dueker, 50, had worked at Russell for five years.

P { margin-bottom: 0.08in; } Asset management at the US insurer Prudential Financial is continuing to grow. After its fourth quarter, assets under management totalled USD869.9bn, up 5% compared with fourth quarter. In the last three months of the past year, this activity has posted net subscriptions from institutionals and retail clients, excluding money markets, of USD6.8bn, “the 20th consecutive quarter of positive net inflows,” the company says in a statement of its results. In fourth quarter 2013, asset management earned operating profits of USD209bn, up by nearly 13% compared with USD185bn in fourth quarter 2012. For 2013 overall, operating profits total USD723bn, compared with USD584bn in 2012, up by 23.8% in one year.

P { margin-bottom: 0.08in; } BlackRock will liquidate its trust dedicated to energy, the Black New Energy trust, Money Marketing reports. Shareholders may be reimbursed in cash, but may also transfer their assets on 19 December this year to the BGF Energy fund, whose assets under management total USD1.4bn. The listing of shares will be suspended on 14 February, and redemptions will come on 17 February.

P { margin-bottom: 0.08in; } Baring Asset Management will close its Baring China Growth fund, with assets totalling GBP1.9bn. The fund will be closed after six years in existence due to its small size. William Fong, manager of the fund, will continue to manage Baring China Select.

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «Droid Sans Fallback"; font-size: 12pt; }P.ctl { font-family: «FreeSans"; font-size: 12pt; } The Swiss group Vontobel last year posted record net inflows of CHF9.1bn, according to a statement released on 7 February. Assets under management as of the end of December totalled CHF163.1bn, up 9% year on year. Consolidated profits for the 2013 fiscal year totalled CHF122.3m, stable compared with the previous year. Asset Management and Private Banking contributed 74% of profits. These results were, however, affected by one-time costs of about CHF20.7m largely related to the payment of withholding tax in the United Kingdom concerning its participation in the US tax programme. The board of directors will propose to a general shareholders’ meeting of Vontobel Holding AG to raise the dividend by 8%, to CHF1.30.

P { margin-bottom: 0.08in; } The Swiss financial sector service provider Solutions Providers on 6 February announced its arrival on the US market, with the opening of an office in New York. Konrad Niggli, currently a partner at Solution Providers Switzerland, will be responsible for the development of activities in the United States.

P { margin-bottom: 0.08in; } Lennart Benson, who was head of sales for the Northern European region at Natixis Global Asset Management, has let the firm, Fondbranschen reports. Benson had worked at Natixis since October 2010.

P { margin-bottom: 0.08in; } The British firm Hermes has decided to accelerate its development in Asia. The firm has transferred Jakob Nilsson to Singapore as head of development for Hermes in the region, Asian Investor reports. Nilsson joined Hermes in September 2012 as head of development for the Scandinavian countries. Hermes, whose assets under management total about USD42bn, would also like to sign distribution agreements in Taiwan, and is planning to develop in the Japanese market. Currently, assets under management coming from clients represent slightly over USD1bn.

P { margin-bottom: 0.08in; } The asset management firm Azimut in January 2014 recorded net inflows of EUR701m, of which more than EUR400m went to the Luxembourg sub-funds AZ Fund 1 and AZ Fund Multi Asset, Bluerating reports. Pietro Giuliani, deputy director of the firm, says that it is the best monthly inflow ever recorded at Azimut.

P { margin-bottom: 0.08in; } Pictet & Cie has recruited two people in Verona, near Venice, from Banca Aletti. They are Andrea Constantini and Laura Polato.

P { margin-bottom: 0.08in; } Poste Italiane, the Italian postal service, will be able to launch its own network of financial advisers, Bluerating reports. Employees of Poste will now be able to approach clients directly to offer them funds and insurance policies.

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «Droid Sans Fallback"; font-size: 12pt; }P.ctl { font-family: «FreeSans"; font-size: 12pt; } Several US attorneys general on 6 February announced that they are charging a Swiss asset manager. They accuse him of assisting clients from the United States to conceal millions from the US tax authorities at at least five Swiss banks, between the late 1990s and 2012, the news agency AWP reports. Some offshore accounts of these US clients were registered in the name of fictive companies based in Liechtenstein, US prosecutors allege, though they have not revealed the name of the company at which the asset manager worked, and state that he has not been arrested. They accuse him of collaborating in the matter with Edgar Palzer, a lawyer based in Zurich. Paltzer has pleaded guilty before a US federal court in Manhattan of helping US clients to evade taxes. He then agreed to cooperate with US authorities. The accused, who risks up to five years in prison, first worked as an adviser at a bank, and then became an asset manager at a company based in Zurich, according to prosecutors. He continued to help US citizens to find banks to conceal their fortunes, even as the US authorities expressed a clear desire to crack down.

P { margin-bottom: 0.08in; direction: ltr; color: rgb(0, 0, 0); }P.western { font-family: «Times New Roman»,serif; font-size: 12pt; }P.cjk { font-family: «Droid Sans Fallback"; font-size: 12pt; }P.ctl { font-family: «FreeSans"; font-size: 12pt; } Matthew Martoma, a former portfolio manager at SAC Capital, has been found guilty of insider trading by a jury in New York, the Financial Times reports, adding that it represents one of the largest victories of the US authorities against Wall Street corruption. The case, which lasted three weeks, demonstrated that certain doctors were sharing information on confidential clinical trials with hedge fund traders in exchange for thousands of dollars in fees. The charges were conspiracy and market fraud (two counts). For each one, Martoma can be sentenced 20 years in prison.

P { margin-bottom: 0.08in; } Union Investment is adding to its range of products. The German asset management firm announced on 6 February that it is launching a convertible bond fund which will target sustainable investments, solely for institutional investors. The fund, UniInstitutional Global Convertibles Sustainable, managed by Sven Hölzer, will be domiciled in Luxembourg, and will target businesses which respect sustainable development criteria, such as those of the international labour organisation, and which do not infringe human rights. Its investment universe includes international convertibles as well as derivatives, money market instruments and fixed or variable rate papers.

P { margin-bottom: 0.08in; } The US asset management firm AllianceBernstein has decided to rename its AllianceBernstein Greater China fund to AllianceBernstein China Opportunity Portfolio, Citywire reveals. The name change, effective since January, marks a desire on the part of the company to change its investment strategy for Chinese equities, which will now seek to concentrate more on the market overall than on specific domains. In the future, the vehicle will invest at least 80% of its total assets in businesses which are domiciled in and operate in China or Hong Kong. As of the end of December, the fund was primarily invested in Hong Kong (38%), China (31%), Singapore (10%) and Taiwan (9.8%), with 31 positions, nearly half of which were on financial institutions.

P { margin-bottom: 0.08in; } ABP, one of the largets pension funds in the world, with EUR300bn in asstes, will remain invested in three Israeli banks – Bank Hapoalim, Bank Leumi and Mizrahi Tefahot Bank – after concluding that they did not violate international laws on human rights, the Financial Times reports. The Netherlands-based pension fund had been in negotiations with the banks for more than one year, over concerns that they were financing Israeli settlements in the occupied Palestinian territories. The decision of ABP contradicts the position of PGGM, the second-largest pension fund in the Netherlands, which has ruled out investment in five Israeli banks due to problems associated with these settlements.