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10/12/2013

Calamos Investments revoit ses structures

Le gestionnaire d’actifs américain Calamos Investments a indiqué qu’il envisageait de revoir ses structures à la suite du départ de Nick Calamos, qui a dans un premier temps (août 2012) arrêté la gestion au jour le jour et qui a désormais abandonné la société et son appartenance au conseil d’administration, rapporte Citywire.Il a été remplacé par Gary Black, qui a rejoint Calamos à l'été 2012. Avant son départ, Nick Calamos a cédé la totalité de ses intérêts dans Calamos Family Partners au fondateur et CEO de la société, John Calamos Senior.
10/12/2013

Amundi en quête d'acquisitions en Asie

Amundi prévoit de renforcer sa présence en Asie et cherche des acquisitions dans la région, est en mesure de révéler Citywire. S’exprimant au cours de de Citywire Asia, Pascal Blanqué, le directeur des investissements de la société de gestion française, a déclaré qu’ils étaient actuellement en train d’étudier la meilleure façon de procéder. « Nous gardons un œil sur des acquisitions ciblées en Asie du Sud-Est, notamment des acquisitions externes pour renforcer notre pôle obligataire », a-t-il déclaré.
10/12/2013

DNCA Finance affiche une collecte record en Italie

Dans un entretien à Bluerating, Enrico Trassinelli, le responsable Italie de DNCA Finance, indique avoir enregistré une collecte record depuis le début de l’année : 1,2 milliard d’euros. Il déclare : « l’Italie est l’un de nos marchés préférés ».
10/12/2013

Azimut collecte près de 3 milliards d’euros depuis janvier

La société de gestion italienne Azimut a terminé le mois de novembre sur des souscriptions nettes de 228 millions d’euros (dont plus de 190 millions sur les compartiments des fonds de droit luxembourgeois AZ Fund 1 et AZ Fund Multi Asset), rapporte Bluerating. Depuis le début de l’année, Azimut a enregistré une collecte nette totale de 2,95 milliards d’euros, dont 2,94 milliards d’euros dans les produits de gestion d’actifs. Le total des encours sous administration dépasse 23,5 milliards d’euros, dont 21,1 milliards sous gestion, soit une hausse de 20,6 % depuis le début de l’année.Pour Pietro Giuliani, président et CEO d’Azimut, ces résultats devraient permettre à Azimut de terminer l’année sur un bénéfice compris entre 130 millions et 160 millions d’euros.
10/12/2013

Skandia rapatrie en interne la gestion d’obligations suédoises

Skandia a rapatrié en interne la gestion de ses fonds obligataires suédois, rapporte Fondbranschen. Cela représente un encours de 10 milliards de couronnes, qui étaient jusqu’ici gérés par DNB. L’équipe obligataire de Skandia gère déjà 100 milliards de couronnes.
10/12/2013
Fonds

ARCM lève 1,1 milliard de dollars pour son nouveau hedge fund

Asia Reserach & Capital Management (ARCM), l’un des plus gros hedge funds de la région Asie-Pacifique, a levé 1,1 milliard de dollars pour son nouveau hedge fund, rapporte l’agence Reuters.ARCM, fondée par Alp Ercil, l’ancien patron pour l’Asie de Perry Capital, est l’un des plus gros hedge funds de la région depuis le lancement l’an dernier d’un hedge fund de 940 millions de dollars. Les actifs sous gestion d’ARCM s'élèvent désormais à plus de 2 milliards de dollars, ce qui en le fait entrer dans le club très fermé des moins de trente hedge funds de cette taille en Asie, selon des chiffres d’Eurekahedge.A la différence du premier fonds à trois ans, le deuxième fonds est un fonds à cinq ans, ce qui le rapproche d’un véhicule de private equity.
Fonds
10/12/2013

Threadneedle: un nouveau directeur pour la clientèle institutionnelle en Suisse

Threadneedle Investments a annoncé le 9 décembre la nomination de Noël Luchena au rôle de directeur commercial clientèle institutionnelle au sein de l’équipe suisse. Avant de rejoindre Threadneedle le 2 décembre dernier, Noël Luchena était chargé de la clientèle institutionnelle au Crédit Suisse, au sein duquel il avait exercé diverses responsabilités depuis 2000, plus récemment en tant que vice-président responsable de comptes institutionnels dont les mandats sous gestion s’élevaient à 9 milliards de francs suisses. En 2011, Noël Luchena avait participé à une affectation auprès de Crédit Suisse Asset Management à New York durant laquelle il était spécialisé sur les investissements alternatifs (hedge funds, matières premières).
10/12/2013

Geoffroy Bazin prend la présidence de BNP Paribas (Suisse)

BNP Paribas (Suisse), filiale helvétique du groupe bancaire français, a nommé Geoffroy Bazin au poste de président de la direction générale. Ce dernier succède à Pascal Boris qui a rejoint le conseil d’administration, a annoncé la banque le 9 décembre.Geoffroy Bazin, âgé de 50 ans, a débuté sa carrière en 1988 à BNP Paribas à Paris, en tant que responsable de l’activité transactions de marché. En 2003, il a pris la direction de BNP Paribas Securities Services au Luxembourg, avant d'être nommé directeur financier et membre du conseil d’Investment Solutions à Paris.BNP Paribas (Suisse) compte quelque 1.700 collaborateurs dans ses filiales de Genève, Zurich, Bâle et Lugano.
10/12/2013

Zurich selects BlackRock for passive management mandates

Zurich UK group has selected BlackRock for the passive management of a portion of its unit-linked accounts, Money Marketing reports. BlackRock succeeds Threadneedle, which retains the management of the active portion of its funds.
10/12/2013

Italian ministers approve law to transpose AIFM directive

The Italian council of ministers has approved a draft decree which transposes the AIFM directive, Assogestioni, the Italian association of asset management professionals, reports. The text, which must now be studied by the parliamentary Commissions, accepts several proposals by the AIFMD task force of Assogetioni, including recognition for a temporary regime to allow asset management firms which are “promoted” to adapt to the new framework. There are also plans to retain the national model for harmonized UCITS funds, which allows asset management firms to contract with the depository to undertake calculation of net asset value; to introduce a new investment vehicle known as the SICAF; to provide an extended definition of the “Italian FIA reserve,” which included not only professional investors in the sense of MIFID, but also other categories of investors, who will be identified by the MEF. Asset management firms which managed Italian FIAs before 22 July will be allowed one year to adopt all necessary measures to comply with the terms of the AIFM directive.
10/12/2013

Spanish asset management firms pass on 68% of their commissions

According to the most recent quarterly report from the Spanish regulator, CNMV, Spanish asset management firms in the first six months of the year paid out EUR458m in sales commissions on their funds, out of EUR678m which they made in the form of commissions, which represents a percentage of 67.5%, Funds People reports. The nine largest firms by assets pay kickbacks of over 48%, while Bestinver (Acciona group) pays out only a little over 5%. Santander AM and BBVA AM pay out 84% and 83%, respectively, of their commissions, compared with 74% at Bankia Fondoa and 48% at IberCaja Gestión.
10/12/2013

Jupiter's CEO to step down

Edward Bonham Carter will on 17 March be leaving his position as CEO of Jupiter, after 14 years at the head of the British asset management firm. He will also leave the executive board, but will remain on the board of directors, and becomes vice-chairman. Bonham Carter will be repaced as CEO by Maarten Slendebroek, who had previously been director of distribution and strategy. The Swedish-Dutchman joined Jupiter in September 2012 from BlackRock, where he had been head of the international retail activity, and was before that head of BlackRock Solutions for the European region.
10/12/2013

Sovereign wealth funds have become respectable

A decade ago, the perception of sovereign wealth funds in the public sphere was negative. After the financial crisis in 2008, this negative connotation become a bit more accentuated. “The possibility that sovereign wealth funds could control British companies and infrastructures led to initial hesitation and fears about undesired foreign influence … These initial fears have dissipated and are no longer effective in 2013, as the increased efforts of the British government to court sovereign funds reveals,” economist Nicholas Garrott, an adviser to the mayor of London, writes in an article to be published in the quarterly publication Sovereign Wealth Quarterly (January 2014).
10/12/2013

Kames Capital adds to its bond team

Kames Capital has aded to its bond team, with the appointment of derivatives specialist Nick Chatters, Citywire reports. In his new role, Chatters will be responsible for the implementation of derivative trading for his main clients. Chatters previously worked at Citibank, where he was responsible for the development of derivative valuation activities.
10/12/2013

Kames Capital adds to its bond team

Kames Capital has aded to its bond team, with the appointment of derivatives specialist Nick Chattas, Citywire reports. In his new role, Chatters will be responsible for the implementation of derivative trading for his main clients. Chatter previously worked at Citibank, where he was responsible for the development of derivative valuation activities.
10/12/2013

Appointment at Threadneedle in Switzerland

Threadneedle Investments (Threadneedle) on 9 December announced the appointment of Noël Luchena as director of sales in charge of institutional clients on the Swiss team. Before joining Threadneedle on 2 December this year, Luchena was responsible for instituitonal clients at Credit Suisse, where he held a variety of responsibilities beginning in 2000, most recently as vice president in charge of institutional accounts, whose mandates under management total CHF9bn. In 2011, Luchena took an assignment at Credit Suisse Asset Management in New York, during which he specialised in alternative investments (hedge funds, commodities).
10/12/2013

Lloyds Banking Group to liquidate its stake in SJP

Fundweb reports that Bank of America Merrill Lynch has been tasked by Lloyds Banking Group with placing the remaining 21% stake that the bank still holds in St James’s Place (SJP), an investment which is expected to generate capital gains of about GBP95m, with institutional investors.The announcement follows the expiry of the 180-day unwaivable lock-up period during which Lloyds could not dispose of further stakes in SJP
10/12/2013

Allianz GI hires LDI specialist

Teoman Kaplan, head of the management team at Nomura Bank for fiscal affairs, liability-driven investment and risk management at Nomura Bank, has been recruited by Allianz Global Investors (AGI) for its insurer assistance team in the area of liability-driven investment (LDI), Das Investment reports.
10/12/2013

Deutsche Bank scales up internal controls

Deutsche Bank on 9 December announced the recruitment of Thomas Poppensieker as head of internal controls. Poppensieker will be responsible for the implementation and reinforcement of internal controls for all divisions and infrastructure. He will begin in the role on 1 January 2014, and will report to the co-chairman of the board, Jürgen Fitschen and Anshu Jain. Poppensieker previously worked at McKinsey as head fo the risk management practice in Germany.
10/12/2013

Real estate funds increasingly invest in hotels

In the first nine months of this year, investments in German real estate funds and real estate properties totalled EUR1.1bn, which represents an increase of 75% compared with the corresponding period of last year, according to statistics from CBRE relayed by the Berlin-based agency Scope.In terms of open-ended real estate funds in particular, the proportion of hotel properties in the 15 funds monitored by Scope was 5.4% in 2011, and increased to 5.7% last year, from 2.2% in 2007. As of the end of 2012, that presented EUR3.4bn.In 2012, German open-ended real estate funds invested EUR188m in hotel properties. The four funds with the highest proportions of investment in hotels as of the end of 2012 were UniImmo Deutschland (12.1%), WestInvest InterSelect (11.5%), UniInstutional European Real Estate (9.5%) and WestInvest ImmoValue (6.1%).
10/12/2013

Very good year for Hennessy Advisors

Assets under management at the US asset mangement firm Hennesy Advisors have increased from USD919m at the beginning of the 2012/2013 fiscal year, in September 2012, to USD4.03bn as of the end of September 2013, according to a statement released by the firm. The growth in assets was driven by the acquisition of USD2.2bn at FBR funds in October 2012, a steep rise in the market of about USD648m, and a net inflow of about USD243m. This very strong growth in assets has allowed the firm to earn record net profits of USD4.8m.
10/12/2013

Calamos Investments revises its structures

The US asset management firm Calamos Investments has announced that it is planning to revise its structures following the departure of Nick Calamos, who had initially (August 2012) stepped back from day-to-day management of the firm, and then abandoned the firm and his membership on the board of directors, Citywire reports. He has been replaced by Gary Black, who joined Calamos in summer 2012. Before his departure, Calamos sold his entire stake in Calamos Family Partners to the founder and CEO of the firm, John Calamos Senior.
10/12/2013

J.P. Morgan AM targets UK fixed income fund market

J.P. Morgan Asset Management, seeking to enlarge its presence in the UK bond investment market, is preparing the forthcoming launch of a series of new fixed income funds, according to Investment Week. The US firm is also planning to scale up its Luxembourg-domiciled Sicav activity, with the launch of new open-ended investment company (OEIC) versions, or direct releases of its products in dedicated platforms.The funds which will be launched on the British market include the JPM Income Opportunities Fund, an absolute return vehicle with USD6.7bn in assets, as well as two emerging market debt funds: the Emerging Market Debt Local Currency, with USD3.6bn, and the Emerging Market Debt fund, with EUR1.2bn. These vehicles will come as an addition to the bond range at JPMAM, which in the United Kingdom currently includes only four funds.
10/12/2013

Azimut posts inflows of nearly EUR3bn since January

The Italian asset management firm Azimut finished the month of November with net inflows of EUR228m (including more than EUR190m for the sub-funds of the Luxembourg-registered funds AZ Fund 1 and AZ Fund Multi-Asset), Bluerating reports. Since the beginning of the year, Azimut has posted total net inflows of EUR2.95bn, of which EUR2.94bn have been for asset management products. Total assets under administration come to over EUR23.5bn, of which EUR21.1bn are under management, in increase of 20.6% since the beginning of the year. Pietro Guiliani, chairman and CEO of Azimut, says these results are expected to allow Azimut to finish the year with total profits of EUR130m to EUR160m.
10/12/2013

J.P. Morgan AM targets British bond fund market

J.P. Morgan Asset Management, seeking to enlarge its presence in the British bond investment market, is preparing the forthcoming launch of a series of new bond funds, according to the British website Investment Week. The US firm is also planning to scale up its Luxembourg-domiciled Sicav activity, with the launch of new open-ended investment company (OEIC) versions, or direct releases of its products in dedicated platforms. The funds which will be launched on the British market include the JPM Income Opportunities Fund, an absolute return vehicle with USD6.7bn in assets, as well as two emerging market debt funds: the Emerging Market Debt Local Currency, with USD3.6bn, and the Emerging Market Debt fund, with EUR1.2bn. These vehicles will come as an addition to the bond range at JPMAM, which in the United Kingdom currently includes only four funds.
10/12/2013

Schroders liquidates US equity fund

The British firm Schroders has decided to close a US equity fund which attracted less than GBP7m in assets over two years, Fundweb reports.According to data released as of the end of October, assets under management in the Schroder Alpha Plus, launched on 14 December 2011, totalled GBP6.6m.The fund has outperformed its benchmark index, the S&P 500, with returns of 43.3% from its launch until 31 October, compared with 42% for the index. However, the fund did not attract enough assets to be viable, whence the decision to close the fund, which has taken effect from 27 November 2013.
10/12/2013

Asset management firms want a foothold in the ETF market

Asset management firms are seeking a foothold on the ETF market, by creating their own version of these products, actively-managed ETFs, the Financial Times observes. So far, 68 ETFs of this type exists, representing over USD14bn in assets. Many think that the assets will grow and reach more than USD100bn.
10/12/2013

Hedge funds made nearly 1% in November, according to Lyxor

The Lyxor hedge fund index in November has posted returns of 0.94%, meaning that cumulative gains since the beginning of the year come to 5.79%.The three best-performing strategies last month were CTA long term (+4.2%), long/short equity market neutral (+1.7%), and CTA short-term (+1.6%). However, global macro and fixed income arbitrage have seen respective losses of 0.74% and 0.69%.In the first eleven months of the year, only two strategies out of eleven show losses. They are fixed income arbitrage (-0.45%) and CTA short-term (-3.86%). However, long/short equity long bias has posted gains of 14.56%, and special situations are up by 11.32%.
10/12/2013

Launching of the "Europlace Factbook"

Paris EUROPLACE announced yesterday the launch of the Paris financial market Factbook, openly available through the Paris Europlace website: www.paris-europlace.com . Following recommendations from the Haut Comité de Place (Paris Financial Services High-Level Committee), the «EUROPLACE Factbook» aims to make available to both European and international professionals – issuers, investors, banks, financial intermediaries, market authorities, etc. – key data concerning the activities of both the Paris financial market and other major European markets. It will thus provide a follow up tool of the Paris marketplace’s competitiveness serving the real economy in Europe. This statistical tool was put together with the support of Banque de France and the contribution of the leading professional associations of the Paris marketplace, AFG (French Asset Management Association), FBF (French Banking Federation), AFIC (French Association of Investors in Growth), FFSA (French Federation of Insurance Companies). The «EUROPLACE Factbook» will be monitored by a Steering Committee, which will regularly update the main new trends of the Paris Financial marketplace and its environment.
10/12/2013

Catella establishes property asset management in France

Swedish financial group Catella will establish property asset management activities in France from spring 2014. This will take place under the leadership of François Brisset, previous managing director and co-founder of DTZ Asset Management.The new entity will focus on investment management, asset management and property management on behalf of French and foreign investors, according to a press relase.“To meet a growing demand from investors for secure and tailor-made investments, it is our intention to structure, host and manage investment vehicles on behalf of third-party investors. We will be active within commercial real estate and residential,” says François Brisset, head of property asset management in France.Catella has an asset management operation in Europe with EUR 5 billion under management, of which EUR 2 billion is within property. The property asset management mainly consists of regulated property funds managed from Munich. The French operation will complement the group’s offer within property services in Europe. The asset management platform will be independent of Catella’s property advisory services in France, with a separate office in Paris.

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