According to Das Investment, Schroders may soon be able to automatically verify the net asset value of its approcimately 1,400 funds within 45 minutes, instead of manually reporting them in spreadsheets. To achieve this, the British asset management firm will use the pControl platform from the software provider Milestone, which allows it to automate the task. Schroders will thus come into compliance with new regulatory requirements.

Roger Price-Haworth, the head of institutional development at BNP Paribas Investment Partners in the United Kingdom, has left the firm, Financial News reports. He joined the firm in February 2011. He will be joining Pictet.

According to new rumours overheard by Bloomberg and relayed by Investment Week, Aberdeen Asset Management is reportedly in talks to acquire Scottish Widows Investment Partnership (SWIP) from Lloyds Banking Group. The two parties have declined to comment, but Bloomberg emphasizes that if the transaction goes through, it will create the largest publicly-traded fund management firm in Europe, with assets of about GBP350bn.

Barclays will be withdrawing from 100 markets and cutting staff for its wealth management activity, in order to boost the weak profitability of the unit, the Financial Times reports. The number of markets in which the UK bank offers asset and wealth management services will be reduced from 200 to 70 by the end of 2016.

The specialist affiliate of the Royal Bank of Canada, RBC Investor & Treasury Services, tops the 2013 rankings of fnud administrators, carried out by R&M Fund Services. The rankings, based on a survey of over 100 fund managers and promoters throughout the world, place RBC at the top of the six service categories reviewed in the survey, including administration, valuation, communication and the quality of personnel. HSBC Securities Services takes second place in the general rankings, followed by JP Morgan, State Street, Société Générale Securities Services, BNP Paribas securities Services and Northern Trust. The rankings by country find that Société Générale Securities Services tops the rankings in France, and takes second place for continental Europe after RBC, and ahead of BNP Paribas Securities Services and JP Morgan.

The Swedish activist investor Cevian Capital has increased its stake in ThyssenKrupp to over 5%, the Financial Times reports. The increase in capital may favour an acceleration at the German steel maker.

Jan Peterhans will now serve as lead manager for the Swisscanto (CH) Equity Fund Emerging Markets fund, finews reports. The lead manager who had previously been responsible for the fund, Chi Tran Brändli, left the firm in July, according to information from Citywire reported by finews. Peterhaus is also the manager of two other emerging market funds, including the Swisscanto (CH)IF – Equity International AST BVG.

The British firm Standard Life Investments has recruited Virginia Devereux as head of sales in Asia, a newly-created position, Asian Investor reports. Devereux previously worked at Goldman Sachs Asset Management.

The asset management firm Principal Global Investors, based in Hong Kong, has recruited Jane Fung as head of fund distribution in Asia, Asian Investor reports. Fung previously worked at Old Mutual Global Investors (OMGI) as head of distribution. Fung will begin on 3 October, and will aim to offer the full product range from the asset management firm, including UCITS funds domiciled in Dublin, on the distribution platforms of wholesalers and private banks in the region. It will initially concentrate on Hong Kong and Sinagpore, and will then cover Chile, Indonesia, Korea, Malaysia, Taiwan and Thailand in the next few months. The fund is also interested in a market covered by the programme reserved for foreign qualified institutional investors in renminbi (RQFII) and the project to recognize cross-border mutual fund trades between Hong Kong and continental China.

BNP Paribas Wealth Management has nearly EUR2bn in socially responsible investment, the bank’s website indicated, meaning that assets of this type have doubled in the space of one and a half years.

After three years in existence, H2O Asset Management has built up a largely institutional and international client base. The asset management firm, co-founded and led by Bruno Crastes, has the unique quality of having attracted inflows largely from Asia and Australia in its first three years. Now, 80% of its EUR3bn in assets under management are from abroad, of which 70% are from Asia. In the future, the firm, which is part of the boutique multi-galaxy from Natixis, would like to give more weight to the French market, which accounts for 20% of total assets. Crastes considers this market “a domestic market,” although the firm is based in London.In order to give France a larger weight in terms of assets, while continuing to grow abroad, by 2015 H2O would like to “be more present commercially serving French investors, or to gain new clients. I would like to foreground our product range with the help of the sales teams from Natixis Global Asset Management and its international distribution platform,” says Crastes, who is counting on the entry of the funds from the range into various product rankings once they have a 3-year track record. Institutionals will of course be targeted, and H2O would also like to strengthen its client base among private banks, family offices and independent managers.

La Francaise AM has formed a partnership with Morgan Stanley and its FundLogic Alternatives platform, to offer investors access to alternative management vehicles that comply with UCITS regulations. The alliance also incluces Longchamp AM which will have a distribution role.The plans aim to create a fund of funds, LFP Global Absolute Return, which would invest in five hedge funds. Three funds had previously been selected and seeded by La Française AM: the MS Turner Spectrum UCITS Fund, MS Dalton Asia Pacific UCITS Fund and MS TCW Unconstrained Plus Bond Fund. The fund, which will have assets of EUR100m, will be targeted at French and international large institutionals.The fund comes as an addition to the alternative multi-management range from La Française AM, which already includes three products.

Major banks are continuing to improve their fulfilment of capital requirements introduced as part of banking reforms known as Basel III, according to a study released on 25 September by the Basel Committee of the Bank for International Settlements (BIS). As of 31 December 2012, major banks active internationally still needed to raise EUR115bn to reach their owners’ equity requirement of 7%, according to the report, on the basis of data collected from 101 major banks which are present internationally. The Basel committee says that the gap has been reduced by EUR82.9bn comared with June 2012. In order to put this figure in perspective, the Basel committee points out that total pre-tax profits and redistribution to shareholders totalled EUR419.4bn in 2012 at the banks under review. In the report, the Basel committee also observed that the hard proprietary capital level averaged 9.2% for the major banks, compared with 8.5% at the previous study, published in March. The study also focused on the Liquidity Coverage Ratio (LCR), which was revised in January 2013, and will come into effect on 1 January 2015. This averaged 119% for major banks, compared with 85% at the time of the previous study, on the basis of the old ratio. The Basel Committee report echoes a study undertaken separately by the European Banking Authority (EBA), which claims that the 42 major European banks still need EUR70.4bn to comply with a 7% capital requirement.

The iShares $ Corporate Bond Interest Rate Hedged UCITS ETF fund has been registered in France. It is a physical replication product, which offers exposure to government bonds and edging of interest rate risks through the sale of futures on government bonds with an ex ante duration equal to zero.The new iShares ETF is designed for investors seeking additional returns, but who are concerned about the impact of the evolution fo returns from government bonds on bond prices, as these returns are currently rising due to uncertainty surrounding the monetary policies of central banks.CharacteristicsName: iShares $ Corporate Bond Interest Rate Hedged UCITS ETFISIN code: IE00BCLWRB83Ticker: LQDHBenchmark: iBoxx USD Liquid Investment Grade IR Hedged IndexTotal expense ratio: 0.25%

Allianz Global Investors (AllianzGI) has announced the launch of the Allianz Global Small Cap Equity fund in France, for both institutional and retail investors. The fund aims to attract long-term capital growth and to outperform the MSCI World Small Cap Total Return index. The portfolio includes four allocations dedicated to geographical regions (North America, Europe, Japan and Asia), with each zone having the same weighting as the index. The principal manager, Andrew Neville, will aim to regain a neutral geographical allocation, adjusting the four underlying security selection strategies. The Global Small Cap portfolio reflects the best ideas of the four Small Cap portfolios from Allianz Global Investors. The fund invests in nearly 190 small businesses selected by local experts for their attractive risk/return profile. It privileges capitalisations of at least USD400m. AllianzGI has been managing Small Cap funds for 14 years in Japan, for 15 years in Asia Pacific and for 30 years in the United States. The fund is registered in several European markets: Austria, Finland, Germany, Luxembourg, Netherlands, Norway, Sweden, and the United Kingdom. It is domiciled in Luxembourg.

In cooperation with the real estate specialist Palmira Capital Partners, UK-based Henderson Global Investors (HGI) has raised EUR230m from German and Austrian institutional investors for its German real estate fund (Spezialfonds) Henderson German Logistics Fund. With leverage, the volume total EUR350m, which was the initially projected amount.This is the second German real estate Spezialfonds from HGI. The product, for which Palmira advises Henderson for the entire investment process, aims for returns of 8% per year. It is administered on the IntReal International Real Estate KAG platform.The portfolio, managed by Thorsen Kiel, will invest for the long term in high-quality and well-located logistical properties. Currently, it includes six logistical properties located in Bad Dürkheim, Bruchsal, Winsen an der Luhe and Herrenberg (Stuttgart), while other acquisitions are in preparation.

With the German-registered fund Catella Multitenant Stiftungsfonds, Catella Real Estate has created a real estate fund aimed particularly at charities. The portfolio will be invested exclusively in A and B class shares in the centre of German cities, with a predilection for office and commercial properties as well as parking facilities, with a total unit value fo EUR10m to EUR30m. The objective to raise about EUR150m. The first investment was made in late July in Frankfurt (Reuterweg 47) in an office property of 2,500 square metres.Catella aims for annual distributions of 4-5%, and the investment process is largely dedicated to sustainable development, with valuation of assets from this point of view undertaken in cooperation with J. Safra Sarasin bank.CharacteristicsName: Catella Multitenant StiftungsfondsISIN code: DE000A1J3MZ0Minimal subscription: EUR100,000Management commission: 0.75% of assets invested in real estateSustainable development commission: 0.10% of the avg market value of the properties

Shortly after announcing that it is taking over from SEB the depository banking functions for seven Ampega funds (see Newsmanagers of 3 September), the Frankfurt-based firm Hauck & Aufhäuser Privatbankiers has announced that it will also serve as depository bank for the Ampega fund launched to exploit the ideas of Professor Max Otte, a fund which is advised by Neuer Vermögen, for which Otte himself is the principal adviser.The allocation product, the Max Otte Vermögensbildungsfonds AMI, was launched on 1 July.CharacteristicsName: Max Otte Vermögensbildungsfonds AMIISIN code: DE000A1J3AM3Front-end fee: 4%Management commission: 1.44%Advisory commission: 0.36%Minimal subscription: EUR500

Mandarine Gestion is planning to launch a multi-asset class fund by the end of this year, Citywire reveals. The Luxembourg-registered product will invest in equities, bonds and currencies orldwide. It will be managed by Françoise Rochette, Ludovic Dufour and Thomas Vlieghe.

Guggenheim Investments (USD151bn in assets) on 24 September launched two new ETFs, bringing the number of corporate high yield fixed maturity ETFs under the BulletShares brand (USD1.9bn, +107% YTD) to 18.The new funds are the Guggenheim BulletShares 2019 High Yield Corporate Bond ETF (NYSE Arca ticker: BSJJ) and the Guggenheim BulletShares 2020 High Yield Corporate Bond ETF (BSJK). The two new products charge fees of 0.24%.

Lyxor Asset Management is this Thursday launching an ETF on the French market, the Lyxor Ucits ETF SG European Quality Income, dedicated to equities which offer quality income, based on a new index launched the same dat, the SG European Quality Income index (SGQE), with a selection of non-financial European companies chosen for their solidity and their potential to generate income. The new index is an applied subset for Europe of the global index, the SG Global Quality Income Index, which was launched in October, and which was also used for an ETF fund, the Lyxor ETF SG Global Quality Income, whose assets under management most recently totalled EUR550m.

Oddo AM has launched Oddo Optimal Income, a flexible bond fund which also offers moderate exposure to equities. The flexibility of the investment strategy of the fund on bond markets (Investment Grade, High Yield and unrated) aim to allow for opportunities for returns which are still present to be seized, while seeking to protect the portfolio from a potential rise in interest rates. It is also an opportune time to begin increasing exposure to equity markets again, with particular attention to managing volatility, Oddo AM adds. Oddo Optimal Income invests in two asset classes with a target allocation of the portfolio of 75% (+/-5%) to European corporate bonds, and 35% (+/-5%) to European equities. Exposure to fixed income and equity markets may be partially or entirely hedged. The fund is managed by Alain Krief, as head of the Fixed Income team, Elodie Lehmann for the equity portion, and Laurent Denize as head of investment solutions. General characteristics ISIN code: FR0011540525

On 23 September, T. Rowe Price Associates and T. Rowe Price Equity Series asked the SEC to be exempted from a requirement to comply with the Investment Company Act of 1940, so as to be able to launch active strategy ETFs for which it would be allowed not to publish the lines of the portfolio on a daily basis.This is the same request made recently by Eaton Vance, which submitted an application for a license to be permitted to launch exchange-traded managed funds, or ETMFs (see Newsmanagers of 16 September).

The wealth management firm GAM Holding Group (GAM) a spin-off from Julius Baer, on 26 September announced that it has appointed Henry Choon as head of distribution and marketing activities in the Asia-Pacific region, from 4 November. The new head, who had previously worked at Lazard Asset Management, will join the Hong Kong team, currently composed of 45 employees, the group says in a statement.

Inflows to equity funds worldwide have risen in the past few months. This trend is particularly marked in the category of European equity funds, the financial ratings agency Fitch Ratings reports in its most recent study of the European equity sector. Inflows have been rising since May to over EUR12bn in August, a level not seen in six years.

Pimco on 24 September announced the launch of the PIMCO GIS Capital Securities Fund, a fund which is based on an international approach to subordinate debt instruments issued by banks, insuers and other specialist financial companies. The fund is managed by Philippe Bodereau, managing director and head of analysis of financial institutions worldwide at the London offices of Pimco. Bodereau has since July 2011 been managing assets in the strategy, which has posted annual returns of 12.29% ince its launch, an outperformance of 11.92% compared with the benchmark index. The fund offers investors strategic long-term allocation to the international financial sector, largely through subordinate, hybrid and contingent convertible bonds. It is able to invest in the entire capital structure, on the basis of an evaluation of risks and relative value carried out by Pimco. The fund comes as an addition to the Global Investor Series (GIS) range from Pimco, which complies with UCITS regulations. The Dublin-registered range now includes 47 sub-funds, with over USD130bn in assets under management as of the end of August 2013.

Dominique Strauss Kahn (DSK) prend la présidence du conseil d’administration du Groupe Anatevka. Pour tenir compte des changements de gouvernance, la dénomination sociale de la société Anatevka Compagnie Financière sera modifiée en «Leyne, Strauss-Kahn & Partners, Compagnie Financière» ou «LSK», a annoncé le groupe financier mercredi 25 septembre."Depuis près de deux ans, Dominique Strauss-Kahn oeuvre dans le monde entier en tant que conseiller de gouvernements étrangers, notamment pour la Serbie ou le Soudan du Sud, et de plusieurs entreprises, telles que la Banque Russe de Développement des Régions, le Russian Direct Investment Fund, la National Credit Bank ou un consortium de banques marocaines. Afin de développer ces nouvelles activités, l’ancien ministre de l’Economie et des Finances a souhaité s’appuyer sur les équipes et la présence internationale de la Compagnie Financière Anatevka», indique un comuniqué. Dominique Strauss-Kahn compte y développer une activité de banque d’affaires internationale. Le groupe Anatevka Compagnie Financière rassemble aujourd’hui différents pôles d’activités financières réglementées, dont la gestion d’actifs (Groupe Assya), le corporate finance, l’intermédiation financière et l’assurance (Groupe Firstcaution).Thierry Leyne, qui a fondé le groupe en 1994, conservera la présidence de ses filiales.

Pimco a annoncé le 25 septembre le lancement du PIMCO GIS Capital Securities Fund, un fonds qui repose sur une approche internationale des instruments de dette subordonnée émis par des banques, des compagnies d’assurance et d’autres sociétés financières spécialisées. Le fonds est géré par Philippe Bodereau, Managing Director et responsable de l’analyse sur les institutions financières à l’échelle mondiale au bureau de Londres de Pimco. Philippe Bodereau gère depuis juillet 2011 des actifs dans le cadre de cette stratégie qui a enregistré une performance annualisée de 12,29% depuis son lancement, soit une surperformance de 11,92% par rapport à l’indice de référence.Le fonds offre aux investisseurs une allocation stratégique sur le long terme au secteur financier international, principalement par le biais d’obligations subordonnées, hybrides et de type contingent convertible. Il est en mesure d’investir dans l’ensemble de la structure du capital, sur la base de l'évaluation des risques et de la valeur relative effectuée par Pimco.« L’environnement de marché reste favorable à l’appréciation des titres de capital bancaire, les banques poursuivant sur la voie du désendettement aux quatre coins du monde. Par ailleurs, le renforcement de la réglementation bancaire devrait limiter les faillites grâce à l’amélioration rapide des réserves de fonds propres » estime Philippe Bodereau, ajoutant que «le Pimco GIS Capital Securities Fund investit dans les émetteurs financiers qui offrent les meilleures opportunités aux yeux des 16 traders et analystes spécialisés que compte notre équipe et réunissent leurs plus fortes convictions».Le fonds vient étoffer la gamme Global Investor Series (GIS) de Pimco, conforme à la réglementation UCITS. Cette gamme enregistrée à Dublin comprend désormais 47 compartiments, avec plus de 130 milliards de dollars sous gestion à fin août 2013. Outre une liquidité quotidienne, ces fonds offrent aux investisseurs la possibilité de s’exposer à un alrge éventail de classes d’actifs incluant notamment les fonds obligataires traditionnels globaux et régionaux, les portefeuilles de crédit, les actions et les solutions alternatives et d’allocation d’actifs. Les fonds sont accessibles dans différentes classes d’actions libellées dans diverses devises, en fonction des exigences du client.

Depuis le 20 septembre, le montant plancher de souscription pour les classes de part standard et retail (R) des fonds de Comgest Asset Management International Limited a été ramené respectivement de 10.000 à 50 dollars ou euros et de 200 à 10 euros.

EFG Asset Management a nommé Jelena Davidson, économiste de formation, au poste de directrice «Business Development» en Suisse. L’intéressée sera responsable de l’accompagnement des intermédiaires et basée à Zurich. Avant son nouveau poste, Jelena Davidson travaillait pour UBP Asset Management à Genève. Avant, elle était responsable du développement de l’activité gestion alternative de Reyl Asset Management.