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16/09/2013
Fonds

Les actifs de Trian Partners dépassent 7 milliards de dollars

Le hedge fund activiste Trian Partners a dépassé la barre des 7 milliards de dollars d’actifs sous gestion, indique Institutional Investor Alpha. Ces encours s’affichent en hausse de 11 % depuis le niveau enregistré au premier juillet (6,3 milliards de dollars). Une grande partie de la croissance des encours serait le résultat de bonnes performances. Les fonds ont gagné 24 % sur les huit premiers mois de l’année.
Fonds
16/09/2013

Amundi prêt à des acquisitions dans les ETF

Amundi est disposé à envisager des opportunités d’acquisition en vue de devenir l’un des trois fournisseurs d’ETF en Europe, rapporte le Financial Times fund management. Des rumeurs indiquaient d’ailleurs récemment que le groupe était intéressé par Lyxor."Nous envisagerions avec force de participer à tout processus de concentration dans le secteur européen des ETF», indique Valérie Baudson, managing director de l’activité ETF et fonds indiciels d’Amundi (50 milliards de dollars). «La taille est importante dans le secteur des ETF (…). Nous avons pour ambition de devenir plus gros», ajoute-t-elle.
16/09/2013

Atos annonce le remboursement anticipé des OCEANEs 2009 et des rachats d'actions

Atos SE a décidé de procéder au remboursement anticipé de la totalité des OCEANEs émises en 2009 et à échéance au 1er janvier 2016, selon un communiqué publié le 16 septembre. Un avis en ce sens, figurant en annexe, sera publié au Journal Officiel et au Bulletin des Annonces Légales Obligatoires le 18 septembre prochain.Les porteurs d’OCEANEs 2009 auront l’option de convertir leurs instruments en actions Atos SE à raison de 1,03 action Atos SE pour une OCEANE 2009 présentée, ou de bénéficier d’un remboursement en numéraire sur la base d’un montant de 47,08708 euros par OCEANE 2009 au plus tard le 9 octobre 2013.Dans l’hypothèse où la totalité des porteurs choisiraient l’option de conversion, le nombre d’actions nouvellement créées serait de 5,6 millions. La situation de trésorerie nette au bilan du Groupe serait alors augmentée d’un montant de 230 millions d’euros. Dans ce contexte, le Conseil d’Administration a décidé, en vertu de l’autorisation donnée par l’Assemblée Générale Mixte d’Atos SE du 29 mai 2013, d’initier dans le même temps un programme de rachat d’actions Atos SE correspondant à la moitié de ce montant, soit 115 millions d’euros, qui sera lancé dans les prochains jours et réalisé au cours des six prochains mois. Le prix maximum et les autres modalités de ce programme seront conformes à la résolution approuvée par l’Assemblée Générale Mixte d’Atos SE du 29 mai 2013 et les opérations effectuées dans le cadre de ce programme feront l’objet d’une communication régulière au marché, conformément à la réglementation en vigueur.Les actions ainsi rachetées ont vocation à être soit annulées, soit remises dans le cadre de la gestion d’autres instruments dilutifs.
16/09/2013
Fonds

Lyxor fait coter un nouvel ETF à Paris

NYSE Euronext annonce avoir admis à la négociation le 13 septembre un nouvel ETF d’obligations souveraines italiennes lancé par Lyxor sur la place de Paris. Cela porte à 560 le nombre d’ETF négociés sur les places européennes de NYSE Euronext, le total en comptant les notations secondaires atteignent les 650 unités.CaractéristiquesDénomination : LYXOR ETF MTSIT10Indice de référence : MTS 10Y Italy Government BondTaux de frais sur encours : 0,165 %
Fonds
16/09/2013

Mirabaud France recrute deux gérants privés à Paris

Mirabaud France a annoncé le 13 septembre l’arrivée de Cyril Lejeune et de William Chatin aux postes de gérants privés. Cyril Lejeune exerçait jusqu’alors la fonction de conseiller financier chez Merrill Lynch. William Chatin était banquier privé senior à la Banque de Gestion Privée Indosuez à Paris. Avant de rejoindre Mirabaud France en septembre 2013, Cyril Lejeune, 41 ans, était conseiller financier de grandes familles et entrepreneurs français chez Merrill Lynch depuis avril 2007. Auparavant, Cyril était à Londres chez Morgan Stanley pour travailler au renforcement de la présence de la société en France. Avant d’exercer le métier de banquier privé, il était entrepreneur dans l’internet. Cyril Lejeune est titulaire d’un Bachelor Degree of Arts in Business Administration de l’IFAM et d’un agrément de niveau 3 (derivative trading) délivré par le « the Securities & Investment Institute of London ». Avant d’intégrer l’équipe de Mirabaud France en août 2013, William Chatin, 40 ans, était banquier privé senior chez Banque de Gestion Privée Indosuez, de 2008 à 2013. Il a débuté sa carrière chez L’Oréal en Allemagne en qualité de contrôleur de gestion et a fait ses premières armes dans la gestion privée en 2002, en intégrant AGF Assurfinance en qualité de conseiller en gestion de Patrimoine. Il a poursuivi sa carrière de 2004 à 2008 chez Cyrus Conseil en tant que consultant patrimonial senior.
16/09/2013

Citi administre plus de 500 milliards de dollars en alternatif

Mike Sleightholme, global head of hedge fund services, et Joe Patellaro, global head of private equity services, ont indiqué dans un communiqué commun que Citi a désormais franchi la barre de 500 milliards de dollars d’encours alternatifs, dont 300 milliards pour les hedge funds et 200 milliards pour le private equity, rapporte HedgeWeek.
16/09/2013

BNP Paribas SS boucle la migration des actifs de Nikko AM

BNP Paribas Securities Services a annoncé le 13 septembre avoir finalisé l’intégration de Nikko Asset Management en Asie-Pacifique.BNP Paribas a été choisi en octobre 2011 par Nillo AM pour la prestation de services de midlle et de back office, de conservation et d’administration de fonds dans le cadre de ses activités en Asie, ainsi que pour sa filiale Tyndall Investment Management, basée en Australie et en Nouvelle-Zélande.
16/09/2013

La plate-forme Schroder Gaia dépasse les 2 milliards de dollars d’encours

Les activités gérées sur la plate-forme Ucits alternatifs Schroder GAIA (Global Alternative Investor Access) ont atteint 2,3 milliards de dollars en un peu plus de trois ans et demi, depuis son lancement en novembre 2009, rapporte Bluerating. A ce jour, quatre fonds sont disponibles sur la plate-forme, dont trois gérés par des sociétés de gestion externes (Schroder GAIA CQS Credit, Schroder GAIA Egerton Equity et Schroder GAIA Sirios US Equity) et un géré en interne (Schroder GAIA Global Bond Macro).
16/09/2013
Fonds

Lyxor collecte 225 millions auprès d'institutionnels pour son fonds de dette senior

Lyxor Asset Management annonce avoir enregistré des souscriptions de 225 millions d’euros auprès de grands groupes d’assurance européens pour son nouveau fonds investi en prêts senior garantis. Le fonds «Lyxor European Senior Debt Fund» investira essentiellement dans des prêts garantis senior à taux variables libellés en euros et émis par des sociétés pour financer leurs acquisitions ou leur croissance. Le produit est le résultat de l’intégration d’Egret par Lyxor en début d’année 2013. Lyxor gère un encours de plus de 800 millions d’euros en CLO, fonds et mandats de conseil investis sur la dette.
Fonds
16/09/2013

Credit Suisse perd un co-directeur de la gestion d'actifs

Selon Finews reprenant une information de Bloomberg, Gerhard Fusenig, un des co-directeurs de la gestion d’actifs de Credit Suisse, va quitter l’entreprise. L’homme de 49 ans souhaiterait passer plus de temps avec sa famille, précise le quotidien. L’intéressé compte rester encore quelques semaines à son poste afin de faire la transition. Ses responsabilités seront partagées entre Michael Strobaek, l’autre co-directeur de l’asset management, et Bob Jain, responsable de la gestion alternative.
16/09/2013

Credit Suisse vendrait sa banque privée en Allemagne

Selon Wirtschaftswoche, BNP Paribas et le Santander seraient sur les rangs pour acheter l’activité de banque privée du Credit Suisse en Allemagne que le groupe helvétique aurait mise en vente. Cela représente un réseau de neuf agences et un encours de 4-5 milliards d’euros.Les porte-parole de trois entités citées ont refusé de commenter.
16/09/2013

Un ancien de SEB rejoint Deutsche Bank

Après plus de dix ans passés chez SEB, Tomas Rosengren part chez Deutsche Bank où il rejoindra l’équipe de hedge funds basée à Londres, selon les informations de Realtid.se. Chez SEB, l’intéressé s’occupait des ventes de hedge funds depuis 2006.
16/09/2013

JP Morgan sets aside a further USD4bn for risk management

JPMorgan Chase, which was severely affected last year by the “whale of London” scandal, is planning to set aside USD4bn more, and mobilise a further 5,000 employees to settle questions concerning risk management and regulations, as the bank is subject to multiple investigations, the Wall Street Journal writes, citing sources familiar with the matter. This sum includes USD2.5bn placed in provisions for legal costs in second half, according to the financial newspaper, which also observes that the teams responsible for risk controlling will be increased by 30%. The banking group had announced on Monday that it had mobilized an additional 3,000 employees for controlling functions, and a source close to the situation has told Reuters that 2,000 more employees, who are present in the group’s various activities, will also work on regulatory questions.
16/09/2013

Citi administers over USD500bn in alternative assets

Mike Sleightholme, global head of hedge fund services, and Joe Patellaro, global head of private equity servies, have announced in a joint statement that Citi now has over USD500bn in alternative assets under amdinistration, of which USD300bn are in hedge funds, and USD200bn in private equity, HedgeWeek reports.
16/09/2013

BNP Paribas SS completes migration of assets from Nikko AM

BNP Paribas Securities Services on 13 September announced that it had completed the integration fo Nikko Asset Management in Asia-Pacific. BNP Paribas was selected in October 2011 by Nillo AM to provide middle- and back-office services, and fund custody and administration for its activities in Asia, as well as for its affiliate Tyndall Investment Management, based in Australia and New Zealand.
16/09/2013

Eaton Vance applies for a license to launch ETMFs

The Boston-based Eaton Vance Management, an affiliate of Eaton Vance Corp, has announced that it has submitted an application to the SEC for exemptive relief to allow it to launch exchange-traded managed funds, or ETMF, products which can use an ETF structure for active strategies. ETMFs combine cost and tax-efficiency with protection for shareholders in an ETF, while preserving the confidentiality of trading activities of the portfolio.Eaton Vance (USD268.8bn in assets as of the end of July) is planning to launch a range of ETMFs, which would mirror mutual funds from Eaton Vance. The asset management firm is also planning to issue licenses to other asset management firms via its wholly-owned subsidiary Navigate Fund Solutions LLC.
16/09/2013

CalSTRS seeks to diversify its portfolio

The pension fund for California teachers, CalSTRS, whose assets under management total about USD170bn, has decided on a measured diversification of its portfolio, with a reduction in its allocation to equities and bonds, in favour of inflation-linked assets, according to a statement released on 10 September.The new allocation reduces the most highly represented asset classes, such as international equities, which will be reduced from 53% (current objective) to 51% (new long-term objective), fixed income, which goes from 20%. to 16%. The less liquid asset classes of real estate and private equity both gain 1 percentage point, to 13%.The allocation dedicated to assets which are sensitive to inflation will be increased from 2% to 6%, but this objective of 6% represents a threshold which will be met under all conditions in which the risk of inflation remains very low. CalSTRS will continue to invest in infrastructure and commodities. Hermes Fund Managers is one of the asset management firms retained for commodities.Hermes Fund Managers has been managing commodity mandates since 2005 for its institutional clients, the firm’s website says.
16/09/2013

Mirabaud France recruits two private managers in Paris

Mirabaud France on 13 September announced the arrival of Cyril Lejeune and William Chatin as private managers. Lejeune had previously served as a financial adviser at Merrill Lynch. Chatin had been a private banker at the Banque de Gestion Privée Indosuez in Paris. Before joining Mirabaud France in September 2013, Lejeune, 41, had been a financial advisor for key families and French entrepreneurs at Merrill Lynch since April 2007. Lejeune had previously been in London at Morgan Stanley, to work to reinforce the presence of the firm in France. Before serving as a private banker, he had been an internet entrepreneur. Lejeuna holds a Bachelor of Arta in Business Administration from IFAM, and a level 3 (derivative trading) license from the Securities & Investment Institute of London. Before joining the team at Mirabaud France in August 2013, Chatin, 40, had been a senior private banker at the Banque de Gestion Privée Indosuez from 2008 to 2013. He began his career at l’Oréal in Germany as management controller, and took his first steps into private management in 2002, when he joined AGF Assurfinance as a wealth management adviser. He continued his career from 2004 to 2008 at Cyrus Conseil as a senior wealth adviser.
16/09/2013

Amundi willing to consider acquisitions in ETFs

Amundi is willing to consider acquisition oppportunities in order to become one of the three providers of ETFs in Europe, Financial Times fund management reports. Rumours have recently suggested that the group was interested in Lyxor. “We would strongly consider participating in any consolidation process within Europe’s ETF industry,” says Valérie Baudson, managing director of ETF activities and indexing operations at Amundi (USD50bn). “Scale is important in the ETF industry. … We aim to grow even larger,” she adds.
16/09/2013

Assets at Trian Partners top USD7bn

Nelson Peltz’s activist hedge fund Trian Partners has topped USD7bn in assets under management, Institutional Investor Alpha reports. These assets were up 11% from their level at the beginning of July (USD6.3bn). A large part of the increase in assets is reported to be the result of good returns. Funds gained 25% in the first eight months of the year.
16/09/2013

Invesco, Franklin, Legg and AllianceBernstein return to asset losses in August

The four US firms Invesco, Franklin Templeton, Legg Mason and AllianceBernstein along have posted a decline in assets as of 31 August of USD48.4bn for the month, where in July they had posted an increase in assets under management of USD63.8bn.In detail, Invesco has seen a decline in its asets of USD9.7bn, after an increase of USD23.8bn the previous month, while Franklin has lost USD16.8bn of the USD19.1bn in increases it posted in July. AllianceBernstein as posted a decline in assets of USD8bn, after an increase of USD9bn the previous month, while Legg Mason has lost exactly the same amount it gained in July, USD11.9bn.
16/09/2013

Institutional demand boosts German asset management firms

In the first seven months of the year, net subscriptions to asset management firms affiliated with the German BVI association of asset management firms totalled EUR58.99bn, compared with EUR14.66bn in January-July 2012. This time once again, institutional demand dominated, with a net inflow of EUR42.1bn, comapred with EUR36.72bn for the corresponding period of last year, while net inflows from open-ended funds had doubled to EUR16.02bn from EUR8bn. Mandates excluding funds produced EUR872.1m, compared with EUR70.5m in net redemptions in January-July last year.The BVI also reports that between the end of 2005 and the end of June 2013, the market share for the top four managers of open-ended securities funds (DeAWM, Deka, Union and Allianz Global Investors) had fallen, from 74% to 68%, while the market share for the top four actors in institutional management (Allianz AM, Deka, Union and DeAWM) had increased, from 38% to 53%.For open-ended securities funds in July, Allianz, shows net inflows of EUR4.75bn, and DWS has posted inflows of EUR3.02bn, while Union shows net outflows of EUR2.12bn, and Deka has seen net redemptions of EuR1.39bn.
16/09/2013

China opens up to hedge funds

Chinese regulators have awarded a quota of USD300m to a total of six alternative asset management firms as part of its Qualified Domestic Limited Partner (QDLP) programme, which is expected to have a total volume of USD5bn, the news agency Reuters reports, citing information in the 21st Century Business Herald. The six companies concerned are Man Group, Winton Capital Management, Oak Tree, Citadel, Och-Ziff Capital Management and Canyon Partners. Each firm has received a quota of USD50m.
16/09/2013

Credit Suisse loses co-head of asset management

According to Finews, relaying reports in Bloomberg, Gerhard Fusenig, one of the co-heads of asset management at Credit Suisse, will be leaving the business. The 49-year-old businessman would like to spend more time with his family, the newspaper says. Fusenig plans to remain in his position for a few more weeks in order to ensure a smooth transition. His responsibilities will be distributed between Michael Strobaek, the other co-head of asset management, and Bob Jain, head of alternative management.
16/09/2013

Eurekahedge HF index down 0.32% in August

The Eurekahedge hedge fund index has finished the month of August with a decline of 0.32%, at a time when the MSCI world index has seen a fall of 2.26%, according to Hedgeweek. The various strategies have shown mixed trajectories. Event-driven strategies have earned returns of 0.95%, which have allowed them to post gains of 5.70% since the beginning of the year. However, macro and CTA strategies have seen losses of 0.85% and 0.79%, respectively.
16/09/2013

Hedge funds turn to psychological software to boost returns

Were you alone in a small office after breakfast, or in an open space with a hangover when you made this brilliant trade? These questions are being asked by some major hedge funds, which are turning to psychology to plumb the souls of the best managers and boost performance and profits, the Financial Times reports. Man Group is one companies which adopted a software program very early on which seeks to create the perfect environment to help fund managers work at their best. The software package, designed by Clare Flynn Levy, a star fund manager at Morgan Grenfell, allows manages to save various information, ranging from the time at which a transaction was made to the mood of the person. The technology, which will be launched this week, was designed by Essentia Analytics.
16/09/2013

UCITS funds post inflows of EUR36bn in July

UCITS registered a turnaround in net flows in July to record net inflows of EUR 36 billion compared to net outflows of EUR 65 billion in June, according to the European Fund and Asset Management Association (EFAMA). This positive result can be attributed to all fund categories recording net inflows in July.Long-term UCITS (UCITS excluding money market funds) registered net inflows of EUR 35 billion, up from net outflows of EUR 25 billion in June. Net sales of bond funds returned to positive territory registering net inflows of EUR 6 billion, compared to net outflows of EUR 18 billion in June. Net sales of equity funds totalled EUR 14 billion, compared to net outflows of EUR 9 billion in June. Net sales of balanced funds increased to EUR 9 billion in July from break-even point a month earlier. Money market funds registered net inflows in July of EUR 1 billion, representing a significant reversal in flows after recording net outflows of EUR 40 billion in June. Total net assets of UCITS stood at EUR 6,666 billion at end July 2013, representing a 1.6 percent increase during the month. Total net assets of non-UCITS also increased in July by 1.3 percent to stand at EUR 2,675 billion at month end.
16/09/2013

Lyxor collects EUR225m from institutionals for senior guaranteed loans fund

Lyxor Asset Management has announced that it has posted subscriptions of EUR225m from major European insurance groups for its new fund to invet in senior guranteed loans. The Lyxor European Senior Debt Fund will invest primarily in senior guaranteed loans at variable rates denominated in euros, issued by businesses to finance their acquisitions or growth. The product is the result of the absorption of Egret by Lyxor earlier in 2013. Lyxor has assets under management of over EUR800m in CLOs, funds and mandates invested in debt.
16/09/2013

Inflows to equity funds on the rise

With fears of an imminent US strike on Syria receding and positive GDP numbers coming in from all corners of the globe, flows into equity funds rebounded during the second week of September to their highest level since mid-July.Equity funds collectively absorbed USD14.38 billion during the week ending September 11, according to statistics released by EPFR Global. Europe equity funds posted their second biggest inflow year-to-date.Bond Funds recorded net redemptions of USD3.54 billion, while money market funds took in USD7.5 billion.
16/09/2013

Six foreign hedge fund companies authorised to raise money in China

Six hedge fud companies will be granted the first licenses ever to raise mone from institutions in China for investment abroad, the Financial Times report. The Chinese government has awarded a global quota of USD300m, which will be divided evenly between Canyon Partners, Citadel, Man Group, Oaktree, Och-Ziff and Winton Capital. Each one will be allowed to raise up to USD50m, according to sources close to the programme.

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