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16/07/2013

Banque : chute des bonus pour les très gros salaires

La moyenne des bonus des banquiers britanniques gagnant plus d’un million d’euros sont en chute libre, signale le Financial Times, qui cite des données de l’Autorité bancaire européenne. En 2011, ces banquiers ont reçu des bonus représentant en moyenne 3,5 fois leur salaire annuel, contre 6,1 fois l’année précédente. Au Royaume-Uni, 2.436 personnes travaillant dans la banque gagnent plus d’un million d’euros par an.
16/07/2013

Baisse de l'encours de Charlemagne Capital

«L’interim management statement» publié par le britannique Charlemagne Capital Limited fait ressortir qu’au 30 juin l’encours se situait à moins de 2,42 milliards de dollars contre 2,63 milliards au 1er janvier.Néanmoins, en net, les recettes de commissions de gestion se sont accrues pour le premier semestre à 11,9 millions de livres contre 10,8 milliards en juillet-décembre 2012 et 9,7 millions pour la période correspondante de l’an dernier, ce qui tient d’ au fait que l’encours moyen durant la période sous revue a été de 2,6 milliards de dollars contre 2,4 milliards en janvier-juin 2012. en revanche, les recettes de commissions de performance ont diminué à 0,5 million de dollars contre 0,9 million pour la période correspondante de l’an dernier.Charlemagne n’a enregistré de souscriptions nettes (de 86 millions de dollars) au premier semestre 2013 que sur sa gamme de fonds Magna, qui a atteint 420 millions de dollars d’encours à fin juin, malgré un effet de performance négatif de 30 millions de dollars.Les sorties nettes sur la gamme OCCO ont été de 36 millions et celles sur l’institutionnel de 113 millions.Bien que le groupe soit demeuré bénéficiaire globalement depuis le début de l’année, Charlemagne reconnaît qu’il lui faut augmenter ses encours pour générer des bénéfices récurrents sur la base de commissions de gestion. Le gestionnaire britannique annonce son intention de réduire sa base de coûts tout en préservant les infrastructures nécessaires pour continuer à fournir un service de qualité aux investisseurs et à gérer le développement ultérieur de l’activité.
16/07/2013

Lyxor mise sur le Royaume-Uni pour le développement de son pôle ETF

Arnaud Llinas, global head of ETF & indexing depuis décembre, a indiqué que Lyxor Asset Management considère le Royaume-Uni comme un marché clé pour relancer la croissance de son pôle ETF. Le groupe français a d’ailleurs recruté depuis le début de l’année Chanchal Samadder chez iShares comme directeur des ventes institutionnelles d’ETF pour le Royaume-Uni et l’Irlande, rapporte le Financial Times FM.De plus, Arnaud Llinas a annoncé qu’il compte renforcer encore l'équipe commerciale au Royaume-Uni parce qu’il s’attend à une hausse de la demande d’ETF tant de la part des investisseurs institutionnels que de la clientèle retail.
16/07/2013

Vontobel et Helvetia reconduisent leur accord de coopération

Axel Schwarzer, CEO du pôle gestion d’actifs de Vontobel (Vontobel Asset Management, 150 milliards de francs suisses d’encours à fin décembre 2012), et Ralph Honegger CIO du groupe Helvetia, ont annoncé le 15 juillet que l’accord de coopération unissant leurs deux maisons vient d'être prorogé de cinq ans, à 2018.Cela permettra aux clients d’Helvetia de continuer à bénéficier des compétences de Vontobel AM en matière de placements pour les produits d’assurance et de retraite.
16/07/2013
Fonds

Hof Hoorneman lance trois fonds sur Euronext

Le néerlandais Hof Hoorneman a fait admettre à la négociation le 15 juillet trois nouveaux fonds sur NYSE Euronext Amsterdam, ce qui porte le nombre total de produits ouverts sur Euronext Fund Services (EFS) à 204 unités.Les nouveaux produits sont les suivants :HH EM Fund (code Isin : NL0010514196)HH Obligatie Fund (NL0010514204) etHH RE Value Fund (NL0010514212)
Fonds
16/07/2013

Twelve Capital recrute Markus Stricher

Spécialiste de la gestion du risque chez Swiss Re et Aon ReSolution, Markus Stricher a rejoint Twelve Capital comme associé responsable de la gestion des risques. Il sera notamment chargé de poursuivre le développement des outils exclusifs de Twelve Capital en matière d’analyse. Markus Stricher a aussi été professeur à l’ETH de Zurich et l’ Université de Chicago. Lorsqu’il enseignait à la Georgie State University, il a créé un centre de recherche appliquée au sein du Willis Economic Capital Forum.Le zurichois Twelve Capital, dont la majorité des parts appartient à l'équipe d’investissement, est un gestionnaire de fortune indépendant spécialiste des investissements dans le secteur de l’assurance.
16/07/2013
Fonds

Nuveen lance une rafale de neuf fonds "powered by Bob Doll"

Bob Doll, chief equity strategist et gérant de portefeuilles senior de Nuveen Asset Management depuis le 26 novembre après plusieurs années comme directeur gérant exécutif et stratégiste en chef de BlackRock, a parrainé le lancement de neuf fonds actions de Nuveen, trois traditionnels, trois «de spécialités» et trois alternatifs. Sur le total, six de ces produits sont de création nouvelle et trois ont été transférés à Bob Doll. Ce dernier met en œuvre une stratégie équilibrée entre l’analyse fondamentale et gestion quantitative, avec l’aide de 17 analystes fondamentaux et de trois analystes quantitatifs.Les nouveaux fonds sont les suivants :TraditionnelNuveen Large Cap Value Fund (NNGAX)Nuveen Large Cap Core Fund (NLACX)Nuveen Large Cap GrowthFund(NLAGX)SpécialitésNuveen Core Dividend Fund (NCDAX)Nuveen Concentrated Core Fund (NCADX)Nuveen Growth Fund (NSAGX)AlternatifNuveen Large Cap Core Plus Fund (NLAPX)Nuveen Equity/Long Short Fund (NELAX)Nuveen Equity Market Neutral Fund (NMAEX)
Fonds
16/07/2013

Omnes Capital investit dans le groupe Eratome

La société de private equity Omnes Capital (ex Crédit Agricole Private Equity) a annoncé avoir investi 15 millions d’euros dans le groupe Eratome, spécialisé dans la rénovation de logements sociaux à l’occasion d’un premier LBO majoritaire, aux côtés du président directeur général, Jean-Michel Nucera, de responsables de la société et du FSI Régions - bpifrance, indique un communiqué publié hier. L’objectif de l’opération est de renforcer la structure du groupe et de contribuer à financer sa stratégie de développement fondée sur des opérations de croissances externes. Le groupe Eratome prévoit de réaliser un chiffre d’affaires supérieur à 30 millions d’euros en 2013. Il emploie plus d’une centaine de salariés et a effectué en 2012 plus de 32 000 interventions sur sites.
16/07/2013
Fonds

La mise initiale change pour CamGestion Micro Cap

CamGestion a averti sur son site hier les porteurs de parts du fonds CamGestion Micro Cap qu'à compter du 29 juillet 2013, le montant minimum de souscription initiale sera de 1 part et non pas de 500 000 euros ou équivalent en nombre de parts.
Fonds
16/07/2013

Allianz Popular devient le 5ème gestionnaire de fonds de pension

Pour 50 millions d’euros, le Banco Popular a vendu le pôle de gestion de fonds de Pastor Vida à Allianz Popular. Cela permet à ce dernier de gagner deux places et de devenir le cinquième plus gros gestionnaire de fonds de pension en Espagne, rapporte Funds People.Allianz Popular gérait déjà 4.355 millions d’euros dans ce domaine. Avec les 570 millions d’euros de Pastor Vida, Allianz Popular affiche un encours total de 4.915 millions d’euros à fin mars, ce qui lui permet de dépasser Mapfre (4.897 millions) et de se classer juste derrière Aviva (5.324 millions).Les poids lourds du secteur sont le BBVA (17.182 millions d’euros), VidaCaixa (14.900 millions) et le Santander (8.750 millions).
16/07/2013

Forte hausse du bénéfice de la gestion d’actifs et de fortune pour SEB

Pour le premier semestre 2013, la division wealth management de SEB a gonflé de 40 % en glissement annuel à 859 millions de couronnes contre 613 millions en janvier-juin 2012, dont 468 millions au deuxième trimestre et 391 millions au premier. L’amélioration est surtout attribuable à une hausse des recettes de commissions de performance sur les mandats discrétionnaires, à 120 millions de couronnes contre 57 millions. Les charges d’exploitation ont par ailleurs baissé de 8 %.Les fonds gérés ou non par SEB ont enregistré des souscriptions nettes de 8 milliards de couronnes et l’encours total de la division est ressorti fin juin à 1.302 millions de couronnes, ce qui représente une augmentation de 6 % par rapport à la fin de 2012.Le bénéfice net du groupe SEB pour les six premiers mois de l’année est ressorti à 6,8 milliards de couronnes contre 5,6 milliards, dont 3,8 milliards contre 3 milliards pour le deuxième trimestre.
16/07/2013

Hof Hoorneman launches three funds on Euronext

P { margin-bottom: 0.08in; } The Netherlands-based Hof Hoorneman on 15 July listed three new funds on NYSE Euronext Amsterdam, bringing the total number of products on sale on Euronext Fund Services (EFS) to 204.The new products are as follows:HH EM Fund (ISIN code: NL0010514196)HH Obligatie Fund (NL0010514204) andHH RE Value Fund (NL0010514212)
16/07/2013

UFF launches UFF Innovation no. 16

P { margin-bottom: 0.08in; } UFF has announced the launch of its 16th innovation common investment fund (FCPI). The fund, which is managed by Truffle Capital, will participate in the financing of development at innovative businesses in the healthcare, IT and energy sectors, a statement says.The objective for the fund is to invest 75% of assets in innovative companies, typically private businesses in sectors such as IT, energy and life sciences. UFF Innovation no. 16 will also invest in a diversified manner in three sectors with a focus on businesses which develop breakthrough technologies, and a preference for the creation of businesses or spinoffs.Characteristics:Manager: Truffle CapitalExclusive distributor: Union Financière de FranceRecommended investment duration: 7 years, until maturity on 30 September 2020 (may be extended three times for one year each)A share class: EUR1000Subscription commission: 4%Withdrawal penalty: 4%Management commission, including all taxes: 3.76%Subscription period: July 2013 to February 2014
16/07/2013

Nuveen launches volley of nine funds “powered by Bob Doll”

P { margin-bottom: 0.08in; } Bob Doll, chief equity strategist and senior portfolio manager at Nuveen Asset Management since 26 November, after several years as executive managing director an chief strategist at BlackRock, has overseen the launch of nine Nuveen equity funds, three of them traditional funds, three “specialty” funds and three hedge funds. Of this total, six of them are newly-created products, and three were transferred to Doll.Doll will use a balanced strategy combining fundamental analysis and quantitative management, with the assistance of 17 fundamental analysts and three quantitative analysts.The new funds are as follows:TraditionalNuveen Large Cap Value Fund (acronym: NNGAX)Nuveen Large Cap Core Fund (NLACX)Nuveen Large Cap GrowthFund(NLAGX)SpecialtyNuveen Core Dividend Fund (NCDAX)Nuveen Concentrated Core Fund (NCADX)Nuveen Growth Fund (NSAGX)AlternativeNuveen Large Cap Core Plus Fund (NLAPX)Nuveen Equity/Long Short Fund (NELAX)Nuveen Equity Market Neutral Fund (NMAEX)
16/07/2013

Bernheim, Dreyfus & Co. launches a predominantly bond diversified fund

P { margin-bottom: 0.08in; } Bernheim, Dreyfus & Co. has launched Carmel Global Opportunities, an asset allocation fund containing primarily bonds investing in various asset classes in OECD countries.Carmel Global Opportunities uses prudent allocation of capital based on a bond “core” and a “satellite” to expose the fund to more dynamic asset classes, a statement says. The objective for the fund is to offer investors regular long-term capital appreciation through diversification of investment strategies. The management process is based on fundamental analysis combining a top-down approach based on analysis of macro-economic cycles, and a bottom-up approach based on detailed financial analysis and valuation of businesses.At launch, the mutual fund has seed capital of about EUR50m (of which EUR20m are invested). The maangement team is projecting assets of EUR200m within 18 months.ISIN code: FR0011452887UCITS IV fund
16/07/2013

360 AM launches a flexible fund eligible for PEA

P { margin-bottom: 0.08in; } 360 Asset Managers at the end of May initiated a partnership with Financière Roche Noire, a flexible wealth heritage fund eligible for investment from PEA policies. All assets on which it is based are eligible for the tax benefit (“PEAble” money market funds, trackers which reproduct the behaviour of the Japanese equity market, etc.) Assets in the fund total EUR850,000. Characteristics: ISIN code: FR0011452929 Front-end fee: maximum 4% all taxes included (0% paid into the fund) Withdrawal penalty: None Management fee: maximum 2.2% including all taxes Performance commission: 20% including all taxes of positive performance exceeding the benchmark index Nominal value per share: EUR100 Valuation: Daily Eligible for investment from life insurance policies
16/07/2013

Fitch downgrades EFSF

P { margin-bottom: 0.08in; } “Largely due to the downgrade in the sovereign credit rating of France” late last week, the ratings agency Fitch Ratings on Monday downgraded the European Financial Stability Facility from AAA previously to AA+.
16/07/2013

Allianz Popular becomes the 5th-largest pension fund management firm

P { margin-bottom: 0.08in; } For EUR50m, Banco Popular has sold the fund management unit of Pastor Vida to Allianz Popular. This allows the latter to gain two places, to become the fifth-largest pension fund management firm in Spain, Funds People reports.Allianz Popular already had EUR4.355bn in this area. With EUR570m at Pastor Vida, Allianz Popular has total assets of EUR4.915bn as of the end of March, which puts it ahead of Mapfre (EUR4.897bn) and just behind Aviva (EUR5.324bn).The heavyweights in the sector are BBVA (EUR17.182bn), VidaCaixa (EUR14.9bn) and Santander (EUR8.750bn).
16/07/2013

Starbucks removed from Natur-Aktien-Index

P { margin-bottom: 0.08in; } The committee of the German Natur-Aktien-Index (NAI) has decided to exclude the Starbucks coffee chain from the composition of the index, because the firm uses tricks to avoid taxes, which runs against the principles of management in line with sustainable development, says Horst Hamm, chairman of the committee. The NAI admits, however, that Starbucks remains highly engaged in the promotion of ecological coffee.Starbucks is replaced on the NAI with the coffee wholesales Green Mountain Coffee, which is involved in the area of biological coffee and fair trade. Green Mountain, which employs 5,000 people, had USD3.8bn in turnover last year. Its market share in the fair trade and biological coffee market in the United States is about 10%.The NAI committee has also announced that the British firm Kingfisher has been admitted to the index, since the home improvement group stands out for its low-cost and energy-efficient solutions. Kingfisher replaces the Austrian water distributor BWT, which has been acquired by another firm.
16/07/2013

Cayman Islands sign MoUs with 25 ESMA countries

P { margin-bottom: 0.08in; } The Cayman Islands Monetary Authority (CIMA) has announced that it has signed memoranda of understanding (MoUs) with 25 European countries in the area of competence with the European securities markets authority (ESMA) to allow hedge funds registered in the Cayman Islands to be sold throughout the European Union. The agreements are related to the introduction of the alternative investment management directive (AIFMD) on 22 July 2013. Five European countries have not yet signed the agreements: Austria, Germany, Italy, Slovenia and Spain. The signatories, so far, are as follows, according to the CIMA:Autoriteit Financiële Markten (The Netherlands); Autorité des marchés financiers (France); Financial Services and Markets Authority (Belgium); Central Bank of Ireland (Ireland); Comissão do Mercado de Valores Mobiliários (Portugal); Financial Supervisory Authority (Romania); Commission de Surveillance du Secteur Financier (Luxembourg); Cyprus Securities and Exchange Commission (Cyprus); Czech National Bank (Czech Republic); Finansinspektionen (Sweden); Finanssivalvonta (Finland); Finanstilsynet (Denmark); Finanšu un kapitāla tirgus komisija (Latvia); Estonian Financial Supervision Authority (Estonia); Polish Financial Supervision Authority (Poland); Financial Conduct Authority (United Kingdom); Financial Supervision Commission (Bulgaria); Hellenic Capital Market Commission (Greece); Bank of Lithuania (Lithuania); Malta Financial Services Authority (Malta); Národná banka Slovenska (Slovak Republic); Pénzügyi Szervezetek Állami Felügyelete (Hungary); Fjármálaeftirlitið (Iceland); Finanstilsynet (Norway) andFinanzmarktaufsicht (Liechtenstein).
16/07/2013

Assets down at Charlemagne Capital

P { margin-bottom: 0.08in; } An “interim management statement” released by the British firm Charlemagne Capital Limited reveals that as of 30 June, assets totalled less than USD2.42bn, compared with USD2.63bn as of 1 January.However, net income from management commissions increased in first half to GBP11.9m, compared with GBP10.8m in July-December 2012, and GBP9.7m in the corresponding period of last year, due to the fact that average assets in the period under reveiew with USD2.6bn, compared with USD2.4bn in January-June 2012. But income on performance commissions fell to USD0.5m, compared with USD0.9m in the corresponding period of last year.Charlemagne posted net subscriptions in first half 2013 only for the Magna fund range, which had USD420m in assets as of the end of June, despite negative performance effects of USD30m. Net outflows from the OCCO product range totalled USD36m, while institutional outflows totalled USD113m.Although the group has remained profitable overall since the beginning of the year, Charlemagne admits that it needs to increase its assets in order to generate recurrent profits on the basis of management commissions. The British asset management firm has announced plans to cut back its cost base, but will look at retaining the infrastrucure necessary to continue to provide quality service to investors and to manage subsequent growth of activities.
16/07/2013

Banking: bonuses fall for biggest earners

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: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } The average bonus for British bankers who make over EUR1m is in free-fall, the Financial Times reports, citing statistics from the European banking authority. In 2011, these bankers received bonuses representing an average of 3.5 times their annual salary, compared with 6.1 times the previous year. In the United Kingdom, 2,436 people employed in banking make more than EUR1m per year.
16/07/2013

Lyxor looks to United Kingdom for growth to its ETF unit

P { margin-bottom: 0.08in; } Arnaud Llinas, global head of ETF & indexing since December, has announced that Lyxor Asset Management considers the United Kingdom a key market to bring new growth to its ETF unit. The French group has since the beginning of the year recruited Chanchal Samadder from iShares as director of institutional ETF sales for the United Kingdom and Ireland, Financial Times FM reports.Llinas has announced that he plans to make further additions to the United Kingdom sales team, as he expects an increase in demand for ETFs both from institutional investors and retail clients.
16/07/2013

Coba sells UK real estate credit portfolio

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: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } Germany-based Commerzbank (Coba) has announced that it has sold its EUR5bn professional real estate portfolio at a markdown of only 3.5% to a consortium led by Wells Fargo and Lone Star. The transaction includes all commercial real estate financing activities of Hypothekenbank Frankfurt in the United Kingdom, and employees will join Wells Fargo.
16/07/2013

Man Group teams up with Nomura for UCITS-compliant bond fund

P { margin-bottom: 0.08in; } The quantitative management unit at Man Group, Man Systematic Strategies (MSS), which was merged this year with AHL, will with Nomura Alternative Investment Management manage the Nomura Man Systematic Fixed Income UCITS Fund, whose objective is to capture directional opportunities on 50 emerging and developed markets for swaps, futures and urrencies, using about 300 trading signals, HedgeWeek reports.The fund is co-managed by André Rzym and Stefan Sluke, who worked on AHL managed futures funds.
16/07/2013

HSBC GAM preparing range of index-based funds

P { margin-bottom: 0.08in; } UK-based HSBC Global Asset Management is planning to sell tracker funds in fourth quarter replicating the new low-volatility Economic Scale Indices (ESI), which weight issuers according to their added value, Investment Week reports. The top three funds will replicate global, US and Japanese ESIs.
16/07/2013

Libor scandal: two indictments

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: «WenQuanYi Micro Hei"; font-size: 12pt; }P.ctl { font-family: «Lohit Hindi"; font-size: 12pt; } The UK Serious Fraud Office (SFO) has announced that two former brokers at RP Martin Holdings, Terry Farr and James Gilmour, have been accused od conspiracy to defraud as part of an investigation into manipulation of Libor, the Wall Street Journal reports. The two men were arrested in December, at the same time as Tom Hayes, a former trader at UBS and Citigroup.
16/07/2013

Strong increase in asset and wealth management profits at SEB

P { margin-bottom: 0.08in; } In first half 2013, the wealth management division of SEB gained 40% year on year, to SEK859m, compared with SEK613m in January-June 2012, of which SEK468m were in second quarter, and EUR391m in first quarter. The improvement is primarily due to an increase in performance commission revenues from discretionary mandates, to SEK120m from SEK57m. Operating costs were also reduced by 8%.Both SEB managed and non-SEB managed funds posted net subscriptions of SEK8bn, and total assets in the division came to SEK1.302bn as of the end of June, which represents an increase of 6% compared with the end of 2012.Net profits at the SEB group for the first six months of the year totalled SEK6.8bn, compared with SEK5.6bn, of which SEK3.8bn, compared with SEK3bn, were in second quarter.
16/07/2013

Twelve Capital recuits Markus Stricher

P { margin-bottom: 0.08in; } Markus Stricher, a specialist in risk management at Swiss Re and Aon ReSolution, has joined Twelve Capital as a partner responsible for risk management. He will be responsible for the developmen tof exclusive analytical tools at Twelve Capital. Stricher was also a professor at ETH in Zurich and at the University of Chicago. When he taught at Georgia State University, he created an applied research centre at the Willis Economic Capital Forum.The Zurich-based Twelve Capital, a majority of whose capital belongs to the investment team, is an independent wealth management firm specialised in investment in the insurance sector.
16/07/2013

Vontobel and Helvetia renew their co-operation agreement

P { margin-bottom: 0.08in; } Axel Schwarzer, CEO of the asset management unit of Vontobel (Vontobel Asset Management, CHF150bn in assets as of the end of December 2012), and Ralph Honegger, CIO of the Helvetia group, on 15 July announced that an agreement to combine the two asset management firms has been renewed for five years, until 2018.That will allow the 0.75m Helvetia clients to continue to benefit from the expertise of Vontobel AM in investments for insurance and retirement products.

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