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24/06/2013

Versiko offers SRI retirement savings

P { margin-bottom: 0.08in; } The German sustainable investment advising firm versiko has announced the launch of a unit-linked retirement savings plan, ökoViola, whose portfolio will be invested exclusively in shares in the ökovision Classic fund, launched by the firm’s Luxembourg affiliate ökoworld, while the insurance portion of the policy is contracted to Continentale.versiko says that the formula allows subscribers to be sure that their savings will be invested ethically, with the exclusion of weapons, nuclear technology, chlorine chemistry, and child labour.As of 31 May, the ökovision Classic fund had assets of EUR361.8m for C shares (LU0061928585) and EUR15.8m for A shares (LU0551476806).
24/06/2013

Outflows from emerging markets, inflows to frontier markets

P { margin-bottom: 0.08in; } Ahead of a meeting of the Federal Reserve, investors do not appear worried. They bought fewer bonds and invested more in US, Japanese and European equity funds. However, their defiance with respect to emerging market funds remains tenacious, and outflows totalled more than USD3bn in the week to 19 June, a level not seen for nearly two years, according to statistics released by EPFR Global.Despite their circumspection with respect to most of the major emerging markets, such as China Brazil, Russia and South Africa, investors retain a marked appetite for smaller markets, which are riskier but also more dynamic. Funds dedicated to frontier markets have been posting inflows since mid-March and have also attracted more than USD2.5bn since the beginning of this year.Overall, equity funds have posted a net inflow of USD4.81bn in the week to 19 June, while bond funds have seen redemptions totalling USD7.48bn. Money market fund have seen outflows of over USD25bn in the week to 19 June, the highest level since the third week of February.
24/06/2013

Konrad Hummler gets back to business

P { margin-bottom: 0.08in; } The former heavyweight in private banking at Wegelin, Konrad Hummler, is returning to the industry. Hummler, whose investment columns were always highly popular, has founded the M1 AG company, domiciled in St. Gall, which offers investment advisory services.Hummler, with three partners, is launching a paper or electronic publication, “Bergsicht,” which will be released at least six times per year, and which will resemble the investment columns of the Wegelin period.
24/06/2013

Former UBS manager launches an asset management firm

P { margin-bottom: 0.08in; } According to Finews, Cesar Gueikian, former head of special situations at UBS, has founded an asset management firm entitled Melody Capital Partners. His partners are Andres Scaminaci and Omar Jaffrey, also formerly of UBS. The three specialists are launching a fund to invest in guaranteed credit in the United States and Western Europe. They are hoping to raise more than EUR500m.
24/06/2013

Dalton Strategic Partnership arrives in Spain

P { margin-bottom: 0.08in; } Although it had already been selling its products as private investments in Spain, the British asset management firm Balton Strategic Partnership has now officially entered the Spanish market, with the registration of its Luxembourg Sicav, Melchior Selected Trust, with the CNMV. The Sicav has five sub-funds and assets of EUR540m, Funds People reports.The firm becomes the sixth foreign asset management firm to enter Spain since the beginning of the year, following J. Chahine Capital, Ellipsis AM, Oaks Field Patenrs, LarrainVial and Wellington Management.
24/06/2013

Russian PE investor RDIF and Mubadala launch co-investment fund

P { margin-bottom: 0.08in; } Russian Direct Investment Fund (RDIF), the private equity fund supported by the Russian government, and the Abu Dhabi sovereign wealth fund, Mubadala Development Company, have announced the launch of a co-investment fund with USD2bn in assets, in order to seek out investment opportunities on the Russian market. The two funds will contribute USD1bn each to the new fund. The new initiative by Mubadala comes as part of a desire on the part of the firm to establish a sustained presence on major international markets.
24/06/2013

Petercam replaces data provider for an SRI fund

P { margin-bottom: 0.08in; } For its European equity SRI fund Equities Europe Sustainable (about EUR50m in assets), the Belgian asset management firm Petercam will now be using gross data from Sustainalytics instead of Vigeo. They will all be processed internally by the SRI committee, which establishes the list of eligible equities sent to the fund manager, Didier van de Veire.This resulted in 10 changes out of 60 positions, as the universe which Sustainalytics covers is larger in the direction of midcaps, which better meet the performance aims of the manager.Petercam is satisfied with the reactivity and pragmatism of its provider, and has not ruled out extending its use of data to other equity or bond products.
24/06/2013

Hermes Real Estate appoints head of RE debt

Hermes Real Estate Investment Management Limited (HREIML), with over GBP5.8 billion assets under management, has announced the appointment of Marcus Palmer as head of real estate debt. Based at the company’s headquarters in London, he will report into Ben Sanderson, Director of International Investment, HREIML. He will be responsible for managing the real estate debt programme. Prior to joining HREIML, Marcus was a Partner at Chalkhill Partners LLP.
24/06/2013

Polar Capital increases investment in healthcare

P { margin-bottom: 0.08in; } The British firm Polar Capital has recruited two investment professionals, Deane Donnigan and David Pinniger, who will serve in the healthcare unit at the asset management firm, Fundweb reports.Donnigan previously worked at Axa Framlington, while Pinniger has for more than 12 years worked in the healthcare sector.Polar Capital offers two healthcare strategies: the Polar Capital Healthcare Opportunities fund (GBP478.4m), and the Polar Capital Global Healthcare Growth and Income trust (GBP152.6m).
24/06/2013

Investors have bought up GBP2.3bn in equities in the past six months

P { margin-bottom: 0.08in; } Private investors continued to buy equities in the six months to the end of May, according to statistics released by Capita Registrars in its Private Investor Watch.Investors in the United Kingdom added GBP2.3bn to their portfolios, bringing their total assets to GBP222.2bn, the equivalent in value of 11% of the British equity market.Since the beginning of the rising market cycle in 2009, investors have added GBP6.1bn to their equity assets, of which BP3.6bn have been in the past 12 months.Between December 2012 and May 2013 investors traded about GBP45bn in equities, the most active period in the past two years.However, investors did not anticipate the fall on the market which began in June, and therefore did not take profits. They even continued to invest until the end of May. As of 18 June, they had lost GBP11.5bn, and their assets were down to GBP210.7bn.
24/06/2013

Yuan: UK signs swap deal with China

P { margin-bottom: 0.08in; } In the competition amongst European financial centres to become the preferred offshore platform for the Chinese yuan in Europe, the British capital scored a point this weekend, Les Echos reports. The governor of the Bank of England (BoE), Mervyn King, has signed a currency exchange, or swap, agreement with a Chinese counterpart, Zhou Xiaochuan, which will allow the London market to have liquidity in yuan under all circumstances.The agreement covers an amount of up to CNY200bn (or RMB200bn), for the BoE, or up to GBP20bn for the People’s Bank of China (PBOC). In other words, slightly over USD30bn which can be mobilised on the market on both sides in order to meet the needs of businesses. Beijing has already signed numerous swap agreements, but so far only with emerging markets. This is the first time that a member of the group of seven most industrialized nations has achieved such a relationship with China.
24/06/2013

Deutsche Börse offers a Dax fund without the financial sector

P { margin-bottom: 0.08in; } For institutionals, Deutsche Börse has designed the new Dax ex-Financials 30 index, which includes equities listed on the prime standard segment of the Frankfurt stock exchange in the 30 largest German companies outside the “FIRE” sector, which includes banks, providers of financial services and insurance.These shares represent about 80% of the total capitalisation in German pubicly-traded businesses. The Dax ex-Financials 30 index currently includes shares in 25 companies of the Dax and MDax indices.The composition of the new index will be updated on a quarterly basis, and data are available with backtesting to 20 March 2003. The weighting of each share is limited to 10%.
24/06/2013

Skagen manager departs

Ross Porter left the Nordic asset management firm Skagen on 21 June after 13 years “to seek new challenges,» according to a press release. Since joining Skagen in September 2000, Ross has been involved in the management of both the equity and fixed income funds. Since August 2011, Ross has been part of the emerging markets Skagen Kon-Tiki fund team. The remaining Skagen Kon-Tiki team members are Kristoffer Stensrud, Knut Harald Nilsson, Cathrine Gether and Erik Landgraff. There are no plans to hire a replacement for Ross at present.
24/06/2013

TIAA Henderson Global Real Estate, une nouvelle société mondiale de gestion d`actifs immobiliers

TIAA-Cref, société prestataire de services financiers et Henderson Global Investors, l’un des plus importants gestionnaires de fonds en Europe, sont aujourd’hui convenus de lancer TIAA Henderson Global Real Estate, une nouvelle société mondiale de gestion d`actifs immobiliers. Le total combiné des actifs immobiliers sous gestion de TIAA-Cref et de la nouvelle entreprise représente 63 milliards de dollars.
24/06/2013

AXA PE cède ses parts du capital d’Outremer Telecom à Altice

AXA Private Equity, un des leaders mondiaux du capital investissement, annonce aujourd’hui avoir signé un accord pour la vente de sa participation majoritaire dans la société Outremer Telecom à Altice, le fonds d’investissement spécialisé dans les télécommunications. Fondé en 1986, Outremer Telecom est le premier opérateur alternatif de télécommunications dans les départements et régions d’outremer. Avec sa marque commerciale Only, le groupe est présent sur la zone Antilles-Guyane et la zone Océan Indien. En 2012, la société a réalisé un chiffre d’affaires de 195 millions d’euros.
24/06/2013

Christian Dargnat prend la présidence de l'Efama

Christian Dargnat, directeur des gestions (CIO) de BNP Paribas Investment Partners, a été élu président de l’Efama, l’association européenne des gérants d’actifs, pour un mandat de deux ans. Il était vice-président de l’Efama depuis 2011. Christian Dargnat remplace Claude Kremer.
24/06/2013

Le Qatar veut investir 10 milliards d'euros en France

L’émirat entend ainsi réaliser un « saut quantique » dans les relations entre les deux pays, a fait savoir l’ambassadeur du Qatar en France dans un entretien au quotidien Qatar Tribune. Mohamed Jaham al Kuwari a précisé que ces investissements concerneraient des « institutions françaises majeures ». La chaîne télévisée Al Djazira rapporte par ailleurs que l’émir du Qatar, Cheikh Hamad bin Khalifa al Thani, doit rencontrer aujourd’hui les membres de la famille royale et les principaux responsables politiques du pays concernant une éventuelle abdication au profit de son fils, le prince héritier Cheikh Tamim.
24/06/2013

Clive Cowdery s'intéresse au marché américain

L’investisseur britannique envisage de racheter l’assureur vie Lincoln Benefit Life pour 600 millions de livres, selon le Sunday Times. Cela marquerait son entrée sur le marché américain. TPG Capital et JC Flowers seraient également sur les rangs.
24/06/2013

151 IPOs ont eu lieu au deuxième trimestre

Selon le rapport trimestriel établi par Ernst & Young, 151 introductions en Bourse ont eu lieu au deuxième trimestre pour une levée totale de 34 milliards de dollars. Il y un an, il y avait eu 242 IPOs pour une levée de 43,8 milliards de dollars. La Bourse américaine a représenté 48 opérations pour 12 milliards récoltés, soit 32% du nombre de transactions dans le monde et 35% des capitaux levés.
24/06/2013

Les banques privées en mal de rentabilité

En Europe, un gestionnaire de fortune sur six était déficitaire l’an dernier, selon l'étude annuelle de McKinsey. Certains acteurs vont logiquement disparaître ou se consolider, même si l’attrait pour le métier rend les pertes supportables pour certains groupes pluridisciplinaires.

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