P { margin-bottom: 0.08in; } With the Luxembourg-registered Asia Fund sub-fund, Fidelity Worldwide is adding a seventh fund available in France to the Luxembourg Sicav Fidelity Active Strategy (FAST). The product, launched in late January 2013, had assets of USD24m as of 31 March. It is aimed at clients likely to be able to meet a minimal subscription of USD50,000.Like other FAST funds (USD5bn in total assets), net exposure to equities may total 135% of active assets for the long allocation, and 30% for the short portion, while the range may not be assimilated into 130/30 portfolios, as the managers short only strong convictions, but are not required to remain constantly short. In normal market conditions, net exposure to equities for the entire portfolio will range from 90% to 110% of assets.As Alex Homan, investment director, explained in a presentation in Paris, the decisive element for FAST products is the selection of equities, not the market timing. For his part, Suranjan Mukherjee, portfolio manager, said the Asia fund management team, can rely on the support of 42 on-site analysts. It uses options only to express an opinion on shares, and tracking error as of the end of February was limited to 2.9%. Net exposure to equities was 105.1%.CharacteristicsName: FAST Asia FundISIN code: LU0862795175Management commission: 1.50%

P { margin-bottom: 0.08in; } Axa Investment Managers has announced that it has added to its SmartBeta product range with the release of a new fund investing in international corporate bonds. Axa World Funds (WF) Global SmartBeta Credit Bonds, which is aimed primarily at institutional investors, is managed by Damien Maisonniac in Paris. The fund, created on 15 January 2013, complies with the European Union’s UCITS IV standards, and is domiciled in Luxembourg. The fund applies a “strategic buy and hold” strategy, which “aims for capital increase while avoiding default and turnover risks,” a statement says. AXA IM has over EUR300bn in bond assets under management (as of 30 December 2012). Axa WF Global SmartBeta Credit Bonds is available from a minimal investment of EUR5m, and is available in the following currencies: euro, USD, GBP, CHF and AUD.

P { margin-bottom: 0.08in; } In a letter sent to investors by Niall Quinn, managing director and CEO of Eaton Vance Management (International) Ltd., the asset management firm has announced that its head of business development for Europe, Pepijn Heins, has decided to leave the business, Investment Europe reports.Until a successor can be appointed, the responsibilities of the outgoing man will be provisionally assumed by Sebastian Vargas, business development director, and Stephen Tilson, senior international sales & client service analyst.

P { margin-bottom: 0.08in; } “Economic profits” (pre-tax profits according to IFRS accounting standards, plus proceeds from valuation of financial instruments) at Deka last year rose 35.6% to EUR519.3m, while they had fallen 58.6% in 2011, to EUR383.1m.The news confirms predictions by Georg Fahrenschon, chairman of the German federation of savings banks (DSGV) a month ago (see Newsmanager of 7 March), but total assets as of the end of December totalled EUR158.3bn, down from th EUR162.6bn announced at the time. This total nonetheless represents an increase of EUR7.3bn compared with the end of 2011, due to market appreciation.The central asset management firm for the German savings banks last year nonetheless underwent net outflows (excluding ETFlab, the ETF affiliate) of EUR231m, compared with EUR5.861bn in 2011. Institutional activities brought in a net inflow of EUR2.3bn, compared with EUR0.4bn, while retail suffered net redemptions of EUR2.5bn, compared with EUR6.2bn the previous year.The primary contributor to subscriptions from all categories of clients combined was the real estate unit, which posted net inflows of EUR1.6bn, compared with EUR1bn in 2011. Deka states that for open-ended funds, fourth quarter brought net inflows of EUR1.8bn, compared with net outflows of EUR3.6bn in the first nine months of the year.

P { margin-bottom: 0.08in; } ACMBernstein is now pooling its funds and institutional distributions for Germany and Austria under the single leadership of Martin vom Hagen, Institutional Money reports. Georg von Kyd-Rebenburg, a member of the board responsible for fund distribution, is leaving the business.

P { margin-bottom: 0.08in; } The integration of the Banif private bank (EUR31bn in assets) into Santander has resulted in a modification of the structures of the latter, which is planning to rename its commercial banking division as “banca comercial, España,” led by Enrique García Candelas, CEO. The division includes corporate, retail and private banking, Funds People states.The private banking unit includes the activities of the private bank of the commercial network, as well as Banif. It is led by Edouardo Suárez, who had previously been head of Banif.Asset management will continue to be led by Javier Marín.

P { margin-bottom: 0.08in; } As part of the creation of an international sales team dedicated to hedge funds at UBS, Thomas Anglin, director of sales to these clients in Australia, will move to New York. According to Finews, citing the Wall Street Journal, Anglin and his colleague, Fred Liljewall, will be overseen by Matt Foulds, director of Equity Distribution. The team will be reinforced in the next few months.

P { margin-bottom: 0.08in; } The US asset management firm VelocityShares, which is known primarily for its ETN and leveraged products, has launched three ETFs on NASDAQ, Index Univese reports. They are products focused on emerging markets, which invest in “relatively liquid” ADRs listed in London. The three funds each charge fees of 0.65%. The ETFs are as follows: •VelocityShares Emerging Markets Depositary Receipt ETF (ticker: EMDR)•VelocityShares Russia Select Depositary Receipt ETF (RUDR)•VelocityShares Emerging Asia Depositary Receipt ETF (ASDR)

P { margin-bottom: 0.08in; } Agefi reports that FXCM has proposed a buyout of Gain Capital Holdings for USD210m in shares. The operation would merge the two largest US players in online currency trading.

P { margin-bottom: 0.08in; } After serving as president and chief investment officer at Munder Capital Management, and then for six years as CIO and executive vice president of American Century Investments, Enrique Change will be joining Janus Capital Group in September, following a gardening leave, in the newly-created position of CIO for equities & asset allocation.He will report to Richard Weil, CEO.As CEO for equities, he succeeds Jonathan Coleman, who has asked to focus on portfolio management, and has been appointed as head of growth equities.

P { margin-bottom: 0.08in; } Ecofi Investissements has announced the appointment of Laurent Vidal as director of sales from 4 February. He also becomes a member of the board of directors. Vidal, 42, was director of clearing activities at Calypso. He previously served as director of sales at State Street and Sunguard, and head of bonds at NYSE-Euronext, a statement says.

P { margin-bottom: 0.08in; } BaFin has issued a sales license for Germany to the all-weather Global Optimal Income sub-fund of its Luxembourg Sicav Axa WF, Axa Investment Managers announced on 9 April (see Newsmanagers of 26 March).

P { margin-bottom: 0.08in; } Brevan Howard Asset Management has recruited Neilan Gavender, a former currency trader and senior fixed income specialist at Credit Suisse, as a portfolio manager in London, according to reports in Financial News. He left Credit Suisse in March.

P { margin-bottom: 0.08in; } Pietro Giuliani, the chairman and CEO of the Italian asset management firm Azimut, earned an income of EUR1.49m for the 2012 fiscal year, Bluerating reports. This is in line with the previous fiscal year.

P { margin-bottom: 0.08in; } The former head of ETFs in Europe and of development, ETFs and tracker products, at Lyxor Asset Management, Simon Klein, has been appointed to the newly-created position of head of ETF & ETC sales for Europe, the Middle East, Africa and Asia in the asset and wealth management (AWM) division of Deutsche Bank, which he joined in January (see Newsmanagers of 10 December).Klein will report to Thorsten Michalik head of passive, global client group at Deutsche AWM.

P { margin-bottom: 0.08in; } The British firm Ignis Asset Management has reported a net inflow for the 2012 fiscal year of GBP1.6bn, according to final results released on 5 April.Assets under management as of the end of December totalled GBP68.3bn, Ignis states, while for mandates won in 2012, it will integrate an allocation of GBP1.6bn during the year.Ignis has also recruited Mira Bhogaita as a portfolio manager in the team dedicated to British equities, Fundweb states.Bhogaita had previously worked at LV=Asset Management as a British equity portfolio manager for the LV=Group retirement programme.She will report to Graham Ashby, head of British equity activities, and will oversee a team of eight managers, responsible for about GBP5.9bn in assets for retail and institutional clients.

P { margin-bottom: 0.08in; } Fundweb reports that Sarasin & Partners has recruited Sarah McCarthy as head of marketing. She had previously been executive director at Goldman Sache Asset Management, and previously served as senior marketing manager at Fidelity Worldwide Investment.

Santander Asset Management, Grupo Santander’s asset management unit, has appointed Adam Cordery as Global Head of European Fixed Income within its global investment team.Cordery joins Santander Asset Management having previously worked at Schroders where he was in charge of building portfolios and managing European fixed income funds in Euros and Sterling. With over 15 years’ experience in the industry, Cordery will be responsible for Santander Asset Management’s European fixed income and credit teams across all of the European countries in which the company operates. These teams are currently made up of 17 professionals, responsible for over €13 billion of assets under management through different investment vehicles (investment funds, pension and institutional mandates).

P { margin-bottom: 0.08in; } The US firm Capital Group has announced that it has recruited Grant Leon as head of sales. He will be based in London, and will work with global, regional and local financial institutions, Funds People reports. Leon has spent 15 years at Aberdeen Asset Management, most recently as head of global financial institutions.

P { margin-bottom: 0.08in; } KBL European Private Bankers (KBL epb) on 9 April announced the appointment of the lawyer Hanif Mohamed as Group Chief Legal Officer, based in Luxembourg. In this newly-created position, Mohamed will supervise and coordinate the activities of all legal departments across the nine European countries of the KBL epb network. He will also direct development and implementation of legal policies throughout the group, and will provide guiding legal opinions. At a time when KBL epb is actively seeking to make acquisitions in target markets, such as France, the Netherlands and Spain, Mohamed will have a particularly important advising role in transactions of this type, relying on his great experience in the area of mergers and acquisitions. Mohamed recently served as Head of Legal for Mergers & Acquisitions and Restructuring at Dexia. Before that, he worked at Ashurst, an international law firm, and was posted to Brussels, London and Abu Dhabi.

Ancien responsable de l’activité ETF en Europe et du développement, des ETF et des produits indiciels chez Lyxor Asset Management, Simon Klein a été nommé au poste nouvellement créé de head of ETFs & ETCs sales pour l’Europe, le Moyen-Orient, l’Afrique et l’Asie dans la division gestion d’actifs et de fortune (AWM) de la Deutsche Bank, qu’il avait rejointe en janvier.L’intéressé sera subordonné à Thorsten Michalik, head passive, global client group de Deutsche AWM.

KBL European Private Bankers (KBL epb) a annoncé le 9 avril la nomination du juriste Hanif Mohamed en tant que Group Chief Legal Officer, basé à Luxembourg. Dans ce poste nouvellement créé, il supervisera et coordonnera les activités de tous les services juridiques à travers les neuf pays européens du réseau de KBL epb. Il dirigera également le développement et la mise en oeuvre des politiques juridiques à travers le groupe, en fournissant des avis juridiques pour la direction. Alors que KBL epb cherchera activement à faire des acquisitions dans des marchés ciblés - tels que la France, les Pays-Bas et l’Espagne – Hanif Mohamed aura un rôle particulièrement important de conseiller pour ce genre de transactions, s’appuyant sur sa grande expérience dans le domaine des fusions et acquisitions.Tout récemment, Hanif Mohamed a occupé le poste de Responsable Juridique des Fusions & Acquisitions et Restructuration au sein de Dexia. Avant cela, il a travaillé chez Ashurst, un cabinet d’avocats international, avec des affectations à Bruxelles, Londres et Abou Dhabi.

Le gestionnaire américain VelocityShares, plutôt connu pour ses ETN et ses produits à effet de levier, vient de lancer trois ETF sur le Nasdaq, rapporte Index Universe. Il s’agit de produits focalisés sur les marchés émergents et qui investissent dans des ADR «relativement liquides», cotés à Londres. Ces trois fonds sont chargés chacun à 0,65 %.Ces ETF sont les suivants : •VelocityShares Emerging Markets Depositary Receipt ETF (acronyme: EMDR)•VelocityShares Russia Select Depositary Receipt ETF (RUDR)•VelocityShares Emerging Asia Depositary Receipt ETF (ASDR)

Dans le cadre de son offre ISF 2013, la société de capital investissement Calao Finance lance le FCPI Expertise Innovation et un service de conseil en investissement baptisé Conseil Privé, proposant une sélection de PME en direct. L’univers d’investissement du fonds pourra concerner des activités telles que la sécurité informatique, les technologies de l’information, les matériaux hautes performances, la distribution spécialisée, le bien-être, le luxe, le multimédia ou l’e-commerce.Par ailleurs, via son activité de conseil en investissement, Conseil Privé, la société de gestion propose un dispositif permettant d’investir en direct dans une sélection d’entreprises, indique un communiqué.Caractéristiques : Durée minimum: 6 ansFrais de gestion annuel : 3,85%

Les actifs sous gestion du fonds de la sécurité sociale chinoise (NSSF) pourraient enregistrer une multiplication par quatre au cours des sept prochaines années pour s'établir à quelque 5.000 milliards de renminbi, soit environ 806 milliards de dollars, en 2020, selon l’ancien président du fonds, Dai Xianglong, rapporte Asian Investor.Selon le bureau de conseil Z-Ben Advisors, basé à Shanghai, le fonds devrait parallèlement proposer davantage de mandats aux sociétés de gestion étrangères. Fin 2011, 42% des actifs du NSSF étaient gérés par des gestionnaires externes. Les chiffres pour 2012 n’ont pas encore été publiés.En 2011, les actifs sous gestion du fonds ont fait un bond de 27,5% pour s'établir à 1.100 milliards de renminbi. Le fonds a dégagé un rendement de 7%.

L’association suisse Actares recommande aux actionnaires de Swiss Re de refuser le rapport sur les rémunérations lors de l’assemblée générale du réassureur programmée pour le 10 avril. L’association juge que les montants versés aux dirigeants du groupe zurichois dépassent " de loin toute mesure acceptable et raisonnable».Dans un communiqué publié le 9 avril, Actares, Actionnariat pour une économie durable, exige en outre que Swiss Re intègre son rapport sur la durabilité à son rapport annuel, conformément à la bonne pratique. Le réassureur zurichois ne prévoit de publier ce document qu’en mai, «signe qu’il a aux yeux de Swiss Re une importance mineure et qu’il n’y a pas lieu d’en discuter lors de l’assemblée générale», estime l’association.Pour mémoire, Swiss Re a mieux payé ses dirigeants l’an passé. Le montant alloué aux deux patrons qui ont dirigé le réassureur en 2012 s’est inscrit à 6,74 millions de francs, contre 5,36 millions en 2011. Ils ne pourront toutefois toucher que plus tard une bonne partie de cette somme, versée sous formes d’actions.Patron du numéro deux mondial de la réassurance jusqu'à fin janvier 2012, Stefan Lippe a perçu un douzième de ce montant, le reste revenant à son successeur, l’actuel directeur général, Michel Liès. Au regard de 2011, la part fixe de cette rémunération, y compris les cotisations de prévoyance professionnelle, a diminué, passant de 2,36 à 1,84 million de francs. En revanche, la part variable a grimpé de 3 à 4,9 millions de francs. Le montant dévolu à l’ensemble de la direction générale de Swiss Re a pour sa part été fixé à 12,3 millions, contre 11,7 millions en 2011.Actares relève en fin qu’une nouvelle candidature féminine est proposée, en la personne de Mary Francis, dans le cadre des élections au conseil d’administration. " La proportion féminine au sommet de l’entreprise reste pourtant clairement insuffisante. La direction de Swiss Re était en 2012 encore purement masculine. Il est vrai qu’un effort pour la promotion des femmes dans l’entreprise est en oeuvre, mais leur nombre dans le conseil d’administration et au niveau de la direction est nettement en retrait, en comparaison avec d’autres sociétés suisses de premier plan», deplore Swiss Re.

Le groupe de capital investissement KKR a annoncé le 10 avril le recrutement de Horifumi Hirano en tant que nouveau CEO de KKR Japan. L’actuel directeur général de KKR au Japon, Shusaku Minoda est promu président. Ces deux nominations seront effectives à compter du 15 avril, précise un communiqué de KKR.Horifumi Hirano travaillait précédemment chez Alix Partners en tant que responsable du pôle services financiers pour l’Asie.KKR, qui a déjà recruté deux experts le mois dernier pour son équipe japonaise, marque ainsi sa volonté de développer ses activités sur le marché nippon

Vontobel vient de recruter l’ancien responsable Private Banking de Sarasin, Werner Rüegg, qui va s’occuper plus particulièrement des activités de la succursale de Bâle, rapporte le site insideparadeplatz. Son arrivée, confirmée par la société, souligne la détermination de Vontobel de renforcer sa présence sur son marché domestique par le biais de l’engagement de personnalités de la gestion privée, apportant leur renommée et leurs réseaux.

Dans le cadre de la création d’une équipe commerciale internationale dédiée aux hedge funds chez UBS, Thomas Anglin, directeur commercial auprès de cette clientèle pour l’Australie, va déménager et travailler dorénavant à New York. Selon Finews, qui cite le Wall Street Journal, Thomas Anglin et son collègue Fred Liljewall seront supervisés par Matt Foulds, directeur du Equity Distribution. L'équipe devrait être renforcée au cours des prochains mois.

Pietro Giuliani, le président et directeur général de la société de gestion italienne Azimut, a perçu une rémunération de 1,49 million d’euros au titre de l’exercice 2012, rapporte Bluerating. Un montant en ligne avec l’exercice précédent.