Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
06/05/2013

LGIM raising increasingly loud objections to pay scales

P { margin-bottom: 0.08in; } Last year, Legal & General Investment Management (LGIM) intensified its efforts to combat excessive pay scales, voting against 126 pay policies and 22 chairmen of remuneration committees at companies it had invested in, Financial Times Fund Management (FTfm) reports.Among the firms concerned are WPP, Barclays, Pendragon, novartis, UBS, Credit Suisse and UniCredit.LGIM states that it has extended its voting rights policy to emerging markets, now that it is more exposed to these countries.
06/05/2013

European long-term funds continue to lead in first quarter

P { margin-bottom: 0.08in; } European investors are continuing to seek returns, according to the most recent statistics on European inflows from Morningstar. Long-term funds (excluding funds of funds and feeder funds) have posted record net inflows of EUR115.12bn in first quarter. And money market funds have seen redemptions in the first three months of 2013, which means that investors are continuing to seek returns rather than security despite the euro zone crisis. In the month of March alone, investors continued to invest in bond funds, which posted inflows of EUR15.1bn. Allocation funds posted a net inflow of EUR8.8bn, and equity funds took in EUR4.2bn in new money. Diversified bond funds denominated in US dollars or euros and British mixed large cap funds posted the heaviest outflows in March. Redemptions totalled over EUR2bn for bond funds, and EUR843m for the British funds. Templeton Global Total Return Fund takes first place among long-term funds in Europe, both in March and for first quarter, with inflows of EUR1.72bn and EUR4.29bn, respectively. For first quarter, it is followed by the Pimco GIS Unconstrained Bd, with EUR2.538bn, JP Morgan Asia Pacific Income Fund (EUR2.47bn) and Templeton Glb Bond (EUR1.99bn).
06/05/2013

accelerando associates recruits

P { margin-bottom: 0.08in; } The Frankfurt-based third-party marketer accelerando associated on 1 May recruited Michael Geier as director of third-party marketing in Frankfurt, and Chrisian Parrado Myrom as associate director & analyst in Valencia. Geier has 20 years of experience in the area of fund sales. He was most recently head of Germany & Austria at Standard Life Investment in Edinburgh, after working for ABN Amro Asset Management Germany and Mellon Global Investment. Parrado had previously worked at Allfonds Bank.
06/05/2013

Change of directors at CIMB-Principal AM

P { margin-bottom: 0.08in; } CIMB-Principal Asset Management, a joint venture of CIMB Bank and the US firm Principal Global Investors, based in Kuala Lumpur, has appointed a new CEO for its Malaysian and Thai activities and its Islamic funds, Asian Investor reports. Following the departure of the CEO of CIMB-Principal AM Campbell Tupling, who left in early April, and who was replaced by Pedro Borda, Asian Investor reports that Jumpon Saimala will take over as director of activities in Thailand. He had previously been CEO of ING Funds Thailand. Meanwhile, Noripah Kamso has left his position as CEO of Islamic funds at the firm. She has been replaced by Ramlie Kamsari, who had been approached for the position several months ago.
06/05/2013

Former JP Morgan traders launch their own firm

P { margin-bottom: 0.08in; } Five former private bankers specialised in proprietary trading at JP Morgan in Singapore have launched a new asset management firm, with the support of one of the largest fund managers in Canada, Mackenzie Investments, whose assets under management total USD64bn, the news agency Reuters reports. The firm is planning to launch two funds dedicated to credit markets. Mackenzie will contribute seed capital of USD100m for a long-only bond fund, and USD20m for a long/short hedge fund which will combine credit and macro strategies.
06/05/2013

Franklin Templeton opens three offices in Italy

P { margin-bottom: 0.08in; } Franklin Templeton has opened three offices in Italy, in Rome, Florence and Padua, Bluerating reports. These locations come in addition to the Milan offices. The US asset management firm, which as of the end of March had EUR27.4bn in assets under management in Italy, is preparing to launch its roadshow in Italy to meet professional investors throughout the country.
06/05/2013

Henderson hires analyst for its tech sector team

P { margin-bottom: 0.08in; } Henderson Global Investors has recruited a senior analyst, in the person of Graeme Clark, as an addition to its team specialised in tech sector equities, Citywire reports. Niall Holleran, who had previously been an intern on the team, has also now been promoted to research assistant.In the past three years, the Henderson HF Global Technology fund, whose assets total about EUR3bn, has earned returns of 23.3%, compared with 25.9% in the same period for the MSCI AC World/Information Technology.
06/05/2013

New head for Julius Baer in Vienna

P { margin-bottom: 0.08in; } Ewgeni Smuskovich has been appointed as director of the Vienna location of the Swiss firm Julius Baer, succeeding Erich Gröger, who is retiring. Smuskovich joined the Swiss group in 2011, and led the team in Vienna which serves Russian and Eastern European clients.
06/05/2013

Strong inflows since the beginning of the year for Och-Ziff

P { margin-bottom: 0.08in; } Assets under management at the US firm Och-Ziff totalled USd35.6bn as of 1 May, compared with USD30.1bn as of the end of March 2012. Two factors contributed to this development, a positive market effect of USD1.8bn, and a net inflow of USD1.2bn compared with 31 December 2012. The OZ Master Fund, whose assets under management totalled USD22.2bn as of the end of March 2013, earned returns of 5.4% in the first four months of the year.
06/05/2013

Promotion for John Boritzke at BMO Global AM

P { margin-bottom: 0.08in; } While remaining as co-manager of the “intermediate tax-free” strategy, John Boritzke will now act as managing director, with the role of head of fixed income at BMO Global Asset Management (USD125bn as of the end of January), the firm has announced. Boritzke joined the firm in 1983. He will report to Craig Rawlins, Cio of BMO Asset Management US.
06/05/2013

BBVA liquidates Unnim Gesfonds

P { margin-bottom: 0.08in; } After winning an auction held in 2012 by the Fund for Orderly Bank Restructuring (FROB) for the Catalan business Unnim, BBVA has absorbed the firm Unnim Gesfonds SGIIC, which has now been liquidated, Funds People reports. As a result, the number of asset management firms registered with the CNMV has declined to 102.BBVA Asset Management, the largest security management firm in Spain, has assets of EUR19.13bn in 207 products. Unnim at the time of its demise had 15 funds.
06/05/2013

Hedge funds' favourite ETFs don't necessarily show gains

P { margin-bottom: 0.08in; } The SPDR Gold Trust ETF is the most popular ETF with hedge funds, according to the most recent rankings by Insider Monkey. Paulson & Co, First Eagle Investment Management and Empyrean Capital Partners are some of the major hedge funds which have bet on the ETF. Unfortunately for them, the fund has lost about 12% since the beginning of this year. The second most popular ETF with hedge funds is the Financial Select Sector SPDR, which has gained nearly 14% since the beginning of the year, and has been selected by Renaissance Technologies, Moore Global and Tudor Investment, among others. Ishares MSCI Emerging Markets Index, the third product in the rankings, is the favourite of Duquesne Capital and Arrowstreet Capital, among others. It has lost nearly 3% since the beginning of the year. In fourth place, iShares FTSE/Xinshua China 25 index is down more than 7% since the beginning of the year, while the iShares Russell 2000 Index, selected by Dreman Value Management and D.E. Shaw & Co, has gained more than 11% since the beginning of the year. SAC Capital and Caxton Associates can be glad to have put their money on the iShares MSCI Japan Index, which takes sixth place, and which has gained 19.64% since the beginning of the year. However, the Market Vectors Junior Gold Miners ETF, held by Soros Fund Management and Tiger Management, has lost more than 36% since the beginning of the year.
06/05/2013

AUM at Man Group down in first quarter

P { margin-bottom: 0.08in; } Assets under management at the alternative management boutique Man Group as of the end of March totalled USD54.8bn, compared with USD57bn as of the end of December 2012, according to a statement released on 3 May.This decline in assets is due to a net outflow of USD3.7bn, resulting from subscriptions of USD2.5bn, and redemptions totalling USD6.2bn. This increase in redemptions is due to the loss of three major low-margin mandates, the CEO of Man Group, Manny Roman, says in a statement.In addition to this currency effects had a negative impact of USD1.6bn, due to the strength of the US dollar against the yen, euro and pound sterling.
06/05/2013

Assets under management at RBS wealth management unit up 7%

P { margin-bottom: 0.08in; } Assets under management by the wealth management unit of the British RBS group, including the Coutts private bank, as of the end of March totalled GBP30.8bn, up 7% compared with the end of December 2012, according to an interim report released on 3 March by RBS. This development is largely due to a rebound on the markets in first quarter, RBS says, which offset outflows of low-margin assets and transfers of funds due to the sale of activities in Latin America, the Caribbean and Africa.
06/05/2013

Aviva Investors recruits head of SRI integration

Aviva Investors has hired Adeline Diab as head of integration for its global responsible investment team, the asset management company announced on May 2. She reports to Steve Waygood, chief responsible investment officer.Adeline Diab joins Aviva Investors from APG Asset Management in the Netherlands where she was responsible for embedding environmental, social and governance (ESG) into the investment process across asset classes. Her role also involved active engagement with companies across a broad range of areas. Prior to this, she held roles with London-based hedge fund, GLG Partners, where she managed a sustainable investment strategy in addition to two equity funds, and HSBC Asset Management in Paris, where she co-established the ESG research team.In her role at Aviva Investors, Adeline Diab will lead the responsible investment officer analyst network, supporting them in identifying material ESG issues and seeking out global opportunities to integrate ESG into mainstream investment processes.
06/05/2013

Alfi website available in Mandarin Chinese

P { margin-bottom: 0.08in; } The Luxembourg investment fund association (ALFI) on 3 May announced that it is launching a section of its website in Mandarin Chinese in order to strengthen ties with the asset management sector in China. The section includes basic information about the asset management sector in Luxembourg, and about regulations. It also lays out the steps to be taken in order to domicile a fund in Luxembourg, and includes recommendations by the association for risk management. “Bilateral relations between China and Luxembourg are already well-developed in the financial services sector. The European headquarters of the Bank of China and ICBC are located in Luxembourg, and the China Construction Bank is also in the process of setting up its headquarters in the Grand Duchy,” the president of ALFI, Marc Saluzzi, says in a statement.
06/05/2013

Franklin Templeton launches three funds

P { margin-bottom: 0.08in; } Franklin Templeton has launched three sub-funds of its Luxembourg Sicav Franklin Templeton Investment Funds (FTIF). The first of these, the Templeton Asian Dividend Fund, is a dividend fund focused on Asia managed by Mark Mobius, executive chairman, Templeton Emerging Markets Group, and Tom Wu, senior executive vice president and senior managing director, Templeton Asset Management Ltd. The fund universe includes Bangladesh, Cambodia, China, Hong Kong, India, Indonesia, Korea, Malaysia, Pakistan, the Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam. The second sub-fund, released by Franklin Templeton Real Asset Advisors, is the Franklin Templeton Investment Funds Franklin Global Listed Infrastructure Fund, a global infrastructure fund. The managers of the fund are Wilson Magee, director of Global REITs (Real Estate Investment Trusts), and Jack Foster, head of Real Assets, for Franklin Templeton Real Asset Advisors (FTRAA). The final sub-fund is the Franklin Multi-Asset Income Fund, launched by Franklin Templeton Multi-Asset Strategies (FTMAS). The multi-asset class fund was designed for investors seeking an investment solution oriented to income and potential for capital appreciation. It will be managed by Thomas A. Nelson and Matthias Hoppe.
06/05/2013

Bruxelles écorne le pacte de stabilité

La révision en baisse des perspectives de croissance de la Commission européenne justifie le report du retour sous les 3% de déficit. Bruxelles accorde ainsi un répit de deux ans, jusqu’en 2015, à la France, dont le déficit se creuserait l’an prochain faute de réformes.
06/05/2013

Les gérants étrangers à la peine en Corée du Sud

Le quotidien souligne les difficultés éprouvées par les gestionnaires d’actifs internationaux pour bâtir une présence pérenne en Corée du Sud. 8 des 22 acteurs étrangers présents dans le pays y ont subi une perte au titre du quatrième trimestre 2012, avec des actifs en retrait contre une progression pour les acteurs locaux. Goldman Sachs a jeté l’éponge l’an passé en se retirant du marché.
06/05/2013

L’immobilier séduit le fonds souverain norvégien

Le fonds souverain norvégien, riche de 720 milliards de dollars d’actifs, presse le pas dans ses investissements dans l’immobilier. La valeur de ce segment de son portefeuille s’élève désormais à 6,5 milliards. Le fonds vise 5% de ses actifs à moyen terme et entend devenir «un grand nom dans le monde de l’immobilier», selon le quotidien.
06/05/2013

Santander délaisse la gestion d’actifs

Le quotidien britannique assure que la banque espagnole est en «négociations avancées» avec un tandem de private equity formé de Warburg Pincus et General Atlantic en vue de leur céder une «participation conséquente» au sein de son activité de gestion d’actifs. Santander a tenté à plusieurs reprises de se défaire de cette activité, dont les actifs sous gestion atteignent 161 milliards d’euros en Europe, au Royaume-Uni et en Amérique Latine. Mais les pourparlers s’avèrent délicats car un tiers des actifs sont en Espagne. L’opération évoquée par le quotidien permettrait à Santander à la fois de lever du capital et de soutenir le développement de l’activité.

Sujets d'actualité

Tous les sujets