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11/04/2013
Fonds

Alex Denner lance un hedge fund activiste

L’ancien patron des investissements dans la santé chez Carl Icahn, Alex Denner, va lancer un hedge fund activiste dans le secteur de la santé, dénommé Sarissa Capital Management, rapporte l’agence Bloomberg.Alex Denner devrait démarrer ses activités au deuxième trimestre avec des capitaux émanant de Meritage Group.Il devrait travailler avec Mayu Sris, un ancien analyste d’Icahn Associates, qui sera managing director, et Richard Mulligan, professeur de génétique à la Harvard Medical School, qui sera senior managing director.
Fonds
11/04/2013

BlackRock recrute un ancien ministre mexicain

Gerardo Rodriguez Regordosa, ancien sous-secrétaire aux Finances du Mexique, rejoindra BlackRock le 22 avril comme managing director et membre senior de l'équipe dirigeante marchés émergents. Il sera basé à New York et subordonné à la fois à Richard Kushel, senior managing director et head of strategic product management, et Patrick Olsen, managing director et global head of strategy & planning.L’encours marchés émergents de BlackRock se situe à environ 250 milliards de dollars.
11/04/2013

OppenheimerFunds crée un poste de CIO allocation d'actifs

Depuis le 8 avril 2013, Mark Hamilton est devenu CIO, asset allocation, d’OppenheimerFunds, un poste nouvellement créé. Il est subordonné à Art Steinmetz, le CIO. L’intéressé a passé 19 ans chez AllianceBernstein, en dernier lieu comme investment director dans l'équipe d’allocation d’actifs dynamique.
11/04/2013
Fonds

First State Stewart pourrait limiter l'accès à ses fonds émergents

La société de gestion First State Stewart a indiqué dans une lettre à ses actionnaires qu’elle pourrait être contrainte de «soft closer» 11 des 13 fonds de sa gamme offshore dédiée aux marchés émergents, en raison de la forte demande des investisseurs, rapporte Investment Week.L’an dernier, First State Stewart a déjà «soft closé» les fonds Hong Kong Growth et Indian Subcontinent. Le mois dernier, First State a redoublé ses efforts pour limiter la collecte du fonds Asia Pacific Leaders, géré par Angus Tulloch dont les actifs sous s'élèvent à quelque 7,4 milliards de dollars, en demandant aux gestionnaires de fortune de d'éviter les gros tickets.
Fonds
11/04/2013
Fonds

Direxion lance des ETF à effet de levier

Index Universe rapporte que Direxion vient de lancer sur NYSE Arca deux ETF à effet de levier (3x) sur le Brésil et la Corée du Sud. Le Direxion Daily Brazil Bull 3X Shares et le Direxion Daily South Korea Bull 3X Shares sont chargés à 1 %.D’autre part, Direxion attend l’autorisation de la SEC pour quatre paires d’ETF (bull et bear 3 x) sur le Chili, le Mexique, Hong-Kong et le Japon.
Fonds
11/04/2013
Fonds

Market Vectors envisage de lancer un ETF actions dédié à Israël

L’entité de Van Eck Global spécialisée dans les ETF, Market Vectors, a déposé un dossier auprès de la Securities and Exchange Commission (SEC) pour le lancement d’un ETF actions dédié à Israël, selon IndexUniverse.Le Market Vectors Israel ETF, qui sera chargé à 0,59%, sera basé un indice créé par BlueStar Indexes. Au moins 80% des actifs du fonds seront investis dans cet indice qui au 1er mars 2013 comprenait 94 titres de sociétés avec une capitalisation boursière moyenne de 1,9 milliard de dollars.Cet ETF est le deuxième produit dédié au marché israélien après le iShares MSCI Israel Capped Investable Market Index Fund, dont les actifs sous gestion s'élèvent à 83,4 millions de dollars
Fonds
11/04/2013

AXA cède un portefeuille d'assurance-vie pour 1,06 milliard de dollars

Le groupe d’assurances français AXA a annoncé le 9 avril qu’il allait céder le portefeuille d’une filiale d’assurance-vie aux Etats-Unis, MONY Life Insurance, à Protective Life Insurance pour 1,06 milliard de dollars. Compte tenu de l’accord signé avec ce groupe américain, la vente doit être réalisée à la date du 1er octobre, indique le groupe français dans un communiqué. MONY Life Insurance est une filiale du groupe MONY qu’Axa avait acquis en 2004 pour 1,5 milliard de dollars. Le réseau de distribution de MONY reste propriété d’AXA et n’est pas concerné par cette transaction, qui sera réglée en numéraire, précise le communiqué. Selon le texte, la vente doit permettre à AXA de disposer de fonds pour son développement aux Etats-Unis et procède de la stratégie du groupe consistant à vendre des portefeuilles «fermés» (c’est-à-dire dont la croissance a été délibérément interrompue) pour permettre «des investissements supplémentaires dans des segments de marché ou des activités à forte croissance».
11/04/2013

LGIM recrute sa directrice financière chez Aviva

Sous réserve de l’agrément des autorités de régulation, Siobhan Boylan est nommée directrice financière (CFO) de Legal & General Investment Management (LGIM, 406 milliards de livres au 31 décembre 2012), poste auquel elle sera subordonnée au CEO Mark Zinkula.L’impétrante était CFO d’Aviva North America à Chicago, avec la responsabilité financière des activités du groupe Aviva pour les Etats-Unis et le Canada. De 2007 à 2011, elle avait été CFO d’Aviva Investors à Londres.
11/04/2013

JPMorgan présente ses excuses

The Wall Street Journal rapporte que James Dimon, CEO de JPMorgan, a présenté mercredi une nouvelle fois ses excuses aux actionnaires pour le scandale de la «Baleine de Londres».
11/04/2013

Hermes IM recrute un analyste senior pour son pôle matières premières

La boutique britannique Hermes Investment Management vient de recruter Joseph Murray en tant qu’analyste senior au sein de son équipe dédiée aux matières premières, rapporte Citywire.Joseph Murray a travaillé précédemment pour Aon Hewitt ainsi que le BT Pension Scheme Management. Dans ses nouvelles fonctions, Joseph Murray sera chargé de l’exécution des ordres ainsi que de la couverture des métaux industriels et précieux.
11/04/2013

Old Mutual GI recrute chez Aviva Investors

Robert James rejoindra cet été comme analyste senior l'équipe de gestion actions britanniques d’Old Mutual Global Investors (OMGI) en provenance d’Aviva Investors où il était en dernier lieu analyste pour les financières paneuropéennes. De cette façon, précise Julian Ide, CIO d’OMGI, l'équipe grandes capitalisations britanniques sera au complet, après les recrutements de Richard Buxton, Errol Francis et Ed Meier.
11/04/2013

Psigma IM recrute un ancien de LGIM

L’ex-directeur des ventes de LGIM, Franck McGarry, rejoint Psigma Investment Management en qualité de directeur du marketing et du développement, rapporte Investment Week.Franck McGarry sera rattaché à John Howard-Smith, CEO de Psigma.
11/04/2013

JPMAM recrute une grosse pointure chez UniCredit

Le Français Jean-François Hautemulle, directeur de la sélection de fonds pour le pôle banque privée d’UniCredit, a rejoint JPMorgan Asset Management comme directeur de la division stratégie produits, rapporte Citywire. Il sera désormais basé à Londres, et quittera donc Milan.
11/04/2013

Prupim acquiert un portefeuille immobilier et devient M&G Real Estate

Le promoteur The Berkeley Group Holdings plc a cédé à Prupim, qui devient M&G Real Estate, un portefeuille résidentiel d’un montant de 105,4 millions de livres. L’opération a été financée pour partie par la Homes & Communities Agency (HCA). Ce portefeuille comporte 534 logements en location sur 13 sites dans le Grand Londres ainsi que dans le Sud-Est et le Sud de l’Angleterre. Berkeley conservera une participation minoritaire. La gestion du portefeuille au jour le jour sera assurée par Savills.
11/04/2013

Direxion launches leveraged ETFs

P { margin-bottom: 0.08in; } Index Universe reports that Direxion has launched two leveraged ETFs (3x) based on Brazil and South Korea on NYSE Arca. The Direxion Daily Brazil Bull 3x Shares (ticker: BRZU) and the Direxion Daily South Korea Bull 3X Shares (KORU) charge fees of 1%. Direxion is also awaiting permission from the SEC to launch four pairs of ETFs (bull and bear 3x) based on Chile, Mexico, Hong Kong and Japan.
11/04/2013

Market Vectors planning to launch an Israel equity ETF

P { margin-bottom: 0.08in; } The arm of Van Eck Global specialised in ETFs, Market Vectors, has submitted an application to the Securities and Exchange Commission (SEC) to launch an equity ETF dedicated to Israel, IndexUniverse reports. The Market Vectors Israel ETF, which will charge 0.59%, will be based on an index created by BlueStar Indexes. At least 80% of assets in the fund will be invested in the index, which as of 1 March 2013 included 94 shares in companies with an average market capitalisation of USD1.9bn. The ETF is the second product dedicated to the Israeli market, following the iShares MSCI Israel Capped Investable Market Index Fund, whose assets under management total USD83.4m.
11/04/2013

Stirling House launches funds of funds

P { margin-bottom: 0.08in; } Stirling House Financial Services is launching five new funds of funds aimed at private clients, which will be managed by Sarasin & Partners, Investment Week reports. Four of the funds have already been launched: HC Stirling House Defensive, HC Stirling House Balanced, HC Stirling House Growth and HC Stirling House Dynamic, which range from the middle to the top end of the risk scale. The fifth fund, HC Stirling House Adventurous, is expected to be launched in the next few months, with an inflow objective of over GBP100m. The funds have recently been licensed by the FSA as vehicles which do not comply with UCITS, with a minimal investment of GBP5,000 and a management commission of 0.70% per year.
11/04/2013

BNY Mellon recruits Japanese equity team from ING IM

P { margin-bottom: 0.08in; } BNY Mellon Asset Management has announced that it has recruited a team of Japanese equity specialists (managers, analysts, and one trader) led by Miyuki Kashima, from ING Investment Managers. Ms. Kashima joined ING IM in mid-2009, after working at Merrill Lynch Mercury (which has since become BlackRock).The professionals will report to Shizu Kishimoto, representative director and president of BNY Mellon AM Japan, and the regional CEO, Alan Harden. ING IM calls the changes a “transfer” following a decision no longer to actively manage equity portfolios for external clients in Japan. The team will continue to be sub-advisor to the portfolio it currently manages.BNY Mellon AM had previously had only one Japanese equity fund in its range, the BNY Mellon Japan Equity Value Fund, an Irish-registered product managed by Andrew Jenner and Mike Morris.Douglas L. Hymas, president & CEO of ING Mutual Funds Management Company (Japan) Ltd, says that the strategy of his business is to focus increasingly on distribution of foreign assets to external clients, while Harden says that BNY Mellon is “aggressively” developing its asset management activities in Asia-Pacific with Japan a key element in this strategy.
11/04/2013

JPMorgan selected as custodian by PGGM

P { margin-bottom: 0.08in; } The Netherlands pension fund PGGM (2.5 million subscribers and EUR133bn in assets) has selected JPMorgan, after several months of due diligence, as its global custodian, while BNY Mellon and Citi were also contenders, FondsNieuws reports.
11/04/2013

Private equity investors sell off a lot of shares

P { margin-bottom: 0.08in; } The Wall Street Journal has calculated that in the first three months of the year, private equity investors have sold shares at 50 follow-on offerings totalling USD20.5bn. This is particularly true of Bain Capital, KKR and Apollo Global Management. The number of deals is twice that observed in the corresponding period of 2012, according to Dealogic. The rise in sales of these shares is due to a trend toward funds investments in US equities, and a need on the part of private equity investors to free up cash.
11/04/2013

First State Stewart may limit access to emerging market funds

P { margin-bottom: 0.08in; } The asset management firm First State Steward has announced in a letter to its shareholders that it may be required to soft close 11 of the 13 funds in its offshore range dedicated to emerging markets, due to strong demand from investors, Investment Week reports. Last year, First State Stewart soft closed its Hong Hong Growth and Indian Subcontinent funds. Last month, First State redoubled its efforts to limit inflows to the Asia Pacific Leaders fund, managed by Angus Tulloch, with assets under management of about USD7.4bn, by asking wealth managers to avoid large investments.
11/04/2013

OppenheimerFunds creates a position for a CIO of asset allocation

P { margin-bottom: 0.08in; } Since 8 April 2013, Mark Hamilton has been CIO, asset allocation, at OppenheimerFunds, a newly-created position. He reports to Art Steinmetz, CIO. Hamilton spent 19 years at AllianceBernstein, most recently as investment director in the dynamic asset allocation team.
11/04/2013

BlackRock recruits a former Mexican minister

P { margin-bottom: 0.08in; } Gerardo Rodriguez Regordosa, former Mexican undersecretary of finance, will join BlackRock on 22 April as managing director and senior member of the emerging markets management. He will be based in New York, and will report both to Richard Kushel, senior managing director and head of strategic product management, and Patrick Olsen, managing director and global head of strategy & planning. Emerging market assets at BlackRok total about USD250bn.
11/04/2013

Former head of fixed income at BlackRock joins Mariner Investment

P { margin-bottom: 0.08in; } The alternative management firm Mariner Investment Group has recruited the former head of global rates from BlackRock, Eric Pelliciaro, Citywire reports. The bond market specialist, who left BlackRock in December last year, has taken charge of a macro portfolio, the Alarium Mariner Global Macro fund. Assets under management at Mariner Investment group total about USD10bn, invested in single and multi-strategy hedge funds, funds of funds and alternative investments.
11/04/2013

Alex Denner launches an activist hedge fund

P { margin-bottom: 0.08in; } The former chief investment officer for health care at Carl Icahn, Alex Denner, will be launching an activist health care sector hedge fund, entitled Sarissa Captial Management, the news agency Bloomberg reports. Denner is expected to begin his activities in second quarter, with capital from Meritage Group. He will work with Mayu Sris, a former analyst at Icahn Associates, who will be managing director, and Richard Mulligan, professor of genetics at Harvard Medical School, who will be senior managing director.
11/04/2013

Allianz GI makes a foray into Asian debt

P { margin-bottom: 0.08in; } The Luxembourg-registered fund Allianz Flexi Asia Bond from Allianz Global Investors (AGI), launched on 3 July 2012, now has reached USD560m in assets, 80% to 90% of which is from Asian investors, including some pension funds, David Tan, CIO for Asia-Pacific fixed income, said on a visit to Paris on 10 April.The specialist says that investing in Asian bonds allows Western investors to diversify, by avoiding the structural problems of Europe. Asia offers solid fundamentals, high returns and potential for appreciation of currencies.The fund is managed in Singapore by Chee Seng Cheng in Singapore, with an absolute return approach, and the objective of delivering returns for investors of 5.5-6%, with ex ante volatility of 5.5% (it has been under 3% so far). Currently, the portfolio has 93 positions, and returns were 8.30% in US dollars as of 2 April, compared with 6.07% for the benchmark index, the HSBC Asian Local Bond Index (ALBI).The management team currently favours the Philippines, China and Korea. It may invest in high-yield bonds, government bonds in local as well as hard currencies, both investment and speculative grade corporate bonds, inflation-linked and convertible securities, but not in loans. Tan states that the portfolio is currenrtly 38% composed of securities denominated in US dollars, and 44% in securities falling into the high yield category.The CIO for Asia-Pacific fixed income says that for the moment, the capacity limit for the highly flexible fund is about USD5bn.
11/04/2013

Psigma IM recruits an LGIM veteran

P { margin-bottom: 0.08in; } The former director of sales from LGIM, Franck McGarry, is joining Psigma Investment Management as director of marketing and development, Investment Week reports. McGarry will report to John Howard-Smith, CEO of Psigma.
11/04/2013

Old Mutual GI recruits from Aviva Investors

P { margin-bottom: 0.08in; } Robert James is joining the British equity management team at Old Mutual Global Investors (OMGI) as a senior analyst, from Aviva Investors, where he had most recently been an analyst for pan-European financial sector stocks. In this way, says Julian Ide, CIO of OMGI, the British large caps team will be completed, following the recruitments of Richard Buxton, Errol Francis and Ed Meier.
11/04/2013

LGIM recruits chief financial officer from Aviva

P { margin-bottom: 0.08in; } Subject to the permission of the regulatory authorities, Siobhan Boylan is appointed as chief financial officer (CFO) at Legal & General Investment Management (LGIM, GBP406bn as of 31 December 2012), a position in which she will report to CEO Mark Zinkula. Boylan has served as CFO of Aviva North America in Chicago, where she was responsible for the finances of the Aviva group in the United States and Canada. From 2007 to 2011, she was CFO of Aviva Investors in London.

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