Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
10/08/2012

Asia Alternatives plans to invest in Chinese private equity

The private equity fund of fund manager Asia Alternatives is planning to invest in the fast-growing Chinese private equity fund market, with new capital totalling USD1.5bn, Asian Investor reports. Asia Alternatives has raised slightly over USD900m for a fund launched in mid-2011, Asia Alternatives Capital Partners III, well beyond the fund’s initial objective of USD800m. The firm has also raised USD600m via segregated accounts for large private investors. More than 75% of subscribers to the new fund are clients of the two previous funds, largely North American institutional investors. According to documents from the California pension fund CalPERS, one of the investors in the Asia Alternatives fund, returns on the second fund raised by the firm (USD950m) totalled 21.8% as of the end of December 2011.
10/08/2012

Russell Investments plans to launch two multi-asset class products

As an addition to its product range on the British market, Russell Investments is planning to release a retail version of the Multi Asset Growth Strategy fund, whose assets currently total about GBP760m, by the end of the year, Investment Week reports. The fund will aim to earn returns similar to those of equities, but with a significant reduction in volatility. Russell Investments is also working on a multi-asset class income product.
10/08/2012

Assets under management stable at Alliance Bernstein

Assets under management at Alliance Bernstein held stable in July at USD407bn as of 31 July, according to initial estimates from the firm. Alliance Bernstein explains in a statement that positive market effects and net inflows to the retail unit were offset by redemptions to private clients and institutional investors.
10/08/2012

Erste Group acquires BNP Paribas wealth management activities in Hungary

The largest Austrian banking group, Erste Bank, on 9 August announced that it is acquiring the wealth management division of the French bank BNP Paribas, for an acquisition price which remains confidential. Erste Bank Hungary, the Hungarian affiliate of the Viennese bank, has acquired the Wealth Management division of BNP Paribas in Hungary, which managed the wealth of 400 clients, and which had total assets estimated at about EUR216m (HUF60bn). Erste Bank Hungary thus strengthens its position on the private banking services market in Hungary. With this acquisition, the market share for the bank in the private banking market will increase from 9% to 12%, it says.
10/08/2012

Société Générale sells TCW to Carlyle

Société Générale on 9 August announced that it has entered into a definitive agreement to sell the whole of its stake in TCW to the Carlyle Group and TCW management. Following this transaction, the TCW management team and employees will significantly (up to 40%) increase their ownership stake in TCW. The transaction, which will see Amundi sell its 20% holding in the company, is subject to receipt of all required regulatory approvals. The financial terms of the agreement were not disclosed, but according to some estimates, the total sale price may be about USD700m. Carlyle has recently appeared to be the best-positioned firm to acquire the US asset management firm, but when its quarterly results were released in early August, the chairman and CEO of Société Générale, Frédéric Oudéa, dodged the question, stating that he would not comment on what he considered a rumour. Although Oudéa then said there were no urgent plans to sell the assets, the transaction announced last night represents a new step in the implementation of Societe Generale’s transformation plan to focus its resources on its core activities and simplify its set up. TCW is a top tier US asset management franchise with approximately 130 billion USD of assets under management. It has enjoyed a positive growth trend over the past two years, capitalising on the successful integration of MetWest and its highly rated investment products. The increase in the pro forma Basel III Core Tier 1 ratio for the group as a result of the sale is estimated at +13 bps upon closing, which is expected to take place during the first quarter of 2013.
10/08/2012

Further decline in assets in Spanish funds

Funds from Spanish asset management firms in July underwent a net outflow of EUR1.3bn, or 0.95% of their assets compared with the end of June, according to estimates from VDOS. Assets under management as of the end of July totalled EUR126.544bn. The funds in the greatest demand were the BBVA Solidez XVIII BP, which posted net inflows of EUR152m, the Bankia Garantizado Rentas 3 (EUR85m) and the Rural 2012 Garantia, with net subscriptions totalling EUR79m.
10/08/2012

Uncertainty over AIFM directive

There is considerable frustration among fund managers, who are still awaiting the final revision of the AIFM directive, COOConnect reports. According to one fund administrator, it is currently “absolutely impossible” to predict what the final rules will be. The proposals of the European Commission, which are expected to be initially published in July 2012, will only be released in autumn. The unertainty is exacerbated by the fact that the Commission in April rejected the recommendations of the European Securities Markets Authority (ESMA). The top concern in the sector is the responsibility of the depository, according to a survey by IMS.
10/08/2012

Macro strategies power hedge fund performance in July

Hedge funds earned gains in July for the second consecutive months, driven by macro strategies. The HFRI Macro: Systematic Diversified index gained 2.8%, according to statistics from HFR. The HFRI Fund Weighted Composide index gained 1.1%, posting its strongest returns since February, with positive contributions from macro strategies, relative value arbitrage, equity hedge and event-driven. The HFRI emerging markets index shows its best results since February this year, with gains of 1.1%. The HFRI fund of fund index, for its part, has gained 0.7%, following three consecutive months of losses.
10/08/2012

HSBC merges fund ranges

HSBC Global Asset Management has merged its International Selection range of multi-asset class funds with the World Selection range from the bank, Investment Week reports. The International Select Cautious, Adventurous and Balanced funds, which represent total assets of USD300m, have been merged into the Luxembourg World Selection range (USD1.5bn) as of the end of June. The decision is said to have been due to similar management styles for the two ranges.
10/08/2012

Private equity remains on the menu for investors

Despite ongoing uncertainty about the development of the financial markets, investors are not planning to drop out of private equity. 44% say they would like to invest capital in private equity by the end of the year, according to the most recent survey by Preqin, and 90% say they want to maintain or increase their allocations to this asset class in the longer term. This may be due to the fact that 79% of investors estimate that the performances of their engagements in private equity are equal to or higher than their expectations.
10/08/2012

Switzerland's Gottex granted clearance to acquire Penjing AM

Gottex has received permission from the Hong Kong regulatory authorities to acquire the Asian firm Penjing Asset Management (Penjing), according to a press release issued on 9 August by the hedge fund investment specialist. Penjing is an alternative wealth manager, oriented primarily to the Asian market. The acquisition will offer strategic advantages, and will support and extend the expansion of Gottex in Asia. Ronnie Wu, founder and CEO of Penjing, will join Gottex as “senior executive in Asia.” An extraordinary general shareholders’ meeting has also approved a share repurchase programme, for us to 1.75 million shares, “at a price between -10% and +10% of the average market price on the Six Swiss Exchange on the most recent trading day previous to the acquisition,” Gottex explains.
10/08/2012

AdvisorShare launches an alternative ETF

AdvisorShares, an actively-managed ETF provider, has launched the QAM Equity Hedge ETF, Hedge Week reports. The fund, advised by Commerce Asset Management, is based on an actively-managed long/short strategy.
10/08/2012

New manager for Janus US All Cap Growth fund

Following the departure of John Eisinger from Janus, Brian Demain is taking over management of the JCF Janus US All Cap Growth Fund. Demain, who has worked at Janus since 1999, currently manages the Janus Enterprise Fund and the Mid Cap Growth strategy. Meanwhile, Janus has also appointed Hiroshi Yoh as co-manager of the JCF Janus Emerging Markets fund, where he joins a team including Wahid Chammas and Matt Hochstetler.
10/08/2012

Strong growth in alternative UCITS assets under administration at BNY Mellon

UCITS alternative assets under administration by the Alternative Investment Services (AIS) unit of BNY Mellon have risen 70% in one year, Investment Europe reports. Assets in alternative UCITS funds administered by the AIS unit increased by USD11bn between January 2011 and January 2012, to a total of USD26.7bn. Since 2008, assets under administration overall at the AIS unit have more than doubled, to a total of about USD525bn.
10/08/2012

A growing number of S&P 500 companies distribute dividends

The number of S&P 500 companies that pay dividends now totals 402, the highest level sine 1999, according to S&P Dow Jones Indices, the Wall Street/CFO Journal reports. Many companies have reacted to the improvement in the markets, the index provider claims, adding that total dividends are also expected to set all-time records.
10/08/2012

Fund manager leaves Sparinvest

Ann Andresen has left Sparinvest, after five years as a manager, Citywire Global reveals. She had been the manager of four funds of Danish equities. The products have been taken over by Claus Caroe, head of fixed income management, Sparinvest states.
10/08/2012

Investec doubles exposure to corporate bonds

The head of multi-management at Investec, Philip Saunders, has doubled his exposure to corporate bonds rated investment grade for the Investec Multi Asset Protector fund, whose assets under management total GBP390m, Money Marketing reports. In the past two months, exposure of the fund to corporate bonds has increased from 7% to 15%. Saunders estimates that corporate bonds will behave like defensive assets, and will earn higher returns than cash.
10/08/2012

Assets up but profits down at Aviva Investors

Aviva Investors‘ fund management operating profit fell to GBP34 million (HY11: GBP39 million). Funds managed by Aviva Investors were up 4% to GBP274 billion (FY11: GBP263 billion), with assets managed for external clients increasing 6% to GBP55 billion (FY11:GBP52 billion).
10/08/2012

Départ d’une gérante de Sparinvest

Ann Andresen a quitté Sparinvest après y avoir passé cinq ans en tant que gérante, révèle Citywire Global. Elle gérait quatre fonds d’obligations danoises. Ces produits ont été repris par Claus Caroe, le responsable de la gestion taux, a indiqué Sparinvest.
10/08/2012
Fonds

HSBC fusionne des gammes de fonds

HSBC Global Asset Management a fusionné sa gamme de fonds multi-classes d’actifs International Selection avec l’offre World Selection de la banque, rapporte Investment Week. Ainsi, les fonds International Select Cautious, Adventurous et Balanced, représentant un total de 300 millions de dollars, ont été regroupés dans la gamme luxembourgeoise World Selection (1,5 milliard de dollars) fin juin. La décision aurait été prise en raison des styles de gestion similaires de deux gammes.
Fonds
10/08/2012
Fonds

Les stratégies macro tirent les performances des hedge funds en juillet

Les hedge funds ont réalisé en juillet des gains pour le deuxième mois consécutif, tirés par les stratégies macro. L’indice HFRI Macro: Systematic Diversified a enregistré un gain de 2,8%, selon des statistiques communiquées par HFR.L’indice HFRI Fund Weighted Composite a progressé de 1,1%, enregistrant ainsi sa plus forte performance depuis février, avec des contributions positives des stratégies macro, relative value arbitrage, equity hedge et event driven. L’indice HFRI des marchés émergents affiche son meilleur résultat depuis février dernier avec un gain de 1,1%. L’indice HFRI des fonds de fonds a pour sa part progressé de 0,7% après trois mois consécutifs de baisses.
Fonds
10/08/2012

Aviva Investors augmente ses encours mais réduit son bénéfice

Au premier semestre 2012, Aviva Investors a accusé une baisse de son bénéfice d’exploitation à 34 millions de livres contre 39 millions sur les six premiers mois de 2011. Ce repli s’explique par une baisse des frais de performance et la vente d’Aviva Investors Australia, que la hausse des revenus issus des frais de gestion et la baisse des dépenses n’auront pas suffi à compenser, commente le groupe dans ses résultats semestriels.Aviva Investors a vu ses encours progresser de 4 % à 274 milliards de livres. La part des encours gérés pour le compte de clients externes a augmenté de 6 % à 55 milliards de livres.
10/08/2012
Fonds

Russell Investments veut lancer deux produits multi-classes d'actifs

Afin de renforcer son offre sur le marché britannique, Russell Investments envisage d’ici à la fin de l’année une version retail du fonds Multi Asset Growth Strategy dont les actifs s'élèvent actuellement à quelque 760 millions de livres, rapporte Investment week.Ce fonds se propose de dégager des rendements similaires à ceux des actions mais avec une forte réduction de la volatilité. Russell Investments travaille également sur un produit de revenu multi-classes d’actifs.
Fonds
10/08/2012

BNY Mellon recrute un responsable de la stratégie d’investissement Asie-Pacifique

BNY Mellon vient de recruter Paul Schulte, de la China Construction Bank International, comme responsable de la stratégie d’investissement Asie-Pacifique, un poste nouvellement créé. Il aura pour mission de faire de la recherche sur les tendances d’investissement, l’activité de marché et l’économie dans la région.Basé à Hong Kong, Paul Schulte sera placé sous la direction d’Alan Harden, CEO de l’activité de gestion d’actifs de BNY Mellon pour la région Asie-Pacifique, et Jack Malvey, chef stratégiste pour les marchés mondiaux, basé à New York. Il rejoint par ailleurs le comité exécutiv de gestion d’actifs Asie-Pacifique de BNY Mellon et le comité opérationnel de BNY Mellon pour la région. Chez CCBI, Paul Schulte était responsable mondial de la stratégie financière.
10/08/2012
Gestion d'actifs

Aviva Vie s'intéresse aux infrastructures, aux créances bancaires et aux émissions obligataires des entreprises non cotées

Pascal Heurtault, responsable des investissements d’Aviva Investors, qui pilote le fonds général des contrats d’Aviva Vie et celui de l’AFER dans un article paru dans La Tribune : Les Etats ont de moins en moins d’argent pour financer leurs grands projets. Nous allons donc souscrire à des produits liés au financement d’infrastructures, qui offrent un rendement bien supérieur à celui que vous pouvez obtenir avec des obligations de l’Etat français. En outre, les banques sont dans une démarche de deleveraging et commencent à recycler leurs créances auprès des sociétés d’assurance. En souscrivant à ce type d’investissement, le taux de rendement est également beaucoup plus attractif que celui des Etats core de la zone Euro. Il y a enfin un besoin de financement du côté des entreprises non notées, qui ont de plus en plus de difficultés à se financer via le système bancaire traditionnel et qui vont de plus en plus se financer via des émissions obligataires. C’est un marché intéressant avec, là aussi, des rémunérations attrayantes. Concernant les entreprises non notées, nos analystes crédit sont d’une aide précieuse sur ce sujet pour évaluer la signature d’une société. Sur le non noté, nous allons par conséquent être capable de porter un regard critique sur un club deal proposé par une institution.
Gestion d'actifs
10/08/2012

Forte baisse des volumes en juillet pour Nyse Euronext

Nyse Euronext a connu une nette baisse de ses volumes de transactions en juillet. Sur les dérivés, les échanges ont atteint en moyenne 7 millions de contrats quotidiens, en baisse de 12% sur un an et de 15,8% par rapport à juin. En Europe, sur ce compartiment, la baisse sur un an ressort à 6,8%. Elle est de 15,8% aux Etats-Unis. Concernant les marchés au comptant, les volumes quotidiens ont reculé de 10,8% à 1,5 million de transactions sur un an et de 12,3% sur un mois.
10/08/2012

La Russie n’est pas épargnée par la crise

L’indicateur composite pour la Russie, publié hier par l’OCDE, accuse ainsi une nette dégradation à 99,5 en juin contre 100,3 un mois plus tôt. Un niveau qui tombe ainsi sous le seuil de 100 correspondant à la tendance de long terme de l’activité économique. Pour l’ensemble de la zone OCDE, l’indicateur recule plus modérément de 0,1 point à 100,3.
10/08/2012

Déficit commercial record pour le Royaume-Uni

Le déficit commercial britannique a atteint un nouveau record en juin de 4,308 milliards de livres (5,465 milliards d’euros), après 2,718 milliards de livres de déficit en mai. Les exportations de biens ont vu leurs volumes diminuer de 7,4% en juin et leur valeur totale, de 23,453 milliards de livres, ressort à son plus bas niveau depuis novembre 2010.
10/08/2012

Recul des inscriptions au chômage aux Etats-Unis

Les inscriptions hebdomadaires au chômage ont diminué aux Etats-Unis lors de la semaine qui s’est achevée le 4 août, à 361.000 contre 367.000 (révisé) la semaine précédente et 370.000 attendues par le consensus Reuters. Le nombre de personnes percevant régulièrement des indemnités s’est élevé à 3,332 millions lors de la semaine du 28 juillet contre 3,272 millions la semaine précédente.

Sujets d'actualité

Tous les sujets