Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
10/07/2012
Fonds

Well Fargo lance six fonds supplémentaires au Royaume-Uni

L’américain Wells Fargo Asset Management, dont sept fonds d’un total de 2 milliards d’euros étaient déjà commercialisés en Europe, vient de faire enregistrer six fonds supplémentaire au Royaume-Uni, des compartiments de sa sicav luxembourgeoise, rapporte Fundweb.Il s’agit de deux produits émergents (Emerging Markets Equity II et Emerging Markets Income and Growth), de deux fonds focalisés sur les Etats-Unis (US Premier Growth et US Short-Term High Yield Bond) ainsi que deux fonds Global Opportunity et du Precious Metals.Pour ces produits, la souscription minimale est fixée à 1.000 livres. Les TFE s'échelonnent entre 1,60 et 2,25 %.
Fonds
10/07/2012
Fonds

John Duffield annonce ses trois premiers fonds

L’emblématique fondateur de New Star, John Duffield, vient de lancer son premier fonds et d’annoncer les deux suivants de sa nouvelle entreprise, Brompton Asset Management (lire Newsmanagers du 6 janvier). Le premier produit IFDS Brompton Global Income est un compartiment du Brompton Multi-Manager OEIC.Lancé le 2 juillet, il sera investi aussi bien au Royaume-Uni qu'à l'étranger, avec une proportion de 20 à 60 % d’actions. Ce fonds est destiné principalement aux particuliers ; il est géré par Gill Lakin, CIO et head of private clients, l’ancienne CIO de Thornhill Investment Management qui avait été head of UK Equity research chez Société Générale Asset Management.Par ailleurs, Brompton a l’intention de lancer deux autres fonds avant la fin septembre, IFDS Brompton Global Growth et IFDS Brompton Diversified, rapporte FundWeb.CaractéristiquesDénomination : IFDS Brompton Global Income FundCode Isin : GB00B7DC6589Droit d’entrée : 5 %Commission de gestion : 1,5 %Droit de garde : 0,25 %
Fonds
10/07/2012

Nordea coopère avec ICICI Pru

La filiale de gestion d’actifs de Nordea, Nordea Investment Management, a conclu un partenariat avec ICICI Prudentail Asset Management Company, filiale commune de la banque indienne ICICI et du britannique Prudential, rapporte IPE.L’accord prévoit qu’ICICI Pru AMC servira de conseiller pour les fonds Nordea focalisés sur l’Inde, qui représente environ 203 millions d’encours, tandis que Nordea IM mettra en avant de manière exclusive dans toute l’Europe son partenaire comme conseiller et sous-conseiller pour le marché indien dans toute sa gamme de produits destinés aux particuliers, aux banques privées et aux investisseurs institutionnels.
10/07/2012
Fonds

Henderson va fermer son fonds Inde en août

Henderson Global Investors a décidé selon Money Marketing de fermer son fonds actions indiennes le 3 août. En cause, les encours trop faibles (10,8 millions de livres) et l’incertitude quant à l'évolution de la fiscalité locale. La gestion du fonds était assurée par Tata Asset Management.
Fonds
10/07/2012
Fonds

JOHCM «mondialise» son fonds UK Opportunities

Le 29 juin, JO Hambro Capital Management (JOHCM) a lancé une version mondiale de son fonds d’actions UK Opportunities (900 millions de livres) lancé en novembre 2005. Le portefeuille du nouveau JOHCM Global Opportunities comportera entre 25 et 40 lignes. Il sera géré par Ben Leyland assisté de John Wood, ces deux gérants de portefeuille senior étant déjà co-gérants du UK Opportunities. Il seront rejoints par un analyste dédidé, Robert Lancastle.Le nouveau fonds n’aura pas de contrainte d’indice, même si sa performance sera mesurée à l’aune du MSCI AC World Total Return. Il pourra investir dans des actions de pays développés comme de pays émergents avec des lignes équipondérées entre 2,5 % et 4 % de l’encours.CaractéristiquesDénomination: JOHCM Global Opportunities FundCode Isin: IE00B4XXMP2Droit d’entrée 5 %Commission de gestion: 2,47 %Commission de performance: 15 % de la surperformance annuelle par rapport au MSCI AC Wolrd TR
Fonds
10/07/2012

Apollo Global Management recrute chez Barclays

Selon L’Agefi, Apollo Global Management a indiqué avoir nommé Martin Kelly, responsable du contrôle financier chez Barclays, comme son nouveau directeur financier. Martin Kelly, qui succèdera à Gene Donnelly qui a démissionné, prendra ses nouvelles fonctions dès le 1er octobre prochain.
10/07/2012

Une acquisition en Belgique pour Henderson Property

La société de gestion d’actifs immobiliers Henderson Property a annoncé avoir réalisé plusieurs signatures de baux dans le Parc de L’Hydrion, situé à Arlon en Belgique, pour le compte de son fonds Herald European Retail Property Fund, dont les encours sous gestion s’élèvent à 900 millions d’euros.Le parc de L’Hydrion est un retail park de 33 000 m², situé entre la frontière belge et luxembourgeoise. Construit en 2004 et acquis par le fonds Herald en janvier 2008, cet ensemble est composé de 42 lots entièrement loué.
10/07/2012

Cheyne Capital offers two new funds

Cheyne Capital is releasing two Irish-registered funds, a long/short credit fund and a real estate bond product.The first of these, Cheyne Global Credit Fund UCITS, deploys a long/short strategy for investment grade or crossover bonds in Europe and North America via direct investment in assets and derivatives. Leverage will be used to provide returns which are expected to exceed the Libor by 500 to 700 basis points.The second fund, Cheyne European Real Estate Bond Fund UCITS, will focus on senior real estate backed bonds. It is aiming for returns of 600-800 basis points, without the use of leverage.CharacteristicsName: Cheyne Global Credit Fund UCITS ISIN code: IE00B76XH336Management commission: 1%Performance commission: 10% with high watermarkName: Cheyne European Real Estate Bond Fund UCITSISIN code: IE00B4MBZ034Management commission: 1.25%Performance commission: 10% of performance exceeding the Libor (hurdle rate)
10/07/2012

BNY Mellon settles Sigma case

A class-action lawsuit brought against Composource Oklahoma before a US Federal court in Oklahoma has been settled out of court, as BNY Mellon has agreed to pay USD280m to bring an end to the procedure.The cause of the action is that several investors had accused the bank of investing imprudently, in the form of securities lending of collateral in Sigma Finance Corp, an investment fund with USD27bn in assets created by the London-based firm Gordian Knot. The special investment vehicle (SIV) went bankrupt in October 2008.
10/07/2012

Forex: AMF and ACP update list of unauthorised businesses

The French regulatory authorities, the Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel (ACP), have issued warnings to the public against the activities of several websites and entities which offer investors investments in forex. The two regulators have published a new, updated list of sites and entities recently identified as offering such products in France without a license. However, websites and entities which have complied with French law since the most recent list, published on 22 May this yer, have been removed.The updated list is as follows: www.4xp.com/fr / Forex Place Limited- www.astonforex.com / Marketrade Ltd- www.bforex.com / BFOREX Limited- www.finanzasforex.com / Evolution Market Group Inc- www.flameltrade.fr / Bull Trading Limited- www.forextrada.com / Forextrada- www.fxcast.com / Surplus Finance SA- www.gcitrading.com / GCI Financial Limited- www.ihforex.com / Investment House International- www.ikkotrader.com / Ikko Investments.Ltd- www.instaforex.com / InstaForex Companies Group- www.sunbirdfx.com / Sunbirdfx- www.trader369.com / IP International Service
10/07/2012

Managers increasingly convinced by equities

Aversion to risk is tending to fall for international fund managers. The most recent HSBC survey of outlooks by these profesionals has found that a considerably higher number of them are planning to invest in equities in third quarter 2012, compared with the previous quarter.The 14 fund managers participating in the study were AllianceBernstein, Allianz Global Investors, Baring Asset Management, BlackRock, Eastspring Investments, Fidelity Investment Management, Franklin Templeton Investments, HSBC Global Asset Management, Invesco Asset Management, Investec Asset Management, J.P. Morgan Asset Management, PIMCO, Schroders Investment Management and Société Générale.It is true that the notion that some bonds are not reaching overvalued levels is now stronger among managers. As a result, 30% of them have adopted a position which undervalues these assets, which none of them had done the previous quarter, and only 10% of managers surveyed continue to have a positive outlook on bonds. The number of managers who have neutral outlooks on money markets for third quarter 2012 has also increased (56%), reflecting a relatively positive de facto market outlook.Lastly, for bonds, although investors are continuing to seek returns in an environment of low interest rates, high yield bonds remain more favourable, with 80% of fund managers overweight on these assets.
10/07/2012

More losses for UCITS alternatives in June

According to the Swiss firm Alix Capital, the UCITS Alternative index in June shows losses of 0.23%, following losses of 1.36% in May, meaning that for first half as a whole, the sector shows losses of 0.33%. The UCITS funds of hedge funds index, for its part, has lost 0.77%, following losses of 1.25% in May, resulting in losses of 2.39% since the beginning of the year.All strategies showed losses in June (including CTA, which lost 1.69%), except bonds, which earned 0.30%, and have gained 2% in first half as a whole.
10/07/2012

Acquisition in Belgium for Henderson Property

The real estate asset management firm Henderson Property has announced that it has signed several leases in the Hydrion development in Arlon, Belgium, for its fund Herald European Retail Property Fnd, whose assets under management total EUR900m.The Hydrion development is a retail park with 33,000 square metres in area, located between the Belgian and Luxembourg borders. The development, completed in 2004 and acquired by the Herald fund in January 2008, is composed of 42 wholly-leased properties.
10/07/2012

Henderson to recruit for Credit Alpha team

Stephen Tharyan, head of credit at Henderson Global Investors, has announced at a presentation in Paris on Monday that for the moment, the exposure of the Credit Alpha absolute return long/short fund (GBP510m) to US high yield bonds is constrained due to a lack of specialists in this market, but that in the next three months, the British asset management firm may announce the recruitment of a team of one or more portfolio managers and three or four analysts dedicated to this segment.The Credit Alpha strategy, which uses 80% of derivatives, represents total assets of about GBP620m, also counting USD150m in a segregated account on the Lyxor platform. Henderson will apparently decide to soft close the fund when the strategy reached GBP800m, and a hard close at USD900m. However, these limited may be virtually doubled if planned recruitments for the team of US market specialists are realised.
10/07/2012

Nordea cooperates with ICICI Pru

The asset management affiliate of Nordea, Nordea Investment Management, has signed a partnership with ICICI Prudential Asset Management Company, a joint venture of the Indian bank ICICI and the British firm Prudential, IPE reports.Under the agreement, ICICI Pru AMC will as adviser to Nordea funds focused on India, which represent about EUR203m in assets, while Nordea IM will showcase ICICI Prudential AMC exclusively as its Indian adviser/sub-adviser of choice throughout its retail, private banking and institutional segments across Europe.
10/07/2012

Apollo Global Management recruits a head from Barclays

Agefi reports that Apollo Global Management has announced the appointment of Martin Kelly, head of financial controlling at Barclays, as its new chief financial controller. Kelly, who will succeed Gene Donnelly, who has resigned, will begin in his new role on 1 October this year.
10/07/2012

Wells Fargo launches six more funds in the United Kingdom

The US firm Wells Fargo Asset Management, with seven funds totalling EUR2bn already on sale in Europe, has registered six more funds fore sale in the United Kingdom, all sub-funds of its Luxembourg Sicav, Fundweb reports.These include two emerging market products (Emerging Markets Equity II and Emerging Markets Income and Growth), two funds focused on the US (US Premier Growth and US Short-Term High Yield Bond), and the Global Opportunity and Precious Metals funds.For these products, minimal subscription is set at GBP1,000. TER for the products ranges from 1.60% to 2.25%.
10/07/2012

John Duffield announces his first three funds

The emblematic founder of New Star, John Duffield, has launched his first fund and announced the next two from his new business, Brompton Asset Management (see Newsmanagers of 6 January). The first product, IFDS Brompton Global Income, is a sub-fund of the Brompton Multi-Manager OEIC.The fund, launched on 2 July, will invest in the United Kingdom as well as abroad, with a proportion of 30% to 60% equities. The fund is primarily aimed at retail investors; it is managed by Gill Lakin, CIO and head of private clients, former CIO of Thornhill Investment Management, who had been head of UK Equity research at Société Générale Asset Management.Brompton is also planning to launch two other funds by the end of September, IFDS Brompton Global Growth and IFDS Brompton Diversified, FundWeb reports.CharacteristicsName: IFDS Brompton Global Income FundISIN code: GB00B7DC6589Front-end fee: 5%Management commission: 1.5%Administrative charge: 0.25%
10/07/2012

JOHCM “globalizes” its UK Opportunities fund

On 29 June, JO Hambro Capital Management (JOHCM) launched a global version of its UK Opportunities equity fund (GBP900m in assets) launched in November 2005. The portfolio of the new JOHCM Global Opportunities fund will include 25 to 40 holdings. It will be managed by Ben Leyland, with the assistance of John Wood; these two senior portfolio managers were already co-managers of the UK Opportunities fund. They will be joined by a dedicated analyst, Robert Lancastle.The new fund will have no benchmark constraint, although performance will be measured by comparison with the MSCI AC World Total Return index. The all-cap fund may invest in equities from developed countries and emerging countries with equally-weighted positions ranging from 2.5% to 4% of assets.CharacteristicsName: JOHCM Global Opportunities FundISIN code: IE00B4XXMP2Front-end fee: 5%Management commission: 2.47%Performance commission: 15% of annual performance exceeding the MSCI AC World TR index
10/07/2012

Henderson to close its India fund in August

Money Marketing reports that Henderson Global Investors has decided to close its Indian equity fund on 3 August. The reason for the decision was low asset levels (GBP10.8m) and uncertainty about the future development of local tax regulations. Fund management had been provided by Tata Asset Management.
10/07/2012

Finance jobs: Recruitment opportunities in Shanghai

The morose economy is affecting recruitment in the finance sector. According to the most recent statistics from eFinancialCareers, the number of job offers for finance professionals has fallen 225 year on year as of 1 June 2012 in all areas where the website is present (19 markets in Europe, the United States, the Middle East, and Asia-Pacific). In such an environment, some job candidates will be willing to consider living abroad, particularly if moving to higher-growth countries, such as China.Despite appearances, jobs in finance on the Chinese markets are not being spared the job cuts decided on by head offices of the major foreign banks present in the country. But the Chinese government has declared its desire to make the country a top-calibre financial power. The objective is to make Shanghai a global financial centre by 2020, eFinancialCareers notes. To achieve that ambitious goal. Beijing in late 2011 announced a recruitment drive for the city of Shanghai, to hire 90,000 new personnel in five years for the finance sector. “Demand is proving particularly strong, particularly for commercial banks,” the recruitment site notes.In general, either in larger or smaller cities, “the best opportunities primarily concern the professions of risk management (market risk, credit risk or operational risk) and representatives to small and mid-sized businesses,” eFinancialCareers notes.
10/07/2012

Eaton Vance selectively interested in European markets

Pepijn Heins, head of business development Europe, has told Investment Europe that the US firm Eaton Vance, which has been present in London since 2001, will be focusing its sales efforts in Europe on the United Kingdom, Benelux (primarily the Netherlands), and Scandinavia. France and Germany will not be overlooked, but they are not core targets for the moment.The manager says the goal is to attract long-term investors, and marketing and sales efforts to improve the visibility of Eaton Vance in Euorpe, before concentrating on pension funds and fund selectors.Heins also states that his intention is not only to release more products in Europe, but also to bring more people from the Boston head office, both in order to improve relationships with European investors, and to allow some managers to be closer to the assets they invest in.
10/07/2012

Job openings down at Swiss banks

In the Swiss financial sector, the number of job offers as of the end of June was a toal of 15% lower than twelve months previously, according to statistics from Jobdirectory cited by finews.On the websites of 1,400 banks, insurers and other financial sector businesses (account commissioners, IT, advising, etc.) in Switzerland, there were 3,436 job openings as of 30 June.The UBS bank, for its part, is recruiting more personnel than a year ago. Since the beginning of the year, job openings at the Swiss bank rose 70% to 336 positions.
10/07/2012

Natixis GAM launches a US equity fund managed by Vaughan Nelson

The value equities team at Vaughan Nelson Investment Management have been selected by Natixis Global Asset Management to actively manage a concentrated fund of 20-40 positions on undervalued US equities of all cap sizes, aimed at long-term equity investors seeking to diversify a portfolio of tracker funds. The new product, launched on 29 June, is managed by Scott J. Weber, with the assistance of Chris Wallis, chairman and CEO of Vaughan Nelson, and Dennis Alff.CharacteristicsName: Vaughan Nelson Select FundAcronym: VNSAX (A share class)Front-end fee: 5.75%Management commission: 1.50%
10/07/2012

RothsInvest Asset Management embroiled in a financial scandal

Finews.ch reports that three employees at RothsInvest Asset Management have been arrested in Italy. They had convinced about 500 people to invest in an investment abroad, promising them returns of 10%. EUR250m are reported to have been channelled into the investment, according to Finews, which calls the case an “Italian Madoff.”The former head of the Swiss financial firm RothsInvest Asset Management, Robert Da Ponte, is also under investigation in Italy for severe infractions (money laundering, fraud, etc.). He is reported to have had some of the money being channelled to the investment scheme in his possession at the time of his arrest. He fled investigators in the month of May. The scandal also includes another element, this time political. Manuel Brandenberg, who is listed as the vice president of RothsInvest, is a member of the Swiss cantonal council, and is a politician of some standing in the Swiss SVP party.
10/07/2012

Coalition government decides against tax breaks for funds

According to reports in Financial Times Deutschland, the German governing coalition has called off plans to bring taxation of unit-linked retirement savings policies into line with taxation of life insurance policies as part of a proposed law to improve retirement planning, which would have come into force in early 2013. The news will be viewed as a defeat for the investment fund sector and for its professional association, the BVI.
10/07/2012

Despite net subscriptions, Swiss assets under management down in May

As of the end of May, assets in Swiss funds fell by CHF3.98bn in one month, to CHF664.35bn, despite net subscriptions of nearly CHF1.03bn, according to Swiss Fund Data.Equity funds in particular have seen net outflows of CHF534.9m, and assets have contracted by CHF7.93bn. However, bond an money market funds have seen net inflows of CHF1.13bn nd over CHF1.18bn, while assets have increased by CHF3.36bn and CHF3.37bn, to CHF217.81bn and CHF86.32bn.The two heavyweights in the sector have posted declines in their assets, to CHF157.15bn from CHF158.88bn for UBS and CHF108.92bn compared with CHF110.46n for Credit Suisse. However, the third-largest actor, Pictet, has posted an increase in assets under management to CHF50.1bn, compared with CHF48.9bn.
10/07/2012

SAC Capital enters reinsurance market

The hedge fund management firm SAC Capital, which is owned by Steve Cohen, has launched SAC Re Ltd in Bermuda. The assets of the reinsurance company will be managed by SAC Capital, the Wall Street Journal reports. The new company began its activities on Monday, after raising USD500m in capital from Cohen, the private equity investor Capital Z Partners, and other investors, including high net worth private individuals. Fundraising was opened in late 2011 and closed last weekend.

Sujets d'actualité

Tous les sujets