Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
26/06/2012

Le fondateur de Billabong ouvert aux propositions de rachat

Le fondateur et principal actionnaire (15% du capital) du groupe australien d’équipement pour les sports de glisse, Gordon Merchant, est selon l’Australian Financial Review disposé à recevoir de nouvelles offres de rachat, après avoir rejeté une proposition de TPG de 3,3 dollars australiens par titre en début d’année. Le titre a clôturé à 0,925 dollar hier à Sydney.
26/06/2012

Blackstone et BC Partners visent Iglo

Les deux sociétés de private equity envisagent de relever leur offre sur le groupe de surgelés après que leur concurrent Permira a rejeté la semaine dernière une proposition de 2,5 milliards d’euros. Permira a acquis Iglo en 2006 auprès d’Unilever pour 1,7 milliard et a engagé Credit Suisse pour mener une cession. Les autres prétendants ont jeté l’éponge.
26/06/2012

L’alliance sino-russe prend corps

ICBC, la plus grosse banque chinoise cotée, a accordé son premier financement de projet de construction d’infrastructures en Russie pour un montant d’un milliard de dollars, selon le quotidien qui cite des sources bancaires et de conseils proches du dossier. L’emprunteur est une coentreprise formée entre Huadian et une société énergétique russe, Territorial Generation.
26/06/2012

Le soutien à l'Espagne reste à préciser

L’Espagne a demandé à l’Union Européenne une aide pour recapitaliser ses banques mais reste à connaître le mécanisme et les conditions de ce soutien.
26/06/2012

George Soros estime que l’Allemagne doit changer d’attitude

Dans un entretien accordé au quotidien, le financier américain estime que Berlin doit en finir avec sa politique du «je ne peux pas» envers une union bancaire et budgétaire de l’Union européenne, faute de quoi elle risque de devenir «le centre d’un empire» responsable de l’effondrement de la zone euro. Le sommet européen de jeudi et vendredi risque sinon de se transformer en «fiasco».
26/06/2012

ESMA launches a consultation on OTC derivatives

The European Securities Markets Authority (ESMA) on 25 June announced that it is launching a consultation on technical standards for regulations of European market infrastructures (EMIR), which aim to introduce higher levels of transparency and improved risk management in the over-the-counter derivatives market.The consultation will remain open until 5 August, and the final proposal of technical standards is slated to be presented to the European Commission by 30 September 2012.
26/06/2012

Qatar sovereign fund plans massive investment in China

The Financial Times reports that the Qatar sovereign fund is seeking a license from the Chinese government to invest USD5bn in China. The license limit is currently USD1bn, but China is seeking to increase that amount to finance further opening of the country to foreign investors.
26/06/2012

Van Eck releases 5 more ETFs in Mexico

The US firm Van Eck Global has announced that it has added five ETFs of the Market Vectors range already listed on NYSE Arca to the list of ETFs available to qualified investors in Mexico, bringing the total number of tracker funds available in Mexico to 25. The funds are the Market Vectors Oil Services ETF (acronym: OIH), with assets of over USD1.07bn, the Market Vectors Semiconductor ETF (SMH) with USD362m, and Market Vectors Pharmaceutical ETF (PPH), with USD226m. The other two products are the Market Vectors Biotech ETF (BBH) with USD102m, and the Market Vectors Retail ETF (RTH) with USD30m.The ETF Market Vectors range has total assets of USD25.1bn.
26/06/2012

Syz AM converts four funds reserved for institutional investors into FCP vehicles

The SYZ & CO group o 25 June announced the launch of four Swiss-registered investment funds (FCP) with fixed revenue, denominated in Swiss francs and euros. The funds, SYZ AM (CH) Liquidity Management–CHF, SYZ AM (CH) Liquidity Management–EUR, SYZ AM (CH) Track–CHF Bonds et SYZ AM (CH) Track–Swiss Government Bonds, managed by SYZ Asset Management, have already been in existence for several years, but they had previously been reserved for institutional investors. Due to their good performance, the funds have been made available to retail investors, in order to meet rising demand on the part of investors for fixed revenue investments in Swiss francs. They have total assets under management of CHF3.5bn. Administrative information Syz AM (CH) Track – CHF Bonds CH0020950405 Syz AM (CH) Track – Government Bonds CH0016216753 Syz AM (CH) Liquidity Management – CHF CH0025074391 Syz AM (CH) Liquidity Management – EUR CH0123544360
26/06/2012

March Gestión registers a Spanish hedge fund

Following the March Patrimonio Renta, March Gestión de Fondos on 22 June registered the March Patrimonio Renta 2 fund with the CNMV. The new product is also a Spanish hedge fund (FIL) which invests in savings deposits or debt with a remaining time to maturity of one year from EU or OECD credit institutes which are subject to prudential standards, and in public or private money market instruments, so long as they are liquid. The portfolio may also invest in sovereign or private bonds, but cannot invest in shares in other OPCVM funds, and will not be exposed to currency risks.The fund was created on 17 May.CharacteristicsName: March Patrimonio Renta 2, FILISIN code: ES0160934008Hurdle rate: Euribor + 50 basis pointsManagement commission: 0.6%Withdrawal penalty: 0.50% from 15 July 2012 to 15 October 2012
26/06/2012

Swiss & Global preparing actively-managed equity ETFs

On 29 June, Swiss & Global Asset Management is planning to launch four funds in the new Julius Bär Smart Equity ETF range on the Xetra electronic trading platform from Deutsche Börse, which will be the first actively-managed ETFs to be listed in Frankfurt, Fondsprofessionell reports.Each of the UCITS IV-compliant funds will invest in up to 200 holdings, without using derivatives; securities lending is also forbidden. The shares will be selected from among equities of the MSCI benchmark, using both a systematic trend identification technique and a systematic value type strategy.The Luxembourg-registered Julius Bär Smart Equities ETFs, which are managed by a team led by Stefan Fröhlich, have a sales license for Germany, Austria, Liechtenstein, Luxembourg and the United Kingdom. There are plans to register the products in other jurisdictions.
26/06/2012

Pimco lists an ETF of German govies in Frankfurt

Since 25 June, the Pimco German Government Bond Index Source ETF is available for trading on the XTF segment of the Xetra electronic trading platform from Deutsche Börse. It replicates the Markit iBoxx € Germany Index, which focuses on German federal bonds issued in euros, with a remaining time to maturity of at least one year, from issue of over EUR2bn. The addition brings the number of ETFs listed in Frankfurt to 985.CharacteristicsName: PIMCO German Government Bond Index Source ETFISIN code: IE00B87LHK09TER: 0.15%
26/06/2012

Madoff: Ezra Merkin to pay USD410m

J. Ezra Merkin, former chairman of GMAC Financial Services, has agreed to pay USD410m to settle a lawsuit filed by the New York attorney general, accusing him of channeling billions of dollars belonging to his clients, without their knowledge, to the business of Bernard Madoff, via Merkin’s firm, Gabriel Capital Corp, the Wall Street Journal reports. The settlement does not apply to a lawsuit filed by Irving Picard, court-appointed trustee for the business interests of Madoff.
26/06/2012

Turgot AM launches a French smidcaps fund

Turgot Asset Management has announced the launch of Turgot Smidcaps France. The equity fund, eligible for investment from PEA contracts, aims to provide average performance of 7% over the long term. It is managed by Marion Casal, and is primarily exposed to French “growth” small and midcaps, whose capitalisation at the time of the investment is under EUR5bn. The FCP may invest in futures and options traded on regulated markets, to hedge, expose or overexpose the portfolio (up to 110%) to equity or fixed income risk. Characteristics ISIN code: FR0011152404 Front-end fee: maximum 2% Withdrawal penalty: none Management fees: 2.40% per year
26/06/2012

JP Morgan closes Asia Equity Fund

JP Morgan will be liquidating its Asia Equity Fund, with total assets of USD481m. Mutual Fund Wire reports that the product has recently undergone significant redemptions. As of the end of May, it has USD755m in assets.
26/06/2012

Columbia launches a risk allocation fund

The US firm Columbia Management (USD344bn in assets), like the British firm Threadneedle an affiliate of Ameriprise Financial, has announced the launch of the open-ended Columbia Risk Allocation Fund (acronym: CRAAX for A-class shares), which functions on the basis of an equally-weighted exposure to risk in various asset classes (equities, bonds, and inflation-hedging instruments).The objective is to avoid a concentration of risk in a single category of supports, while generating attractive performance over the long term, with lower risk than for a traditional diversified fund.The fund is managed by Todd White, with the assistance of Anwiti Bahugna, Fred Copper, Kent Peterson and Beth Vanney as co-managers.Maximum front-end fee is 5.75%, and management commission is 1% for A-class shares.
26/06/2012

Global Funds gives a makeover to its S&P/TSX Venture 30 Canada ETF

The New York-based firm Global X Funds on 21 June decided to modify the underlying index, as well as the name, acronym, total expense ratio and investment objective for the Global X S&P/TSX Venture 30 Canada ETF, which is becoming the Global X Junior Miners ETF.The index replicated by the fund is now the Solactive Junior Miners, which tracks the evolution of shares in mining sector small caps worldwide, while the index used previously, the S&P/TSX Venture 30 Index, was focused on Canadian small caps in the mining and energy sectors. The new index has 100 shares, compared with 30 for the previous one.The acronym of the fund on NYSE Arca becomes JUNR, replacing TSXV, and the TER is being lowered to 0.69% from 0.75%.
26/06/2012

SGSS launches a UCITS product range aimed at asset management firms

Société Générale Securities Services (SGSS) is launching a “key-ready” range to allow asset management firms and third-party managers who do not have a Luxembourg UCITS passport to create, manage and release UCITS-compliant funds. The UCITS label will allow the asset management firms to release UCITS funds in all member countries of the European Union. It also offers guarantees to investors in terms of transparency, risk and liquidity management. The creation of the funds will be undertaken by Société Générale Private Wealth Management, an asset management firm based in Luxembourg.
26/06/2012

Peter Kraus elected to a five-year terms as chairman and CEO of AllianceBernstein

AllianceBernstein L.P. and AllianceBernstein Holding L.P. have jointly announced that Peter S. Kraus has been elected to another five-year term as chairman and CEO, from January 2014. He was initially elected in December 2008, until December 2013. The new term as chairman and CEO is largely similar to the current one. In his new role, Kraus will be paid a total of over 2.72 million shares in AllianceBernstein. His annual salary will remain at USD275,000, and he will receive no cash bonuses.
26/06/2012

Jean-Baptiste de Franssu appointed as director at Carmignac Gestion

Carmignac Gestion has announced the appointment of two independent directors: Jean-Baptiste de Franssu and David Loggia.De Franssu, currently chairman of the INCIPIT company, is the former president of the European Fund and Asset Management Association (EFAMA), and until October 2011 served as CEO of Invesco Europe. “We are pleased that Jean-Baptiste de Franssu will be bringing his vision of the industry and its pan-European challenges, both in terms of regulations and the long-term outlooks for promoting open architecture and independent distribution, to our board of directors,” a statement from Carmignac Gestion says.Loggia is a former manager at Carmignac Gestion. He joined the French asset management firm as an analyst for European equities in 2003, and then served as co-manager of the Carmignac Grande Europe fund from 2005 to May 2011 (see Newsmanagers of 2 September 2011). His arrival on the board of directors “is a sign of the long-term engagement of our manager shareholders to the firm,” Carmignac Gestion says.Carmignac Gestion, which has been paying particularly close attention to its international development, says that the objective is to strengthen governance on its board of directors, “with the presence of several independent administrators with long experience in the asset management or wealth advising sector,” the Paris-based firm says.
26/06/2012

Vanguard CIO to retire at the end of December

George U. “Gus” Sauter, the managing director and chief investment officer at Vanguard, has announced that he will be retiring on 31 December 2012. The global investment management groups led by Sauter have a current total of USD1.6trn in assets, out of a total of USD2.1trn managed by Vanguard. Mortimer J. “Tim” Buckley, managing director, will take over as CIO following the departure of Sauter.

Sujets d'actualité

Tous les sujets