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10/04/2012

Regulatory approval for two funds from Rothschild & Cie

Das Investment reports that the Swiss regulator has granted sales licences for Switzerland to the R2016 and R Focus Corporate 2016 funds from Rothschild & Cie Gestion. A similar license has been applied for from the German BaFin.
10/04/2012

Another setback for DWS hydroelectric power fund

As of the end of February, no subscribers had signed up to the closed-end fund DWS Access Wasserkraft (see Newsmanagers of 3 November 2011), which leaves the asset management firm of the Deutsche Bank group unable to comply with a new deadline of 20 March (the deadline hd previously been set at the end of November, and then at the end of December) to publish a complementary prospectus stating that the start-up of the fund is postponed by four months until 20 July, Fonds Professionell reports. If by this new date, DWS is still unable to provide at least EUR25m in capital, the legal structure of the fund will be dissolved. Management will be outsourced to the Austrian firm enso hydro, which has begun to construct a portfolio with small Norwegian firms.
10/04/2012

Olivier Maestracci joins Neuflize OBC

Neuflize OBC has recruited Olivier Maestracci as deputy director of institutional clients and external distribution. Maestracci, formerly of Invesco, who has also served a brief stint at Financière de l’Echiquier, will join Robert Vela, also deputy director, with whom he worked for four years at Europerformance in the early years of the last decade.
10/04/2012

Touchstone acquires 16 funds from FTAM

Touchstone Investments has announced that it has acquired 16 funds from Fifth Third Asset Management (FTAM), which had been part of the mutual fund product range from the US firm. Assets in the funds will be integrated into Touchstone funds in third quarter, once the transaction is completed.
10/04/2012

Julius Baer recruits in Hamburg

The Hamburg branch of Bank Juilus Baer Europe (opened in 2006) has moved into new, larger offices, and its director, Sven Nykamp, has announced that six new employees have been recruited from 1 April, finews reports. Further recruitments are planned in the mid-term if business volume continues to increase at the same pace.
10/04/2012

HSBC Germany: depository uni9t has doubled in size in 5 years

As of the end of March, the volume of assets under administration by HSBC in Germany for the first time topped EUR70bn, which means that assets have more than doubled in five years, a press statement says, adding that this growth has been entirely organic, Fonds Professionell reports. Christiane Lindenschmidt, director of HSBC Securities Services Germany, is planning to make the firm one of the winners from the inevitable concentration process soon to come on the German depository banking market, which has unaccountably not yet begun.
10/04/2012

Aegon licensed to manage pension funds in Spain

The Boletín Oficial del Estado (Official Gazette) has published a decision by the Director general of insurance and pension funds (DGSFP) authorising Aegon España to manage pension funds in Spain, Funds People reports.
10/04/2012

Nikko AM joins ICI Global association

The US asset management firm Nikko Asset Management has joined the international organisation ICI Global, a recent emanation of the US financial asset management association ICI. Nikko AM becomes the first Asian firm in the asset management sector to join ICI Global. The members of the ICI association and its affiliated members represent total assets under management of at least USD16.380trn in UCITS and mutual funds.
10/04/2012

Azimut records inflows in a challenging market

The Italian asset management firm Azimut has posted net inflows in March of EUR308.1m, while the Italian fund industry as a whole shows outflows, Il Sole – 24 Ore reports. Since the beginning of the year, inflows total EUR609.3m. The Italian firm has been successful with its renminbi fund and its cat bond fund, as well as with its growth abroad.
10/04/2012

Arrow Investment Advisors recruits an ETF specialist

Arrow Investment Advisors has announced the recruitment of Joseph Cunningham, an ETF specialist, as director of capital markets at the US firm. He had previously worked at ProShares Advisors, as Director of Institutional ETF Order Flow, Mutual Fund Wire reports.
10/04/2012

Hedge fund closures and openings accelerate

The number of hedge fund closures appears to be on the decline in recent years, Hedge Fund Research reports. Despite a slight increase in 2011 to 755 from 743 in 2010, the research firm points out that this level remains far below an all-time peak in 2008, at 1,471 closures. HFR also points out that 1,113 funds were created last year, up from 935 in 2010, compared with a record of 1,197 in 2007, Agefi notes.
10/04/2012

SG Alpha launches a fund dedicated to Ukraine

The hedge fund SG Alpha, specialised in emerging Europe, has launched a hedge fund dedicated to Ukraine, HFM Week reports. The SG Alpha Ukraine Fund started up on 2 April with capital of USD10m from European institutional investors. The firm hopes to reach USD100m in two years. The founder of SG Alpha, Steffen Gruschka (formerly of Deutsche Bank) has been investing in Ukraine for over 10 years. The new fund will provide a way to benefit from highly favourable share prices and a potential free trade agreement between Ukraine and the European Union.
10/04/2012

Jefferies sets up shop in Dubai

Jefferies has announced the opening of an office in the Dubai International Financal Centre (DIFC). George Azar will be the managing director and senior executive officer of the Dubai office. Azar previously worked at Union Bancaire Privée, where he was CEO of the Qatar office and managing director for Dubai. Also from Union Bancaire Privée, Imrad Ahmed joins Jefferies as senior vice president and adviser of the wealth management unit at Jefferies.
10/04/2012

BNY Mellon recruits a head of strategy for Asia-Pacific

BNY Mellon has appointed Jane Caire to the newly created role of head of strategy & development, product & marketing for investment management in the Asia-Pacific region. Based in Hong Kong, she will report to Alan Harden, Asia-Pacific CEO of BNY Mellon Investment Management.Jane Caire joins BNY Mellon from ING Investment Management where she was most recently head of business management.
10/04/2012

question

Pas de doute pour les lecteurs, l’Espagne va devenir le prochain épicentre de la crise de la dette souveraine en zone euro. Les marchés, qui ont fait remonter les rendements à 10 ans espagnols à 5,71%, en sont déjà convaincus. Mais la France n’est pas à l’abri elle non plus...
10/04/2012

L'Espagne paie toujours le risque bancaire

Afin de lutter contre le regain de tension sur les rendements espagnols, le gouvernement prévoit de lancer jeudi la privatisation de CaixaCatalunya et Banco de Valencia, et de dégager dix milliards d’euros d'économies supplémentaires dans l'éducation et la santé.
10/04/2012

L'assurance-maladie comme levier de la réduction des déficits

Le déficit de l’assurance-maladie a sensiblement diminué en 2011, à 8,6 milliards d’euros contre un pic de 11,6 milliards en 2010, selon le quotidien. «La situation n’est pas aussi dramatique qu’on pourrait le croire. L'équilibre est à notre portée, sans se lancer dans des réformes brutales, comme certains le préconisent», selon Frédéric Van Roekeghem, directeur de l’assurance-maladie. Le président Nicolas Sarkozy entend continuer à limiter l’augmentation des dépenses de santé en à 2,5% par an. Son adversaire socialiste François Hollande prévoit lui de limiter à 3% la hausse de l’Objectif national de dépenses d’assurance maladie (Ondam).
10/04/2012

Le CME se renforce en Europe

Le quotidien, citant le responsable européen de l’opérateur américain CME, William Knottenbelt, indique que le groupe songe à lancer un marché à terme sur le Vieux continent, où il est déjà présent avec une activité de compensation. Le CME envisagerait ainsi une piste alternative s’il ne parvenait pas à racheter le London Metal Exchange. Le CME fait partie des quatre prétendants encore en course pour le LME.
10/04/2012

600 millions de dollars pour un hôtel new-yorkais

Le conglomérat indien Sahara India Pariwar aurait selon le quotidien américain formulé une proposition non sollicitée de quelque 600 millions de dollars pour le rachat du Plaza Hotel à New York. Le holding israélien El Ad étudie la proposition, dont la réalisation nécessite l’approbation de son partenaire Kingdom Holding, contrôlé par le prince saoudien Alwaleed bin Talal.
10/04/2012

L’inflation chinoise est plus marquée que prévu

Les prix à la consommation ont augmenté de 3,6% sur un an en mars en Chine, contre une progression de 3,3% attendue par les analystes. Sur un mois, la hausse est de 0,2%. Mais l’impression que le ralentissement de l’activité économique a remplacé l’inflation comme sujet de préoccupation numéro un de Pékin a été renforcée par le fait que les prix à la production ont baissé de 0,3% le mois dernier (contre -0,2% attendu).

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