Un nouvel ETF de HSBC à Paris
NYSE Euronext a annoncé le 8 juin l’admission à la négociation sur sa plate-forme parisienne du HSBC MSCI EM LATIN AMERICA ETF (IE00B4TS3815). Ce produit émis par HSBC ETFs est chargé à 0,60 %.
09/06/2011
Gilles David prend le poste de directeur des gestions chez CamGestion
CamGestion, partenaire de BNPP IP spécialisé en gestion patrimoniale, a annoncé, mercredi 8 juin, l’arrivée de Gilles David au poste de directeur des gestions, en remplacement de Philippe Forni qui reste directeur général de CamGestion. En pratique, Gilles David définira les grandes lignes de la politique d’investissement de CamGestion, et pilotera l’équipe de gestion composée de 12 personnes, précise un communiqué. Le nouveau promu rapportera directement à Philippe Forni. Agé de 45 ans, Gilles David a rejoint le groupe BNP Paribas en 2007 en tant que responsable de l’équipe «allocation du risque» de BNP Paribas Asset Management. Auparavant, de 2001 à 2007, il a été gérant gestion diversifiée internationale, et responsable des comptes institutionnels chez Crédit Agricole Asset Management (CAAM).
09/06/2011
SGPB Hambros finalise l’acquisition des activités de gestion de fortune de Baring AM Limited
SGPB Hambros, filiale de Société Générale Private Banking, a annoncé, mercedi 8 juin, la finalisation de l’acquisition des activités de gestion de portefeuilles dédiées à la clientèle privée de Baring Asset management Limited, basées à Londres et Guernesey.Effectif au 31 mai 2011, le transfert des équipes de gestion de portefeuilles vient renforcer les équipes de conseil en investissement de Société Générale Private Banking Hambros et souligne les ambitions de la banque en matière le développement de ses activités de gestion de fortune du groupe Société Générale au Royaume Uni et dans les îles anglo-normandes, précise un communiqué.
Les fonds luxembourgeois collectent en avril
En avril, les organismes de placement collectif luxembourgeois ont enregistré des souscriptions nettes de 10,667 milliards d’euros, selon les dernières statistiques de la Commission luxembourgeoise de surveillance du secteur financier (CSSF). Mais compte tenu d’un effet de marché négatif de 6,155 milliards d’euros, les encours ont progressé de seulement 4,512 milliards d’euros (+0,21 %) à 2.195,408 milliards d’euros. Sur les douze derniers mois, les actifs ont augmenté de 9,07 %. Le nombre d’organismes de placement collectif (OPC) et de fonds d’investissement spécialisés (FIS) pris en considération en avril est ressorti à 3.736 par rapport à 3.724 le mois précédent, ajoute le régulateur luxembourgeois. 2.367 entités ont adopté une structure à compartiments multiples, ce qui représente 11.728 compartiments. En y ajoutant les 1.369 entités à structure classique, 13.097 entités sont actives sur la place financière du Luxembourg.
09/06/2011
ING IM va lancer une stratégie high dividend sur les émergents
ING Investment Management vient de lancer aux Etats-Unis une stratégie «high dividend» sur les marchés émergents qu’elle compte introduire en Europe dans les mois qui viennent, a annoncé Nicolas Simar, responsable de l’équipe «high dividend» de la société de gestion néerlandaise, lors de son passage à Paris, mardi 7 juin. Elle verra le jour dans un cadre Ucits. Le «high dividend», qui consiste à investir dans des sociétés qui versent des dividendes élevés et stables, est une stratégie phare d’ING IM. Elle représente 10,2 milliards d’euros (au 30 avril), sur un encours total de 378 milliards d’euros environ. Lancée en 1999 avec un premier fonds sur la zone euro, elle se décline désormais sur d’autres zones géographiques comme l’Europe, les Etats-Unis, le monde et l’Asie. C’est donc maintenant au tour de la zone marchés émergents d’être concernée…Ce nouveau produit va permettre de s’exposer aux marchés émergents avec une volatilité faible, explique Nicolas Simar. «Le rendement moyen de dividende sur les marchés émergents est supérieur à celui en Europe et aux Etats-Unis», ajoute-t-il. Dans les marchés développés, le responsable de la stratégie pense que les actions à haut dividende sont actuellement attrayantes dans un contexte de croissance plus faible. Il estime en outre que les dividendes sont appelés à augmenter, les hausses n’ayant pas encore été proportionnelles à la forte hausse des bénéfices enregistrée en 2010. Ainsi, en Europe, ING IM table sur une augmentation des dividendes de 10 % en moyenne tant en 2011 qu’en 2012.
Fitch confirme la notation M2- des activités de fonds de fonds de Sciens
L’agence de notation a annoncé le 8 juin la confirmation de la notation «M2-" des activités de fonds de hedge funds de Sciens Fund of Funds Management Holdings.Cette décision reflète notamment la capacité de la société à s’adapter aux changements structurels en cours dans le secteur des fonds de fonds et à l’intégration réussie de la plate-forme de comptes gérés acquise l’an dernier.
09/06/2011
ETF activities remain weak on NYSE Euronext
The European platforms of NYSE Euronext as of the end of March listed 562 ETFs from 17 issuers 653 times (while as of 8 June, they included 656 listings of 565 funds). In the past month, 16 funsd of this type were admitted to trading, of which 6 were from Amundi IS, 4 from HSBC ETFs, and 4 from Lyxor AM on Euronext Paris, and 2 iShares (BlackRock) products on Euronext Amsterdam.The average number of trades came to 8,009 in May, comapred with 7,937 in April, and 11,224 in March. Those figures represent a 43% decline compared with May 2010. Trading volumes contracted to EUR405.8m per day, compared with EUR670.7m in the corresponding month of last year (-39%), though it represented an increased compared with EUR348.7m in April. In March, volumes came to EUR509.9m.Total ETF assets listed on the European markets of NYSE Euronext represented EUR144.2bn as of the end of May, compared with EUR142.3bn one year earlier. That represents a 23.9% increase year on year.The average apread incrased in May to 27.7 basis points, compared with 26.5 in March.
09/06/2011
Feri lowers US credit rating to AA
The German firm Feri EuroRating Services, which has recently been granted the status of European ratings agency, on 8 June became the firm to lower its sovereign credit rating for the United States to AA, from a previous rating of AAA. The downgrade comes due to the country’s high level of public debt, insufficient fiscal consolidation measures, and weaker growth outlooks, Tobias Schmidt, board member, explains.
09/06/2011
ING IM to launch a high dividend emerging markets strategy
ING Investment Managemetn has launched a high dividend strategy investing in emerging markets in the United States, which it also plans to offer in Europe in the next few months, Nicolas Simar, head of the high dividend team at the Netherlands-based management firm, announced on a visit to Paris on Tuesday. The strategy will be offered in a UCITS-compliant vehicle.The high dividend stategy, which invest in firms which pay high and stable dividends, is a flagship strategy from ING IM. It had EUR10.2bn in assets as of 30 April, out of total assets of about EUR378bn. The strategy, first launched in 1999 with a first fund focused on the Euro zone, is now available for other regions, including Europe, the United States,, the world, and Asia. Emerging markets will thus become the next region to be included.The new product will provide investors with exposure to emerging markets with low volatility, Simar explains. “Average dividend returns on emerging markets are higher than in Europe or the United States,” he adds.
09/06/2011
BNY Mellon exports its European middle office platform for hedge funds
The product range for Europe from BNY Mellon Alternative Investment Services (USD400bn in assets under administration) which has been developed in Dublin over the past twelve months, will now be extended to North America and Asia. The middle office outsourcing platform for hedge funds has been augmented with some existing capacity elsewhere at BNY Mellon, including some parts of the OnCore middle office solution for managers.The platform includes a modular range of service elements for pre-trade and pre-settlement, all of which are fully integrated into fund accounting and custody, and are available virtually 24/7, so that books may be monitored in real time.
09/06/2011
Deka now belongs fully to the "Sparkassen"
The DSGV association of German savings banks (Sparkassen) on Wednesday announced that the 50% holding owned by the Landesbanken in DekaBank, the central asset manager of the savings bank galaxy, has officially been taken over by its members. It has been purchased fo EUR2.3bn, of which EUR1.3bn paid by the Sparkassen themselves and EUR1bn coming from Deka’s reserves (see Newsmanager of April, 8th). The Landesbanken, which orignally were the regional central banks for the saving banks, havec been compelled to sell their stake in order to obtain financial support from the state or simply to enhence their financial position.Deka’s AUM in open-ended securities funds at end-April was EUR100.52bn, which represents a 16.3% market share, according to the BVI association of German asset management companies. Deka also hat EUR20bn in open-ended real estate funds (23,3 %), EUR50.8 bn in institutional funds (6.3%), EUR1.43bn in institutional real estate funds and EUR12.48bn under administration in mandates.
09/06/2011
Former UBS head sells hedge fund firm
William Blair & Company, a US asset management firm with USD46bn in assets under management, has acquired Singer Partners, a firm specialised in global macro hedge fund management, founded by Brian Singer, former head of the Global Investment Solutions unit at UBS Global Asset Management. Seven other people from Singer Partners will be joining Wiliam Blair & Company.
09/06/2011
Gilles David becomes CIO at CamGestion
CamGestion, a BNPP IP partner specialised in wealth management, has announced that Gilles David has joined the firm as chief investment officer, replacing Philippe Forni, who will remain as CEO of CamGestion. In practice, David will define the major outlines of the investment policy of CamGestion, and will lead the management team, composed of 12 people, a statement says. David willr eport directly to Forni. David, aged 45, joined the BNP Paribas group in 2007 as head of the risk allocation team at BNP Paribas Asset Management. Previous to that, from 2001 to 2007, he was an international diversified management manager in charge of institutional accounts at Crédit Agricole Asset Management (CAAM).
09/06/2011
DWS plans growth in France
Slightly more than two months ago, Philippe J. Goetmann took over as the head of the Paris office of DWS Investments, the asset management firm of the German Deutsche Bank group, from Olivier Renard, who left the group. The Frenchman, who was previously head of the distribution department of DWS in Belgium, is aiming to make the German structure one of the ten largest asset management firms in France in the next three years. Now, with about EUR1bn in assets under management for private banking clients, platforms, life insurers and funds of funds, the firm places about 15th in France, Goettmann says. In terms of assets, this ambition would mean increasing total volume to about EUR1.5bn, although the figure would naturally depend on results at rival management firms and market evolution.In order to develop in France, Goetmann, who will be based in Luxembourg and Paris, will have a team of two people, composed of a senior sales person and a product manager. These will soon be completed with the arrival of a senior salesperson, probably in September.
09/06/2011
DB Platinum launches a UCITS-compliant version of a Milburn fund
Deutsche Bank and US-based Milburn Ridgefield Corporation (USD2.3bn in assets) on 8 June announced the launch of the UCITS-compliant fund DB Platinum IV dbX Millburn Multi-Markets Index Fund. The product is a UCITS III-compliant version of the Multi-Markets trading program from Milburn, with weekly liquidity. The product will be available in several share classes (euro, pounds Sterling, US dollar, and yen).The original product, which has earned annual returns of 12.4% since its launch six years ago, relies on strategies ranging from intra-day to investments lasting several months on more than 120 markets. It invests in commodities, futures, and currencies.The UCITS-compliant fund will replicate the performance of the dbX Milburn Multi-Markets fund, whose composition is decided by Milburn. It reflects exposure to publicly traded futures, forwards, and/or swap and option contracts covering markets such as energy, base and precious metals, soft commodities, equities indices, bonds, interest rates, and currencies.
09/06/2011
Fourth REIT listed in Frankfurt
The Munich-based Prime Office will be the first REIT to be released on Deutsche Börse in four years, the Börsen-Zeitung reports. Previously, there were only three REITs: Alstria Office (EUR760m), Hamborner (EUR240m), and Fair Value (EUR40m). With market capitalisation of between EUR332m and EUR451m, Prime Office will even be a heavyweight in its segment.Prime Office is planning to raise up to EUR380m from its launch, of which up to EUR320m will be from a capital increase. Shares will be offered in a range from EUR7 to EUR9.50, until 21 June.The firm, run by 8 people of whom 3 are board members, now has more properties (14) than employees. It is true that accounting and facility management have been outsourced to DCM, which has 45 employees.
09/06/2011
Inflows for Luxembourg funds in April
In April, Luxembourg based funds showed net inflows of EUR10.667bn, according to the most recent statistics from the Luxembourg regulator (CSSF). But, due to a negative market effect of EUR6.155bn, assets increased by only EUR4.512bn (+0.21%), to EUR2.195408trn. In the past twelve months, assets increased by 9.07%. The number of collective investment organisms and specialised investment funds included in the statistics for April totalled 3,736, compared with 3,724 the previous month, the Luxembourg regulator adds.
09/06/2011
Henderson registers its Credit Alpha fund in France
The Henderson Credit Alpha fund, managed by Chris Bullock and Thomas Ross, under the direction of credit manager Stephen Thariyan, has received a license for sale in France. The long/short credit fund, launched in July 2007 and compliant with the UCITS III directive, has assets of EUR600m. It aims to earn absolute returns equivalent to the Libor 3-month +5%, through a strategy oriented around three core elements: thematic positions (long or short), pair trading positions (arbitrage intra-sectored), and more opportunistic tactical positions. The managers of the fund rely on a team of 8 dedicated credit analysts, who aim to identify various opportunities involving investment grade as well as high yield securities.
09/06/2011
HSBC launches a new ETF in Paris
NYSE Euronext on 8 June announced that it has admitted the HSBC MSCI EM LATIN AMERICA ETF (IE00B4TS3815) fund to trading on its Paris platform. The product, from HSBC ETFs, charges fees of 0.60%.
09/06/2011
Strong rise in assets for Russell LifePoints range
Russell Investments has announced that its LifePoints Fund Target Date Series now has over USD1bn in assets, which represents a 44% increase in one year. The range includes ten multi-management funds, of which nine are target-date funds, and the other one is the In Retirement Fund. The funds may be integrated into retirement savings plans offered by Russell through financial intermediaries and administrators of defined contribution retirement plans.
09/06/2011
Lyxor lists another bond ETF in Frankfurt
Deutsche Börse has announced that it has admitted a further product from Lyxor Asset Management to trading on the XTF segment of its Xetra electornic platform. The product is the Lyxor ETF Daily Leveraged Bund (FR0011023654), which charges 0.20%. The underlying index is the SGI Daily Leveraged Bund Index.
09/06/2011
Inflows for foreign funds from Italian asset managers in May
In May, funds on sale in Italy registered net outflows of EUR1.737bn, following redemptions of EUR2.155bn in April, according to the most recent statistics from Assogestioni, the Italian association of asset managers. All categories of funds show outflows. The fund categories which had the heaviest outflows were bond funds (EUR583m), money market funds (EUR536m), and equity funds (EUR444m). In terms of fund domicile, foreign -registered funds posted net subscriptions of EUR471m, while funds domiciled in Italy saw outflows of EUR2.208bn. Among foreign-registered funds, only products managed by Italian firms saw net inflows, totalling EUR691m. The management firms which saw the heaviest redemptions in May were Amundi, with EUR243.1m, and Arca, with EUR252.1m. The funds with the largest inflows were Gruppo Mediolanum, with EUR152.9m, and Banca Leonardo, with EUR52.8m. Since the beginning of the year, Italian funds saw net outflows of EUR10.723bn. As of the end of May, assets under management in the sector totalled EUR448bn.
L'ERAFP lance un appel d'offres restreint sur un mandat de gestion d'actifs immobliers
Sélection d’un prestataire pour l’attribution d’un mandat de gestion d’actifs immobiliers par l’ERAFP. L’ERAFP souhaite procéder à la sélection d’un prestataire pour l’attribution d’un mandat de gestion d’actifs immobiliers (le mandat). Le présent marché aura pour objet la réalisation du premier investissement immobilier de l’ERAFP par l’acquisition d’un immeuble de bureaux et la gestion de cet actif immobilier. Ce premier investissement sera réalisé au travers d’un véhicule d’investissement dédié, constitué et géré par le titulaire du marché. Lire l’avis complet: cliquez ici
Les OPCI institutionnels intéressent la direction financière de la CARPV
Concernant la poche immobilière, nous souhaitons augmenter les investissements de la poche immobilière (bureaux et commerces) pour la porter de 7% actuellement à 10% du portefeuille total. Une augmentation qui se fait au cas par cas en fonction de la qualité des supports (OPCI institutionnels) en phase de levée de fonds. Nous accordons de l’importance à l’existence d’un savoir faire éprouvé de la société de gestion et à l’alignement des intérêts du gérant sur celui de l’investisseur souligne Gilles Désert, le Trésorier de la CARPV (Caisse Autonome de Retraite et de Prévoyance des Vétérinaires).
Une commission d’enquête sur les « emprunts toxiques »
Les députés français ont décidé de créer une commission d’enquête parlementaire sur les «emprunts toxiques» contractés par les collectivités locales. Ils ont suivi à l’unanimité la commission des Finances de l’Assemblée nationale qui avait adopté la semaine dernière une demande du socialiste Claude Bartolone, président du conseil général de Seine-Saint-Denis, d’enquêter sur ces produits.
Moody’s renforce sa recherche sur les covered bonds
L’agence de notation a annoncé le lancement d’un nouveau service de recherche dédié au marché des obligations sécurisées. Ce service propose notamment l’accès aux notes et à l’analyse de 220 programmes en Europe, au Canada et aux Etats-Unis.
KKR s’invite dans la vente d’ING Direct USA
De sources concordantes, la société de private equity américaine cherche à acquérir une participation minoritaire au sein de la banque en ligne mise en vente par ING outre-Atlantique. Le solde pourrait être conservé par ING ou cédé à un tiers comme General Electric ou Capital One Financial Corp, qui auraient tous les deux soumis une offre.
Allianz RE boucle son premier financement
Allianz Real Estateaapporté 300 millions d’euros de dette dans le cadre de l’acquisition par DWS Investments des deux tours de Deutsche Bank à Francfort, un ensemble valorisé environ 600 millions.Ceprêt sur dix ans affiche un intérêt de 4,93 %. Il s’agit de la première opération d’Allianz RE dans le domaine du financement, où il devrait privilégier à l’avenir les prêts entre 50et 150 millions d’euros.
Cerberus en quête d’au moins 4 milliards de dollars
Selon des sources au fait du dossier citées par Bloomberg, la société de capital investissement cherche à récolter au moins 4 milliards de dollars pour son prochain fonds de private equity. Ce nouveau véhicule devrait donc être moins important que le précédent qui avait atteint 7,5 milliards de dollars.
CME veut se renforcer dans la compensation des dérivés OTC
L’opérateur boursier américain entend développer son service de compensation pour les dérivés de gré à gré (OTC) sur les métaux de base au Royaume-Uni, a indiqué hier son PDG à Reuters. Le Chicago Mercantile Exchange (CME) a ouvert cette année CME Clearing Europe, un an après le dépôt d’une demande d’autorisation auprès de la FSA.