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31/01/2011

Man recruits a head of US consultant relations

Man Group has hired Miriam Tai as head of US consultant relations. She joins from BlackRock where she was the director of global consultant relations and responsible for developing and managing the firm’s relationships with strategic investment consultants. At Man, Miriam Tai is responsible for advising on the full range of Man’s products and services to the US investment consultant community. She is based in the alternative asset manager’s New York office and reports to Raffaele Costa, managing director and head of sales for North America and Europe.“Her appointment underscores Man’s strategic commitment to the US institutional market as a top priority for the firm”, a press release says.
31/01/2011

Isabelle Bourcier officially joins Ossiam

p { margin-bottom: 0.08in; } Ossiam today, January 31st, officially reports the arrival of Isabelle Bourcier, former global head of ETF activities at Lyxor. She will become head of development at the 51% owned affiliate of Natixis AM, which will soon be launching its own range of ETFs.
31/01/2011

JPMAM, Amundi and BNP Paribas top foreign firms in Spain in 2010

p { margin-bottom: 0.08in; } According to statistics from the Spanish Inverco association of asset management firms, foreign providers were the big winners on the Spanish market in 2010. Their assets increased by more than half last year, Expansión reports, from EUR30bn to EUR48bn. At the same time, assets at Spanish firms were down 15% to EUR138bn. The three largest foreign asset management firms in Spain by asset volume as of the end of December were JPMorgan AM, with nearly EUR5.74bn, Amundi, with over EUR3.85bn, and BNP Paribas, with EUR3.06bn.
31/01/2011

M&G assets double in Spain

p { margin-bottom: 0.08in; } In 2010, assets at M&G Spain doubled to EUR1.25bn, and the British management firm laid out a plan to accelerate growth in Spain and Latin America, which is served from the Madrid office, Expansión reports. This commercial success has led M&G to recruit Cristina García de Sola (ex BlackRock Spain) as head of development. In addition, the firm will be moving to larger offices. The four M&G funds which are selling best in Spain are the M&G American Fund, Global Basics, Global Dividend and Recovery funds.
31/01/2011

Large inflows for European SRI funds in November

p { margin-bottom: 0.08in; } Net inflow to European retail funds bearing the SRI (socially responsible investment) label totalled EUR1.3bn in the month of November 2010, according to the most recent statistics compiled by Lipper FMI on behalf of Responsible Investor. The largest contributor was Amundi, with its Tréso ISR money market fund, totalling EUR1.17bn, followed by Natixis with Fonsicav (EUR335m), and Aviva with Aviva ISR Court Terme (EUR322m).
31/01/2011

Swisscanto releases a high yield and a flexible fund

p { margin-bottom: 0.08in; } From 1 February, Swisscanto will release a high yield fund in Switzerland, Germany and Austria, which will be available in Swiss francs as well as shares hedged for currency risks in euros and US dollars. The fund, the Swisscanto (LU) Bond Invest Global High Yield, is aimed at retail as well as institutional investors, and focuses on bonds with short residual durations, and regular and high interest payments, which make it possible to achieve the investment objectives even in phases of rising interest rates.The central asset management firm for the Swiss cantonal banks is also offering a flexible fund denominated in Swiss francs in Germany and Austria, the Swisscanto (LU) Porfolio Fund Dynamic Yield 0-50, for this investment limits for various asset classes are determined by the risk budget, and only the equities portion has predefined limits (0-50%).CharacteristicsName: Swisscanto (LU) Bond Invest Global High YieldISIN codes: (B shares: retail; J shares: institutional):H CHF-B: ISIN LU0556184884H EUR-B: ISIN LU0556185345H USD-B: ISIN LU0582725312H CHF-J: ISIN LU0582724935H EUR-J: ISIN LU0582725072H USD-J: ISIN LU0582725403Front-end fee: 5% maximumManagement commission:B shares: 1.3%J shares: 0.8%Name: Swisscanto (LU) Portfolio Fund Dynamic Yield 0-50ISIN codes (B shares: retail, J shares: institutional):CHF-B: ISIN LU0562145853CHF-J: ISIN LU0562149921Front-end fee: 5% maximumManagement commission:B shares: 1,1%J shares: 0.65%
31/01/2011

Nearly 100 new ETFs based on S&P indices

p { margin-bottom: 0.08in; } The index provider Standard & Poor’s on 28 January announced that 95 new ETFs based on its market indices were launched last year, an increase of 46% compared with the previous year. S&P comments that of the record total of new funds released last year, 57 ETFs were offered outside the United States.
31/01/2011

Funds hold 2,167 tonnes of gold

p { margin-bottom: 0.08in; } In 2010, investors bought 361 tonnes of gold via ETFs which are monitored by the World Gold Council (WGC), bringing total stock to 2,167 tonnes as of the end of the year, a new record. The value of this stock represented USD98bn. The WGC observes that this is the second-highest increase ever, after the 617 tonnes in net subscriptions in 2009.The two largest funds are the SPDR Gold Shares (State Street), listed in New York, which attracted 147.1 tonnes of gold investment last year, and now has a total of 1,280.7 tonnes, and the ETF Securities Physical Gold Shares, with 165.1 tonnes, and 56.6 tonnes in new subscriptions. The ZKB Gold ETF (Cantonal Bank of Zurich) and the iShares Gold Trust (BlackRock) posted respective net subscriptions of 42.5 and 37.8 tonnes.
31/01/2011

Man Group launches an ETF

Man Group will on Monday launch a new exchange-traded fund designed to outperform stock markets by trading on broker’s tips using computer algorithms.The Man GLG Europe Plus Source ETF will be the company’s first ETF and the third hedge fund-linked ETF launch ever.
31/01/2011

State Street to provide ESG reporting service for F&C

p { margin-bottom: 0.08in; } State Street Corporation on 28 January announced that it has formed a partnership with F&C Investments to provide a reporting service covering environmental, social and governance (ESG) criteria so as to allow invetors to reach their engagement objectives in this area. The ESG solution from F&C provides investors complete reporting worldwide, allowing them to meet reporting conditions required under the United Nations Principles for Responsible Investment (PRI) Investors who are eligible to use the service include managers and administrators of pension funds, institutional clients such as charities and sovereign funds, and financial institutions seeking to deploy best practices in the area of responsible invetment in order to increase the long-term value of their investments. With this new service, State Street clients will now be able to obtain complete ESG engagement reports on mystatestreet.com.
31/01/2011

Invesco moves to relaunch its Indian equities fund

p { margin-bottom: 0.08in; } MoneyMarketing reports that Invesco has decided to redistribute responsibilities on the team responsible for its Indian equities fund (GBP133m). The fund lost 18.86% in the past three years, compared with a loss of 11% for the MSCI India 10/40 equities index. Prashant Poddar, who joined Invesco in January 2010 as an analyst, has been appointed as co-manager of the fund, with Shekhar Sambhishivan. Poddar replaces co-manager Maggie Lee. The Asian equities fund will be co-managed by Lee, and the Asian infrastructure fund will also be co-managed by Paul Chan.
31/01/2011

Invesco moves to relaunch its Indian equities fund

p { margin-bottom: 0.08in; } MoneyMarketing reports that Invesco has decided to redistribute responsibilities on the team responsible for its Indian equities fund (GBP133m). The fund lost 18.86% in the past three years, compared with a loss of 11% for the MSCI India 10/40 equities index. Prashant Poddar, who joined Invesco in January 2010 as an analyst, has been appointed as co-manager of the fund, with Shekhar Sambhishivan. Poddar replaces co-manager Maggie Lee. The Asian equities fund will be co-managed by Lee, and the Asian infrastructure fund will also be co-managed by Paul Chan.
31/01/2011

Carlyle s’associe avec Palamon Capital Partners

La société d’investissement Carlyle a annoncé vendredi l’acquisition d’Integrated Dental Holdings (IDH), un fournisseur de dentisterie britannique NHS (affiliée à l’assurance maladie), auprès de Bank of America Merrill Lynch Capital Partners. IDH sera fusionné avec sa rivale Associated Dental Practices, une société entre les mains de Palamon Capital Partners. Carlyle, dont le nouvel investissement pour cette transaction vient de Carlyle Europe Partner III, détiendra la majorité de l’ensemble fusionné.
31/01/2011

Les cotations invisibles une heure sur le Nasdaq

Des difficultés techniques ont perturbé la séance de vendredi dernier sur le Nasdaq, semant la confusion chez les investisseurs. Les cotations des principaux indices de l’opérateur boursier, le Nasdaq composite et le Nasdaq 100, n'étaient plus visibles pendant près d’une heure.
31/01/2011

GIC engagé pour le long terme auprès de Citigroup et d’UBS

Le fonds souverain singapourien entend bien conserver à long terme ses participations au capital de Citigroup et d’UBS. Il ne les cèdera que s’il reçoit une offre très attrayante. Le fonds est le principal actionnaire des deux banques. C’est ce qu’a confié depuis Davos un haut responsable de GIC, Tony Tan. Ce dernier a indiqué que la baisse significative des valorisations avait créé des opportunités d’achat aux Etats-Unis et en Europe.
31/01/2011

Isabelle Bourcier rejoint Ossiam

Ossiam doit officialiser aujourd’hui l’arrivée d’Isabelle Bourcier, l’ex-responsable mondiale de l’activité ETF de Lyxor, comme annoncé par L’Agefi le 14 décembre. Elle prend les fonctions de directrice du développement de la filiale à 51% de Natixis AM, qui doit bientôt lancer son offre d’ETF. Elle avait la responsabilité de cette activité au sein de la filiale de la Société Générale depuis son lancement en 2000.
31/01/2011

Le consommateur américain se reprend

Le PIB américain a progressé de 3,2 % au quatrième trimestre 2010, porté par une demande intérieure qui pourrait s’affaiblir dans les prochains mois.
28/01/2011

La masse monétaire M3 progresse faiblement

La croissance de la masse monétaire M3 dans la zone euro a augmenté de 1,7% en décembre en rythme annuel, soit à une hausse moins marquée que ce qu’avaient anticipé les économistes (1,9%), montrent les chiffres publiés vendredi par la Banque centrale européenne (BCE). Le crédit au secteur privé a quant à lui augmenté de 1,9%, un chiffre là aussi inférieur aux attentes.
28/01/2011

L'AFT adjugera 7,5 à 8,5 milliards d'euros jeudi

L’Agence France Trésor adjugera le 3 février des lignes d’OAT à 5 ans (3,25% à 2016), 9 ans (2,5% à 2020), 10 ans (3,75% à 2021) et 12 ans (4,25% à 2023), pour un montant cumulé de 7,5 à 8,5 milliards d’euros.
28/01/2011

L'Italie place 8 milliards d'euros d'emprunts

L’Italie a adjugé pour 8,1 milliards d’euros de titres de dette souveraine vendredi dans le cadre d’une émission qui, selon les analystes, s’est plutôt bien déroulée. Le montant placé est proche du haut de la fourchette qu’avait fixée le Trésor italien et le rendement a baissé par rapport à de précédentes opérations de ce type. Dans le détail, le Trésor a émis pour 3,5 milliards d’euros à 3 ans, avec un rendement de 3,12%, un recul de 13 points de base par rapport à une adjudication intervenue fin décembre. Ont aussi été placés 3,25 milliards d’euros d’obligations à 10 ans, avec un rendement de 4,73% (-7pb) et 1,398 milliard de papier à 7 ans.

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