Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
21/02/2011

KPMG : nomination outre-Manche d'un responsable des hedge funds

Selon Hedge Week, KPMG a annoncé la nomination de Robert Mirsky en tant que responsable des hedge funds au Royaume-Uni. Robert Mirsky travaillait précédemment chez Laven Partners, où il était managing director en charge de la création d’une plate-forme Ucits.
21/02/2011

La consolidation du secteur de la gestion est en marche

Confrontées au coup d’arrêt de la hausse des encours dans les pays développés, les sociétés de gestion cherchent à se redéployer et à trouver de nouveaux relais de croissance, rapporte Les Echos. Selon les spécialistes, les fusions-acquisitions transfrontières pourraient se développer, notamment dans les pays émergents, en priorité en Asie.
21/02/2011
Fonds

SAM reprend des fonds de Robeco

Le néerlandais Robeco a transféré entre le 15 janvier et le 18 février quatre de ses fonds à sa filiale suisse ISR SAM Sustainable Asset Management (lire notre article du 20 janvier).Le 15 janvier 2011, Robeco Agribusiness Equities et le Robeco European Equities ont pris les noms de SAM Sustainable Agribusiness Equities et SAM Sustainable European Equities. Leur code Isin devient respectivement LU0374106754 et LU0187077218. Les gérants sont Martin Jochum pour le premier et Kai Fachinger pour le second.D’autre part, les fonds Robeco European MidCap Equities et le Robeco European Stars ont été fusionnés avec le SAM Sustainable European Equities.Au 18 février 2011, trois fonds, Robeco Euro Bonds, Robeco Global Bonds et Robeco Euro Medium Term Bonds ont été fusionnés au sein du Robeco All Strategy Euro Bonds (LU0085135894) dont la gestion est assurée par Chris van der Oord.Enfin, toujours au 18 février, le Robeco Global Equities a été absorbé par le Robeco Global Stars Equities (LU0387754996) qui est désormais confié à Corné Aben et Jan Keuppens.
Fonds
21/02/2011
Fonds

Edram va lancer un fonds Japon

Selon les informations de l’Agefi Hebdo, Edmond de Rothschild Asset Management (Edram) devrait annoncer prochainement le lancement d’un fonds géré par Sumitomo Mitsui AM d’actions de sociétés japonaises profiant de la croissance du continent asiatique.
Fonds
21/02/2011
Fonds

La Cour des comptes épingle le Fonds de réserve des retraites

Dans son rapport annuel 2011, la Cour des comptes consacre un chapitre au FRR. Selon La Tribune, pour gérer sa poche obligataire classique, le Fonds de réserve des retraites pourrait s’inspirer de l’Erafp (Établissement de la retraite additionnelle de la fonction publique), qui la gère en interne. Le FRR pourrait garder une gestion déléguée pour les actifs de « performance ». La solution radicale serait d’intégrer toute la gestion, ce qui selon la Cour, «coûterait moins cher que l’externalisation facturée 40 millions d’euros en moyenne par an», rapporte le quotidien.
Fonds
21/02/2011

Pimco choisit State Street et IFDS pour le service de ses nouveaux fonds canadiens

State Street Corporation et International Financial Data Services (IFDS) Canada ont annoncé le 17 février avoir été sélectionnés par Pimco (groupe Allianz Global Investors) pour fournir un certain nombre de services à la nouvelle gamme de ses fonds retail.Le premier se chargera de la comptabilité et de l’administration de fonds, de la conservation et des services de fiducie. De son côté, IFDS fera fonction d’agent de transfert et de conservation des données clients pour les huit fonds.
21/02/2011
Fonds

VMZ lance un fonds flexible avec Universal

Le gestionnaire de fortune colonais V.M.Z. Vermögensverwaltungsgesellschaft Dr. Markus C. Zschaber mbH conseille le nouveau fonds d’actions flexible World Market Fund dont le lancement a été confié à Universal-Investment.La gestion s’opère en fonction de l'évolution du «Welt-Index» conçu par Markus Zschaber et qui résulte de la réconciliation mensuelle d’un indice de données conjoncturelle et d’un autre de prévisions de marché. Cet outil doit permettre à l'équipe de gestion d’identifier et d'évaluer très tôt des mutations cycliques intervenant dans l'économie mondiale et d’intégrer ces données dans le processus d’investissement.Le portefeuille du nouveau fonds est constitué en fonction d’analyses à la fois top-down et bottom-up. Il est en outre prévu qu’en situation extrême sur les marchés d’actions internationaux, l’exposition aux actions puisse être le cas échéant totalement couverte et que la moitié de l’encours soit investi en actions et en placements monétaires.CaractéristiquesDénomination : World Market Fund Code Isin : DE000A1CS5F8 Droit d’entrée 5 % maximumCommission de gestion : actuellement 1,90 %Commission de performance : 10 % de la performance absolue, avec high watermark
Fonds
21/02/2011
Fonds

Francfort cote six ETF iShares supplémentaires

Le 18 février, la Deutsche Börse a admis à la négociation sur le segment XTF de sa plate-forme électronique Xetra six ETF actions supplémentaires d’iShares (BlackRock), tous de droit allemand. Cela porte à 797 le nombre total d’ETF cotés à Francfort.Les fonds iShares MSCI Japan Monthly EUR Hedged (DE000A1H53P0), iShares MSCI World Monthly EUR Hedged (DE000A1H53Q8) et iShares S&P 500 Monthly EUR Hedged (DE000A1H53N5) sont des produits à réplication physique et couverts du risque de change dont les commissions de gestion ressortent respectivement à 0,64 %, 0,55 % et 0,45 %.Par ailleurs, iShares a lancé deux fonds à réplication synthétique, le iShares MSCI Russia Capped Swap (DE000A1H53L9) chargé à 0,74 % et le iShares S&P CNX Nifty India Swap (DE000A1H53K1), dont la commission de gestion se situe à 0,85 %.Enfin, le iShares MSCI USA (DE000A1H53M7), à réplication physique, est chargé à 0,40 %.BlackRock a introduit ces six fonds sur la bourse de Vienne également, en y ajoutant un septième produit de droit irlandais dédié à la Pologne, le iShares MSCI Poland (IE00B4M7GH52), un fonds à réplication physique dont la commission de gestion se situe à 0,74 %.
Fonds
21/02/2011
Fonds

L'encours des gestionnaires des caisses d'épargne fusionnées a nettement fondu

Durant les douze mois à fin janvier, les actifs gérés par les caisses d'épargne espagnoles immergées dans un processus de fusion a chuté de 3,02 milliards d’euros ou de 10,4 % pour revenir à 26,1 milliards d’euros, constate Cinco Días. Cette contraction est inférieure à celle de 14,7 % enregistrée par l’ensemble des gestionnaires espagnols, uniquement grâce au bon résultat de Catalunya Caixa, dont l’encours s’est accru de 36,3 % à 3,91 milliards d’euros. Sans cette contribution, la baisse aurait été de 15,5 %.L’autre gagnante des fusions est la société de gestion de La Caixa, dont les actifs ont gonflé de 10,5 % à 15,38 milliards, notamment grâce à son produit vedette Foncaixa Bienvenida, dopé par une prime de 3 % sur les transferts.D’autre part, Cinco Días note que, selon l’association espagnole Inverco, l’encours géré par les gestionnaires des groupes Santander et BBVA a fondu respectivement de 14,6 % et de 28,7 % sur les douze mois à fin janvier.
Fonds
21/02/2011

Mercer se renforce en Asie

Afin de renforcer son offre multi-gérants destinée aux institutionnels en Asie, Mercer va nommer des responsables commerciaux pays en Corée ainsi qu'à Hong Kong, Singapour et Tokyo, indique Asian Investor.
21/02/2011

"Nous finalisons les enregistrements de nos fonds en Italie et en Espagne"

Dans un entretien à Newsmanagers, Maroun Jalkh, directeur du développement, marketing et distribution de Neuflize Private Assets, filiale de la banque Neuflize OBC créée en 2002 par François Mouté, revient sur la fusion avec Fontenay Gestion. Il présente également les projets de la structure de gestion, dont 52 % des encours sont gérés pour des clients externes.
21/02/2011

Assets at merged management firms for savings banks fall steeply

p { margin-bottom: 0.08in; } In the twelve months to the end of January, assets under management by the Spanish savings banks, immersed in an ongoing merger process, fell by EUR3.02bn, or 10.4%, to a total of EUR26.1bn, Cinco Días reports. The contraction is less than the 14.7% decline observed for Spanish management firms as a whole, solely due to good results at Catalunya Caixa, where assets increased by 36.3% to EUR3.91bn. Without this contribution, the decline would have been 15.5%.The other winner out of the mergers is the management firm La Caixa, where assets increased by 10.5%, to EUR15.38bn, largely due to its flagship product Foncaixa Bienvenida, which got a boost from a 3% bonus on transfers.Cinco Días also observes that according to the Spanish association Inverco, assets under management by the various asset management firms of the Santander and BBVA groups fell by 14.6% and 28.7%, respectively, in the twelve months to the end of January.
21/02/2011

Smooth start to the year for hedge funds

The equity-oriented strategies all responded positively to the favourable conditions on the stock market and similarly registered a fifth consecutive month of gains, according to the Edhec-Risk Institute. The Equity Market Neutral strategy (+0.50%) managed a modest gain. Despite its smaller exposure to the stock market, the Event Driven strategy (+1.47%) outperformed the Long/Short Equity strategy (0.51%), which was hampered by a shrinking small- minus large-cap return differential (-2.22%).» «In January, sustained both by risky bonds and the increasing credit spread (+0.56%), the Convertible Arbitrage strategy (+1.90%) bettered its profits of December. Conversely, the CTA Global strategy (-0.73%) stumbled unexpectedly despite a sharp decline in the dollar and the rising trend of the commodity market. Overall, the Funds of Funds strategy (+0.16%) started 2011 on a very mild note.
21/02/2011

Mercer scales up presence in Asia

p { margin-bottom: 0.08in; } In order to increase its range of multi-management products for institutionals in Asia, Mercer is to appoint country heads for sales in South Korea, Hong Kong, Singapore, and Japan, Asian Investor reports.
21/02/2011

Not all savings investors have the same level of protection in Europe

p { margin-bottom: 0.08in; } Clients in the European asset management sector do not have the same levels of protection across Europe. “There is a European passport for funds, which allows them to be sold within the European Union, but the rules for their sale vary from one country to another, as do the rules which intermediaries have to respect, and the rules to practice advising activities vary as well,” says Jean-Baptiste de Franssu, CEO of Invesco Europe and president of Efama, in an interview with Il Sole – 24 Ore. He says the best-protected savings investors are in the Netherlands and the UK. However, de Franssu confirms that Invesco has ambitions to participate in the current wave of consolidation.
21/02/2011

Liechtenstein sets out to win over clients

p { margin-bottom: 0.08in; } The Liechtenstein bankers’ association on 18 February unveiled its strategy for the principality’s financial centre for the coming years. “The Liechtenstein financial centre is known for its high capacity for innovation, its effectiveness, and its abilities in the area of wealth management. This puts it in a position to offer top quality custom products and services to demanding international clients,” the chairman of the association, Adolf E. Real, says in a statement.However, in a contect of increased competition, the financial centre has revised its strategy (“Roadmap 2015”) to focus on five core areas: innovation, shared common objectives, international collaboration, attractiveness, and reputation, and three major principles: quality, stability, and sustainable development. “Our objective is to be considered a stable and sustainable financial centre,” the association chairman says.Following the tax scandals in Germany in 2008, the association emphasizes that it has now deployed a zero tolerance policy to tax evasion. In addition to the potential for developing international regulation, the association is also planning to take advantage of the opportunity to innovate in socially responsible investment, microfinance, and philanthropy.
21/02/2011

Edram to launch a Japan fund

p { margin-bottom: 0.08in; } According to reports in Agefi Weekly, Edmond de Rothschild Asset Management (EDRAM) is soon to announce the launch of a fund managed by Sumitomo Mitsui AM, focused on equities in Japanese companies set to profit from growth on the Asian continent.
21/02/2011

TCW closes Small Cap Growth Fund to new investors

p { margin-bottom: 0.08in; } On 17 February, the TCW Group (Société Générale) announced that from 30 April 2011, its fund TCW Small Cap (TGSCX/TGSNX) will be closed to new subscribers, but not to retail investors who are already invested in the product, or to 401(k) savings plan holders. The fund now has USD1bn in assets, and TCW would like to limit its size in order to continue to manage the fund in the best interests of existing shareholders, says Charles Balisweiler, president & CEO of TCW Funds. Investors seeking similar exposure to growth small caps may consider the TCW SMID Cap Growth Fund, managed by Husam Nazer, or the TCW Growth Equities Fund, managed by Brendt Stallings.
21/02/2011

Caceis publishes a UCITS IV guide to management firms

p { margin-bottom: 0.08in; }a:link { } Caceis has published a brochure entitled “Making the most of UCITS IV: A flexible approach by Management Company profiles,” which describes opportunities for development and rationalisation that will be available to management firms in light of the UCITS IV directive from 1 July 2011.A segmentation of management firms according to various profiles is proposed, ranging from new entrants into the UCITS fund market to more experienced promoters. “For each profile, our experts analyse the strategy that the asset management firm may adopt in regard to opportunities offered by UCITS IV, and establish scenarios for the achievement of set objectives. They then list the challenges in terms of cross-border distribution and restructuring of organisations and products,” Caceis explains in a statement. The guide is available on the website http://www.caceis.com/.
21/02/2011

Affaire Madoff : 1818 Gestion condamnée à indemniser un client

Selon La Tribune, 1818 Gestion, filiale de Banque Privée 1818, elle-même détenue à 100 % par Natixis, a été condamnée dans un jugement prononcé le 4 février, la 6e chambre du tribunal de commerce de Paris à payer la somme de 100.377 euros à la SAS Groupe Someg avec intérêts au taux légal à compter du 10 juin 2009, date de l’assignation de la Someg contre les deux sociétés.En contrepartie, la Someg renonce à tous ses droits sur les 73.213 actions de Luxalpha au bénéfice de 1818 Gestion. La Tribune rappelle que le 8 février 2008, la société a confié à 1818 Gestion un mandat de gestion «prudente» d’un montant de 2,5 millions d’euros. «En investissant dans Luxalpha, 1818 Gestion n’a pas respecté les conditions du mandat de gestion», estiment Nicolas Lecoq Vallon et Hélène Feron-Poloni, associés au cabinet Lecoq Vallon et conseils de la Someg. «1818 Gestion a manqué à son devoir d’information claire et non trompeuse, de vigilance, de diligence et de compétence en investissant sur ce fonds».
21/02/2011

Frankfurt exchange lists six more iShares ETFs

p { margin-bottom: 0.08in; } On 18 February, the Deutsche Börse admitted several more funds from iShares (BlackRock), all German-registered, for trading on the XTF segment of tis Xetra electonric platform. The additions bring the total number of ETFs listed in Frankfurt to 797.The funds iShares MSCI Japan Monthly EUR Hedged (DE000A1H53P0), iShares MSCI World Monthly EUR Hedged (DE000A1H53Q8) and iShares S&P 500 Monthly EUR Hedged (DE000A1H53N5) are physical replication products, hedged for currency risks, with total management commissions of 0.64%, 0.55% and 0.45%, respectively.iShares has also launched two synthetic replication funds, the iShares MSCI Russia Capped Swap (DE000A1H53L9) , with fees of 0.74%, and the iShares S&P CNX Nifty India Swap (DE000A1H53K1), with management commission of 0.85%.The iShares MSCI USA (DE000A1H53M7), a physical replication fund, charges 0.40%. BlackRock has also launched these six funds on the Vienna stock exchange, with the addition of a seventh Irish-registered product dedicated to Poland, the iShares MSCI Poland (IE00B4M7GH52), a physical replication fund with management commission of 0.74%.
21/02/2011

VMZ launches a flexible fund with Universal

p { margin-bottom: 0.08in; } The Cologne-based wealth management firm V.M.Z. Vermögensverwaltungsgesellschaft Dr. Markus C. Zschaber mbH is advisor to the new flexible equities fund World Market Fund, whose launch has been announced by Universal-Investment.Management of the fund will follow the evolution of the “Welt-Index” designed by Markus Zschaber, involving the monthly combination of an index of conjunctural data and another index of market outlooks. This tool will allow the management team to identify and evaluate cyclical changes taking place in the global economy early on, and to integrate these data into the investment process.The portfolio of the new fund is constructed on the basis of both top-down and bottom-up analysis. In case of extreme situations on international equities markets, exposure to equities markets may be wholly hedged, and half of assets may be invested in money market investments and equities.CharacteristicsName: World Market FundISIN: DE000A1CS5F8Front-end fee: Maximum 5%Management commission: Currently 1.90%Performance commission: 10% of absolute returns, with high watermark
21/02/2011

Euro zone: net subscriptions to non-money market mutual funds totalled EUR82bn in fourth quarter

p { margin-bottom: 0.08in; } As of December 2010, assets in shares in non-money market mutual funds in the Euro zone totalled EUR223bn more than they had three months previously, in September 2010, according to statistics from the European Central Bank (ECB). This increase is largely due to an increase in the value of shares. Assets totalled EUR5.738trn as of December 2010, compared with EUR5.515bn as of the end of September. In the same period, assets in shares in money market mutual funds in the Euro zone declined, to EUR1.107trn from EUR1.138trn. Net subscriptions to non-money market mutual funds in the Euro zone totalled EUR82bn in fourth quarter 2010, while net outflows from shares in money market mutual fund shares totalled EUR35bn. In terms of investment ventilation strategies, the annual pace of growth in shares issued by “bond” funds totalled 9.2% in December 2010, and net subscriptions totalled EUR13bn in fourth quarter. For “equities” funds, the annual growth rate totalled 3.2%, and net subscriptions totalled EUR29bn. For “mixed” funds, the corresponding figures were 6.3% and EUR26bn, respectively.
21/02/2011

Ernesto Bertarelli out to become a heavyweight in wealth management

p { margin-bottom: 0.08in; } Agefi Switzerland reports, citing Le Matin Dimanche, that the former head of the pharmaceutical group Serono, and winner of the America’s Cup, Ernesto Bertarelli, is now seeking to beconme a global leader in wealth management, via a fund founded in London. The Sunday newspaper reports that “the recent creation from Ernesto Bertarelli” is none other than a financial company, entitled Northill Capital, founded in London on 18 November. Northill Capital is “the strong arm with which he is planning to ‘conquer a global empire in the area of private and institutional asset management.'”
21/02/2011

SAM takes over responsibilities from Robeco

p { margin-bottom: 0.08in; } Dutch asset management firm Robeco between 15 January and 18 February transferred four of its funds to its Swiss SRI affiliate SAM Sustainable Asset Management.On 15 January 2011, Robeco Agribusiness Equities and Robeco European Equities changed names to become known as SAM Sustainable Agribusiness Equities and SAM Sustainable European Equities. Their ISIN codes remain LU0374106754 and LU0187077218, respectively. The managers are Martin Jochum for the former, and Kai Fachinger for the latter.Meanwhile, the Robeco European MidCap Equities and Robeco European Stars funds have been merged into the SAM Sustainable European Equities.On 18 February 2011, three funds – Robeco Euro Bonds, Robeco Global Bonds and Robeco Euro Medium Term Bonds were merged into the Robeco All Strategy Euro Bonds (LU0085135894), managed by Chris van der Oord.Also on 18 February, the Robeco Global Equities was absorbed by the Robeco Global Stars Equities (LU0387754996), which is now managed by Corné Aben and Jan Keuppens.
21/02/2011

Outflows from emerging markets equities funds continue

p { margin-bottom: 0.08in; } For the week to 16 February, transfers of capital from emerging markets equities funds towards developed markets equities funds continued, according to statistics from EPFR Global. Equities funds posted inflows of USD8.39bn, while bond funds saw inflows of USD1.16bn. Money market funds, however, saw outflows of USD3.73bn.Outflows from emerging markets equities funds totalled USD5.45bn, while inflows to developed markets equities funds were at their highest levels in 30 months, with the result that since the beginning of the year, equities funds (United States, Europe, Japan and international) have attracted more than USD4.7bn, of which USD29bn have gone to US equities funds. In the corresponding periods of 2009 and 2010, EPFR Global observed outflows of USD28bn and USD17bn, respectively.
21/02/2011

Funds threaten lawsuit against Porsche

p { margin-bottom: 0.08in; } Franz Braun, a lawyer at the Munich law firm CLLB, says 14 fund management firms are threatening to sue Porsche for market manipulation. They are planning to seek more than EUR1bn in damages and interest, which would come in addition to EUR2.4bn which have already been sought in other suits, the Frankfurter Allgemeine Zeitung reports.The management firms accuse Porsche and the former chairman of the board and CFO of dissimulating to the markets about their genuine intentions with relation to the firm’s acquisition of Volkswagen, and of misleading investors.
21/02/2011

Israeli market is a core growth area for Swiss private banking

p { margin-bottom: 0.08in; } Agefi Switzerland reports that the Israeli market holds a certain attraction for Swiss management banks in the areas of private management and institutional clients. Most of the major Swiss banks have offices or a private or institutional wealth management operations in Israel. The remarkable growth of the Israeli economy and the precarious situation for the country have created a class of high net worth investors seeking international wealth management.

Sujets d'actualité

Tous les sujets