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01/02/2011

Axel Weber a la cote auprès des Européens

Un candidat allemand à la tête de la BCE serait le mieux accepté par l’ensemble des pays de la zone euro, indique une enquête réalisée par le quotidien en association avec l’institut de sondage Harris. Le président de la Bundesbank, Axel Weber, serait ainsi le candidat qui aurait le soutien en Europe le plus important pour succéder à Jean-Claude Trichet, dont le mandat expire fin octobre. Jusqu’à présent, les déclarations très restrictives en termes de politique monétaire d’Axel Weber l’avaient desservi, mais il semble que la rigueur budgétaire et le dynamisme de la croissance allemande aient retourné l’opinion sur le sujet, selon le sondage.
01/02/2011

L'Egypte agite le pétrole

Les experts du marché du pétrole ont tempéré les effets de la crise égyptienne qui n’a pas encore provoqué de ruptures du transit de l’or noir.
01/02/2011

Vague d’émissions d'entreprises ibériques

Cinq groupes ont profité de l’accalmie pour placer 3,9 milliards d’euros d’obligations la semaine dernière. Les carnets d’ordres ont été bien remplis mais pas forcément par des investisseurs de qualité. Compte tenu du risque souverain, les corporates ont offert des rendements élevés.
01/02/2011

L’Europe et l’Allemagne sur la même longueur d’onde

La Commission européenne et la Hongrie, qui préside actuellement l’Union européenne, soutiendraient selon le Financial Times Deutschland la chancelière allemande Angela Merkel dans son combat pour mener des réformes structurelles sur les régimes sociaux. La Commission prône l’allongement de l’âge de départ à la retraite en lien avec l’allongement de la durée de vie, la réduction des déficits publics et la hausse du taux d’emploi à 75%.
31/01/2011

Moody's abaisse la note de l'Egypte

Moody’s a annoncé avoir abaissé d’un cran la note souveraine de l’Egypte et l’avoir assortie d’une perspective négative, après les manifestations demandant le départ du chef de l’Etat. La note est ramenée à Ba2, notamment en raison d’une hausse importante du risque politique, précise Moody’s, qui notait auparavant l’Egypte Ba1 avec une perspective stable. L’agence de notation pourrait encore abaisser cette note à un horizon de 18 mois.
31/01/2011

Pas de projet pour étendre les prêts à la Grèce à 30 ans

Etaler les prêts consentis à la Grèce dans le cadre de son plan de sauvetage faciliterait leur remboursement mais il n’y a pas de projet officiel visant à les étendre à 30 ans, a déclaré le ministre grec des Finances, dans une interview au quotidien Ta Nea. «Il est clair, néanmoins, qu’il y a des réflexions sur la manière d’améliorer la viabilité de la dette de pays comme la Grèce avec une période de remboursement plus longue», a-t-il ajouté.
31/01/2011

La Russie maintient ses taux mais la hausse des réserves obligatoires se poursuit

La banque centrale russe a contre toute attente annoncé lundi le maintien de ses taux d’intérêt, préférant poursuivre sa lutte contre les tensions inflationnistes via le relèvement de réserves obligatoires des banques. Le 24 décembre, la Banque de Russie avait relevé de 25 points de base le taux de ses opérations de dépôt. Le taux de réserves obligatoires en contrepartie de prêts bancaires à des entreprises non résidentes dans le pays sera augmenté de 100 points de base à 3,5% à partir du 1er février et celui pour tout autre type de prêt de 50 points de base à 3,0%.
31/01/2011

Pékin élargit le champ des swaps de devises

Les banques pourront traiter des swaps de devises en Chine pour le compte de leur clientèle d’entreprises à compter du 1er mars, a indiqué dimanche la State Administration of Foreign Exchange (SAFE). Les currency swaps, qui permettent de couvrir à la fois un risque de change et de taux, peuvent déjà être négociés sur le marché interbancaire chinois depuis août 2007.
31/01/2011

L'inflation dans la zone euro s'accélère en janvier à 2,4%

L’inflation s’est accélérée plus fortement qu’attendu en janvier dans la zone euro, restant pour le deuxième mois consécutif au-delà de l’objectif fixé par la Banque centrale européenne (BCE). Selon une première estimation publiée par Eurostat, l’inflation ressort à 2,4% sur un an dans les 17 pays de la zone, contre 2,2% en décembre et un consensus de 2,3%. L’objectif de la BCE, qui publie sa décision de politique monétaire, est de maintenir l’inflation très légèrement en dessous de 2%.
31/01/2011

Baisse de 0,3% des ventes au détail en décembre en Allemagne

Les ventes au détail en Allemagne ont reculé de 0,3% en décembre en termes réels par rapport à novembre, selon les chiffres publiés lundi par l’Office fédéral de la statistique. Les économistes de marché attendaient une hausse de 2% sur un mois. En novembre, les ventes avaient reculé de 1,9% par rapport à septembre.
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

Janus returns to profitability in 2010

Janus Capital Group has reported a full year net income of USD159.9 million for 2010, compared with a net loss of USD757.1 million for 2009.For the fourth quarter, net income totalled USD65.9 million, compared with net income of USD32.5 million in the third quarter 2010 and net income of USD37.0 million in the fourth quarter 2009.At December 31, 2010, the US fund manager’s total assets under management were USD169.5 billion compared with USD160.8 billion at September 30, 2010 and USD159.7 billion at December 31, 2009.The increase in yearover-year assets was the result of USD20.8 billion of net market appreciation and long-term net outflows of USD10.8 billion.
31/01/2011

JP Morgan Chase appoints a CIO

p { margin-bottom: 0.08in; } JP Morgan Chase on 27 January announced the appointment of Irene Tse as chief investment officer for North America, replacing Althes Duersten, who has retired. Tse previously worked at Duquesne Capital Management, as managing director and portfolio manager. She will report to Ina Drew, CIO, and will join the executive board at JP Morgan.
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

BNY Mellon Asset Servicing recruits Jürgen Scharfenorth

p { margin-bottom: 0.08in; } On 1 February, Jürgen Scharfenorth will take up his new position as head of relationship management for Germany at BNY Mellon Asset Servicing, where he will report to Michelle Grundmann, managing director.Scharenforth was previously managing director, sales & global relationship management for Germany and Austria at Société Générale Securities Services Deutschland, CEO of Société Générale Securities Services, Deutsche KAG, and CEO of Société Générale Securities services Euro-VL Deutschland.
31/01/2011

MackayWilliams and Metrinomics found Fund Buyer Focus

p { margin-bottom: 0.08in; } London-based MackayWilliams LLP and Berlin’s Metrinomics GmbH, which previously published Fund Market Focus, have created a fund market analysis joint venture, Fund Buyer Focus Ltd. The goal of the collaboration is to combine research into European external fund buyers which has been undertaken since 2001 by Metrinomics with the analysis and perspective capacities of MackayWilliams.The project will allow Metrinomics to concentrate its primary activites on research, particularly in telecommunications. MackayWilliams, for its part, will develop the coverage and depth of its monthly publication Fund Radar, independently of Fund Buyer Focus.Fund Buyer Focus will continue the Fund Market Focus surveys of samples of over 900 respondents from a universe of over 4,000 professional fund actors in Europe. Combining these results with analysis of various markets, the new firm will be able to provide interesting advice about the dynamics of fund markets in terms of both supply and demand, nationally as well as internationally. Clients will then have access to a unique source of indicators to measure the success of distribution and sales strategies.The team at Fund Buyer Focus includes five specialists. It will be led jointly by Hans Schmolke, CEO of Metrinomics, and Rodney Williams, CEO of MackayWilliams, who will personally be involved in the development of products, sales and marketing.MackayWilliams was founded in 2010 by Diana McKay and Rodney Williams, who founded Feri Fund Markets Information (Feri FMI) with Feri Trust, a firm which was sold to Thomson Reuters in 2007.
31/01/2011

Werner Hedrich promoted to country head for Germany and Austria at Morningstar

p { margin-bottom: 0.08in; } Werner Hedrich, who for the past six years has been head of fund research for the German-speaking countries (Germany, Austria and Switzerland), has been promoted to CEO for Germany and Austria at Morningstar. He will report to Bevin Desmond, international business president, who directs the group’s international operations from Chicago.
31/01/2011

Pioneer could stay in Italy

UniCredit is discussing a tie up of its Pioneer Global Asset Management unit with Intesa Sanpaolo’s Eurizon Capital SGR, said two people with knowledge of the talks, according to Bloomberg. The talks have the backing of government officials who would prefer to keep the asset management firm in Italian hands,
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

Aviva Investors is to hire a team in Sweden

p { margin-bottom: 0.08in; } Tove Bångstad, who has been appointed as director of commercial development in Sweden for Aviva Investors, will initially recruit five people in Stockholm, Dagens Industri (di.se) reports.
31/01/2011

Catella acquires a Swedish management firm

Catella has agreed to acquire 55% of the share capital and voting rights in Enskild Kapitalförvaltning AB. It has also made an offer to acquire the remaining shares for the same price. Total acquisitions price for 55% of the shares is therefore expected to amount SEK 28 million. Enskild Kapitalförvaltning is one of the larger independent asset managers in the Swedish market, with assets under management of approximately SEK 4 billion under management. The acquisition of Enskild Kapitalförvaltning will be a complement to the existing private banking business in Luxembourg and should be viewed as a step to establish a full scale private banking operation in Sweden and the Nordic region.
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.

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