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07/10/2010

Schroders releases ISF Global Small Cap Energy fund in Germany

p { margin-bottom: 0.08in; } The Global Small Cap Energy sub-fund of the Luxembourg Sicav ISF (International Selection Fund) from Schroders, launched on 17 May 2010, has been issued a sales license for Germany by BaFin. The fund invests in small caps in the energy sector (USD50-500m) worldwide. The managers, John Coyle and Ben Stanton (who already manage the Schroder ISF Global Energy fund), are betting on the conjunction of economic recovery and a rise in demand with a lack of oil production capacity; they are also betting on an increase in mergers and acquisitions. The size of the fund (30-50 positions) will be limited to USD500m. Global Small Cap Energy will not rely on leverage, short-selling or direct investment in commodities.CharacteristicsName: Schroder ISF Global Small Cap Energy EURISIN code (A class shares): LU 0507598497Benchmark index: MSCI World EnergyFront-end fee: 5%Management commission: 1.5%Minimal initial subscription: EUR1,000
07/10/2010

HedgeCo hedge fund index up 7.14% in seven months

p { margin-bottom: 0.08in; } The aggregate hedge fund index calculated by HedgeCo has posted an average annualised performance of 7.14% for the first seven months of the year, compared with growth of 4.18% for the S&P 500. The long/short index has earned the best results, with returns of 7.58%.
07/10/2010

Luis Ojeda becomes head of private banking at Deutsche Bank for Southern Europe

p { margin-bottom: 0.08in; } Luis Ojeda, previously CEO of the private wealth management (PWM) division for Spain at Deutsche Bank, has been promoted to head of PWM for all of Southern Europe, including Spain, France, Italy, Greece, Portugal, and the French-speaking part of Switzerland, Cotizalia reports. It is a newly-created position, and Ojeda will be replaced in Spain by the current deputy CEO, Antonio Losada. PWM offers services to retail clients with financial savings of at least EUR2m.
07/10/2010

Inflows at ING IM for dividend strategy

Since the beginning of the year, ING Investment Management has seeninflows of EUR200-300m for high dividend yield equities management, following inflows of EUR450-500m in 2009. As of 31 August, the asset management firm had EUR9bn in assets under management in this strategy, out of total assets under management of EUR376bn (30 June). ING IM’s dividend strategy, launched in 1999, is now divided into several geographical regions: Europe, global, United States and Asia.
07/10/2010

DBS Group may sell asset management arm

p { margin-bottom: 0.08in; } Several sources cited by Asian Investor say that the Singapore-based DBS Group may sell its asset management activities, currently at DBS Asset Management, or merge them with those of a strategic partner. Among the candidates who are said to have already entered talks with DBS are Nikko Asset Management and a European management firm. Assets under management at DBS Asset Management currently total about USD20bn (SGD26bn).
07/10/2010

Société Générale Private Banking forms partnership in equities research

p { margin-bottom: 0.08in; } Société Générale Private Banking announced on Wednesday, 6 October that it has teamed up with Copal Partners to strengthen its equities research and to build its services dedicated to high net worth retail clients. The agreement allows Société Générale Private Banking to double the number of securities covered by its equities research, and to extend its analysis to Latin America, the United States, Western and Eastern Europe, the Middle East, Africa and Asia, and to strengthen its abilities to respond to specific demand from private clients in relation to all publicly traded equities, a statement says. Société Générale Private Banking will retain supervision of all research produced by Copal Partners.
07/10/2010

Franklin Templeton recruits for pension sales team

p { margin-bottom: 0.08in; } The US management firm Franklin Templeton on 5 October announced that it has added to its defined-contribution pension program sales team with the recruitment fo Tyler Johnson as DCIO Key Account Manager. Franklin Templeton has also revised its organisation to take into account changes which are taking place in the advising market, where consolidation is continuing, but where there is still a population of financial advisers who may occasionally sell pension plans, but who need assistance to do so.
07/10/2010

Appointments at Lord, Abet & Co

p { margin-bottom: 0.08in; } The US management firm Lord, Abet & Co has announced the appointment of five partners: David J. Linsen and Thomas B. Maher, fund managers, Jonathan M. Morgan, director of institutional services, Lawrence B. Stoller, vice general counsel, and Stacy P. Allen, chief administrative officer.
07/10/2010

DWS recruits a director from UBS

p { margin-bottom: 0.08in; } Mutual Fund Wire reports that DWS Investments has appointed Jeffrey Diamond as director, senior national account manager and head of offshore distribution in the United States. Diamond, previously at UBS, will be based in New Jersey, and will report to Michael Woods, managing director, CEO and director of distribution in the United States.
07/10/2010

New recruitment at Insynergy

p { margin-bottom: 0.08in; } Insynergy Investment Management, which has recently launched the Absolute China and Absolute India funds, and recruited David Stead (ex Skandia) as business development director, has appointed Bambos Hambi as head of strategy and development. Hambi, who had been a full-time consultant for Insynergy since early August, was director of multi-management at Gartmore until May 2008.
07/10/2010

Credit Suisse launches a real estate fund specialised in hospitality industry

p { margin-bottom: 0.08in; } The Credit Suisse group on 6 October announced that it has launched a new real estate fund, the Credit Suisse Real Estate Fund Hospitality (CS REF Hospitality), which is the first real estate fund in Switzerland to invest in a diversified manner in Swiss hospitality properties. Only qualified investors may participate in the first issue, which is planned for November or December 2010, Credit Suisse says in a statement. In addition to the acquisition of existing properties, the fund may undertake construction projects. Real estate investments are diversified by operator, type of property, age, building type and situation. Initially, only qualified investors may subscribe to the CS REF Hospitality. Institutional investors whose treasury is professionally managed and high net worth retail investors are included in this category. The statement explains that the term “hospitality” includes the hotel industry in the broad sense. The hospitality business, previously limited only to hotels, now includes a much wider range of services, from residences with hotel services to student campus residences, health sector properties, residences, and various forms of hotels.
07/10/2010

Emeralt launches Opal hedge fund, focusing on Russia and CIS

p { margin-bottom: 0.08in; } The range of hedge funds focused on Eastern Europe from the Swedish asset management firm Emeralt Investments has grown with the addition of Opal, a long/short Russian and CIS equities product which combines stock-picking and macro analysis, Hedge Week reports. The fund, which has started up with considerable seed capital, will be managed by Johan Ekström, who has returned to Emeralt after a period at the Russian Alfa Bank. The fund will invest in sectors other than oil and gas, with the objective of generating outperformance compared with long-only Russia funds and global emerging markets funds.
07/10/2010

Clemens Reuter (SIX) joins UBS Global AM

p { margin-bottom: 0.08in; } As of 1 February, Clemens Reuter, a member of the senior management team, head of member relations and head of stock market activities at SIX Swiss Exchange will become head of the ETF operation at UBS Global Asset Management, in cooperation with the business units for investment banking and wealth management. Reuter will continue to be based in Zurich, and will report to Martin Thommen, head of UBS Funds for Switzerland and interim head of ETF activities.
07/10/2010

Eaton Vance enters Asia

p { margin-bottom: 0.08in; } The Boston-based management firm Eaton Vance has recruited Rob White, previously of Banquo Credit Management, as head of its new regional office in Singapore. Asian Investor reports that Eaton Vance is naturally planning to focus on major institutional investors, but that the management firm is also planning to develop its activities in a less traditional asset class: bank loans. Eaton Vance is hoping to obtain a license to operate on capital markets as well as a management firm license by the end of the year.
07/10/2010

UBS adds to Asian wealth management team

p { margin-bottom: 0.08in; } UBS has added to its team dedicated to the ultra-high net worth (UHNW) client segment through internal promotions and recruitments, Asian Investor reports. Amy Lo, previously head of the Hong Kong market and the UHNW segment, also in Hong Kong, has been appointed head of the UHNW segment for all of the Asia-Pacific region. UBS has made one internal promotion (Jean-Claude Humair) and one recruitment (Francis Liu) to replace Lo in Hong Kong. Lio, previously of Bank of America Merrill Lynch, will join UBS in December. Liu will work alongside Humair, currently head of wealth management in Japan at UBS.
07/10/2010

Asian management firm for sale

Asia’s DBS Group is said by several sources to be in advanced talks to sell its asset management business or merge it with a strategic partner, according to Asian Investor. There are at least two firms in serious discussions regarding DBS Asset Management, including Tokyo-based Nikko Asset Management and an unnamed European fund manager, writes the Internet website. By buying DBS Asset Management, managing assets of EUR20bn, a European firm could acquire an almost instant, credible Asian investment platform.
07/10/2010

Spanish investors missed out on Ibex rally

p { margin-bottom: 0.08in; } The Observer 2010 study from the Spanish Inverco association of asset management firms, covering the period 2007-2009, finds that Spanish investors withdrew a total of EUR438m from Spanish equities funds in 2007, while the Ibex index of the Madrid stock exchange gained 7.3% that year. In 2008, when the Ibex lost 32.1%, net redemptions totalled nearly EUR2.9bn. In 2009, when the index gained 52.8%, net subscriptions totalled only EUR21m. The conclusion drawn from this is that many investors pulled out in 2008 and missed out on the rally in 2009. At the height of the crisis, from the end of 2007 to the end of 2008, the number of subscribers fell by 552,000, to nearly 308,000.
07/10/2010

Parvus acquires 10% of Liberty Acquisition

p { margin-bottom: 0.08in; } The British hedge fund management firm Parvus Asset Management has announced to the SEC that it has acquired a 10% stake in the US firm Liberty Acquisition Holdings Corp., the structure set up by Nicholas Berggruen (who owns 9.87% of the firm) to bail out the Spanish Prisa group, for USD132m, Cotizalia reports. Among the other shareholders in Liberty Acquisition are The Children Investment group (TCI), Pentwater Capital, Tig Advisors, Fir Tree and Centaurus Capital. Together, Goldman Sachs, Deutsche Bank, Citigroup and Credit Suisse control 12% of Liberty.
07/10/2010

Sicav assets down

p { margin-bottom: 0.08in; } According to statistics from VDOS Stochastics, total assets in 3,205 Spanish Sicav funds, a vehicle used primarily by Spanish high net worth families, as of 30 June totalled over EUR25.32bn, which represents a reduction of nearly 1.3% compared with their levels as of the end of December. As of the end of March, assets under management totalled EUR26.21bn (see Newsmanagers of 28 June).. BBVA Patrimonios was the top manager in terms of asset volumes, as in first quarter, with a market share of 11.14%, compared with 10.96%, and net subscriptions of EUR81m in April-June, compared with EUR77m in January-March. As in first quarter, its Morinvest Sicav ranks top, but its assets fell to EUR440m, from EUR452m.
07/10/2010

Morningstar appoints CEO of Australasian operation

p { margin-bottom: 0.08in; } Anthony Serhan, who was previously managing director of Ibbotson Associates Australia, an affiliate of Morningstar, has been appointed CEO of Morningstar Australasia Pty Ltd., where he was previously head of adviser and research. He will continue to serve as director of Ibbotson Associates Australia, which will now be led by Daniel Needham, who has served as CIO for several years.
06/10/2010

Un nouveau responsable de l'investissement chez Woori

La société de gestion alternative basée à Singapour Woori Absolute Partners vient de nommer Edward Sungshik Moon en qualité de chief investment officer, rapporte Hedgeweek.Edward Sungshik Moon conserve ses fonctions de responsable des fonds de fonds et de lead portfolio manager.
06/10/2010

Financière de l’Echiquier signe un accord de distribution en Italie

La Financière de l’Echiquier vient de signer un accord avec la société d’intermédiation de valeurs mobilières indépendante italienne Copernico SIM pour la distribution en Italie aux clients de cette dernière des fonds de la société de gestion française, rapporte le site italien FondiOnline.it. Cela concernera plus précisément 5 fonds de la Financière de l’Echiquer, dont Agressor.
06/10/2010

Nouvel accord de distribution pour Edmond de Rothschild en Italie

Edmond de Rothschild SIM vient de signer un accord avec Banca Efigest selon lequel 40 fonds de droit français d’Edmond de Rothschild seront disponibles sur http://www.fundstore.it/, rapporte Bluerating. Cet accord porte à 96 le nombre de sociétés de gestion disponibles sur la plate-forme Internet détenue par Banca Efigest, qui est l’une des seules qui permette d’acheter des fonds en utilisant son compte courant.
06/10/2010

Aberdeen pourrait s’allier à Pirelli Re Sgr

La société de gestion immobilière italienne Pirelli Re Sgr pourrait s’allier à un acteur européen, selon Plus 24, le supplément argent d’Il Sole – 24 Ore. Parmi les noms qui circulent figure celui d’Aberdeen, déjà présent en Italie avec un portefeuille immobilier d’environ 1 milliard d’euros. Pirelli Re Sgr détient 16 % environ du marché, avec un portefeuille d’environ 6 milliards d’euros de biens immobiliers situés en Italie, principalement gérés au travers de 21 fonds.
06/10/2010

Carnegie AM recrute un ancien gérant de Jyske

La société de gestion nordique Carnegie Asset Management vient de recruter Allan Christensen, l’ancien gérant star de Jyske Invest spécialisé sur l’Asie, rapporte Citywire.
06/10/2010
Fonds

Lionhart Aurora Fund, meilleur hedge fund asiatique sur huit mois

Selon Asian Investor, les hedge funds asiatiques les plus performants classés par Eurekahedge sont Lionhart Aurora Fund qui affiche une performance de 81,6%, Quantedge Global Fund (42,8%) et FX Concepts (SAC) Ltd (38,9%), Lionhart Asia Plus Fund (35,6%), RAB Energy Fund (32,8%) et Komodo Fund (31,4%). Viennent ensuite des fonds qui ont dégagé une performance inférieure à 30% : 36 south SPC Ltd (28,3%), Horizon Growth Fund (27,6%), Credence Oriental (26,4%) et Asean Small Cap Fund (24%).Aucun des dix premiers hedge funds distingués par Eurekahedge ne figurait dans le classement de l’an dernier.
Fonds
06/10/2010

FundQuest veut se développer en Asie

Le spécialiste de la multigestion FundQuest, partenaire de BNP Paribas Investment Partners, vient de nommer Sébastien Cabanel en qualité de responsable des ventes pour l’Asie. Une fonction nouvellement créée qui illustre la volonté de FundQuest de s'établir et se développer dans la région. Sébastien Cabanel va s’intéresser dans un premier temps à Hong Kong, où il sera basé, à Tokyo et à Singapour. Selon Valérie Meurice, responsable des ventes chez FundQuest, à qui Sébastien Cabanel est rattaché, «nous poursuivons le déploiement de nos activités en Asie, un marché de plus en plus important pour FundQuest. L’expérience et le savoir-faire de Sébastien joueront un rôle clé dans le développement de nos relations commerciales et dans la promotion de FundQuest dans la région».Sébastien Cabanel travaillait précédemment à Singapour en tant que managing director chez HDF Finance, dont il a lancé les activités en 2008.
06/10/2010
Fonds

Neuberger Berman lance une version coordonnée d'un fonds d'actions émergentes

L’Irish Stock Exchange a indiqué le 5 octobre que Neuberger Berman a lancé la veille le Neuberger Berman Emerging Markets Equity fund, un compartiment du Neuberger Berman Investment Funds Plc qui est la version conforme à la directive OPCVM III d’un mutual fund lancé en 2008 aux Etats-Unis.Il s’agit d’un produit «long-only» d’actions de pays émergents pour lequel la souscription minimale est fixée à 10.000 dollars et dont le risque de change n’est pas couvert. Le portefeuille géré par Conrad Saldanha aura environ 90 lignes, notamment des petites et moyennes capitalisations sur un univers éligible d’environ 400 titres sélectionnés parmi 12.000 sociétés.Initialement, le fonds est surpondéré sur les valeurs turques et philippines, sans négliger les chinoises et les indiennes, ainsi que sur les actions des secteurs de la santé et les industrielles.
Fonds

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