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10/09/2010

Citi recrute Steve Pitkin

Global head of investor relations chez Citco Fund Services, Steve Pitkin a été nommé head of investor services dans la division hedge funds services au sein du pôle global transaction services de Citigroup. Il est subordonné à Mike Sleightholme, global head of hedge fund services.
10/09/2010

Un expert en gestion de fortune de retour chez PwC

Selon Wealthbriefing, un consultant bien connu en gestion de fortune, Ian Woodhouse, chez PricewaterhouseCoopers jusqu’en 2002, est de retour au sein du géant de l’audit et du conseil.Price a nommé Ian Woodhouse au poste de director au sein de la «practice EMEA Private Banking and Wealth Management». Basé à Londres, Ian Woodhouse, sera responsable des relations avec des clients privés haut de gamme et chargé de susciter des réflexions novatrices sur l'évolution du secteur.
10/09/2010
Fonds

Deux anciens de Liontrust lancent des fonds de performance absolue

Selon fundstrategy, Jeremy Lang et William Pattisson, deux anciens responsables de l’investissement chez Liontrust, reviennent sur le devant de la scène avec trois fonds de performance absolue que propose leur nouvelle structure, créée il y a quelques mois, Ardevora Asset Management.Les deux gérants, dont le départ de Liontrust en janvier 2009 avait provoqué une chute spectaculaire de plus de 30% du cours de Bourse de la société de gestion en l’espace d’une séance, espèrent obtenir le feu vert de la Financial Services Anthority (FSA) d’ici à la fin du mois.
Fonds
10/09/2010

Dariusz Sliwinski quitte Martin Currie

Selon Citywire, le spécialiste des marchés émergents Dariusz Sliwinski doit quitter le 10 septembre Martin Currie après treize années passées au sein de la société.Depuis le recrutement par Martin Currie de quatre membres de l'équipe marchés émergents de chez Swip, Dariusz Sliwinski était en discussions avec le management sur l'évolution de la clientèle marchés émergents et sur sa position au sein de l’organisation.
10/09/2010

Lancement de la société de gestion Dunas Capital

Leonardo Mathias, ancien directeur général de Schroders pour l’Espagne et le Portugal, s’est associé avec le financier portugais Joaquim Luiz Gomes pour créer à Lisbonne la société de gestion Dunas Capital qui a déjà obtenu l’agrément de la Banque du Portugal et qui va acheter Valor Alternativo/New Globe, rapporte Funds People.La nouvelle entité, qui «naît» avec un encours de 130 millions d’euros fournira des services de conseil, de gestion discrétionnaire de portefeuilles, de gestion de fonds d’investissement et de sélection de gérants. L’objectif est d’atteindre 300 millions d’euros sous gestion d’ici à fin 2012.Dunas Capital négocie avec Credit Suisse en vue de lancer au Luxembourg un fonds coordonné qui serait commercialisés au portugal, en Espagne et en Italie.
10/09/2010
Fonds

BrightGate Capital prépare un second hedge fund

D’ici à la fin de cette année ou début 2011, BrightGate Capital (la marque de la société de gestion epsilon Gestión alternative, ndlr) a l’intention de lancer un second hedge fund de droit espagnol, avec un profil de risque plus prononcé que le premier, le BrightGate Absolute Return, qui a affiché une performance de 17,51 % entre son lancement en avril 2009 et fin aût, avec une volatilité inférieure à 4 %.Le nouveau fonds, rapporte Funds People, aura un biais marchés émergents et le gérant s’appuiera sur la sélection de gérants asiatiques et latino-américains de Permal (groupe Legg Mason).
Fonds
10/09/2010

Macquarie renforce son équipe de gestion de fortune asiatique

Macquarie Private Wealth Asia (MPWA) a annoncé le 8 septembre la nomination de trois spécialistes senior de la gestion de fortune qui vont renforcer l’expertise de la banque en Asie.James Mak, précédemment chez JP Morgan, a été nommé en qualité de responsable régional des co-investissements et du conseil stratégique. Robin Harris, précédemment managing director d’Equity Trust, a rejoint MPWA pour piloter le développement des partenariats stratégiques tandis que Leonard Tan, un ancien banquier privé chez Morgan Stanley Private Wealth Management, a été recruté en tant que conseiller clientèle, spécialisé sur les marchés du Sud-Est asiatique.
10/09/2010

Axa Wealth International recrute

Richard Leeson a quitté Prudential International pour rejoindre Axa Wealth International en tant que directeur du marketing et des ventes, selon Money Marketing.
10/09/2010

FrontPoint Partners veut se renforcer sur le marché asiatique

Selon Asian Investor, Christophe Lee, président de l’antenne Hong Kong/Chine de l’Association internationale de la gestion alternative (Aima), a rejoint le hedge fund FrontPoint Partners (Morgan Stanley) à Hong Kong en qualité de managing director pour développer l’activité dans la zone Asie-Pacifique.Dans ses fonctions nouvellement créées, Christophe Lee, qui travaillait précédemment chez SHK Fund Management en tant que CEO, sera en charge des quinze fonds de FrontPoint.
10/09/2010

Le fonds souverain GIC va faire coter sa filiale logistique

D’après les proches du dossier le fonds souverain Government of Singapore Investment Corp (GIC) a l’intention de faire coter le 15 octobre une partie de ses actifs dans le secteur de la logistique, ce qui devrait lui permettre de lever 3 milliards de dollars américains, rapporte The Wall Street Journal. L’offre publique de vente concernera sa filiale immobilière Global Logistics Properties Ltd.
10/09/2010

European depository association opens an office in Brussels

p { margin-bottom: 0.08in; } The European Central Securities Depositories Association (ECSDA) has opened its first permanent office in Brussels. Soraya Belghazi, who has been appointed as the first secretary general of the professional association, will be in charge of the Brussels office.
10/09/2010

Subscribers to ACI Dubai funds fear for their money

p { margin-bottom: 0.08in; } The ACI III fund from the German management firm Alternative Capital Investment (ACI), which attracted EUR19m in subscriptions, will soon enter bankruptcy; it lost EUR37.7m in 2009, Handelsblatt reports. It is likely that other ACI funds which also invest in Dubai are facing the same fate. In total, the Gütersloh asset management firm has launched seven such funds, which attracted EUR210m in investment from about 6,000 investors, attracted by advertising campaigns featuring Boris Becker, Michael Schumacher and Niki Lauda. Meanwhile, the Bielefeld prosecutor is investigating allegations of investment fraud against ACI’s founder, Hanns-Uwe Lohmann, and his son Robin.
10/09/2010

New deputy to marketing director at EDRAM

p { margin-bottom: 0.08in; } Edmond de Rothschild Asset Management (EDRAM) has announced the recruitment of Maria Kahane as deputy to the marketing director, in charge of product engineering and calls for offers. Kahane joins the firm along with Florence Dard, director of institutional sales, and Patrick Péris, deputy CEO in charge of development, who will aim to develop the institutional arm of EDRAM and grow the firm’s international presence, a statement says. The “product engineering and calls for offers” team now includes 5 people within the marketing team, under the leadership of Sébastien Nantas. Since 2005, Kahane served as senior RFP Manager and senior corporate strategist at the Axa Investment Managers group.
10/09/2010

Citi recruits Steve Pitkin

p { margin-bottom: 0.08in; } Steve Pitkin, global head of investor relations at Citco Fund Services, has been appointed as head of investor services in the hedge fund services division of the global transaction services unit at Citigroup. He will report to Mike Sleightholme, global head of hedge fund services.
10/09/2010

Gottex in negative territory for first half

p { margin-bottom: 0.08in; } Gottex Fund Management Holdings Ltd has announced a net loss for first half of USD1.6bn, on gross earnings down 29% to USD32.9m. In July of this year, Gottex reported an 8.3% decline in its assets under management as of the end of June, compared with the previous quarter, at USD7.26bn.
10/09/2010

FSA fines Goldman Sachs GBP17.5m

p { margin-bottom: 0.08in; } The British financial market regulator (FSA) announced on 9 September in a statement that it has fined the US bank Goldman Sachs GBP17.5m, or over EUR21m, for failing to inform the British market that it was under investigation for fraud in the United States. The sentence was expected (see Newsmanagers of 9 September). The fine, one of the largest ever handed down in the UK, is related to the case of Abacus, a sub-prime real estate credit derivative product whose sale was the subject of an investigation by the US market regulator, the Securities and Exchange Commission (SEC). “Goldman Sachs International did not seek to conceal anything, but its deficient systems and controls are a sign that the level and quality of communication with the FSA were far below what is expected of a licensed business,” Margaret Cole, director of the FSA, says in a statement.
10/09/2010

Invesco completes integration of Van Kampen

p { margin-bottom: 0.08in; } Van Kampen Investments (USD120bn in assets) has now become a part of Invesco, which acquired the retail asset management firm from Morgan Stanley for USD1.5bn (see Newsmanagers of 20 October 2009). The operation allows Invesco to enlarge its product range in the field of value strategies on the US and Japanese equities markets. The Invesco range also gains the addition of six equities funds, which become sub-funds of the new Luxembourg Sicav Invesco Funds II; they were previously sub-funds of the Luxembourg Sicav Morgan Stanley Investment Funds. They are: Invesco US Value Equity Fund, Invesco US Small Cap Growth Fund, Invesco Japanese Value Equity Fund, Invesco Japanese Equity Advantage Fund, Invesco Global Value Equity Fund andInvesco Global Small Cap Value Fund.The six products have also been registered in the United Kingdom, along with the range from Invesco Perpetual.
10/09/2010

DZ Bank looks to external growth in private banking

p { margin-bottom: 0.08in; } The Börsen-Zeitung reports that Wolfgang Kirsch, chairman of the managing board, has announced that DZ Bank, one of the two major central entities of the German co-operative banks, has ambitions to acquire private banking portoflios which Luxembourg banks will be required by the European Union to sell off. DZ Bank, which has recently launched services for high net worth clients with the creation of DZ Privatbank, is willing to invest in the development of this activity.
10/09/2010

Rothschild & Cie Gestion appoints a head of external distribution for France and Spain

p { margin-bottom: 0.08in; } Rothschild & Cie Gestion on Friday, 10 September announced the arrival of Philippe Louisadat as director and head of external distribution for France and Spain. Louisadat, 34, began his career at Oddo Asset Management as an external distribution salesperson for France, Switzerland, Luxembourg and Spain, and was then appointed in 2007 as head of distribution for France and Spain at Oddo AM.
10/09/2010

Dexia AM chooses RiskManager app from RiskMetrics

p { margin-bottom: 0.08in; } On Thursday, Dexia Asset Management (EUR82.7bn in assets as of the end of June) announced that it has acquired a license for the RiskManager application from RiskMetrics, provided by MSCI Inc. The application will allow the asset management firm to better apprehend all risks generated by all of its asset classes and various financial instruments, through detailed and daily risk reports including reports designed specifically for alternative investment funds. RiskManager is used to calculate ad hoc indicators of market and credit risk for all mutual funds and mandates managed by Dexia Asset Management. The application also makes it possible to enlarge the track record and scenario possibilities in stress tests.
10/09/2010

Asset management at Banque Postale doing well

p { margin-bottom: 0.08in; } Banque Postale on Thursday, 9 September announced its results for first half 2010, with consolidated net banking proceeds of EUR2.64bn (+7.6% on a comparable basis, compared with the same period of 2009), and consolidated net profits for the part of the group of EUR379.5m (+31.7%). Savings client and savings account assets totalled EUR280bn (+1.6%). As of 30 June 2010, La Banque Postale Asset Management (LBPAM), the asset management firm for the bank, which manages EUR122.5bn in assets, saw outflows for first half 2010, in keeping with the overall trend for the mutual fund market. LBPAM nonetheless posted positive inflows for the first eight months of the year of EUR954.5m, “largely due to a strong increase in inflows to legal entities in the month of August 2010,” a statement says. La Banque Postale Gestion Privée, the mandated securities portfolio management firm, which is 51% owned by La Banque Postale and 49% by Oddo & Cie, in its third complete year of distribution opened nearly 3,500 new accounts as of the end of June 2010. Assets under management increased from EUR505m as of the end of 2009 to EUR722m as of the end of June 2010.
10/09/2010

BlackRock awarded a fiduciary management mandate by SPMS

p { margin-bottom: 0.08in; } BlackRock has announced that it has been awarded a fiduciary management mandate by Stichting Pensioenfonds Medisch Specialisten (SPMS), the pension fund for specialist doctors in the Netherlands, to define an investment and risk management strategy with the pension fund. BlackRock’s fiduciary activities in Benelux represent EUR20bn, a statement says.
10/09/2010

AM firm Dunas Capital launched

p { margin-bottom: 0.08in; } Leonardo Mathias, former CEO of Schroders for Spain and Portugal, has teamed up with the Portuguese financier Joaquim Luiz Gomes to found the management firm Dunas Capital, which has already been granted a license by the Bank of Portugal, and which will acquire Valor Alternativo/New Globe, in Lisbon, Funds People reports. The new firm, which is born with assets of EUR130m, will provide consulting, discretionary portfolio management, investment fund management and manager selection services. The objective is to achieve EUR300m in assets under management by the end of 2012. Dunas Capital is in negotiations with Credit Suisse to launch a UCITS-compliant fund in Luxembourg, which would be made available in Portugal, Spain, and Italy.
10/09/2010

Macquarie adds to Asian wealth management team

p { margin-bottom: 0.08in; } Macquarie Private Wealth Asia (MPWA) announced on 8 September that it has appointed three senior wealth management specialists, as additions to the bank’s expertise in Asia. James Mak, previously of JP Morgan, has been appointed as regional head for co-investments and strategic advising. Robin Harris, previously managing director of Equity Trust, has joined MPWA to lead development of strategic partnerships, while Leonard Tan, a former private banker from Morgan Stanley Private Wealth Management, has been recruited as a client advisor, specialised in South-East Asian markets.
10/09/2010

Axa Wealth International recruits a director

p { margin-bottom: 0.08in; } Richard Leeson has left Prudential International to join Axa Wealth International, as director of marketing and sales, Money Marketing reports.
10/09/2010

FrontPoint Partners recruits MD to develop Asian market

p { margin-bottom: 0.08in; } Asian Investor reports that Christophe Lee, chairman of the Hong Kong/China arm of the Alternative Investment Management Association (AIMA), has joined the hedge fund FrontPoint Partners (Morgan Stanley) in Hong Kong, as managing director in charge of developing its activities in the Asia-Pacific region. In the newly-created position, Lee, who previously worked at SHK Fund Management as CEO, will be in charge of 15 FrontPoint funds.
10/09/2010

SEC investigates funds of hedge funds

p { margin-bottom: 0.08in; } The Securities and Exchange Commission has opened an enquiry to determine if entities which charge commissions to channel subscriptions from investors to hedge funds are acquitting themselves correctly in their duty to ensure the safety of their clients’ investments and avoiding potential conflicts of interest, sources familiar with the matter say. The Wall Street Journal reports that the sweep exam by the SEC Office of Compliance Inspections and Examinations is focusing on a dozen entities, but that the scope of the investigation may be broadened to include investment advisors specialising in private equity or serving pension funds. The firms initially targeted by the SEC have assets of USD100m to USD15bn each.
10/09/2010

BNPP IP adds to sales team

p { margin-bottom: 0.08in; } From 1 September Christina Rustemeier, who has left Credit Suisse, has joined the sales team at BNP Paribas Investment Partners (BNPP IP), serving managers of funds of funds, large banks, private banks, family offices and wealth managers. The team includes two other people. In total, the sales team at BNPP IP currently includes 12 people, half of whom are in retail and half in institutional. In Germany, BNPP IP employs a total of 30 people, including former Fortis employees, led by Martin Theisinger, head of distribution Deutschland, who led Schroders Germany before becoming head of client relationship management for Germany at Fortis Investments. BNPP IP’s local asset management team in Frankfurt includes 5 people, and manages total assets of EUR7bn to EUR7.5bn, with EUR20bn as its objective within the next three years.
10/09/2010

Allianz RE acquires Triton office building in Frankfurt

p { margin-bottom: 0.08in; } Allianz Real Estate Germany GmbH has announced that it has acquired the Triton office building (29,000 square metres) in the Westend of Frankfurt for about EUR200m, on behalf of IVG Institutional Funds. The vendor is OVG Real Estate.
10/09/2010

Credit Suisse lists 13 synthetic replication ETFs in Frankfurt

p { margin-bottom: 0.08in; } Credit Suisse (Deutschland) and Deutsche Börse on 9 September announced that they had admitted 13 new Irish-registered ETFs focused on emerging countries or regions to trading on the XTF segment of the Xetra platform. Total expense ratios range from 0.50% to 0.75%. The new products bring the number of ETFs now listed on Xetra to 693. Credit Suisse says the ETFs represent a new generation, as with these products the group is launching its first synthetic replication products, unlike the other 32 funds already listed in Frankfurt, which use exclusively physical replication. The 13 funds are meant to ally the advantages of synthetic replication with the transparency of physical replication products. Synthetic replication has the advantage that it more precisely and efficiently replicates indices with low levels of liquidity, which is particularly valuable in the case of emerging markets. The composition of the portfolio will be published daily on the website. The counterparty for swaps is the Credit Suisse group itself. The new ETFs are: Name ISIN total expense ratioCS ETF (IE) on CSI 300 IE00B5VG7J94 0.50%CS ETF (IE) on MSCI South Africa IE00B4ZTP716 0.65%CS ETF (IE) on MSCI EM EMEA IE00B5W0VQ55 0.65%CS ETF (IE) on MSCI Russia IE00B5V87390 0.65%CS ETF (IE) on MSCI EM Latin America IE00B5KMFT47 0.65%CS ETF (IE) on MSCI Brazil IE00B59L7C92 0.65%CS ETF (IE) on MSCI Chile IE00B5NLL897 0.65%CS ETF (IE) on MSCI Mexico Capped IE00B5WHFQ43 0.65%CS ETF (IE) on MSCI India IE00B564MX78 0.75%CS ETF (IE) on MSCI Korea IE00B5W4TY14 0.65%CS ETF (IE) on MSCI Taiwan IE00B5VL1928 0.65%CS ETF (IE) on MSCI EM Asia IE00B5L8K969 0.65%CS ETF (IE) on MSCI Australia IE00B5V70487 0.50%

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