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28/06/2010

Fidelity International recrute en Italie

Fidelity International renforce ses équipes en Italie avec l’arrivée de Cosmo Schinaia en tant que directeur des ventes professionnelles et institutionnelles pour l’Italie, rapporte Bluerating. Il était précédemment au Crédit Agricole Asset Management Sgr. Cosmo Schinaia fera partie de l'équipe dirigée par Paolo Federici, responsable de la distribution des produits Fidelity en Italie.
28/06/2010

Edmond de Rothschild Capital Partners renforce ses équipes

La société Edmond de Rothschild Capital Partners qui gère trois fonds dédiés aux LBO de croissance a annoncé, vendredi 25 juin, le renforcement de ses équipes. Aymeric Marraud des Grottes a été nommé directeur d’investissement tandis que Thomas Moussallieh est nommé chargé d’affaires et Marie Londero, analyste.Arrivé en mai 2010, Aymeric Marraud des Grottes, 32 ans, occupait auparavant la fonction d’ «associate» chez JPMorgan, en banque privée et en conseil aux entreprises familiales. Thomas Moussallieh, 25 ans, était précédemment analyste chez Edmond de Rothschild Capital Partners, où il a débuté sa carrière en juin 2008. Marie Londero, 24 ans, a rejoint Edmond de Rothschild Capital Partners en avril 2010.
28/06/2010

Allianz Alternative AM sur le point d'être vendu

Selon Les Echos, la société de multigestion alternative du groupe Allianz, Allianz Alternative Asset management (AAAm), en vente, serait convoité par Nexar Capital, le «hedge fund» formé par des anciens de SGAM AI. Rien n’est signé mais les discussions seraient dans leur dernière ligne droite, pour, peut-être, une conclusion cet été. Nexar Capital, qui a des bureaux à Paris et New York, a deux activités principales, les fonds de «hedge funds» et fonds d’arbitrage de volatilité. En prenant possession de AAAm, il augmenterait notablement la première de ses deux activités, tout en renforçant son positionnement sur la clientèle institutionnelle.
25/06/2010

Somangest recrute un ancien de Quilvest & Associés

La société de gestion Somangest vient de recruter Olivier Flornoy en tant que directeur général adjoint et gérant de portefeuilles au sein du département de gestion privée dirigé par Frédéric Maitre. L’intéressé, âgé de 49 ans, était depuis 2005 associé fondateur de Quilvest & Associés, société de gestion du groupe Quilvest. Il avait précédemment effetué une grande partie de sa carrière au sein du groupe HSBC. Fondée en décembre 1990 par Jacques Pailloux et dirigée par son fils Patrice depuis 1998, Somangest est une société de gestion indépendante spécialisée dans la gestion de portefeuilles de valeurs mobilières. Elle développe une offre globale de solutions d’investissement composée de mandats, OPCVM et contrats d’assurances-vie à destination d’une clientèle d’investisseurs privés et institutionnels depuis fin 2009.
25/06/2010

Carmen Reschke quitte la direction générale de KanAm Grund

La société de gestion de fonds immobiliers KanAm Grund a annoncé que Carmen Reschke a quitté au 31 mai ses fonctions de responsable de la comptabilité, de la fiscalité, des financements et de la gestion du risque dans les sociétés KanAm Grund KAG et KanAm Grund Spezialfondsgesellschaft pour prendre de nouvelles fonctions dans le secteur de l’immobilier.Ses responsabilités sont désormais réparties entre les quatre autres membres de la direction générale, Hans-Joachim Kleinert, Matti Kreutzer, Olivier Catusse et Heiko Hartwig.
25/06/2010

Bärbel Schomberg (ex Degi et Aberdeen) s'est mise à son compte

Avec Karl Ohl, Bärbel Schomberg, qui a démissionné précipitamment de ses fonctions de présidente du comité exécutif d’Aberdeen Immobilien KAG et de head of Continental Europe d’Aberdeen Property Investors (lire notre article du 2 mars) a créé il y a quelques semaines la société de conseil Schomberg & Co Real Estate Consulting GmbH à Koenigstein, près de Francfort. Cette nouvelle société couvre trois secteurs d’activité : stratégies d’investissement, gestion de fonds et gestion d’actifs.
25/06/2010

Promotion pour Volker Noack chez Union Investment Real Estate

Après avoir dirigé l’activité gestion de fonds, Volker Noack devient membre de la direction générale d’Union Investment Real Estate (UIRE) où il sera chargé, outre de la gestion des fonds, des finances et des participations.La direction générale, sous la responsabilité de Reinhard Kutscher (président), comprend deux autres personnes, Frank Billand (Asset Management Allemagne, AM Shopping-Center, AM Hotel, gestion de projets) et Karl-Josef Hermanns-Engel (AM Europe, AM Americas, AM Asia/Pacific).
25/06/2010

L'état-major de Deka est finalement confirmé pour cinq ans

Alors que plusieurs rumeurs faisaient état ces derniers temps de divergences d’opinion entre actionnaires, les caisses d'épargne et les Landesbanken, ainsi qu’entre les actionnaires et le directoire, le conseil d’administration de DekaBank a reconduit pour cinq ans le président Franz S. Waas ainsi que les membres du directoire Oliver Behrens (responsable des fonds de valeurs mobilières) et Friderich Oelrich (directeur financier), à compter du 1er janvier 2011. Les milieux financiers spéculaient sur une prorogation de seulement deux ans. Maintenant, ils peuvent se demander quelles concessions Franz Waas ont acceptées en matière de réduction des prises de risques.
25/06/2010

M&G to launch multi-asset class fund

Investment Week reports that M&G is planning to grant its chief economist and strategist, Stephen Andrews, his first position as principal manager, with the launch of a multi-asset class income fund, which will aim for returns of 4.4.5% per year. Andrews is a member of the multi-asset class team, with David Jane and George Tsinonis. He is already deputy manager of the M&G Cautious Multi Asset fund (GBP281m), whose principal manager is David Jane.
25/06/2010

Hedge fund bill to go to vote in late September

Jean-Paul Gauzès, reporter for the proposed EU hedge fund legislation, has told Reuters that following the breakdown of negotiations to reach an agreement between European parliament members and member states before summer, a vote on the bill has been postponed until the second plenary session in September, to be held in Strasbourg from 20 to 24 September. Further meetings are planned in the meantime, this time under the Belgian EU presidency, on 28 June, 7 July, and in mid-July.
25/06/2010

Vanguard to launch 19 funds with ETF share classes

On Thursday, Vanguard announced plans to extend its range of tracker funds, with the launch of 19 equities and bond products with ETF share classes. The products were registered with the SEC the same day. In addition, the asset management firm is planning to issue ETF shares in its flagship Vanguard 500 Index Fund. The new ETFs will have “substantially” lower fees than competing funds. Next year, the new funds, along with 20 other new ETFs, will be added to the Vanguard equities product range, with core funds replicating indices from a number of providers, index-based municipal funds for the bond range, and an international real estate fund with an ETF share class.
25/06/2010

Vanguard plans S&P 500 ETF

StartFragment--> Vanguard Group plans to introduce an exchange-traded fund based on the S&P 500-stock index and 19 new index funds with corresponding ETFs, says the WSJ.Vanguard’s S&P fund will be the third in the U.S. to track that stock index.
25/06/2010

Schroders adds two in-house funds to GAIA Platform

The Schroder GAIA Opus Multi Strategy and the QEP Global Absolute, UCITS-compliant hedge funds managed by Schroders itself, have joined the Egerton European Equity and Sloane Robinson Emerging Markets funds on the GAIA platform from Schroders, Expansión reports. The Schroder GAIA Opus Multi Strategy is, as its name indicates, a multi-strategy fund of funds. Selection of managers and allocation to various strategies is provided by NewFinance Capital, the fund of hedge funds management affiliate of Schroders. Liquidity is weekly, and the product aims for performance 200-600 basis points above the Eonia, with volatility of 3% to 7%. The QEP Global Absolute is a long/short fund with an absolute performance objective of 8-10% per year.
25/06/2010

Deka board voted in for new five-year term

Though a number of rumours had recently hinted at differences of opinion between shareholders, the savings banks and the Landesbanken, and between shareholders and the managing board, the supervisory board at DekaBank has re-elected chairman Franz S. Waas and board members Oliver Behrens (head of securities funds) and Friedrich Oelrich (CFO) for a new five-year term, beginning on 1 January 2011. Financial industry circles were expecting them to be re-elected for only two years. Now, they may wonder what concessions Waas agreed to in terms of risk reduction.
25/06/2010

Multiple departures from Stark Investments

According to Financial News, five out of 15 partners are in the process of leaving Stark Investments, a USD4.4bn hedge fund firm based in the United States. Assets are understood to have fallen by almost half over the past 18 months.
25/06/2010

US managers see market as undervalued

According to the most recent quarterly survey by Russell Investments, nearly half (47%) of US managers surveyed estimate that the market is undervalued, while only 28% thought so in the March survey. Only 9% see the market as overvalued. “Managers estimate that the market is undervalued, but they would also like to see a very significant increase in profits and some improvement in the job market before taking risks,” says Mark Eibel, director and head of client investment strategies at Russell Investments. 73% of managers cite economic trouble in Europe as a significant risk to the performance of US equities in the next 12 months. A vast majority of managers, showing a high sensitivity to risk, have given more weight to defensive sectors. Interest in money markets rose 10 percentage points to 16%, from the all-time low observed in March of this year. Treasuries gained only 6 points to 12%, while consumer sectors and utilities gained 5 points and 9 points, respectively. The IT sector lost 10 points, but remains the most popular, with 69% positively inclined.
25/06/2010

Henderson seeks to develop relations with investment advising firms

Henderson Global Investors, which manages more than USD90bn in assets, has announced the appointment of Nancy McNally as director of relations with investment advising firms in North America. McNally, who previously worked at Gartmore, began in her new position on 1 June. Henderson, which is well-placed in the institutional markets in the United Kingdom and Europe, is seeking to gain a foothold in the US and Canada markets, particularly for its real estate and hedge fund products.
25/06/2010

Source tops USD6bn in assets

In a statement, the ETF and ETC provider Source announced that it has assets under management of over USD6bn, after 14 months in existence. This amounts to an increase of 86% since the beginning of this year, due to heavy inflows to several of its products. The two Source ETFs specialised in emerging markets saw rapid growth in the month of May. The Source ETF replicating the MSCI Emerging Markets index, launched in May, already has USD869m in assets, while the RDX (Russia) fund has gained USD272m, Source says. In emerging markets, assets under management now total over USD1.1bn. The ETF DJ EURO STOXX 50 has gained nearly USD575m since the beginning of the month of June, bringing its assets under management to more than EUR1bn, up 150% since the beginning of the year.
25/06/2010

Chris Lee joins Deutsche Bank

Asian Investor reports that Chris Lee, who left UBS last March, will join Deutsche Bank has head of retail sales and private banking. In this position he replaces Nitin Nath. At UBS, Lee was head of equities risk management products, and in this position he was one of the foremost specialists in the equities derivative market, particularly publicly-traded products. Lee will also be head of the db-x structuring platform.
25/06/2010

Strong inflows to ING IM flagship money market fund

The AAA-rated flagship money market fund from ING Investment Management ING (L)Liquid Euro has seen about EUR800m in inflows since the beginning of the year, and now has about EUR4bn in assets, says Vincent Juvyns, money market strategist at ING IM. Juvyns admits, however, that the fund, which has about half of all assets in ING IM money market funds, is not representative of all its strategies, as some funds have also seen redemptions, particularly in Belgium. The Liquid, however is aimed at institutional and industrial clients, who are more attentive than ever to preservation of capital and returns, as well as liquidity. The fund maintains a permanent minimum cash allocation of 20%, while also limiting the percentage of less liquid assets in the portfolio. Meanwhile, the fund has a diversified presence both in terms of clients (businesses, institutionals, and pension funds) and of regions, with about EUR1.5bn from Belgium, but also about EUR1bn from the Netherlands, and EUR800m from France.
25/06/2010

Bärbel Schomberg (ex Degi et Aberdeen) goes solo

With Karl Ohl, Bärbel Schomberg, who suddenly quit her job as chair of the executive board at Aberdeen Immobilien KAG and head of Continental Europe at Aberdeen Property Investors (see Newsmanagers of 2 March), a few weeks ago founded the consulting firm Schomberg & Co Real Estate Consulting GmbH in Koenigstein, near Frankfurt. The new firm covers three areas of activity: investment strategy, fund management, and asset management.
25/06/2010

Volker Noack promoted at Union Investment Real Estate

After leading its fund management activities, Volker Noack has become a member of the board at Union Investment Real Estate (UIRE), where he will oversee finance and participations, in addition to fund management. The board has two other members, in addition to chairman Rienhard Kutscher: Frank Billand (Asset Management Germany, AM Shopping-Center, AM Hotel, project management) and Karl-Josef Hermanns-Engel (AM Europe, AM Americas, AM Asia/Pacific).
25/06/2010

Aabar acquires nearly 5% of UniCredit from IPIC

The Abu Dhabi sovereign fund Aabar, which owns more than 9% of Daimler (see Newsmanagers of 23 March and 17 November 2009), on Thursday notified the Italian regulator Consob that it has acquired a 4.991% stake in UniCredit from the International Petroleum Investment Company (IPIC), which owns a majority stake in Man Ferrostaal, 37.5% of Cepsa, and 19% of ÖMV. The transaction was completed on 16 June. According to the website of the Italian banking group, the largest shareholders are Mediobanca, with 5.143%, Central Bank of Libya (4.998%), and the savings banks foundation of Verona, Vicenza, Belluno and Ancona (4.984%).

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