Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
09/02/2010

Sustainable investment in Asia underestimated

According to a study which has recently been published by Vontobel, investors tend to underestimate the potential of the Asian (ex Japan) region in the area of sustainable investment. Assets under management in investments related to sustainable development may rise from approximately USD20bn currently to about USD4trn by 2015. The figure of USD20bn represents only 0.4% of assets under management in sustainable investments worldwide, the study points out. On the basis of information received and evaluated, “for the first time, we are giving investors a way to reliably identify factors for success in sustainable investment in Asia,” the author of the study, Falko Paetzold, says.
09/02/2010

Severe depreciation of DEGI Global Business portfolio

Hartmut Leser, one of the directors of Aberdeen Asset Management Deutschland, has confirmed to the Börsen-Zeitung that the value of the portfolio of the open-ended real estate fund DEGI Global Business (EUR358m as of the last reporting) has been revised downward by 21.6%. The fund, which has encountered liquidity problems, was obliged to suspend redemptions in mid-November 2009.
09/02/2010

ETFs helped to offset outflows from open-ended funds in 2009

As of the end of December, assets under management at fund management firms which provide statistics to the BVI association of management firms totalled EUR1.7012trn, compared with EUR1.5063trn one year earlier, of which EUR725.6bn, up from EUR641.7bn, were in institutional funds, while EUR650.2bn, up from EUR575.8bn were in open-ended funds, and EUR325.5bn, up from EUR288.9bn, in mandates. Only EUR2.1bn of the total increase of EUR74.4bn in assets under management in open-ended funds came from net subscriptions. In other words, ETF funds, which posted net inflows of EUR10.3bn, were a strong sustaining force for the sector, which was hit by EUR30bn in outflows from money market funds. In total, equity and mixed funds attracted a net total of EUR14.6bn and EUR6.4bn, respectively, while hedge funds posted net inflows of EUR3.2bn, the same amount as open-ended real estate funds. Finally, bond funds saw net redemptions of EUR0.9bn.
09/02/2010

Major outflows from UBS in October-December

In fourth quarter, UBS has posted anet profits of CHF1.205bn, compared with a loss of CHF564m in third quarter. For 2009 as a whole, the group has seen losses of CHF2.736bn, compared with CHF21.292bn in 2008. In October-December of last year, net outflows of new money totalled CHF33.2bn from the Wealth Management & Swiss Bank division, CHF12bn from Wealth Management Americas, and CHF11bn for Global Asset Management. Invested assets totalled CHF2.233trn as of 31 December 2009, an increase of 3% in annual terms, and 1% lower than as of 30 September (CHF2.258trn). This decline is due both to net redemptions and negative currency effects, which were partly offset by performance effects. In fourth quarter, the Global Asset Management division posted pre-tax profits of CHF284m, compared with CHF130m in July-September, as a reduction in personnel costs has more than offset the decline in revenues.
09/02/2010

Credit Suisse recruits Dan Draper

Credit Suisse has announced that Dan Draper, formerly a managing director and global head of exchange traded funds (ETFs) at Lyxor Asset Management, will join Credit Suisse in its Asset Management business as managing director and head of ETFs. He will start later this spring, be based in London and report to Oliver Schupp. This appointment reflects Credit Suisse’s commitment to the expansion of its ETF platform.
09/02/2010

HDF Finance adapts three funds to UCITS III-compliant format

HDF Finance on 1 January converted three long-only Aria funds of funds into UCITS III-compliant funds. The products are the HDF Global Equity, HDF Europe Equity, and HDF Emerging Markets Equity. The three funds aim to achieve outperformance by investing at least 60% of assets in long-only funds and a maximum of 40% in long/short funds, in their respective investment universes. The adaptation of the funds will allow HDF Finance to more effectively make these funds available to investors.
09/02/2010

Chinese sovereign fund using ETFs

China Investment Corporation, the Chinese sovereign wealth fund, is using exchange-traded funds to take positions on sectors ranging from healthcare to gold, according to a filing with the Securities and Exchange Commission in the US. About a quarter of its US portfolio was in ETFs, many of them provided by BlackRock’s iShares division.
09/02/2010

State Street selected by Wellington West

The American management firm State Street Corporation and the Canadian specialised provider of transfer agency services IFDS on 8 February announced that they have been selected by Wellington West Asset Management, Inc. to provide a range of investment services to their group. State Street will provide fund accounting and administration services, custodial services and fiduciary services for the launch of a new range of funds by Wellington West. Wellington West, founded in 1993, has become one of the largest independent investment firms practising in Canada, and one of the fastest-growing firms in the industry, with nearly CAD8.8bn in assets under administration.
09/02/2010

East Capital temporarily closes a fund

East Capital has temporarily closed one of its funds, the Baltikumfonden, which is a part of the Swedish defined-contribution pension system, known by the name PPM, IPE.com reports, relaying an article in the Swedish newspaper Pensionsnyheterna. The closure follows a sizeable wave of subscriptions last month, which managers were hard-put to place due to the limited size of the equities markets in the Baltic countries.
09/02/2010

BlackRock prepares to launch seven iShares country funds

On 29 January, BlackRock notified the SEC that it plans to launch seven ETF country funds under the iShares brand by 7 March. These products will replicate MSCI country indices. The commission rates for the funds have not yet been determined. The iShares products are the MSCI USA Index Fund, MSCI Brazil Small Cap Index Fund, MSCI Egypt Capped Investable Market Index Funds, MSCI Ireland Capped Investable Market Index Fund, MSCI Russia Capped Index Fund and MSCI Philippines Investable Market Index Fund.
09/02/2010

Six new ETF products launched by Fist Trust and Global X

Mutual Fund Wire reports that Global X Funds has registered four ETF funds with the SEC based on metals. The products are the Copper Miners, Gold Miners, Platinum Miners and Silver Miners funds, all of which will be managed by Bruno del Ama and José Gonzalez. First Trust, meanwhile, has announced the forthcoming launch of its fifth and sixth ETFs, the First Trust Developed International Markets AlphaDEX Fund and the First Trust Emerging Markets AlphaDEX Fund, both of which will be actively managed.
09/02/2010

Launch of a new ETF based on metals

ETF Securities USA has filed with the Securities and Exchange Commission for permission to launch a U.S.-based ETF backed by a basket of physical gold, silver, platinum and palladium.The product will be named ETFS Physical PM Basket Shares.
09/02/2010

BlackRock is now the largest investor in Spanish equities

After the acquisition of iShares, BlackRock holds nearly EUR9bn in Spanish equities, making it the largest shareholder on the Spanish market, dethroning Goldman Sachs, Cotizalia reports. In the past few days, the US-based management firm has informed the CNMV that it controls 4.77% of Santander, which represents about EUR3.6bn at current share prices, as well as 4.45% of BBVA, or EUR1.6bn. In addition to this, it holds stakes of 3.76% in Telefónica, and 3.53% in Repsol. BlackRock also holds a 4.195 stake in Abengoa and 3.99% in Técnicas Reunidas, as well as 9.01% of Gamesa (EUR203m). In the United States, BlackRock controls 5.6% of Apple, 5.9% of Google, 5.2% of Microsoft and 6.3% of HP, as well as 5.76% of Exxon Mobil.
09/02/2010

Short-selling of European ETFs has doubled

Borrowing of European ETFs by short sellers more than doubled in 2009, according to Data Explorers’ Securities Lending Yearbook. The most shorted ETF was iShares FTSE 250 tracker, which, on average, had USD79m of stock lent out throughout last year.
09/02/2010

Barclays Cap joins ETFX

Barclays Capital (Barclays Cap) has joined BofA Merrill Lynch, Citi, and Rabobank as a participant in the ETF Exchange (ETFX) platform launched by ETF Securities (ETFS). ETFX offers 21 equities ETF funds focused on natural resources, as well as double-short ETFs.
09/02/2010

Hedge funds in search of effective administrators

Hedge Week reports that a recent study by TKS Solutions has found that 10% of hedge funds have sought to replace their administrators in the past 12 months, due to troubles related in large part to the accuracy of reporting. Some fund administrators are still using manual procedures, the study finds, which is a source of excess cost and errors.
09/02/2010

Liontrust creates a position for a head of retail

Liontrust Asset Management has appointed John Ions to the newly-created position of head of retail. The appointment aims to reconstruct the firm’s activities, following the resignations of the managers Jeremy Lang and William Pattison in early 2009, Money Marketing reports. For fourth quarter 2009, Liontrust has posted a net outflow of GBP131m, of which GBP33m came from the retail product range. Ions was previously chief executive of Tactica Fund Management, a position he held from the inception of the firm in 2005, and previously served as joint managing director at SG Asset Management.
09/02/2010

Comas veterans reunite

Mahraj Mattoo, former head of Comas (the fund of hedge fund firm liquidated by Commerzbank), has founded Commonwealth Asset Management in London, not to be confused with the eponymous real estate fund management firm in the United States, efinancialnews reports. The new entity has taken on board the former directors of Comas, including Edward Hands (head of portfolio management) and Carol Barazzone (head of business development). The new firm will be operational by the end of third quarter.
09/02/2010

Franklin Templeton launches offshore funds in India

Following several of its competitors (including BlackRock, Fidelity, and JP Morgan), Franklin Templeton has decided to launch its first offshore products on the Indian market. Asian Investor reports that Franklin Templeton is planning to offer a range of funds domiciled in Europe in the next three to six months, via feeder mutual funds. The future evolution of Indian legislation may work in favour of distributors of offshore products. However, Indian regulations still do not allow the use of derivative products in funds available to either retail or institutional investors. Franklin Templeton is therefore unable to offer its range of Luxembourg-domiciled mutual funds, which often contain derivative products, and will therefore be obliged to limit itself to traditional offshore funds, which do not necessarily have the best track records.
08/02/2010

Dexia se sépare du patron de son activité banque privée au Luxembourg

La banque s’est séparée du patron de ses activités de banque privée au Luxembourg, Eric Le Vernoy, et de deux autres cadres, rapporte l’Agefi. Les intéressés montaient sur pied un projet personnel «incompatible avec leurs responsabilités au sein de la banque», ajoute le quotidien.
08/02/2010

Résultats annuels en progression pour Julius Baer

Les actifs sous gestion de la clientèle privée de Julius Baer ont progressé l’an dernier de 19% pour s'établir à 154 milliards de francs suisses, se rapprochant ainsi de leur niveau de fin 2007 (159 milliards). La collecte nette s’est élevée à 5,1 milliards de francs suisses tandis que l’effet marché a eu un impact positif de 19,5 milliards de francs suisses. «Les afflux globalement toujours soutenus et robustes – provenant avant tout des marchés émergents, en particulier d’Asie – ont été partiellement contrebalancés par les sorties dues à l’amnistie fiscale italienne et au retrait progressif des activités aux Etats- Unis», précise Julius Baer dans un communiqué.Les actifs sous conservation ont fait un bond de 37% à 87 milliards de francs suisses, sous l’effet d’une collecte nette de 13,5 milliards de francs suisses et d’un effet marché de 10,5 milliards.Le bénéfice net du groupe s’est inscrit en hausse de 7% à 473 millions de francs suisses. Lors de son assemblée générale du 8 avril prochain, le conseil d’administration proposera un dividende de 0,40 franc suisse par action.
08/02/2010

Ivan Pictet quittera ses fonctions fin juin

Au 30 juin, Ivan Pictet arrêtera son activité d’associé senior de la banque Pictet & Cie (373 milliards de francs suisses d’encours), fonction qu’il occupait depuis 2005. L’intéressé (66 ans le mois prochain), sera remplacé comme associé senior par Jacques de Saussure, associé depuis 1987.D’autre part, la banque a nommé associés à compter du 1er janvier 2011 Marc Pictet, qui est directeur de Pictet Europe (Luxembourg), et Bertrand Demole, qui dirige l'équipe hedge funds à Genève. Le collège des associés comptera alors huit membres. Actuellement, ses sept membres sont Ivan Pictet, Jacques de Saussure, Nicolas Pictet, Philippe Bertherat, Jean-François Demole, Renaud de Planta et Rémy Best.
08/02/2010

Julius Baer a les moyens d'opérer quelques acquisitions

Boris Collardi, le CEO de Julius Baer, a annoncé que la banque à l’intention d’installer la plate-forme de ses activités européennes en Allemagne, rapporte la Börsen-Zeitung. D’autre part, il a indiqué que l'établissement dispose cette année d’un milliard de francs suisses pour la croissance externe, principalement en Suisse.
08/02/2010

Un nouvel acteur dans les fonds de fonds arrive à Genève

Selon L’Agefi suisse, un nouvel acteur spécialisé dans les fonds de fonds alternatifs s’est installé à Genève: Gems Management Limited Nassau. «Nous ouvrons ici un middle office pour y loger à moyen terme une partie de nos activités de trading», explique Laurent Elkrief, responsable de ce développement, qui précise que la société a environ 3 milliards de dollars investis dans des fonds de fonds alternatifs.
08/02/2010

Henderson renonce à la marque New Star

Henderson Global Investors a décidé de retirer le nom de New Star des produits de sa gamme à partir d’avril, rapporte The Sunday Times. Cette décision n’aurait pas été prise parce que la réputation de New Star a été ternie par la découverte d’un trou dans ses comptes en 2008 mais parce qu'à présent tous les fonds sont sur la même plate-forme et doivent avoir une dénomination unique. Henderson a acheté New Star pour 115 millions de livres en décembre 2008.
08/02/2010

Baisse des actifs de Liontrust au quatrième trimestre

Les actifs sous gestion de Liontrust se sont inscrits en baisse d’environ 8% au quatrième trimestre pour s'établir à 1,2 milliard de livres, selon Investment Week. La décollecte s’est élevée à 131 millions de livres durant le trimestre sous revue.Les produits des commissions ont totalisé au quatrième trimestre 3,33 millions de livres contre 7 millions sur les trois derniers mois de 2008.Le groupe a parallèlement annoncé un vaste plan de réduction des coûts qui passe par la fermeture des bureaux nord-américains, la baisse des dépenses d’exploitation et la restructuration des entités britanniques, avec à la clé l’introduction du statut de partnership à responsabilité limitée.Liontrust a par ailleurs annoncé le lancement d’un fonds crédit de performance absolue, un nouveau compartiment qui sera intégré dans la sicav luxembourgeoise.
08/02/2010

Brevan Howard ouvre son bureau à Genève

Brevan Howard, le plus gros hedge fund européen, prévoit d’ouvrir un bureau à Genève et d’offrir à ses employés la possibilité de quitter Londres pour s’y installer, dans un contexte d’incertitude au sujet de la fiscalité au Royaume-Uni, rapporte le Financial Times. Dans une lettre aux clients lue par le quotidien financier britannique, la société de gestion indique que des bureaux à Genève ont été acquis et qu’ils allaient ouvrir prochainement.
08/02/2010
Fonds

Grail compte transformer un mutual fund en ETF

Alors qu’un nombre croissant de gestionnaires de hedge funds s’efforcent de prendre pied sur le marché des ETF, Grail Advisors, un gestionnaire d’ETF, va tenter de transformer un mutual fund existant en ETF géré de manière active, rapport The Wall Street Journal. Grail est en pourparlers avec deux gestionnaires traditionnels pour convertir un fonds qu’ils gèrent ; il devrait pouvoir révéler dans 60 à 90 jours de quelles sociétés de gestion il s’agit.
Fonds
08/02/2010

16,5 millions de dollars de bonus pour le patron de JP Morgan

En sus de son salaire annuel de 1 million de dollars, le PDG de la banque américaine JP Morgan se verra attribuer un bonus de 16,5 millions de dollars au titre de l’année 2009, relève la Tribune. Ce montant lui sera versée en actions et options et sera bloqué jusqu’en janvier 2013.

Sujets d'actualité

Tous les sujets