Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
27/04/2009
Fonds

UBS proroge le gel de ses fonds immobiliers

Compte tenu de la situation actuelle du marché et de l'évolution de la liquidité de ces produits, UBS Allemagne a annoncé vendredi qu’elle prolonge de six mois le gel des remboursement de ses fonds immobiliers offerts au public UBS (D) Euroinvest Immobilien et UBS (D) 3 Kontinente Immobilien, rapporte la Börsen-Zeitung.
Fonds
27/04/2009

Hugh Osmond et Peter Hargreaves envisagent d'émigrer pour raison fiscales

Deux des entrepreneurs les plus emblématique du pays envisagent de quitter le Royaume-Uni pour protester contre le nouveau taux d’imposition à 50 % prévu par le Chancelier de l’Echiquier Alistair Darling. Selon The Sunday Times, Hugh Osmond, à la tête d’un empire allant des pubs aux assurances, menace de s'établir en Suisse. Quant à Peter Hargreaves, qui gagne 10 millions de livres par an et qui a co-fondé Hargreaves Lansdown, il envisage de s’implanter soit dans l'île de Man soit à Monaco. Robert Pfeiffer, associé de Compass Advisers estime que son cabinet spécialiste des fusions-acquisitions pourrait s'établir à Genève.
27/04/2009

SocGen pourrait avoir perdu 5 milliards d?euros avec SGAM AI

Selon le quotidien Libération, Société Générale pourrait enregistrer entre 5 et 10 milliards d’euros de nouvelles pertes à cause d’investissements hasardeux, cette fois-ci en provenance de sa filiale de gestion alternative d’actifs, Société Générale Asset Management Alternative Investments (Sgam AI). La banque dément formellement et indique que «les pertes de SGAM au titre de l’exercice 2008 se sont élevées à 258 millions d’euros après impôt», comme indiqué lors de la publication de ces résultats en février. Le quotidien indique toutefois que Daniel Bouton, le président, et Frédéric Oudéa, le directeur général, ont «donné des ordres pour faire le ménage» dans cette filiale, dont «les principaux responsables ont été poussés discrètement au départ ou sont sur le point de l'être».
27/04/2009
Fonds

Hedge funds : la France hostile au projet de directive

Selon Les Echos, la France, mais aussi l’Allemagne, le Luxembourg, l’Italie et l’Espagne ont déjà averti qu’ils s’opposeraient, s’il était publié en l'état, au texte que doit adopter la Commission européenne mercredi. De leur point de vue, le texte ne répond nullement aux préoccupations de stabilité financière exprimées au G20 début avril et risque d’aggraver la situation en facilitant la commercialisation en Europe de fonds offshore issus de juridictions non coopératives.
Fonds
27/04/2009

Suisse - La banque Syz en position d?acquéreur

Dans un entretien à L"Agefi suisse, Alfredo Piacentini, associé de la banque genevoise, indique que les fonds propres de la banque s"élèvent à 400 millions de francs suisses, «ce qui nous permet à la fois d"observer autour de nous des opportunités d"acquisition et d"investir dans les structures existantes. Nous avons quelques projets en cours dans le domaine onshore en Europe, sur lesquels nous ne pouvons pas encore nous exprimer en détail. De même nous poursuivons nos engagements de gérants. Il y a beaucoup de mouvements actuellement en Suisse, ce qui offre des opportunités d"achat. Des structures se ferment. Et nous sommes en pole position pour en profiter? ». L"an dernier, la Banque Syz & Co, a vu son bénéfice net reculer de 79% à 32,6 millions de francs, ses actifs sous gestion passant de 30 milliards de francs fin 2007 à 18,5 milliards fin 2008.
27/04/2009

France - L?immobilier défiscalisé en difficulté

La Tribune consacre un dossier à l"investissement immobilier défiscalisé, dans son édition du 24 avril. Après les problèmes liés à la loi Robien, c’est au tour des résidences de tourisme de mettre en difficulté les investisseurs privés, souligne le quotidien, citant notamment quatre exemples : Mona Lisa Hôtels et résidences, Maisons de Biarritz vacances, Transmontagne et Rhode Tourisme (Résid’Hôtel).
27/04/2009

Russell lance huit indices en temps réel

Russell Investments indique avoir mis en ligne à l’adresse www.russell.com/indexes/default.asp huit indices «mondiaux» en temps réel supplémentaires : large cap, small cap, ex-U.S. large cap, ex-U.S. small cap ainsi que les indices de style value et growth style correspondant aux segments small-cap et large-cap ex-U.S. Ces indices offrent une récapitulation sur une semaine, un mois et un an pour chaque segement, avec les plus hauts et les plus bas du jour et de la période écoulée depuis le début de l’année (year-t-odate). Les données financières sont fournies par SIX Telekurs. D’autres indices mondiaux seront de la sorte disponibles en temps réel ultérieurement. Jusqu'à présent, des données en temps réel existaient pour sept des principaux indices américains, tous des produits Russell.
27/04/2009
Fonds

Banco Madrid ferme Copernico

Banco Madrid a annoncé la liquidation de son unique hedge fund, Copernico, dont l’encours était tombé fin mars à 21.000 euros, rapporte Funds People. Ce montant est le reliquat après de remboursements de 54 % à fin décembre.
Fonds
27/04/2009

Des ETF à Wall Street avec l'accent espagnol

Les deux Madrilènes Bruno del Ama et José Carlos González ont créé il y a plus d’un an à New York la société de gestion Global X Funds qui a obtenu son agrément de la SEC au bout de six mois. Son premier fonds est le FTSE Colombia 20 lancé en association avec Interbolsa, le principal courtier colombien, rapporte Cinco Días. Global X compte lancer ensuite des ETF sur d’autres marchés émergents comme le Pérou, l’Egypte et les Philippines, des produits de niche que personne d’autre ne proposer aux Etats-Unis.
27/04/2009

Cuomo exige une enquête sur les pressions concernant BofA

Andrew Cuomo, le procureur de l’Etat de New York, a demandé au régulateur fédéral d’enquêter sur les pressions exercées par l’ancien secrétaire au Trésor Henry Paulson et le président de la Fed Ben Bernanke sur Kenneth Lewis, le CEO de Bank of America (BofA) pour qu’il ne rende pas publics les problèmes financiers de Merrill Lynch dont BofA était en train de négocier l’acquisition. Selon The Wall Street Journal, les deux hommes avaient insisté pour la fusion se fasse malgré la découverte de nouvelles pertes de plusieurs milliards de dollars chez Merrill, soulignant que les aides publiques étaient à ce prix. La porte-parole de Ben Bernanke a démenti, soulignant que personne à la Fed n’a donné de conseils ou de consignes en matière de communication.
27/04/2009

?Net? victims of Madoff fraud will not be required to reimburse proceeds

Irving Picard, the court-appointed trustee for Bernard Madoff’s business activities, stated on Thursday that he would not claw back money which victims of the fraud had received in the past if the investors in question are ?net losers? on the fraud overall. This means that Picard will not recover the entirety of the USD735m which he called on 223 investors to return last week.
27/04/2009

Switzerland calls for UBS lawsuit to be dropped

The Swiss president, Hans-Rudolf Merz, has asked the US Secretary of the Treasury, Timothy Geithner, to drop a lawsuit against UBS clients, in exchange for a new agreement on taxation which the two countries are in the process of negotiating, the Financial Times reports.
27/04/2009

KKR seeks help from investors

Kohlberg Kravis Roberts has asked its investors to contribute EUR730m to support distressed companies belonging to its 2005 European fund, the Financial Times reports. Other private equity firms are expected to follow suit.
27/04/2009

Russell launches eight real-time indexes

Russell Investments has announced that it has released eight new ?global? real-time indexes, available at www.russell.com/indexes/default.asp: large cap, small cap, ex-U.S. large cap, ex-U.S. small cap, and value and growth style indexes covering the small cap, large cap and ex-U.S. Segments. The indexes offer weekly, monthly and yearly recapitulations for each segment, with the highest and lowest levels of the day and the year to date. Financial data for the indices is provided by SIX Telekurs. Other real-time global indexes will be made available subsequently.Previously, real-time data had existed for seven of the major US indexes, all of them Russell products.
27/04/2009

SocGen may have lost EUR5bn at SGAM AI

According to the newspaper Libération, Société Générale may announce EUR5bn to EUR10bn in new losses due to high-risk investments, this time at its alternative asset management affiliate Société Générale Asset Management Alternative Investments (SGAM AI). The bank formally denies the reports, and states that ?losses at SGAM for the 2008 fiscal year total EUR258m after taxes,? as stated in its publication of results in February. The newspaper reports, however, that Daniel Bouton, chairman, and Frédéric Oudéa, CEO, have ?ordered a house-cleaning? at the affiliate, whose ?top directors have either been discreetly pressured into leaving, or are about to do so.?
27/04/2009

Société Générale denies allegations of further losses

Société Générale has issued a formal denial of claims in the newspaper Libération that the bank has undergone further losses related to activities at SGAM AI. Libération has confused losses with the total volume of assets transferred in 2008 from OPCVM funds at SGAM to Société Générale. The total volume of assets transferred, to ensure the liquidity of funds and protect shareholders, was EUR11.2bn; these assets have subsequently been actively managed to reduce this exposure, according to Société Générale. Losses at SGAM in 2008 totalled EUR258m after taxes, a figure which has no resemblance to those alleged by the newspaper, the bank states.
27/04/2009

Davegårdh & Kjalls launches an ecological fund

Last Monday, the Swedish management firm Davegårdh & Kjälls launched its third fund, entitled Sol, Vind & Vatten (sun, water, and earth), Privata Affärer reports. In the first three days, the entity received SEK10m in assets for the fund, and has already invested nearly half of that amount. The new fund will focus on Scandinavian eco-friendly businesses.
27/04/2009

UBS extends real estate fund freeze

Due to the current market situation and the evolution of liquidity in its products, UBS Germany on Friday announced that it will be extending a freeze on redemptions from its open-ended real estate funds UBS (D) Euroinvest Immobilien and UBS (D) 3 Kontinente Immobilien for six months, the Börsen-Zeitung reports.
27/04/2009

Henderson launches an SRI blog

Henderson Global Investors (HGI) has announced that it has launched a blog dedicated to the subject of socially responsible investment (SRI). The specialised fund management team at the asset management firm will use this vehicle to inform investors and other stakeholders about its opinions and its approach in this area. The project follows an announcement in March that HGI will be the patron of the 2009 edition of National Ethical Investment Week. HGI has assets of about GBP570m in SRI, in the form of funds and mandates.
27/04/2009

AMB Capital calls for LonZim to be dismantled

South African alternative asset manager AMB Capital and Damille Partners IV, which own 27% of capital in LonZim (in which Lonrho holds 24.25%), will move at an extraordinary general shareholders’ meeting to dismiss the four executive directors of the company and sell its assets in Zimbabwe, the Sunday Times reports. LonZim has been listed on the AIM in London since 2007, and Lonrho, the founder, has operational control. LonZim’s assets include Celsys (mobile telephony, printing); Paynet (online payment systems), and Millpal (chemistry). The chairman, David Lenigas, has called on shareholders to reject the demands of AMB and Damille.
27/04/2009

Jerker Johannson to leave UBS

On Monday, UBS is expected to announce the departure of Jerker Johannson, the global head of its investment bank, the Financial Times reports. The departure of the director, who joined the Swiss bank only one year ago, after 22 years at Morgan Stanley, will be one of the most significant changes the firm has seen since the arrival of Oswald Grübel.
27/04/2009

EU to publish draft of hedge fund directive

Ignites Europe reports that the European Commission on 29 April will publish a draft directive for hedge fund managers, which bears a significant resemblance to the UCITS framework. Management firms will be allowed to sell their products throughout Europe after receiving permission from local regulators, according to an initial version of the directive obtained by Ignites.
27/04/2009

Opponents of Fortis acquisition won't back down

The Financial Times reports that shareholders opposed to a sale of Fortis to BNP Paribas are mobilizing ahead of a general shareholders’ meeting on Tuesday, which will vote on the possible sale. The Modrikamen agency, which represents 2,300 shareholders, is also planning to take legal action to obtain the list of voters, which would delay the vote.
27/04/2009

Credit Suisse/Tremont adjusts weightings of hedge fund indexes

Credit Suisse Index Co has announced that on 1 April 2009 it made routine adjustments to its hedge fund indexes AllHedge Index (SECTAH) and Blue Chip Index (INVX), to which 12 and 14 funds, respectively, were added. The funds in the SECTAH and INVX indexes are part of the Broad Index. The SECTAH funds are the largest in each of the ten sectors of the Broad Index, weighted according to their sectoral weight in the general index, while the INVX funds replicate the largest open-ended funds in these ten sectors.
27/04/2009

Retirement savings: asset managers have an image problem

The financial crisis has negatively affected 50.1% of individual investors and 58.3% of institutional investors in the retirement planning industry, according to a survey conducted by Kommalpha Institutional Consulting entitled ?Altersvorsorge in der Asset Management Industrie.? The study finds that a large majority of investors feel that for retirement planning, insurers are better positioned than asset managers. In addition, the knowledge of potential clients of the largest actors is relatively limited: only 20% of investors are able to name one, and 65% of respondents are unable to name an asset management firm with an especially strong position in retirement savings. The best-known are Allianz and Deutsche Bank, as well as Union Investment (co-operative banks) and Fidelity.
27/04/2009

Morningstar acquires two CPMS activities

Morningstar Research Inc, a Canadian affiliate of US-based Morningstar Inc., has bought the equities research and data businesses of CPMS Computerized Portfolio Management Services Inc., which has about 40 employees in Toronto, for CAD16.1m. The transaction is expected to be closed by the end of the quarter.CPMS provides monitoring of fundamental data concerning shares in approximately 4,000 businesses in the United States and Canada. It also monitors earnings projections by brokers on Canadian businesses, and offers eight quantitative portfolios modelled on the US and Canadian equities markets.The firm has about 500 clients, including institutional investment managers, pension funds, endowments, and independent financial advisers.
27/04/2009

Wall Street ETFs with a Spanish accent

One year ago, two natives of Madrid, Bruno del Ama and José Carlos González, founded the New York management firm Global X Funds, which received its SEC license after six months. Its first fund is the FTSE Colombia 20, launched in partnership with Interbolsa, the largest Colombian broker, Cinco Días reports. Global X is planning to launch ETF funds based on other emerging markets, including Peru, Egypt, and the Philippines. No other provider in the United States currently offers these niche products.
27/04/2009

Banco Madrid closes Copernico

Banco Madrid has announced the liquidation of its only hedge fund, Copernico, whose assets at the end of March had fallen to EUR21,000, Funds People reports. This amount represents the remaining assets in the fund after redemptions totalling 54% of the fund at the end of December.
27/04/2009

One quarter of new funds launched in 2009 are guaranteed equities funds

Spanish fund managers estimate that the leading category of products in the next few months will be guaranteed capital equities funds, which provide protection of capital for those who are not confident in the upward direction of the stock markets, and who are exposed to equities in order to profit from a possible rebound in this asset class. Paul Mercado, director of research at VDOS Stochastics, tells Expansión that 25% of new funds or funds whose guarantee has been renewed in the past three months are in this category, which represents 17% of total assets in Spanish funds.
27/04/2009

Retirement savings plans increase allocation to bonds

According to a study by the consulting firm Mercer, managers of Spanish retirement savings plans have increased their exposure to bonds to 61% since the beginning of the year, compared with 49% in 2008, Cinco Días reports. Allocation to equities has fallen to 32%, 8 points lower than at the end of 2006.

Sujets d'actualité

Tous les sujets