Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
31/03/2009

Europe - Fortis : une facture de 10 millions d?euros pour les AG

Selon L"Echo, les neuf assemblées générales organisées par Fortis entre décembre 2008 et avril 2009 représentent pour le holding une facture globale de quelque 10 millions d’euros. A elle seule, l’AG du 11 février à Bruxelles, qui a débouché sur un «non» au deal avec BNP Paribas, a coûté plus d’un million.
30/03/2009

Norway - NBIM sees insufficient progress in struggle against child labour

Norges Bank Investment Management (NBIM), the asset management affiliate of the Bank of Norway in charge of the management of the Government Pension Fund - Global (formerly known as the Oil Fund), states in its latest report on compliance that four sectors (cocoa, mining, steel and textiles) are performing below expectations in combating child labour, IPE reports. The study was undertaken on the basis of publicly available information, and NBIM hopes to be able to report progress next year.
30/03/2009

Europe - BlackRock plans acquisitions in France or Italy

Leen Meijaard, managing director for Europe, the Middle East and Africa at BlackRock, has told Global Pensions that the US management firm is hoping to build its existing activities in France (EUR4.5bn, of which EUR2.5bn are under management for institutional investors), and in Italy (EUR7.3bn), through major acquisitions. Meijaard also states that BlackRock has ambitions to develop its SRI activities through external growth.
30/03/2009

Sweden - API plans to invest in hedge funds

Rikard Kjörling, director of outsourced asset management for API, has told Global Pensions that the pension fund is planning to make its first investments in hedge funds next year. The allocation will be part of the 10-15% of assets designated for alternative investments. Meanwhile, API is planning to quintuple its exposure to 5% in the long term. The three private equity firms which are currently partners are LGT Capital Partners for Europe, WPGP for the United States, and Hamilton Lante for global investments.
30/03/2009

United States - Hedge funds and private equity agree to join the fold

American hedge funds and private equity firms are accepting the inevitable and facing up to the fact that they won’t be able to stay clear of financial market regulation reforms for much longer, Bloomberg reports, as reported in the Frankfurter Allgemeine Zeitung. David Rubinstein, co-founder of Carlyle, admits that private equity firms will not be able to stand in the way of a runaway train. Jim Chanos, a hedge fund manager who leads the Coalition of Private Investment Companies, says the sector is prepared to accept surveillance, provided that it is not too intrusive.
30/03/2009

Hungary - Record fine for Soros fund

The Hungarian financial market regulatory authority has fined the alternative management firm Soros Funds Management a record HUF489m, or EUR1.6m, for launching a speculative attack on OTP bank in October, the Frankfurter Allgemeine Zeitung reports.
30/03/2009

World - Sovereign fund assets up

According to a Preqin study cited by the Frankfuter Allgemeine Zeitung, assets under management by sovereign funds increased by 6% last year to USD3.22trn; they are thus now far higher than assets in private equity, which weigh in at USD1.3trn.
30/03/2009

Germany - Subscribers should expect a wave of fund closures

A growing number of German management firms are having to shut down their funds due to the financial crisis, the Frankfurter Allgemeine Zeitung reports. Professionals often explain that they would prefer to avoid brutal liquidations and automatic cash redemptions and would rather opt for mergers with other funds. In the case of cash redemptions, even if there is a subsequent reinvestment in another product, the investor is subject to withholding flat tax.In 2008, DWS (Deutsche Bank) closed 50 funds, of which 21 were merged with other funds. Allianz Global Investors (AGI), which has recently acquired cominvest (240 funds), has a catalogue of 470 funds, from which it will eliminate at least 100.
30/03/2009

United Kingdom - iShares sale is imminent

Barclays is about to sell iShares, the Wall Street Journal reports. As of Friday, there were several candidates to acquire the business: Bain Capital and Colony Capital, Apax Partners and Hellman & Friedman, CVC Partners, and lastly, Goldman Sachs. The sale will fetch an estimated USD5bn.
30/03/2009

World - Alternative management recovering slowly

In February, the HFR global hedge fund index posted a gain of 0.38%, which brings performance since the beginning of the year to 0.71%. For 2008 as a whole, the index posted losses of 23.25%, compared with gains of 4.23% in 2007 and 9.26% in 2006.
30/03/2009

France - GI Forum: Maif commits to SRI

?This year, we wil set up a socially responsible investment practice,? said Pierre Bougeard, director of financial management at Maif, in a session at the GI Forum dedicated to SRI. ?There will be a charter distributed to all employees to inform them, and we will also inform our members,? he says. Maif previously established a plan to place 15% of its investments in equities OPCVM funds with SRI management, which has now been achieved. The plan now is to introduce SRI management in other asset classes, particularly bonds.Bougeard says that for SRI, there is now a ?plethora? of product offerings, and, he says, these investments are defined ?not in terms of a product range which an institutional investor can choose from, but the criteria? of the investor itself.
30/03/2009

Spain - Inverseguros suspends redemptions for Segurfundo

Following in the footsteps of the Banif Inmobiliario fund about two months ago, the Segurfondo Inversion fund from Inverseguros is suspending redemptions from 31 March 2009 to 31 March 2011, Expansión reports. The fourth-largest Spanish real estate fund is unable to keep up with redemption demands totalling EUR585m, or 96.8% of its assets. The Segurfondo has 478 subscribers, of whom the largest are Mapfre, Aegon, Allianz Zurich, Consorcio de Compensación de Seguros (CCS) and Nacional de Reaseguros. The fund will redeem 10% of its assets at the end of March in two rounds, one in April and the other in June, after selling off assets from its portfolio.
30/03/2009

France - Citywire award for Moneta AM

Citywire has tested the performance of 1,200 professionals at the helm of 2,300 funds available in France. The top three places in both France and Europe belong to Andrzej Kawalec, Romain Burnand and Thomas Perrotin, all managers at Moneta AM, La Tribune reports. Slightly further down in the rankings are Pascal Riégis of Oddo AM, Lucile Loquès of Covéa Finance, Philippe Desurmont of SMA Gestion, and Frédéric Leroux of Carmignac Gestion.
30/03/2009

United States - CalPERS sets out conditions for hedge funds

CalPERS is demanding better conditions from hedge funds, including lowered fees. The demands are contained in a letter sent to 26 hedge funds and 9 funds of hedge funds which work with the pension fund on 11 March, of which a copy has been obtained by the Wall Street Journal.
30/03/2009

United Kingdom - Madoff's London affiliate may be implicated in fraud

The British Serious Fraud Office suspects that Madoff Securities International Ltd. of London was involved in Madoff’s fraud network, the Wall Street Journal reports. In 2008, the US firm Bernard L. Madoff Investment Securities transferred GBP698m to its London affiliate, which in return wired GBP1.1bn to the US parent company. The payment allowed Madoff to convey the impression that London was a centre of profit. The Serious Fraud Office may in the next few months charge several people related to the UK operation, which employed 25 staff and appears to have had real operations. But declared operating profits in 2007 were limited to GBP7.6m.
30/03/2009

United States - Antigua to investigate Stanford

Antigua is planning to open a criminal investigation into the activities of Sir Allen Stanford, the Texan businessman accused by US regulators of a USD8bn fraud, the Financial Times reports. The investigation would concentrate on Sir Allen’s takeover of Guiana, the largest of Antigua’s offshore islands.
30/03/2009

United Kingdom - Financial services hit by downturn

The Wall Street Journal reports that, according to the quarterly survey of financial services published this monday by the Confederation of British Industry and PwC, 55% of businesses surveyed have reported a fall in net revenues from interest and revenue on their trading activities; 53% say their commission revenues and premiums fell in first quarter. In both cases, these are the worst results since the beginning of the data series 19 years ago. To compensate for the fall in profits, financial sector businesses have cut their staff at the fastest pace since 1993.
30/03/2009

Asia - Staff cutbacks at SG Private Banking

L’Agefi reports that SG Private Banking (SGPB), the private banking affiliate of Société Générale, will cut its staff in Asia (excluding Japan) by slightly under 10%. ?50 jobs will be affected, out of staff of 600 in China, India, Hong Kong and Singapore, and 2,900 personnel worldwide,? the news agency reports.
30/03/2009

United Kingdom - FSA criticises management firms

The Financial Services Authority has single out asset management firms for criticism of their lack of organisation and riak analysis, the Financial Times reports. These lacunae may compel the regulator to impose stricter owners’ equity requirements. Alain Grisay, CEO of F&C Asset Management, says that ?after New Star, the UK regulator is looking at the balance sheets of asset management firms. It doesn’t want the segment to implode.?
30/03/2009

Le patron de la Dresdner renonce à sa prime de départ

Herbert Walter, le président du directoire de la Dresdner Bank, a annoncé qu’il renonce à sa prime de départ de 3,8 millions d’euros compte tenu du fait que la banque a accusé en 2008 une perte supérieure à 6 milliards d’euros, rapporte la Frankfurter Allgemeine Zeitung.
30/03/2009
Fonds

Inverseguros suspend les remboursements du Segurfondo

Comme le Banif Inmobiliaro voici environ deux mois, le fonds Segurfondo Inversion d’Inverseguros suspend ses remboursements du 31 mars 2009 au 31 mars 2011, rapporte Expansión. Le quatrième fonds immobilier espagnol par la taille est incapable de faire face à des demandes de rachat qui portent sur 585 millions d’euros, soit 96,8 % de son encours. Le Segurfondo compte 478 souscripteurs, les principaux étant Mapfre, Aegon, Allianz Zurich, Consorcio de Compensación de Seguros (CCS) et Nacional de Reaseguros. Le fonds remboursera 10 % de son encours de fin mars en deux versements, l’un en avril et l’autre en juin, après avoir réalisé des cessions d’actifs.
Fonds
30/03/2009

SG Private Banking réduit ses effectifs

Selon l"Agefi, SG Private Banking (SGPB), filiale de banque privée de la Société Générale, va réduire d"un peu moins de 10 % ses effectifs en Asie (hors Japon). «Une cinquantaine de postes sont concernés, sur un effectif de 600 personnes en Chine, en Inde, à Hongkong et à Singapour et de 2.900 collaborateurs au niveau mondial», précise le quotidien.
30/03/2009

Le fonds de Soros à l'amende

L’Autorité hongroise de surveillance des marchés financiers a condamné le gestionnaire alternatif Soros Funds Management à une amende record de 489 millions de forints ou 1,6 million d’euro pour avoir lancé une attaque spéculative en octobre sur la banque OTP, rapporte la Frankfurter Allgemeine Zeitung.
30/03/2009

La vente d?iShares est imminente

Barclays est sur le point de vendre iShares, rapporte le Wall Street Journal. Vendredi, plusieurs candidats au rachat étaient sur les rangs : Bain Capital et Colony Capital, Apax Partners et Hellman & Friedman, CVC Partners et, enfin, Goldman Sachs. L"opération se monterait à 5 milliards de dollars.
30/03/2009

Chris Flowers jette l'éponge chez HRE

Joueur d'échecs, Christopher Flowers sait qu’il faut parfois sacrifier des pions pour revenir en force et gagner la partie. C’est pourquoi beaucoup pensent que sa démission vendredi de son poste d’administrateur de la Hypo Real Estate (HRE) était surtout une man?uvre tactique de la part du capital-investisseur, rapporte le Handelsblatt. Avant l’expropriation par l’Etat fédéral, la participation de Chris Flowers ne vaut plus que 60 millions en Bourse, alors qu’il l’a payée plus d’un milliard d’euros. N'étant plus administrateur, Chris Flowers n’est plus tenu par le code allemand de bonne gouvernance à ?uvrer pour le bien de l’ensemble de la société. Il a donc les mains libres en tant qu’actionnaire individuel pour attaquer l’Etat en justice afin d’obtenir une indemnisation importante.
30/03/2009

La Deutsche Bank prévoit des augmentations de capital

La convocation à l’assemblée générale du 26 mai fait ressortir que la Deutsche Bank demandera à ses actionnaire l’autorisation d’augmenter le capital social de près de 40 %. Aux cours actuels, cela représenterait plus de 7 milliards d’euros qui viendront s’ajouter à plusieurs milliards potentiels de capital autorisé gelés par une procédure en justice, souligne la Frankfurter Allgemeine Zeitung.
30/03/2009
Fonds

AP1 songe à investir en hedge funds

Rikard Kjörling, directeur de la gestion d’actifs externalisée d’AP1, a déclaré à Global Pensions que le fonds de pension compte réaliser ses premiers investissements dans des hedge funds l’an prochain. L’allocation fera partie de la poche de 10-15 % de l’encours réservée aux investissements alternatifs. D’autre part, AP1 va quintupler à 5 %, sur le long terme, son exposition au private equity. Les trois gestionnaires de private equity actuellement partenaires sont LGT Capital Partners pour l’Europe, WPGP pour les Etats-Unis et Hamilton Lane pour l’ensemble du monde.
Fonds

Sujets d'actualité

Tous les sujets