Archive » 2002 » Issue 6 (Dec.)
Redrawing the lines
02 December, 2002
Fund managers need to negotiate in order to get the best distribution agreements, but it is their partners who hold the power.
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Private banks switch focus to super-rich
02 December, 2002
Wealth managers need to redefine either their product range or their target clients.
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Daring deals
02 December, 2002
Cofunds steps up with IFDS agreement
UK fund supermarket Cofunds has formed a strategic alliance with IFDS, the 50-50 administration joint venture between State Street and DST Systems. The deal is a financial lifeline for the fund supermarket, which has been battling for business with Fundsnetwork – a rival supermarket with the weight of Fidelity behind it.
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MFT launches STP service for advisers
02 December, 2002
Distributors hail GFAS Message Exchange for increasing their speed and accuracy while keeping costs stable.
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US winning
02 December, 2002
Poll shows America ahead in private equities, writes Roxane McMeeken.
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Rothschild moves in on Italian third party trade
02 December, 2002
LCF Rothschild is setting up shop among Italy’s fund distributors. France’s LCF Rothschild Group has embarked on a drive to win business from Italian third-party fund distributors. So far the firm has E300m of funds under management, sourced from Italian banks and financial advisers. The firm has headhunted Philippe de Nouel, former country head of Axa Investment Managers, Rome, to lead the initiative. In his new role as head of the Italian office Mr de Nouel said he would be “100 per cent focused on third-party clients,” something he said many large institutions try, and fail to achieve.
He is marketing LCF Rothschild’s Luxembourg fund range, concentrating on flagship European government bond and international equity funds, but the firm is also prepared to undertake segregated mandates. LCF Rothschild has only just started actively marketing, but it set up its Italian branch three years ago in order to research the market. The research concluded that direct marketing to individual investors should be avoided due to lack of brand recognition, but that LCF Rothschild should make the Italian market one of its highest priorities.
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Managers attack distributors
02 December, 2002
Fund managers react against PwC’s critical report by finding fault with
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Wealth briefs
02 December, 2002
urich, 7IM rub hands as wrap accounts loom
Zurich has teamed up with Seven Investment Management (7IM) in the latest bid to cash in on the anticipated explosion of the UK wrap account market.
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BBH hopes banks open up rather than lose out
02 December, 2002
In facing competition from fund supermarkets, banks could use a boost, reports Roxane McMeeken.
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Managers’ split personalities
02 December, 2002
Distributors concerned as troubled managers seek sanctuary abroad.
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Review for external funds
02 December, 2002
When a third-party fund sees staff leave or performance slip, SEB
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Smart outlook
02 December, 2002
Yuri Bender talks to Axa IM chief executive, Nicolas Moreau, about the company’s evolution into an innovative money management organisation.
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Carreno’s way
02 December, 2002
Should Europe’s small advisory firms allow themselves to be backed by American friends? Roxane McMeeken reports on Raymond James’ plan for European expansion.
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Automated solutions for paper overload
02 December, 2002
The implementation of STP can complicate relationships in the processing chain, but if the volume of transactions continues to increase at the present rate, fund distributors may have no choice but to automate. Roxane McMeeken reports on Vestima, the platform designed to eliminate manual processing.
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Developing a package for European partners
02 December, 2002
Wealthy clients wanting improved access to top-name managers are driving the demand for ‘managers of managers’ who can line up the ultimate mix of investment houses to best benefit their portfolios. SEI explains how to best deliver the benefits of a manager of managers strategy to high net worth clients.
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Unwrapping SMAs
02 December, 2002
A separately managed account makes professional money management available to the smaller investor.
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Powerful weaponry
02 December, 2002
Exchange-traded funds (ETFs) offer easy, risk-controlled and cost-efficient exposure to the world’s investment markets. A new breed ofsector ETFs is set to give investors even more power to implement their investment strategies.
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Don’t look back in anger
02 December, 2002
Cash-out options are now almost universally included in exchangeable bonds and are fast becoming common, even in convertible bonds. But investors should be wary of this feature. While it benefits issuers, it can take value away from the investor.
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Hard act not to follow
02 December, 2002
In principle, when fund managers leave their investment houses, investors should follow with their money. But not always, writes Simon Hildrey.
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Asset allocators
02 December, 2002
Thierry Callault,
head of strategy,
Banque du Louvre
Based in: Paris, France
“In our last update we were optimistic on equities, driven by stock rallies and earnings recoveries. We will keep that stance, staying invested 50-50 equities and bonds. Regarding our manager breakdown, we still believe in our overweight position in high yield and corporates in the US. But in order to add a European government bond component in case of German deflation, we have brought in GoFx Asset Management.”
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Don’t believe the hype
02 December, 2002
There is hope for the struggling hedge fund market, but investors’ expectations must remain realistic.
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Middle market blues
02 December, 2002
High fees are putting investors off, but smaller players are harder to find, writes Yuri Bender.
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Money flows in Euros
02 December, 2002
Naked appetite for higher yields drives cross-border activity, writes Roxane McMeeken
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Tentative steps into equity danger zone
02 December, 2002
Despite ongoing concerns about the stock market, there are returns on the horizon, writes Simon Hildrey
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