Pixabay CC0 Public Domain. Allfunds lanza nextportfolio3, una nueva versión de su solución de asesoramiento y gestión de carteras orientas a la ESG
Allfunds launches nextportfolio3, a new version ready to meet the industry’s ESG challenges. The continued evolution of this tool reinforces Allfunds’ leading role in the digital transformation of the wealth management industry, the company said.
The third version of Allfunds’ nextportfolio tool, which offers advanced portfolio management solutions to more than 400 global institutions, responds to the high demand from financial institutions for ESG analysis and information. According to them, in this new version of nextportfolio3 users will now benefit from four major services such as ESG reports and filters at fund and portfolio level, so that clients can better direct their investments towards ESG-oriented funds, thus meeting the demand for more sustainable portfolios.
It will also feature a portfolio optimizer by asset allocation and fund selection, which allows firms to adjust their portfolios to achieve optimal allocation and efficiency in line with specific levels of risk; and an advanced risk and return attribution module that helps detect the specific contribution of holdings or assets, and provides information to determine the effectiveness of investment diversification. It also features a new end-client portal and mobile app that offers an excellent user experience with new investment analysis and tracking functionality.
“We are delighted to launch a new version of our nextportfolio solution, building on Allfunds’ 20 years of experience in developing technology products that support asset and wealth management with greater efficiency and agility in response to evolving market dynamics. We have leveraged Allfunds’ deep expertise and access to market data to achieve a stronger and more powerful portfolio analysis tool in nexportfolio3. Analysis and reporting tools have been incorporated with a clear focus on ESG management, helping distributors make the best decisions for their clients,” explained Salvador Mas, Global Head of Digital at Allfunds.
This tool is part of the set of digital solutions of the Allfunds platform available for fund managers and distributors. According to the company, the launch of this new version of nextportfolio proves its commitment to the constant development of its offering, introducing new leading solutions to offer efficiency and growth paths to companies in the midst of the transition to an increasingly digitized industry.
Miami-based SupraBrokers created its Supra Wealth Management division to offer new investment opportunities and enhanced financial planning solutions for its clients.
To support the launch of the new Wealth Management division, the company signed an agreement with StoneX, a global financial services platform, expanding its product and solutions offerings for businesses, organizations and investors.
SupraBrokers, with presence in the US, Mexico, Guatemala, Ecuador, Argentina and Uruguay, has Juan Camilo Vargas as Managing Partner of the Wealth Management operation, together with a “team of professionals and specialists in capital markets”, says the company’s press release accessed by Funds Society.
Supra Wealth Management will be the division specialized in wealth management, investments, planning and financial solutions, and is designed to meet the challenges of access to global markets through customized products according to the needs of its clients. It is a registered and supervised entity by the Central Bank of Uruguay with an active license as a Portfolio Manager.
StoneX Group, formerly known as INTL FCStone, connects clients to global markets by offering them access to a wide range of investment solutions and products.
It begins “a new stage with great challenges, but we are sure that our more than 30 years of experience are a guarantee of quality and added value for our entire network,” said Vargas.
On the other hand, SupraBrokers CEO, Robert Parra spoke about the new bet on the Wealth Management division that “is a game changer for us and allows our distribution partners to broaden their horizons by offering their high-level clients a competitive private banking platform, as well as professional investment advice”.
SupraBrokers defines itself as a leading insurance and investment broker in Latin America, with more than 30 years in the industry. It is headquartered in Miami and has offices in Mexico City, Buenos Aires, Montevideo, Guatemala, Quito and Guayaquil.
Through its platform, it connects agents and insurers “in a transparent ecosystem that allows all parties to work efficiently, guaranteeing the well-being of individuals and corporate clients,” the company explains.
Union Bancaire Privée, UBP SA, and CRUX Asset Management announced their strategic partnership to strengthen the Bank’s Asia equity investment offering.
Established in 2014, CRUX is an active equity investment manager with £1.7 billion assets under management (2.27 billion dolars). The firm’s three core equity teams focus on Europe, the UK and Asia to deliver outstanding investment performance through bottom-up, high-conviction stock selection. In September 2021, CRUX hired Ewan Markson-Brown and Damian Taylor, two seasoned Asia equity fund managers, to build out its Asia equity franchise.
Through this partnership, CRUX will therefore advise UBP on the Bank’s Asia equity funds and mandates, drawing on its dedicated investment professionals and their decades of experience. UBP will provide investors in Asia with exclusive access to CRUX’s alpha-generating equity products.
Commenting on the partnership, Nicolas Faller, Co-CEO Asset Management at UBP, said: “The dynamism and growth potential in Asian markets stand out globally. We are therefore pleased to partner with CRUX as we accelerate our asset management expansion in the region. This partnership enables us to offer our clients actively managed best-in-class strategies.”
Karen Zachary, CEO at CRUX Asset Management, said: “The rapid adoption of new technologies, a rising middle class, and the financialisation of Asian economies has created a rich, diverse opportunity set full of change and underappreciated growth. Through this partnership and our commitment to bottom-up, high-conviction stock selection informed through an intimate knowledge of capital growth opportunities in Asia, our highly experienced investment team is positioned to attract and serve new clients in the region.”
UBP is one of Switzerland’s leading private banks, and is among the best-capitalised, with a Tier 1 ratio of 25.2%. The Bank is specialised in the field of wealth management for both private and institutional clients. It is based in Geneva and employs 1,904 people in over twenty locations worldwide; it holds CHF 160.4 billion in assets under management (figures as at 31 December 2021), the company’s memo said.
Santander US today announced that Virnitia Hendricks has been named Chief Diversity Officer, Head of Diversity, Equity and Inclusion (“DE&I”).
Hendricks will have a dual reporting relationship to Mahesh Aditya, Santander Consumer (“SC”) CEO and US Diversity Champion and Rosilyn Houston, Santander US Chief Human Resources Officer (CHRO). Hendricks also joins the Santander US Leadership Team, headed by Santander US CEO Tim Wennes.
Hendricks joined SC in 2020 as its Head of DE&I, serving as the first senior executive in that role. During her brief tenure, the team made great strides in instilling DE&I principles into SC’s culture and business practices, publishing an employee guide to inclusive behaviors, establishing a robust mentorship program, introducing financial literacy coaching for employees, maturing supplier diversity, and leading financial sponsorship of the Chrysler Minority Dealers Association for US automaker Stellantis.
In her expanded role, Hendricks will lead Santander’s DE&I efforts across the US, partnering with Santander’s US businesses to continue to develop scalable, DE&I strategies in support of an inclusive culture.
Hendricks will also work directly with Santander US’ Boards of Directors and the US Leadership Team to create and measure well-established programs that foster equitable teams throughout the organization, the company’s memo says.
Santander US CHRO Rosilyn Houston said, “We are pleased to welcome Virnitia to the US Leadership Team, representing an important step in the ongoing transformation of our culture. Under Virnitia’s leadership, we can ensure our Santander US culture is fully inclusive where every customer, colleague and community partner is valued, heard and has an equal opportunity to succeed.”
Prior to joining Santander, Hendricks served as Principal Consultant and Executive Coach for Quotidian Group. She has also held senior leadership roles for New York Life and Travelers Property Casualty in operational leadership, customer advocacy, call center management, analytics and reporting, and audit and compliance.
Hendricks received her bachelor’s degree and MBA from the University of Hartford, and her Doctor of Management degree in Organizational Leadership from the University of Phoenix and has received several awards during her career including being named one of Connecticut’s Most Influential and Powerful Women by the Connecticut Diversity Council.
Pixabay CC0 Public Domain. 2022 será un año crucial para los ETFs activos en el mercado estadounidense
2022 will be a transitional year for active exchange-traded funds (ETFs), according to Cerulli Associates. Its latest researchU.S. Exchange-Traded Fund Markets 2021: Reaching a Growing Investor Basefinds ETF industry participants are adamant that the active ETF opportunity is currently the most significant. In this context, as managers look to bring active product to market, they should continue monitoring the various approaches to launch and understand the tradeoffs associated with each.
The research asserts that the transparent active opportunity is most attractive relative to semi-transparent, strategic beta, and passive offerings. 70% of polled ETF issuers are either currently developing or planning to develop transparent active ETFs. With 266 billion dollars in assets encompassing multiple asset classes and a consistent growth trajectory, transparent active ETFs are already a well-built category and development has more recently been spurred by the ETF rule.
However, Cerulli notes that out of 104 billion dollars in active equity exposures, only a sliver is in true active equity products given that a significant portion is allocated to thematic and strategic-beta-like offerings.
The research points out that managers can also be successful with semi-transparent offerings. 50% of polled ETF issuers either are currently developing or planning to develop semi-transparent active ETFs. “Because holdings overlap and the number of holdings between the same product in two structures can vary significantly, this can lead to performance dispersion. This also complicates the cost-benefit analysis, requiring additional diligence from advisors and home offices”, Cerulli explains.
“Managers considering launching active ETFs should also keep an eye on the dual-share-class structure used by Vanguard, which comes off patent in 2023,” according to Daniil Shapiro, associate director. Previous Cerulli research finds that 38% of issuers are at least considering offering products via this structure. “Considering managers’ interest in offering products in a wrapper-agnostic manner, there is certainly some simplicity to be gained from having the same exposure available for sale via two structures—therein avoiding some of the previously referenced concerns about different exposures in what may be expected to be the same semi-transparent ETF,” adds Shapiro.
Cerulli believes that as issuers and legacy mutual fund managers seek to identify their market entry approach—whether via launching transparent or semi-transparent product, a conversion, or dual-share-class structure—many are still taking a wait-and-see approach to see which firms win out while others are placing bets.
“Ultimately, while the transparent active opportunity may be the most significant asset-gathering opportunity, managers can also be successful via semi-transparent ETFs with the right distribution approach. Conversions should be considered in unique circumstances, while developments regarding the dual-share-class structure should be monitored”, concludes Shapiro.
The true market opportunity for financial technology firms lies in the hands of 2,000 wealth management firms controlling roughly $10 trillion in assets under management, according to Cerulli’s latest report, State of U.S. Wealth Management Technology 2021: Aligning Firm Strategy with Technology Decisions.
The segment of the market most likely to license market-leading vendors consists of broker/dealers (B/Ds), RIAs, and bank/trust firms looking to distinguish themselves to advisors and investors by controlling the client experience and building what they believe to be a best-in-breed tech stack.
These firms are not at scale to do massive internal development like the wirehouses, but are at scale to sign meaningful enterprise agreements with wealth tech vendors, according to the research. These firms are constantly in search of organic growth through client acquisition or inorganic growth through advisor recruiting or M&A.
According to the research, three-quarters of these firms state that their tech philosophy is to license market-leading vendors and to maximize integration between tools.
“There is a meaningful segment of firms that is seeking to leverage top external vendors while also optimizing integration,” states Bing Waldert, managing director of Cerulli.
As noted for many of these firms, their value proposition revolves around optimizing the advisor experience, in part through technology. “Market-leading tools in categories such as performance reporting or financial planning should help the advisor create a better service experience for his or her clients,” he adds.
Portfolio accounting (75%), financial planning (58%), tax-optimization (56%) are the top-three applications licensed from external vendors by wealth managers, according to the research.
For wealth managers working in the high-net-worth (HNW) and ultra-high-net worth (UHNW) segments, the complexity of more affluent clients dictates more specialized solutions. This will be most true in categories such as performance reporting and financial planning.
Performance reporting systems will need to support private investments that are not valued daily and often not held at mainstream custodians. Likewise, a firm might offer a standard offering, such as a homegrown goal and financial planning system, but still offer connectivity to other third-party solutions for more complex clients. “HNW investors are trying to solve for issues such as illiquid business interests, minimization of taxes, and estate planning. Financial planning for this segment must be able to support the necessary complexity,” states Waldert.
Pixabay CC0 Public Domain. Los dividendos mundiales alcanzaron la cifra récord de 1,47 billones de dólares en 2021
The year 2021 saw a strong recovery in global dividends that more than offset cuts made during the worst of the pandemic, according to the latest Janus Henderson Global Dividend Index. Global dividends soared 14.7% on an underlying basis to a new record high of $1.47 trillion.
According to data from the Janus Henderson index, records were broken in a number of countries, including the United States, Brazil, China and Sweden, although the fastest growth was recorded in those parts of the world that had experienced the largest declines in 2020, notably Europe, the United Kingdom and Australia. Overall rate growth was 16.8%, driven by record extraordinary dividends. In addition, 90% of companies raised or held dividends steady, indicating widespread growth.
“Against the backdrop of the spectacular rally seen in the banking sector and the exceptional cyclical upside in mining companies, it would be easy to overlook the encouraging dividend growth seen in sectors that have made steady rises in recent years, such as technology. We expect many of these habitual patterns to consolidate in 2022 and beyond. The big unknown for 2022 is what will happen in the mining sector, but it is reasonable to assume that dividends in this area will be lower than the record levels of 2021, in light of recent trends in the iron ore, other metals and coal markets. For the full year, we forecast global dividends to reach a new record high of $1.52 trillion, up 3.1% on an overall basis or 5.7% on an underlying basis,” the company’s analysis notes.
Upward revision of the forecast
The exceptionally strong fourth-quarter distributions figures, coupled with the improved outlook for 2022, have led Janus Henderson to upgrade its full-year forecast. In 2022, Janus Henderson expects global dividends to reach a new record of $1.52 trillion, an increase of 3.1% on an overall rate or 5.7% on an underlying basis.
As the report accompanying the release of this index indicates, banks and mining companies were responsible for 60% of the $212 billion increase in payouts in 2021.
Another 25% of the increase responded to the resumption of distributions that companies had halted in 2020. Most of it was due to banks, whose dividends soared 40%, or $50.5 billion, and distributions returned to 90% of their pre-pandemic highs in 2021. In this regard, the manager explains that dividends were boosted by the restoration of payouts to more normal levels, given that regulators had curbed distributions in many parts of the world in 2020.
“More than 25% of the $212 billion annual increase came from mining companies, which benefited from the stellar rise in commodity prices. Record dividends from mining companies reflect the strength of their earnings. The mining sector distributed $96.6 billion over the year, nearly double the previous record of 2019, and ten times more than during the trough of 2015-16. In addition, BHP became the company that distributed the most dividends in the world. However, as a highly cyclical sector, its distributions will return to more normal levels when the commodity cycle turns around,” it notes in its findings.
The global economic recovery allowed distributions from consumer discretionary and industrial companies to grow by 12.8% and 10.0%, respectively, in underlying terms, while healthcare and pharmaceutical groups increased their dividends by 8.5%. Meanwhile, technology companies, whose profits continued to grow relatively immune to the pandemic, added $17 billion in payouts, an increase of 8%. Interestingly, 25% of the increase was attributable to just nine companies, eight of which were banks or mining companies.
Rebound in the United Kingdom and Australia
Geographically, the most accelerated growth in dividends was recorded in the regions where, in 2020, the largest cuts took place, such as Europe, the United Kingdom and Australia.
According to the firm, distributions reached new records in several countries such as the United States, Australia, China and Sweden, although 33% of the upturn came from just two countries, Australia and the United Kingdom, where the combination of increased distributions from mining companies and the restoration of distributions from banks made the biggest contribution to shareholder remuneration growth.
“Much of the dividend recovery in 2021 came from a small number of companies and sectors in a few areas of the world. However, behind these excellent figures, there was widespread growth in distributions both geographically and by sector,” says Jane Shoemake, client portfolio manager in Janus Henderson’s Global Equity Income team.
As Shoemake explains, against the backdrop of the spectacular rally seen in the banking sector and the exceptional cyclical upside in mining companies, it would be easy to overlook the encouraging dividend growth seen in sectors that have made steady gains in recent years, such as technology. “The same goes for geographic trends. The United States, for example, is often ahead of other countries, but in 2021 it recorded slower dividend growth than the rest of the world. This was due to the resilience shown in 2020, so the scope for recovery was now more limited,” he adds.
On its outlook, the manager indicates that many of the long-term dividend growth trends observed since the index’s launch in 2009 will be consolidated in 2022 and beyond. “The big unknown for 2022 is what will happen in the mining sector, but it is reasonable to assume that dividends in this area will be lower than the record levels of 2021, in view of the significant correction in the price of iron ore,” he says.
Commenting on the report’s findings, Juan Fierro, director at Janus Henderson for Iberia, says: “Following the strong recovery in global dividends that we saw over the past year, our 2022 forecasts put payouts for listed companies at a new record of $1.52 trillion – an increase of 3.1% overall or 5.7% underlying. While 90% of companies globally raised or held their dividends stable in 2021, in Spain we have seen this percentage drop to 36%. Despite this, dividends in our country registered an underlying growth of 14.6%, in line with global growth but higher in general terms (+22.5%) thanks to extraordinary payments.”
Fierro believes that, in the current context, “with a turbulent start to the year due to geopolitical tensions and potential changes in central banks’ monetary policy, it will be key to rely on active management and maintain a global and diversified approach in portfolios”.
iCapital announced that has acquired Bank of Singapore’s in-house private market feeder fund platform.
With the deal, iCapital takes over the management and operation of the bank’s private market feeder funds while Bank of Singapore retains client servicing responsibilities.
The deal builds on a long-standing partnership between the two companies. Bank of Singapore previously tapped iCapital to build out a technology and feeder fund solution to offer the bank’s advisors a seamless, intuitive platform for selecting private market investments for inclusion in client portfolios including private equity, private credit, and real assets.
“This transaction is the culmination of a highly collaborative relationship with iCapital,” said Leong Guan Lim, Global Head of Products at Bank of Singapore. “By partnering with the iCapital team on the management of our private market feeder funds business, we can ensure that our relationship managers and their clients have access to the industry’s leading technology and education offerings within the private market investing space.”
Following the close of the transaction, iCapital services approximately US$114 billion in global private assets, of which more than US$27 billion are from international investors (non-US Domestic), across more than 940 funds.
“We are excited to forge a deeper relationship with Bank of Singapore as we expand our offering to a growing base of clients and investors throughout Asia,” said Lawrence Calcano, Chairman and CEO of iCapital. “Our team works tirelessly to evolve with the investor demands of the international marketplace and we are grateful for the support of Bank of Singapore as we work together to further our mission.”
Bank of Singapore will continue to source and monitor private market investments for its clients and provide ongoing advice to its clients on private market investments within a diversified investment strategy.
iCapital will become the provider of custom private market funds for the bank’s high-net-worth clients.
As part of the transaction, the bank’s wealth managers also gain access to AltsEdge, the comprehensive educational platform sponsored by the iCapital Foundation and CAIA, designed to help wealth managers better understand alternative investments and how they can leverage them to improve client outcomes. The program consists of ten guided modules covering the private markets, various types of strategies and product structures and portfolio construction.
Asia is expected to grow its ultra-high-net-worth-investor (UHNWI) population by close to 40 percent over the next five years, significantly above the global average of 27 percent2, and interest in alternative investments by Asian UHNWIs has steadily increased in recent years.
The transaction with Bank of Singapore was completed on February 28, 2022.
Logo de Doubleline Capital
Copyright: Doubleline Capital. Foto cedida
DoubleLine Capital, the $134 billion asset manager, moved to Florida, continuing a trend of the state continuing to establish itself as a top choice for U.S. companies to set up shop.
The company led by billionaire Jeffrey Gundlach, moved its headquarters from Southern California to Tampa as of last month, according to Finra records.
The move adds to those of Dynasty Financial Partners and ARK Investment Management.
Elsewhere in the wealth management business, German firm Deutsche Bank announced its expansion in the southeastern U.S. with the promotion of Charlie Burrows.
Working from home, the increase in technology for remote meetings and the tax facilities available to industry representatives make the Sunshine State very attractive.
As a result, Miami has been named the new Wall Street of the South for months.
Miami’s strength as a financial center, a leader in sustainability and a thriving creative hub are huge assets, and “Friday’s discussions suggest the city is working hard to capitalize on them”, reflected those present at Bloomberg’s “The New Miami” forum held in December of last year.
Foto cedidaIvo Frielink, director de Desarrollo Estratégico de Producto y Negocio y miembro del Comité Ejecutivo de Robeco.. Robeco nombra a Ivo Frielink director de Desarrollo Estratégico de Producto y Negocio y miembro del Comité Ejecutivo
Robeco has announced the appointment of Ivo Frielink as Head of Strategic Product & Business Development and member of the Executive Committee (ExCo), effective 1 March.
Karin van Baardwijk, CEO Robeco, said: “We are very pleased to have Ivo joining the ExCo and taking on this strategic position for our clients and Robeco. It also makes me proud that we are able to fill this position from our own ranks, which underlines the strength of our organization. Having worked closely with Ivo in the past, I have full confidence that the experience and insights he has gained over his extensive career will be a great asset that we can all profit from.”
Mr. Frielink, currently Regional Business Manager APAC at Robeco Hong Kong, will in his new role be responsible for further aligning Robeco’s product offering with its key commercial priorities and focus, as well as adding capabilities that complement the company’s current offering and drive Robeco’s strategic agenda.
He started his career at Price Waterhouse Coopers in 2000 and moved to Robeco in 2005, where he held different roles including Corporate Development. At the end of 2017, he moved to NN Investment Partners, where he served as Head of Product Development & Market Intelligence. After just over two years, he returned to Robeco, where he was appointed Regional Business Manager for APAC at Robeco Hong Kong.
Ivo Frielink, Head of Strategic Product & Business Development: “Having spent the majority of my career at Robeco, I am honored to be taking on this important position and working together with the ExCo members and all the different teams within Robeco. I look forward to connecting with and supporting our clients to achieve their financial and sustainability goals by providing superior investment returns and solutions. With Sustainable Investing, Quant, Credits, Thematic and Emerging Market Equities we have a strong suite of capabilities, and I look forward to aligning this even further with what our clients are looking for and where we can add value to them.”
