BroadSpan Strengthens its Footprint in Latin America through an Office in Mexico

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Wikimedia CommonsCiudad de México. ,,

BroadSpan Capital has announced the expansion of its operations in Latin America through the establishment of a presence in Mexico City and the hiring of senior banker Luis Camarena as Managing Director and Head of Mexico.

In a press release, the firm has revealed that, through these efforts, it will expand its capacity to deliver its core Restructuring Advisory and M&A Advisory services to clients in Mexico as well as further facilitate cross border transactions for clients based in other markets.

Prior to joining BroadSpan, Camarena headed the Mexico operations of European investment banking firm Alantra for three years. Before that, he was a Director of Rothschild’s Mexico team for over eight years where he led numerous successful restructurings and M&A transactions. Camarena also worked at both Lehman Brothers and JP Morgan in the Investment Banking groups in Mexico City, Monterrey, and New York.

“We are delighted to bring Luis into the BroadSpan structure. It is rare to find a banker of his caliber that has not only the proven restructuring and M&A track record, but also successful experience working in both the bulge bracket and boutique environments. A fantastic fit for all parties,” said Mike Gerrard, BroadSpan’s CEO.

Meanwhile, Camarena claimed to be excited to join a team of bankers with “an unmatched level” of experience and track record that has successfully built a true US-Latin American IB platform. “BroadSpan’s top ranked restructuring practice and longstanding leadership in cross border M&A will bring significant value to our clients as we expand in what is the second largest economy in Latin America”, he added.

Founded in 2001, BroadSpan Capital is an independent investment banking firm that provides corporations, partnerships and government institutions with advice related to mergers & acquisitions and financial restructuring in Latin America and the Caribbean. It has offices in Miami, Rio de Janeiro, São Paulo, Mexico City and Bogota and through affiliate offices located in 30 countries around the world. 

Jupiter Expands its US Credit Team with New York Office Opening

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Pixabay CC0 Public Domain. Jupiter amplía su equipo de crédito estadounidense con la apertura de una oficina en Nueva York

Jupiter Asset Management has announced the launch of a new, New York-based US credit hub, increasing the research capacity of its 13 billion dollars’ global unconstrained fixed income strategy and deepening analytical coverage of the world’s largest, most liquid market.

In a press release, the firm has revealed that three Jupiter employees, including two newly appointed team members, will be based in the office, evolving the firm’s US credit coverage from its current focused and selective approach to a deeper and more extensive analytical cover. “With the office designed as an idea-generation hub for Jupiter’s UK-based fixed income strategy, the team will have no initial requirement for order raising or trading capability”, they add.

Dedicated US credit research team

The New York-based team will be led by experienced US Credit Analyst and US national Joel Ojdana, who joined the company in London in July 2018 and moved back to the United States with the opening of Jupiter’s Denver office in October 2020. With over thirteen years’ experience in fixed income investing, the asset manager believes that Ojdana has made “a meaningful contribution” to the firm’s US credit research – an important pillar of Jupiter’s unconstrained bond offering, led by Head of Strategy, Fixed Income, Ariel Bezalel.

With Ojdana in the credit hub will be David Rowe and Jordan Sonnenberg, who have joined the company as Credit Analysts this month. Rowe joins Jupiter from JP Morgan where he has worked as an Analyst on the Leveraged Loans & High Yield Credit Trading Desk for the last two years, while Sonnenberg joins from Deutsche Bank, where he has spent five years on the company’s High Yield Credit Research team, most recently as a High Yield Credit Research Associate covering the industrials, paper & packaging and chemicals sectors.

In their new roles, both will work closely with Jupiter’s 10-strong London-based credit research team, including Credit Analyst Charlie Spelina, who joined Jupiter in 2017 to spearhead the company’s US credit research. Besides, they will report into Ojdana and to Luca Evangelisti, Jupiter’s UK-based Head of Credit Research.

Jupiter AM has pointed out that the team will focus on high-yield credit research, feeding into the idea generation process for its global unconstrained bond offering, including the flagship Jupiter Dynamic Bond (SICAV). In addition, their work will also feed into the research process across Jupiter’s broader fixed income strategy, including the Jupiter Global High Yield Fund, with a longer-term scope for evolving the company’s product range in this area.

“Independent fundamental credit research has been a cornerstone of this strategy from the start. The opening of a New York-based credit research hub is an important step in the expansion of Jupiter’s credit research capabilities and one that will have a valuable impact across Jupiter’s entire fixed income offering. We look forward to working with the team to generate fresh and exciting investment ideas for the strategy”, commented Ariel Bezalel, Head of Strategy, Fixed Income.

Meanwhile, Stephen Pearson, CIO, added that as Jupiter’s Fixed Income strategy continues to go from strength to strength, it is “vitally important” to invest in their people and infrastructure. “David and Jordan’s experience in the US credit market make them the ideal candidates to further expand the team’s wealth of regional expertise, building on the meaningful contribution Joel’s work in the US has already made to the team’s investment process”, he concluded.

Franklin Templeton to Acquire Investment Grade Credit Team from Aviva Investors

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Pixabay CC0 Public DomainAutor: Alexas_Photos. Franklin Templeton compra el equipo de Crédito Investment Grade de Aviva Investors

Franklin Templeton has announced the talent acquisition of Aviva Investors’ US-based Investment Grade Credit team. This means that senior portfolio managers Josh Lohmeier and Michael Cho will join Franklin Templeton Fixed Income (FTFI). In addition, Tom Meyers, previously Aviva’s Head of Americas Client Solutions, will join FTFI in a newly created role as SVP, Senior Director of Investments and Strategy Development, Fixed Income.

In a press release, the asset manager has revealed that Meyers, Lohmeier and the full investment team are expected to join by the end of 2021. Lohmeier and Meyers will report to Sonal Desai, CIO at FTFI, and the investment team will continue to report to Lohmeier.

The Investment Grade Credit team currently manages over 7.5 billion dollars in institutional assets under management at Aviva, across its suite of investment grade credit strategies, including US Investment Grade Credit, US Long Duration Credit, US Long Duration Government/Credit, and US Intermediate Credit, with additional customized versions of each strategy for various institutional clients. The asset manager has clarified that Aviva clients in these strategies will have the opportunity to continue to have the team manage their assets at Franklin Templeton.

“Bringing this experienced team aboard will complement our existing credit capabilities by further deepening our expertise in investment grade credit, strengthening our research and analysis resources, and expanding our strategy offerings and capabilities further into the institutional marketplace, with a special focus on defined benefit and liability-driven investing,” said Desai.

“I look forward to working with Josh and the team to bolster and differentiate our investment grade credit offerings, and with Tom to bring this messaging to our clients and consultants, especially in the institutional arena”, she added.

Excess returns through all market cycles

Franklin Templeton has highlighted that this Investment Grade Credit team uses a differentiated portfolio construction process that breaks down and analyzes credit markets in distinctive ways in order to uncover additional opportunities for alpha and risk reduction for clients. Utilizing a custom risk framework and allocation system, the team aims to consistently deliver positive and uncorrelated excess returns through all market cycles, regardless of the direction of credit spreads, with a focus on downside protection.

Lohmeier claimed to be “thrilled” to continue to grow the substantial client interest they have seen in their investment grade credit strategy, now with Franklin Templeton. “Portfolio construction sets the strategy apart from its peers and is a key driver of its non-correlation. Our time-tested process is designed to add value by creating a more efficient portfolio and allocating to the best credit ideas”, he said.

Franklin Templeton believes that the team’s approach and expertise are complementary to its existing active quant investment process, which combines fundamental research-based active management with quantitative analysis and data science. In addition, the team’s investment philosophy and culture, built on the belief that a quantitative enhancement to fundamental research leads to more consistent and repeatable alpha generation, strongly aligns with FTFI’s existing culture.

“In the current environment, and especially within fixed income, we believe clients are looking for crisp differentiation and consistency,” said Meyers. “I look forward to working with Josh to continue to articulate the benefits of the investment grade credit strategies, and with the broader Franklin Templeton Fixed Income team in connecting clients with investment strategies that meet their diverse needs.”

Franklin Templeton Fixed Income has 156 billion dollars in assets under management, with approximately 13 billion of that in corporate credit strategies, as of August 31, 2021. The firm’s existing Corporate Credit Research Team comprises 31 investment professionals, organized by region.

ODDO BHF AM Acquires Metropole Gestion, Independent Firm Specializing in Value Investing

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Foto cedidaNicolas Chaput, consejero delegado (CEO) de ODDO BHF AM.. ODDO BHF AM compra Metropole Gestión, firma especializada en gestión value

ODDO BHF Asset Management and Metropole Gestion have announced their merger. In a press release, they have revealed that ODDO BHF AM has acquired 100% of the equity capital of this independent French asset manager specializing in value investing, which was founded in 2002 by François-Marie Wojcik and Isabel Levy. The transaction is still subject to approval by the French Autorité des Marchés Financiers (AMF).

In their view, this link-up will avail clients of both companys of “a unique investment style” that has been implemented for over 20 years by a “stable and dedicated team” led by Isabel Levy and Ingrid Trawinski.

Specifically, the expertise of Metropole Gestion will enrich ODDO BHF AM’s existing product offering. Both investment firms have already placed environmental, social and governance (ESG) criteria at the heart of their investment processes for several years now.

Meanwhile, Metropole Gestion’s fund range will benefit from ODDO BHF AM’s European distribution capacities, particularly in France, Germany, and Switzerland, with institutional clients, distributors and independent financial advisors. Meanwhile, the merger will give ODDO BHF AM’s strategies access to distribution in the US and UK, where Metropole Gestion is already present.

“In almost 20 years, Metropole Gestion has built up renowned know-how in value-oriented investment style, thanks to the trust that investors have placed in it, and backed by a highly skilled and devoted team. This know-how will be the cornerstone of the greater reach it will have within the framework of this merger”, said Francois-Marie Wojcik, Chairman and CEO of Metropole Gestion.

Isabel Levy, Deputy CEO and Chief Investment Officer of the independent firm comment that this merger addresses their wish to join up with “an ambitious business strategy” by combining teams with “renowned and complementary skills and similar cultures.”

Lastly, Nicolas Chaput, CEO of ODDO BHF AM claimed to be “very pleased” to welcome the Metropole Gestion team, whom they know well and for whom they have “the utmost respect”. “The value-oriented investment style implemented by Isabel’s and Ingrid’s teams will enrich the Group’s product offering and meet the expectations of many of our clients”, he concluded.

Increased Savings Set to Be Lasting Legacy of Pandemic as Investor Confidence Soars

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Pixabay CC0 Public DomainAutor: nattanan23.. El aumento del ahorro será el legado de la pandemia mientras la confianza del inversor se dispara

A greater focus on saving and financial wellbeing are set to be among the lasting legacies of the pandemic even as investor confidence soars, the last Schroders Global Investor Study has found.

The flagship study, which surveyed over 23,000 people from 32 locations globally, found that almost half of investors (46%) will now save more once restrictions have been lifted. Although this sentiment is strongest among investors aged 18-37, this more measured approach also flows through to investors’ retirement outlooks, with 58% of retirees globally now more conservative in terms of spending their savings, while 67% of those yet to retire now want to save more towards their retirement.

Despite the challenges brought by the pandemic, Schroders points out that investor confidence has soared to its highest level since the study began in 2016, with average annual return expectations over the next five years expected to be 11.3%, an increase on 10.9% predicted a year ago.

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A focus on financial wellbeing

The study also shows that almost three-quarters (74%) of investors globally have spent more time thinking about their financial wellbeing since the pandemic, with self-purported ‘expert/advanced’ investors the most engaged. Geographically, this change was most pronounced in Asia with investors in Thailand, India and Indonesia sharing this view strongly.

This means that investors globally are now more likely to check their investments at least once a month (82%), compared with 77% of investors in 2019. Besides, over the course of 2020, 32% of investors globally saved more than they had planned to. Unsurprisingly, this was driven by decreased spending on non-essentials, such as eating out, travel and leisure.

In this sense, over a third (38%) of investors in Europe had saved more than planned, followed by those in Asia (28%) and the Americas (27%). Of those who were unable to save as much as planned, 45% globally cited reduced salaries/work income as the key reason, “which reflects the great challenges caused by the pandemic”, says Schroders.

Cause for optimism

The analysis reveals that investors in the USA, Netherlands and the UK are set to be the most likely to increase spending once their respective lockdowns have lifted. At the other end of the scale, the most cautious investors were based in Japan, Sweden and Hong Kong. 

Furthermore, investment confidence is being driven by investors who class themselves to be ‘expert/advanced’ with return expectations of 12.8%, compared with 8.9% for self-purported ‘beginner/rudimentary’ investors. In this sense, those in the Americas were the most bullish, expecting annual total returns of 12.5% over the next five years, followed by those in Asia (12.3%) and slightly more cautious investors in Europe (9.7%).

“The pandemic has heightened our sense of uncertainty and challenged our ability to process risk, making many of us feel more anxious and out of control. These sentiments can clearly be seen in the results of our survey, with investors increasingly focused on saving, monitoring retirement contributions and checking their investments more frequently”, commented Stuart Podmore, a behavioural investment insights specialist at Schroders.

In his view, despite the “huge challenges” we have encountered, it is encouraging to see that the pandemic has acted as a catalyst for promoting a stronger focus globally on generic financial planning and wellbeing. “Although this is a global study, we all share common wants and needs, and financial security is a key focus for all of us. At the same time, we need to exert caution over the investment returns we expect over the coming five years, as the outlook shared by many investors – and in particular those who believe themselves to be experts – is exceptionally optimistic”, he added.

Podmore believes that the past 18 months have taught us that “the future remains difficult to predict” and a “measured, consistent and patient” approach to investing, focused on long term objectives and probable outcomes, is likely to stand investors “in better stead”.

Enjoy the Pictures of the Fundraising Gala to Support Surfside Collapse Residents

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Many relevant players of Miami´s financial industry raised $ 75,000 to help those affected by the collapse of the Surfside condominium in Champlain Towers South through the GEM foundation.

During the event, which took place on September 9th at the Rusty Pelican, Michael Capponi, GEM’s President, explained to the presents about the foundation’s work.

Zulia Taub, a survivor of the collapse, also spoke.

The initial goal was $ 50,000, but with the effort of 20 firms, which supported with Diamond, Gold and Silver sponsorship, it was possible to reach 75,000.

Diamond:  Funds Society, MFS, Ninety One
Gold:         AXA Investment Managers, BNY Mellon Investment Management, Bolton Global Capital, Brown Advisory, Insigneo, Janus Henderson Investors, Jupiter Asset Management, Schroders, Thornburg Investment Management
Silver:       RWC, Natixis Investment Management, Manulife Investment Management y Franklin Templeton.

In addition, the event wouldn’t have been possible without the collaboration of José Corena, Richard Garland, Jimmy Ly and Blanca Durán from Día Libre Viajes.

Moreover, the organization has created an account in gofundme platform as a new donation channel.

 

iM Global Partner Acquires 42% of Asset Preservation Advisors

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Pixabay CC0 Public DomainAutor: Free-Photos.. iM Global Partner se hace con el 42% de Asset Preservation Advisor para acelerar su expansión en EE.UU y Europa

iM Global Partner has announced the acquisition of a strategic non-controlling stake of 42% in Asset Preservation Advisors (APA), an independent investment advisor specializing in managing high quality tax-exempt and taxable municipal bond portfolios for registered investment advisors, family wealth offices, financial advisors and institutional clients.

The asset manager has highlighted that this transaction will grow its US-based product offering and accelerate its expansion, also across Europe. Through this new partnership APA joins iM Global Partner’s extensive global asset management and distribution network, while ensuring its long-term independence for decades to come.

“We are excited to partner with APA. With 4.8 billion dollars in assets under management, APA now ranks as the fourth largest independent municipal bond specialist in the US. iM Global Partner’s success in attracting new Partners is due to its values of integrity and support for entrepreneurialism which ensure that each partner retains its autonomy and independent value proposition combined with iM Global Partner’s worldwide distribution network”, said Philippe Couvrecelle, CEO and Founder of the firm.

This is the 8th partnership that iM Global Partner has taken on in six years and is the second US partner in 2021. In July, iM Global Partner acquired a 45% stake in Richard Bernstein Advisors, a New York-based asset allocation specialist. In March this year, the firm also announced it would expand its US distribution efforts with the full acquisition and integration of California-based wealth and asset management boutique Litman Gregory.

Kevin Woods, co-CEO and CIO of APA commented that they see “an incredible opportunity” in this partnership to help continue their “strong growth” and build on their leading presence as an independent Municipal bond specialist. “iM Global Partners offered APA a unique opportunity to continue our mission to provide excellence to our clients in the same way we have for more than thirty years, and now for decades to come”, he added.

Meanwhile, Jeff Seeley, Deputy CEO, US Chief Operating Officer & Head of US Distribution of iM Global Partner pointed out that given APA’s “exceptional reputation, competitive long-term performance and growing US distribution”, they believe the firm is uniquely positioned to capitalize on the increasing investment opportunities in the municipal segment, as US clients continue to seek attractive tax-exempt strategies. “Through our partnership, iM Global Partner is adding a new range of excellent strategies to our growing and diverse fixed income product set”, he concluded.

The firm has explained that this latest strategic partnership reinforces its commitment to the US market and is yet another example of its rapid expansion. In this sense, its assets under management have grown from 7 billion dollars at end 2018 to 37 billion today, more than 400% growth in just 3 years.

Regarding the details of the financial transaction, Berkshire Global Advisors acted as financial advisor for APA and Taylor English Duma acted as legal counsel. For iM Global Partner, Oppenheimer & Co. Inc. acted as financial advisor and Seward & Kissel acted as legal counsel.

 

Canada’s CI Financial Opens its U.S. Headquarters in Miami

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CI Financial, a diversified global asset and wealth management company based in Toronto, has announced in a press release the establishment of its U.S. headquarters in Miami. Located in the city’s Brickell district, the office will oversee the continued development of CI Private Wealth, the brand name for its U.S. platform.

The addition of a headquarters in Florida “follows CI’s rapid wealth management expansion in the U.S.”, with the company agreeing to acquire 21 registered investment advisor firms in 19 months since rolling out a new corporate strategy.

During this period, its U.S. assets have reached 73 billion dollars and its total assets globally have grown to 254 billion dollars, up from 131 billion only 18 months ago. The asset manager has highlighted that this makes them “one of the fastest-growing asset and wealth management companies globally”.

“Miami is an incredible place to establish our U.S. headquarters and support our fast-growing U.S. business. It serves as the next logical step for our expansion plans as we work to build the leading high-net-worth wealth management platform in the country. In addition, Miami is a vibrant, multicultural city that offers a deep talent pool, an attractive location for recruiting and a very business-friendly environment”, said Kurt MacAlpine, Chief Executive Officer of CI Financial.

The office will be home to the firm’s U.S. operations and the primary location for its U.S. leadership team but its executive officers will divide their time between Miami and Toronto. CI expects to expand its presence in Miami over time as it continues to execute against its U.S. corporate strategy.

Robeco Bolsters its Sustainable Investment Teams with Portfolio Managers and Seven Analysts

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Roman Robeco
Foto cedidaRoman Boner, gestor de cartera principal de la estrategia RobecoSAM Smart Energy.. Robeco refuerza sus equipos de inversión temática sostenible con un gestor principal y siete analistas de renta variable

Robeco has strengthened its sustainable themes investment teams with the addition of eight professionals. In a press release, the asset manager has announced the appointment of Roman Boner as lead Portfolio Manager of the RobecoSAM Smart Energy strategy. The teams will be further reinforced by seven equity analysts over the coming months.

“Our Trends & Thematic investment offering has seen strong growth, and our dedication, ambition and commitment allows us to attract the best world-class professionals. The capability is now stronger than ever before and we will keep adding investment professionals to further strengthen our teams in order to help achieving our clients’ financial and sustainability goals”, said Mark van der Kroft, CIO Fundamental and Quant Equity at Robeco.

David Hrdina, Chair of the Executive Committee at Robeco Switzerland, commented that with these appointments they are sending “a strong signal” to their clients and the market that Robeco Switzerland is “the center for Sustainable Thematic Asset Management, which can attract top-tier professionals”. “We made an important step in further bolstering the investment engine in Zurich. But this step was not the last one”, he added.

Based in Zurich, Boner is an experienced thematic investment manager. He joins Robeco from Woodman Asset Management, where he built up its impact offering. Previously he was Senior Portfolio Manager at Swisscanto, where he was responsible for managing different sustainable/thematic global equity funds and co-managed sustainable multi-asset funds. He also held various positions at UBS Global Asset Management, including Portfolio Manager focused on thematic sustainable equity strategies.

Besides, Pieter Busscher has been appointed lead Portfolio Manager of the RobecoSAM Smart Mobility strategy, having served as Deputy Portfolio Manager of this strategy since its launch in 2018. He has been with the firm since 2007 and is also the lead Portfolio Manager of the RobecoSAM Smart Materials Strategy.

Robeco’s deep bench of thematic investment professionals is further enhanced by the appointments of analysts Michael Studer, Mutlu Gundogan, Sanaa Hakim, Clément Chamboulive, Alyssa Cornuz, Simone Pozzi, and Diego Salvador Barrero.

Studer will be named Senior Equity Analyst focusing on Technology. He will also be the Deputy Portfolio Manager for the Smart Energy strategy. He joins from Acoro AM, where he was an investment manager, and has 13 years’ experience as an equity analyst/investment manager, working at Julius Baer and Bank J. Safra Sarasin and other firms.

Gundogan, CFA, will join as Senior Analyst from ABN AMRO – ODDO BHF, where he was Senior Equity Analyst covering the Chemicals sector. He will focus on the Materials sector and brings over 17 years’ experience as a financial analyst. As for Hakim, she will be appointed Senior Equity Analyst for Energy Efficiency & Renewables. With 6 years of experience as an investment analyst, she joins from Independent Franchise Partners and previously she was at Capital Group.

Chamboulive will join as Senior Analyst, also focusing on the Technology sector and its role in the electrification of the transport system. He worked at 2Xideas and prior to that at Baillie Gifford, and has 7 years’ experience as an Investment Analyst. Meanwhile, Cornuz, CFA, will be named Equity Analyst for the RobecoSAM Sustainable Healthy Living Equities strategy, with a focus on Consumer-related sectors. She joins from Credit Suisse and has five years’ experience as an equity and fund analyst. Previously she was at Nordea, where she was a fundamental equity analyst for thematic funds, fully integrating ESG aspects.

Furthermore, Pozzi will become Equity Analyst focusing on Industrial Automation and Process Technologies. He joins from Alantra, where he was an equity analyst and has more than six years of experience. Lastly, Salvador Barrero, CFA, has been appointed Equity Analyst for the Energy Distribution & Renewables team. He joins from BBVA AM in Spain, where he was an ESG equity portfolio manager. He has ten years’ experience as an equity analyst/portfolio manager, working at Aviva and other firms.

Smart Beta ETFs Are Gaining Traction with European Private Banks

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Pixabay CC0 Public Domain. Los fondos ETFs con estrategias smart beta ganan atractivo entre los clientes de la banca privada europea

Nearly half (46%) of the European private banks and independent wealth managers expect demand for smart beta exchange-traded funds (ETFs) to increase over the next 24 months, according to the latest issue of “The Cerulli Edge-Europe Edition“, a survey by Cerulli Associates.

“Forty-four percent of the respondents to our research expect passive ETF demand to increase over the next two years,” says Fabrizio Zumbo, associate director, European asset and wealth management research at the firm. Besides, the research indicates that European private banks’ average portfolio allocation to ETFs is set to increase from 18% in 2020 to 25.7% by 2022 and that specific sector/country exposure is by far the most important consideration for these institutions when evaluating ETFs.

According to Zumbo, there have been some interesting developments away from the mainstream asset classes. For example, some notable differences emerged when Cerulli asked European private banks and independent wealth managers to identify what they expect to be the most in-demand passive fund strategies and exposures. “EUR bonds were the clear winner among private banks, with almost half as many references again as USD bonds. In contrast, wealth managers expect other bond strategies to be most popular, with little to choose between their expectations for thematic, corporate, and emerging market bonds”, he reveals.

The research also shows that the COVID-19 pandemic-related market turmoil provided a significant stress test of the resilience of bond ETFs and their success triggered interest from investors who had not previously considered using ETFs in fixed income. In addition, a combination of regulatory tailwinds and unprecedented client demand has led to a surge in ESG investing.

“ETFs are also becoming an area of innovation in investment strategies, with thematic approaches that focus on sustainable food sources or specific climate change criteria, for example, being released in ETF format by default”, concludes Cerulli.