Foto cedidaKarin van Baardwijk, actualmente CEO y directora de operaciones de Robeco.. Karin van Baardwijk será nombrada consejera delegada de Robeco en sustitución de Gilbert Van Hasse
Robeco has announced the appointment of Karin van Baardwijk as Chief Executive Officer (CEO) as of 1 January 2022. Currently deputy CEO and COO, she will succeed Gilbert Van Hassel who has served as the firm’s CEO since September 2016.
In a press release, the asset manager has revealed that Van Hassel will stay on as CEO until 31 December 2021 “in order to ensure a smooth handover”, after which he will re-locate back to the United States where he will assume a senior role for ORIX Group based in New York.
Van Baardwijk joined Robeco in 2006 and has held various positions ranging from Head of Operational Risk Management to Chief Information Officer. Having been part of its Executive Committee since 2015, she has played an important role in developing and executing the corporate strategy for 2021–2025 and has been responsible for leading several “successful transitions”.
“It is an honor to be appointed CEO. I am very excited to lead Robeco and proud to add to its long history that goes back for 90 years of serving clients. Sustainability is at the heart of everything we do and I personally stand for. I look forward to further driving the strategic 2021-2025 agenda, to build on the momentum we have and to accelerate growth in all our key strengths”, Van Baardwijk said.
Meanwhile, Maarten Slendebroek, Chair of the Supervisory board,highlighted that she has shown “strong, inclusive leadership and management skills” in her current role as Chief Operating Officer (COO) and deputy CEO. In his view, her strengths in operations, technology, sustainability, relationship building, and her extensive experience within Robeco will “undoubtedly” enable her to be an “effective and respected” CEO.
“On behalf of the Supervisory Board, we thank Gilbert for laying a strong foundation, accelerating Robeco’s growth globally and for guiding Robeco to leading global positions in Sustainable Investing, Quant, Credits, Trends & Thematic and Global & Emerging Market Equities. We wish him all the best in his new role with ORIX Group”, he added.
As for Van Hassel, he claimed to be very grateful for his tenure at Robeco and to have had the opportunity to lead “such an incredibly skilled organization with so many bright and talented people”.
“Robeco is in a great place and with Karin, I have the utmost confidence that its clients are in good hands. To be able to fill this position from our own ranks underlines the strength of our organization. I am thankful for the position that ORIX Group has offered me to share my experience and to further build its global business. I also look forward to being reunited with my family”, he concluded.
Foto cedidaJenny Johnson, presidenta y CEO de Franklin Templeton.. Franklin Templeton adquiere O'Shaughnessy AM, proveedor de índices personalizados
Franklin Templeton has announced that it will acquire O’Shaughnessy Asset Management, a custom index provider and quantitative asset management firm. The transaction is still subject to customary closing conditions and expected to close in the fourth quarter of 2021.
In a press release, the asset manager has explained that through this acquisition, it adds to its offerings in the high growth separately managed account (SMA) industry, where it is already one of the largest providers with 130 billion dollars in assets under management as of August 31, 2021. In its view, OSAM’s capabilities, both as a factor-based investment manager and as a Custom Indexing solution via its flagship Canvas® platform, “will serve as an important expansion and enhancement of Franklin Templeton’s existing strengths in SMA and custom solutions capabilities”.
The platform was launched in late 2019 and has seen strong growth since its inception, now representing 1.8 billion dollars of OSAM’s total 6.4 billion in assets under management as of August 31, 2021.
“Technological advances are reshaping how financial solutions are delivered, and we continue to invest in innovative technology to enhance client outcomes and their experience. Custom Indexing is aligned with our commitment to bringing sophisticated customization to a broader investment audience, and I’m excited to welcome the OSAM team to Franklin Templeton”, said Jenny Johnson, President and CEO of the asset manager
Franklin Templeton believes that the transaction will bring “compelling benefits” to the clients that both companies serve across multiple channels. “Custom Indexing represents a significant area of growth in asset management today, and Canvas allows financial advisors to build and manage Custom Indexes in SMAs that are individually tailored to the client’s specific needs, preferences, and objectives”, points out the press release.
Besides, they highlight that advisors can create investment templates, access factor investing strategies, utilize passive strategies, and apply ESG investing and SRI screens to adhere specifically to the client’s personal beliefs. Canvas also provides the opportunity for advisors to efficiently plan, set tax budgets, identify realized and unrealized gains and losses, and systematically sell certain positions to create offsets. OSAM is also regarded as a pioneer in factor-based investing with a long history of delivering its investment strategies through SMA and mutual fund solutions.
Patrick O’Shaughnessy, CFA, Chief Executive Officer of OSAM said that Custom Indexing represents the next progression of investing through Indexing, ETFs, and Direct Indexing. “As part of Franklin Templeton, we’ll have the opportunity to accelerate client growth at Canvas and continue to add to existing OSAM offerings. We’re excited by the incredible potential this acquisition creates and look forward to getting started”, he added.
Through this transaction, OSAM’s more than 40 team members are expected to join Franklin Templeton along with all of the necessary intellectual property, investment management processes, and principal business assets necessary to evolve and grow the business within the Franklin Templeton Product Solutions group.
Roger Paradiso, Head of Franklin Templeton Product Solutions claimed that they “firmly believe” winning solutions will need to combine a quantitative skillset, active investment management expertise, and a great digital user experience. “This partnership will further enhance Franklin Templeton’s ability to deliver compelling individualized SMA solutions to clients, advisors and firms while continuously innovating to advance and shape the managed accounts industry”, he concluded.
Pixabay CC0 Public Domain. Jupiter amplía su equipo de crédito estadounidense con la apertura de una oficina en Nueva York
Jupiter Asset Managementhas 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 Morganwhere he has worked as an Analyst on theLeveraged 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 onhigh-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.
Meanwhile, Stephen Pearson, CIO, addedthat 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.
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.
Pixabay CC0 Public DomainAutor: Free-Photos. Reapertura de EE. UU.
U.S. equities marched higher in August as the S&P 500 logged its seventh consecutive monthly gain. Markets responded favorably to a strong earnings season, stable central bank monetary policy, and robust infrastructure spending. Despite the positive headlines, investors remain cautious over inflation dampening profit margins and companies’ passing those higher prices to consumers.
Although 53% of Americans are fully vaccinated, concerns remain over the impact of the Delta variant on the unvaccinated portion of the population. Efforts to administer a booster shot have received FDA approval, which aim to bolster the efficacy of those vaccinated earlier this year. Additional shutdowns remain unlikely and the market appears to have already discounted a cautionary re-opening scenario with travel and leisure stocks shedding some of their gains.
Continued focus remains on the Fed and their stance on monetary policy in response to higher inflation rates. Although recent discussions of potential implementation of tapering have been non-material, the market remains cognizant of potential action being taken by the Fed should these concerns persist.
Although our approach to picking stocks always evolves – we still often video conference with management teams even though we are back in the office – we remain true to the founding fundamental research process and PMV with a Catalyst™ methodology of our firm. As Value Investors, we will continue to use the current market volatility as an opportunity to buy attractive companies, which have positive free cash flows, healthy balance sheets and are trading at discounted prices.
Mergers and acquisitions activity remained vibrant in August with $480 billion in announced deals, an increase of 44% compared to 2020.
The global convertible market bounced back in August with positive returns and an uptick in issuance. Returns were mostly driven by positive underlying equity performance for the month. The return of issuance was also a positive development after a relatively slow July. Pricing improved and we anticipate the pace of issuance to accelerate through the fall. The fundamental reasons for increased convertible issuance are still quite intact with low interest rates, increasing equity prices, and favorable tax environments available to most potential issuers.
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To access our proprietary value investment methodology, and dedicated merger arbitrage portfolio we offer the following UCITS Funds in each discipline:
GAMCO MERGER ARBITRAGE
GAMCO Merger Arbitrage UCITS Fund, launched in October 2011, is an open-end fund incorporated in Luxembourg and compliant with UCITS regulation. The team, dedicated strategy, and record dates back to 1985. The objective of the GAMCO Merger Arbitrage Fund is to achieve long-term capital growth by investing primarily in announced equity merger and acquisition transactions while maintaining a diversified portfolio. The Fund utilizes a highly specialized investment approach designed principally to profit from the successful completion of proposed mergers, takeovers, tender offers, leveraged buyouts and other types of corporate reorganizations. Analyzes and continuously monitors each pending transaction for potential risk, including: regulatory, terms, financing, and shareholder approval.
Merger investments are a highly liquid, non-market correlated, proven and consistent alternative to traditional fixed income and equity securities. Merger returns are dependent on deal spreads. Deal spreads are a function of time, deal risk premium, and interest rates. Returns are thus correlated to interest rate changes over the medium term and not the broader equity market. The prospect of rising rates would imply higher returns on mergers as spreads widen to compensate arbitrageurs. As bond markets decline (interest rates rise), merger returns should improve as capital allocation decisions adjust to the changes in the costs of capital.
Broad Market volatility can lead to widening of spreads in merger positions, coupled with our well-researched merger portfolios, offer the potential for enhanced IRRs through dynamic position sizing. Daily price volatility fluctuations coupled with less proprietary capital (the Volcker rule) in the U.S. have contributed to improving merger spreads and thus, overall returns. Thus our fund is well positioned as a cash substitute or fixed income alternative.
Our objectives are to compound and preserve wealth over time, while remaining non-correlated to the broad global markets. We created our first dedicated merger fund 32 years ago. Since then, our merger performance has grown client assets at an annualized rate of approximately 10.7% gross and 7.6% net since 1985. Today, we manage assets on behalf of institutional and high net worth clients globally in a variety of fund structures and mandates.
Class I USD – LU0687944552 Class I EUR – LU0687944396 Class A USD – LU0687943745 Class A EUR – LU0687943661 Class R USD – LU1453360825 Class R EUR – LU1453361476
GAMCO ALL CAP VALUE
The GAMCO All Cap Value UCITS Fund launched in May, 2015 utilizes Gabelli’s its proprietary PMV with a Catalyst™ investment methodology, which has been in place since 1977. The Fund seeks absolute returns through event driven value investing. Our methodology centers around fundamental, research-driven, value based investing with a focus on asset values, cash flows and identifiable catalysts to maximize returns independent of market direction. The fund draws on the experience of its global portfolio team and 35+ value research analysts.
GAMCO is an active, bottom-up, value investor, and seeks to achieve real capital appreciation (relative to inflation) over the long term regardless of market cycles. Our value-oriented stock selection process is based on the fundamental investment principles first articulated in 1934 by Graham and Dodd, the founders of modern security analysis, and further augmented by Mario Gabelli in 1977 with his introduction of the concepts of Private Market Value (PMV) with a Catalyst™ into equity analysis. PMV with a Catalyst™ is our unique research methodology that focuses on individual stock selection by identifying firms selling below intrinsic value with a reasonable probability of realizing their PMV’s which we define as the price a strategic or financial acquirer would be willing to pay for the entire enterprise. The fundamental valuation factors utilized to evaluate securities prior to inclusion/exclusion into the portfolio, our research driven approach views fundamental analysis as a three pronged approach: free cash flow (earnings before, interest, taxes, depreciation and amortization, or EBITDA, minus the capital expenditures necessary to grow/maintain the business); earnings per share trends; and private market value (PMV), which encompasses on and off balance sheet assets and liabilities. Our team arrives at a PMV valuation by a rigorous assessment of fundamentals from publicly available information and judgement gained from meeting management, covering all size companies globally and our comprehensive, accumulated knowledge of a variety of sectors. We then identify businesses for the portfolio possessing the proper margin of safety and research variables from our deep research universe.
Class I USD – LU1216601648 Class I EUR – LU1216601564 Class A USD – LU1216600913 Class A EUR – LU1216600673 Class R USD – LU1453359900 Class R EUR – LU1453360155
GAMCO CONVERTIBLE SECURITIES
GAMCO Convertible Securities’ objective is to seek to provide current income as well as long term capital appreciation through a total return strategy by investing in a diversified portfolio of global convertible securities.
The Fund leverages the firm’s history of investing in dedicated convertible security portfolios since 1979.
The fund invests in convertible securities, as well as other instruments that have economic characteristics similar to such securities, across global markets (but the fund will not invest in contingent convertible notes). The fund may invest in securities of any market capitalization or credit quality, including up to 100% in below investment grade or unrated securities, and may from time to time invest a significant amount of its assets in securities of smaller companies. Convertible securities may include any suitable convertible instruments such as convertible bonds, convertible notes or convertible preference shares.
By actively managing the fund and investing in convertible securities, the investment manager seeks the opportunity to participate in the capital appreciation of underlying stocks, while at the same time relying on the fixed income aspect of the convertible securities to provide current income and reduced price volatility, which can limit the risk of loss in a down equity market.
Class I USD LU2264533006
Class I EUR LU2264532966
Class A USD LU2264532701
Class A EUR LU2264532610
Class R USD LU2264533345
Class R EUR LU2264533261
Class F USD LU2264533691
Class F EUR LU2264533428
Disclaimer: The information and any opinions have been obtained from or are based on sources believed to be reliable but accuracy cannot be guaranteed. No responsibility can be accepted for any consequential loss arising from the use of this information. The information is expressed at its date and is issued only to and directed only at those individuals who are permitted to receive such information in accordance with the applicable statutes. In some countries the distribution of this publication may be restricted. It is your responsibility to find out what those restrictions are and observe them.
Some of the statements in this presentation may contain or be based on forward looking statements, forecasts, estimates, projections, targets, or prognosis (“forward looking statements”), which reflect the manager’s current view of future events, economic developments and financial performance. Such forward looking statements are typically indicated by the use of words which express an estimate, expectation, belief, target or forecast. Such forward looking statements are based on an assessment of historical economic data, on the experience and current plans of the investment manager and/or certain advisors of the manager, and on the indicated sources. These forward looking statements contain no representation or warranty of whatever kind that such future events will occur or that they will occur as described herein, or that such results will be achieved by the fund or the investments of the fund, as the occurrence of these events and the results of the fund are subject to various risks and uncertainties. The actual portfolio, and thus results, of the fund may differ substantially from those assumed in the forward looking statements. The manager and its affiliates will not undertake to update or review the forward looking statements contained in this presentation, whether as result of new information or any future event or otherwise.
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.
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 conservativein 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.
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”.
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.
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 electrificationof 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.
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.
