Investment Management, Islamic Finance Correspondent
Cecilia's Feed
Jun 29, 2011

Nordea eyes global fund management expansion

MONACO, June 29 (Reuters) – Scandinavian group Nordea’s
funds unit is seeking to grow assets up to 5 percent
this year by winning clients looking to prevent the erosion of
their wealth by inflation, its chief executive said.

Allan Polack, head of Nordea Asset Management, which has 192
billion euros under management, said the firm aimed to expand
internationally and compete with global management houses with
its global equity and emerging markets products.

Jun 29, 2011

Fund managers see hope in Greek rollover plan

MONACO, June 29 (Reuters) – International fund managers see
French proposals to roll over some Greek debt as the best way
out of the eurozone crisis — and a vital step if contagion to
other countries and new systemic threats are to be avoided.

Senior executives at international asset management houses
running around $5 trillion in assets, who spoke to Reuters at
the Fund Forum conference in Monaco this week, said they regard
a “re-profiling” as inevitable for Greece.

Jun 28, 2011

Principal Global Investors on prowl for acquisition

MONACO, June 28 (Reuters) – The investment arm of U.S.
insurer Principal Financial Group is looking to acquire
a manager of global stocks and bonds and could buy one this
year, its chief executive said.

“We are shopping. Do not be surprised if there is an
announcement in the second half of the year,” the chief
executive of Principal Global Investors, Jim McCaughlan, told
Reuters on the sidelines of the Fund Forum conference in Monaco.

Jun 28, 2011

Inflation fears give active managers new chance

MONACO, June 28 (Reuters) – Rising inflation is giving
active fund managers a chance to claw back business lost to
low-cost funds after the market crisis cast doubts over their
ability to make money for clients.

With low interest rates and rising inflation making
cash-like products unappealing and market volatility diminishing
the allure of cheap index tracking funds, many investors are
being forced back into active funds.

Jun 28, 2011

UK funds house Aberdeen cans US partnership plans

MONACO, June 28 (Reuters) – UK fund management house
Aberdeen Asset Management has ditched plans to find a
partner in the United States and will instead concentrate on
organic growth of its existing business, the chief executive
said on Tuesday.

“We have really taken a decision not to make any
acquisitions and really just grow the business organically,”
Chief Executive Martin Gilbert told Reuters on the sidelines of
the Fund Forum summit in Monaco on Tuesday.

Jun 28, 2011

JP Morgan fund arm to diversify EMEA assets

MONACO, June 28 (Reuters) – JP Morgan’s asset
management arm aims to double the proportion of fixed income and
alternatives in its assets in the Europe, Middle East and Africa
(EMEA) region, diversifying away from stocks to cushion against
market shocks, its regional chief said.

Jamie Broderick, the managing director in charge of JP
Morgan Asset Management’s EMEA unit, said he plans to reduce
equities from well over 50 percent to around half of assets.

Jun 28, 2011

HSBC funds unit looks to boost rich client assets

MONACO, June 28 (Reuters) – The fund management arm of HSBC
Holdings Plc is targeting an extra $90 billion in new
assets, hoping to attract more wealth management customers who
already do business with its banking arm, a senior executive
said.

HSBC Global Asset Management aims to double the proportion
of banking customers who allocate money to the funds unit from
20 percent currently to an industry average of 40 to 50 percent,
Rudolf Apenbrink, the unit’s chief executive for EMEA, said.

Jun 27, 2011

Managers cross exotic frontiers in hunt for returns

MONACO (Reuters) – Asset managers are eyeing investments in Iraq and other countries recovering from political instability, as the rise of markets such as Brazil and India make the exotic more acceptable.

Since the financial crisis, investors have sought to compensate for languid growth in the developed world by allocating more money to emerging markets, including Brazil, Russia, India and China — the BRIC group.

Jun 27, 2011

Mobius sees emerging market inflation contained

MONACO, June 27 (Reuters) – Inflation in emerging markets
could reach double digits, while economic growth this year will
average 6 percent, according to Franklin Templeton’s veteran
emerging markets investor Mark Mobius.

Economic growth and rising commodity and food prices are
fuelling inflation in emerging economies, but Mobius said
countries such as Brazil have in the past withstood inflation
running into the thousands of percent.

Jun 27, 2011

Emerging mkts inflation could hit double digits -Mobius

MONACO, June 27 (Reuters) – Inflation in emerging markets
could reach double digits, while economic growth this year will
average 6 percent, according to Franklin Templeton’s veteran
emerging markets investor Mark Mobius.

Economic growth and rising commodity and food prices are
fuelling inflation in emerging economies, but Mobius said these
countries have previously withstood inflation running into the
thousands of percent, such as in Brazil.

    • About Cecilia

      "In my professional capacity I canvass fund managers, consultants and pension schemes on investments issues and write analytical pieces on investment trends. I also consult investors on M&A matters. My brief includes Islamic finance, especially sukuk issuance and Islam-compliant asset management themes. I joined Reuters News in September 2008 from Thomson Financial News, where I was European pension correspondent."
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