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The past 18 months have brought vindication of the approach to hedge fund investment offered by Crédit Agricole Structured Asset Management.
Innocap may not have the high profile of some players in the hedge fund managed accounts sector, but it has the longest experience of any of them.
Intech Investment Management has launched its first enhanced global equity strategy.
It has been seeded with funding by one of Europe’s largest pension funds.
The strategy is an extension of both Intech’s global core and enhanced index strategies.
As of 30 November 2009 Global Core has returned 3.88 per cent, annualized and gross of fees, since its inception on 1 January 2005, outperforming its benchmark, the MSCI World Index, by 1.65 per cent.
Enhanced index has returned 2.98 per cent, annualized and gross of fees since its inception on 1 April 1998, outperforming its benchmark, the S&P 500 Index, by
Having received all the regulatory approvals needed to create their combined asset management arm, Crédit Agricole and Société Générale are incorporating Amundi on 31 December 2009 and starting operations on 1 January 2010.
Georges Pauget, chief executive officer of Crédit Agricole, will be chairman of the board of directors.
Séverin Cabannes, deputy chief executive officer of Société Générale, will be vice chairman and Yves Perrier (pictured), head of asset management and institutional services at Crédit Agricole and chairman and chief executive officer of CAAM Group, will be Amundi’s chief executive.
The board comprises 15 members, two-thirds of whom are appointed
Global Fund Media and its staff wish all our readers a very happy (and relaxing) holiday season.
State Street has signed an acquisition agreement with Intesa Sanpaolo, one of Italy’s premier banking groups, to acquire its securities services business, ISPSS, for approximately EUR1.28bn (USD1.87bn) in cash at closing.
State Street expects to support the acquired ISPSS balance sheet with approximately EUR560m (USD800m) of additional capital at the closing.
ISPSS is a provider of securities services in the Italian market and has a significant presence in the Luxembourg market.
State Street would acquire the global custody, depository banking, correspondent banking and fund administration portions of the ISPSS business.
In addition, assuming the cash balances in the business are
Calamos Asset Management has named Nick Calamos president of investments and co-chief investment officer and Jim Boyne president of distribution and operations.
Nick Calamos (pictured) previously served as senior executive vice president and also serves as Calamos’ co-chief investment officer.
Boyne previously served as senior vice president and chief operating officer for distribution at Calamos Financial Services, and as senior vice president and general counsel for CLMS and its affiliates.
"Nick has been instrumental in shaping Calamos’ research and investment process over the last 25 years, generating solid long-term performance for our clients," says chairman, chief executive and co-chief investment
SunGard has released a new version of its VPM portfolio accounting solution for hedge funds.
SunGard’s VPM version 9.0 provides hedge funds with an enterprise-level portfolio accounting application that is built on a service-oriented architecture for plug-and-play integration with a firm’s existing applications and scalability.
It also provides a new user interface focused on increasing operational efficiency, simplifying workflows and providing intuitive access.
Denise Valentine, senior analyst at Aite Group, says: “Regulators and institutional clients are fixated on transparency and improved reporting from their asset managers. Recent scandals mean clients have higher standards on reporting – including requiring a rapid
The international derivatives exchange Eurex will offer futures contracts based on particular dividends of individual shares from 11 January 2010.
Eurex will launch dividend futures on the constituents of the Dow Jones Euro Stoxx 50.
Following the introduction of the index dividend futures on the Dow Jones Euro Stoxx 50 in June 2008, Eurex is further expanding its offering. For the first time in Europe the pure dividend component of the underlying stocks of a benchmark equity index are available for exchange trading and clearing as a standalone product.
Peter Reitz (pictured), member of the Eurex executive board, says: “The
