Are Emerging Markets Becoming Safer than Developed Markets?

  |   For  |  0 Comentarios

¿Se han vuelto los mercados emergentes más seguros que los desarrollados?
CC-BY-SA-2.0, FlickrPhoto: Dennis Jarvis . Are Emerging Markets Becoming Safer than Developed Markets?

When looking at global growth expectations for the near future, we continue to see a confirmation of the increasing weight of emerging markets (EMs) in the global economy and further divergences in the growth path between them and developed markets (DMs).

According to Matteo Germano, Global Head of Multi-Asset Investments at Pioneer Investments, all in all, EMs appear to be in a more resilient position, but they are still exposed to major risks, with a slowdown in China being the most significant. While China continues to play the most relevant role in the emerging space, other countries, such as India, continue to increase their relevance.

Ampliar

India’s economy experienced outstanding economic performance in Q1 2016, when GDP grew by 7.9% YoY, the most in two years. Going forward, Pioneer expects continued positive momentum in economic activity but much more moderate than in Q1 2016. For calendar year 2016, we expect GDP will grow a bit more than in 2015, at around 7.5% YoY on average.

“India is a relatively protected economy with respect to the damage that could come from a further slowing in global trade induced by the Brexit vote. Gross Exports as size of GDP at around 20% are on the lower side of the range for Asia Pacific countries.” Says Germano

The recently announced departure of Central Bank Governor Raguram Rajan is raising some uncertainty with respect to the way the new Governor will conduct monetary policy, starting from a revision of the inflation target, viewed by many as too low for a country such as India.

At the political level, preparation for next year’s elections is gaining momentum; recently, Prime Minister Modi decided to reshuffle his Cabinet after a careful screening process based on merits. The aim is to push ahead his program, changing ministers in favor of a more reform-oriented group of people, with an eye on the next electoral contest at the state level.

For the Pioneer expert, Post-Brexit vote, the focus has shifted towards the potential spillover of a slowdown in Eurozone and UK growth to other EMs. Obviously, the close economic, social and political linkages of Emerging Europe to the Eurozone and UK, the CEE4 countries (Czech Republic, Hungary, Poland and Romania) are expected to be the most impacted within EMs.

“From an investment perspective, we believe that the attractiveness of EM assets is increasing. EM bonds, having proven to be quite resilient during the recent stress phase, offer additional yield versus the compressed returns in developed markets.” He says.

Germano believes the dovish monetary policy stance prevailing in advanced economies could be supportive for EM currencies. “In EM bonds, selection will be key, as different economies are at different stages of their development process and face different challenges. EM equities also proved to be resilient in this market phase, outperforming the global equity market year-to-date. Within EM equities, we maintain our positive view regarding India’s and China’s “new economy” sectors, which could benefit from the move towards a more service-driven economy.” He concludes.

Which Ones are the Top Alternative Asset Managers?

  |   For  |  0 Comentarios

¿Quién gestiona los 6,2 billones de dólares asignados a fondos alternativos?
CC-BY-SA-2.0, FlickrPhoto: Verónica Díaz Mateos . Which Ones are the Top Alternative Asset Managers?

Total assets managed by the top 100 alternative investment managers globally reached $3.6 trillion up 3% on the prior year, according to research produced by Willis Towers Watson. The Global Alternatives Survey, which covers ten asset classes and seven investor types, shows that of the top 100 alternative investment managers, real estate managers have the largest share of assets (34% and over $1.2 trillion), followed by hedge funds (21% and $755bn), private equity fund managers (18% and $640bn), private equity funds of funds (PEFoFs) (12% and $420bn), funds of hedge funds (FoHFs) (6% and $222bn), infrastructure (5%) and illiquid credit (5%).

The research also lists the top-ranked managers, by assets under management (AuM), in each area. Data from the broader survey (all 602 entries) shows that total global alternative AuM is now $6.2 trillion.

Luba Nikulina, global head of manager research at Willis Towers Watson, said: “Institutional investors continue to focus on diversity but not at all cost. While inflows into alternative assets continue apace, investors have become more mindful of alignment of interests and getting value for money. This has contributed to a further blurring between individual ‘asset classes’, as investors increase their focus on underlying return drivers with the ultimate objective of achieving true diversity and making their portfolios more robust in the face of the increasingly volatile and uncertain macroeconomic environment.”

The research – which includes data on a diverse range of institutional investor types – shows that pension fund assets represent a third (34%) of the top 100 alternative managers’ assets, followed by wealth managers (19%), insurance companies (10%), sovereign wealth funds (6%), banks (2%), funds of funds (2%) and endowments & foundations (2%).

The research shows, among the top 100 managers, that North America continues to be the largest destination for investment in alternative assets (50%), with illiquid credit and infrastructure being the only asset classes where more capital is invested in Europe. Overall, 37% of alternative assets are invested in Europe and 8% in Asia Pacific, with 5% being invested in the rest of the world.

According to the research, Macquarie Group is the largest infrastructure manager with over $95bn and tops the overall rankings, while Blackstone is the largest private equity manager with over $94bn and the largest real estate manager with also almost $94bn. In the ranking Bridgewater Associates is the largest hedge fund manager with $88bn and Blackstone is the largest FoHF manager with almost $68bn. Goldman Sachs is the largest PEFoF manager with almost $45bn and M&G Investments is the largest illiquid credit manager with over $33bn. PIMCO is the largest commodities manager with $10bn, the largest manager of real assets is TIAA with over $7bn and LGT Capital Partners is the largest manager of Insurance-linked investments.

Columbia Threadneedle Unveils Low-Cost, Diversified Liquid Alternatives Fund

  |   For  |  0 Comentarios

Columbia Threadneedle lanza un fondo alternativo líquido diversificado de bajo coste
CC-BY-SA-2.0, FlickrPhoto: Krzysztof Belczyński. Columbia Threadneedle Unveils Low-Cost, Diversified Liquid Alternatives Fund

Columbia Threadneedle Investments has launched a new, innovative absolute return strategy in form of the Threadneedle Diversified Alternative Risk Premia Fund, following regulatory approval by the CSSF (Commission de Surveillance du Secteur Financier) in Luxembourg.

The strategy is designed to capture the excess returns arising from exposure to market anomalies (the ‘alternative betas’ or ‘risk premia’) across all major asset classes (equities, fixed income, credit, currencies and commodities) and all major investment factors (value, style, curve, carry, short volatility and liquidity).

The daily liquid, transparent and diversified UCITS fund is managed by Dr William Landes, Marc Khalamayzer and Joshua Kutin, out of Boston, US, who between them have close to 50 years of asset management experience. The fund managers benefit from access to non-traditional sources of returns as well as macro inputs from Columbia Threadneedle’s wider asset allocation team, meaning that liquid risk premia exposures are tactically adjusted where macro events are believed to influence the holdings.

William Landes, Head of Alternative Investments & Deputy Head of Investment Solutions at Columbia Threadneedle Investments, said: “In the search to maximise and diversify their portfolio returns, institutional investors have often turned to multi-strategy or fund of hedge funds. This strategy offers many of the risk premia attributes present in multi-strategy hedge funds at a much lower cost. Now that tools have been developed which allow financial market anomalies to be cost-effectively packaged, alternative risk premia strategies present an attractive investment solution for institutional investors.”

Dominik Kremer, Head of Institutional Distribution in EMEA and Latin America at Columbia Threadneedle Investments, said: “We believe this is a truly unique offering in the marketplace. Our portfolio managers use advanced portfolio construction techniques, invest in a wide array of different risk premia across all major asset classes and combine this with an active, macro-driven tactical approach. In our minds, our strategy is an innovative solution for institutional investors seeking to both enhance portfolio returns and provide true diversification at a time when economic and financial conditions make investing increasingly challenging.”

 

A Stellar Year for the Old Mutual Total Return Bond Fund

  |   For  |  0 Comentarios

Bill Gross: "En deuda soberana no merece la pena el riesgo"
CC-BY-SA-2.0, FlickrPhoto: Pau. A Stellar Year for the Old Mutual Total Return Bond Fund

Just over a year ago, on July 6th 2015, Old Mutual Global Investors, part of Old Mutual Wealth, welcomed Bill Gross back as fund manager of the $330 million Old Mutual Total Return USD Bond Fund.

The fund seeks to maximise total return consistent with preservation of capital and prudent investment management. Ranking in the 1st quartile, the Fund has returned 7.61% against the benchmark’s return of 6.97%

Heading into the second year of managing this fund under Janus Capital Group, while facing a fairly stagnant economic environment and with the possibility of de-globalisation, Bill said: “Worry for now about the return ‘of’ your money, not the return ‘on’ it. Our Monopoly-based economy requires credit creation and if it
stays low, the future losers will grow in number. Until governments can spend money and replace the animal spirits lacking in the private sector, then the Monopoly board and meagre credit growth shrinks as a future deflationary weapon.”

When asked where he was looking for value in the bond market, he added: “Sovereign bond yields at record lows aren’t worth the risk and are therefore not top of my shopping list right now; it’s too risky. Low yields mean bonds are especially vulnerable because a small increase can bring a large decline in price.”

He also commented about his time as an investor, saying: “In an industry driven by facts and figures, stats and claims, here is another; I am heading very close to marking a half century of financial industry experience. Yes, much has changed in those near on five decades but for every challenge there has been an equal measure of opportunities. This portfolio can invest across global fixed income markets with the flexibility to utilise the high conviction views that me and the team have, in order to capitalise on those challenges and opportunities in a balanced way. Each day seems to bring fresh investment prospects, though all viewed with a cautionary caveat at this time.”

Warren Tonkinson, managing director, Old Mutual Global Investors comments: “We were thrilled that we were able to welcome back Bill as steward of this fund, and a year on the performance numbers speak for themselves. The past year has thrown up a number of economic curve balls which Bill and his team have been able to deal with, if not avoid, thanks to their vast experience of managing bonds throughout complex market conditions. Our thanks go to Bill for steering this fund positively through ‘choppy waters’. We look forward to working with Bill and the team for many years to come.”

Wealth Firms Must Improve Digital Maturity to Avoid Profit Loss

  |   For  |  0 Comentarios

Las firmas de gestión de patrimonio deben madurar digitalmente para evitar la marcha de clientes millonarios: hasta un 56% del negocio está en peligro
Photo: Oberazzi, Flickr, Creative Commons. Wealth Firms Must Improve Digital Maturity to Avoid Profit Loss

Long-term success for wealth management firms will in part depend on their willingness to explore collaborations and partnerships with FinTech  companies, as well as improve their digital maturity finds the 20th annual World Wealth Report (WWR) released by Capgemini.

According to the firm, wealth management firms are missing the mark when it comes to implementing digital capabilities, and as a result, are putting profits, client, and employee retention at significant risk. They note that up to 56 percent of firms’ net income could be at risk due to client attrition due to lacking digital capabilities. The report also finds that more than half of wealth managers (55 percent) are not fully satisfied with their firm’s digital capabilities and consequently, over a third (39 percent) would even consider looking for employment elsewhere.

“As wealth firms and wealth managers face a number of converging market dynamics, including increased competition from FinTechs, firms need to be making progress on all aspects of their digital capabilities to ensure they remain relevant to clients who may be wooed by their technology-driven competitors,” said Anirban Bose, Head of Global Banking and Capital Markets, Capgemini’s Financial Services Business Unit. “The latest World Wealth Report findings reinforce the need for firms to adapt to meet evolving client and manager expectations alike, as nothing less than a high level of digital maturity will be adequate in the face of digitally-native competitor providers.”

Limited digital maturity despite increased HNWI demand and threat from FinTechs
With High Net Worth Individual (HNWI)  demand for digital services continuing to increase in areas where FinTechs are strong, such as automated advisory platforms, open investment communities and third party capability plug-ins, wealth management firms cannot afford to fall short in any aspect of their digital strategy. In the past year alone, the report found HNWI demand for automated advisory services has shot up nearly 20 percentage points, from 49 percent in 2015 to 67 percent in 2016. Additionally, 47 percent of HNWIs say they now use peer-to-peer platforms at least weekly to find out about investment ideas.

The correlation between digital maturity and asset acquisition and retention is only expected to increase in the coming years. Seventy-three percent of HNWIs reported that digital maturity is very or somewhat significant in their decision to increase assets with their wealth management firm over the next 24 months, a percentage that increases to 86 percent for HNWIs under 40.

Demand for digital tools runs high but satisfaction among wealth managers runs short
Wealth managers have joined HNWIs in expressing demand for digital tools with richer functionality. This was found to be true across all regions and age groups at 81 percent. Yet while wealth managers showcase high demand for digital, firms for the most part have not fulfilled these requests. Less than half of wealth managers are satisfied with their firm’s digital capabilities, despite citing digital tools as valuable in supporting a number of functions, including increased collaboration with clients (86 percent), the ability to better leverage client data to identify growth opportunities (82 percent), and even time savings through reduced paperwork time (82 percent). 

Social media and mobile tools were found to be especially lacking, with wealth managers of all ages saying that view prospecting through social media is an important digital capability they require (60 percent), but it was the area with which they are least likely to be satisfied.

Wealth management firms must become digital leaders to achieve success
As their role evolves, long-term success for wealth management firms will depend on putting wealth managers at the center of digital disruption, and their willingness to explore collaborations and partnerships with FinTech companies. Engaging wealth managers will be important as more than three-quarters (79 percent) of wealth managers say they would like to pilot new digital tools, and more than half (53 percent) have already lobbied their firm to improve digital capabilities. A surprising amount (42 percent) has even invested their own money to purchase off-the-shelf software in an attempt to plug gaps in their firms’ offerings. Several of the world’s largest firms are currently exploring accelerator programs designed to attract startups interested in collaborating. Other firms are investing in or acquiring FinTechs in an attempt to jumpstart their digital capabilities, especially in the areas of automated advice and investment management services.

The report highlights how the most successful firms will be those that take bold steps to overcome resistance to change and embrace a world that increasingly values digital interactions.

You can explore the interactive report website at the following link.
 

 

Why Women Can Make Great Clients For Financial Advisors

  |   For  |  0 Comentarios

¿Son las mujeres clientes más rentables para los asesores financieros?
CC-BY-SA-2.0, FlickrPhoto: Ged Carroll . Why Women Can Make Great Clients For Financial Advisors

Working with female clients seeking financial advice is not always easy. They are more likely to be demanding, ask a lot of questions and mull things over for quite some time before making a decision. The good news, however, is that once a woman has gained an advisor’s trust she is likely to be far more loyal than her male counterpart. In our survey of 2000 French people, we found that 33% of women always speak with a financial advisor before investing. This compares with 26% of French men.

Women are better educated than ever before

Women’s role in society – and even in their own families – is changing. Educational levels have increased significantly in the last 20 years to the point where, in many western countries, there are now more girls graduating from high school than boys. According to the OECD, in the UK, one in two young women (aged 25-34) now holds a university degree. This is an historic high for the UK and higher than tertiary attainment rates in many other developed countries. In France, the comparable level is 47%, in Germany 31% and in the US 48%. In our survey, we found that 35% of female respondents had at least a baccalaureate compared with 31% of men. More men had higher degrees, but not many more: 12% of women had a master’s degree compared to 16% of men.

Who manages the household finances?

Traditionally, men have taken control of the family finances, but in our survey, 52% of French women said they were the primary financial decision-maker and 42% said they shared this responsibility equally with their husband. Only 6% said they left financial decisions entirely to their spouse.

A Pew Research Center study found women were the breadwinners in 40% of households with kids in the US. In the UK, the Institute for Public Policy Research found that a third of working mothers are the main breadwinners, an increase of about 50% since 1996.

In the US, the average woman saves more than her male counterpart and a study by the Family Wealth Advisors Council (FWAC) found that, at some point in their lives, 95% of women will be their family’s primary financial decision-maker. Already, US women control 51.3% of the country’s personal wealth.

Women largely ignored by the financial services industry

Yet, despite the enormous potential women hold as clients for fund managers and financial advisors, many reports find that the industry is still failing them. Heather Ettinger, co-author of the FWAC study, says that even though women are under increasing pressure to manage their family’s finances, 35% said they had no financial advisor and that when they worked with a financial advisor they were not satisfied.

A study by Fidelity investments found that when couples interact with a financial advisor, men are 58% more likely than women to be the primary contact. There can be dire consequences for the advisor if he ignores or belittles the wife. According to an Allianz Life Insurance study in the US (Women, Money and Power, 2008), about 70% of widowed women change their financial advisor within a year of their spouse’s death.

Women make profitable clients

Yet women can often make great clients for financial advisors because:

  1. Their levels of wealth have significantly increased
  2. Women now play a greater role in their family’s finances
  3. They tend to live longer than men and are more likely to inherit money or get a divorce pay-out that they will likely need help with to manage
  4. They are generally more loyal and profitable

A white paper by LPL Financial (‘Strategies for attracting and retaining female clients’) found that women tended to be more loyal and more profitable as clients because they stayed for long periods with advisors they trust. They are also more likely to refer business.

More female advisors needed?

Some argue that perhaps one reason for women’s current dissatisfaction with their advisor is that advisors are usually men. A white paper by Aprédia in France found that women managed only around 18% of independent advisor offices. Figures from Patrimonia (an annual convention for financial advisors in France) found that in 2014, only 14% of participants were women. US Census Bureau statistics from 2013 show that only 31% of financial advisors in the US were women.

How can advisors attract and retain more women?

There is an increasing amount of information and advice for financial advisors to help them gain the loyalty and trust of their female clients.

Justine Trueman is an executive in the International Marketing team at BNP Paribas Investment Partners.

China: A Transition Well Underway

  |   For  |  0 Comentarios

La búsqueda de rendimiento de los inversores favorece a los emergentes
CC-BY-SA-2.0, FlickrPhoto: Jean-Pierre Dalbéra . China: A Transition Well Underway

China’s first half macroeconomic data supports our view that the country is in the midst of a successful transition from a high-speed, heavy industry-based economy to a consumer and services-based economy, which, while decelerating, will remain the most important driver of global growth. We believe the challenges of continuing this transition will result in gradually slower growth rates and increased volatility, but the risks of a hard landing remain very low.

Winners and Losers in the Transition
To understand the trajectory of the Chinese economy, it is important to recognize that this economic transition is creating winners and losers. The services and consumption (tertiary) part of the economy, for example, remains robust and is now the largest part of the economy. This mitigates the weakness of the industrial (secondary) part of the economy, which is shrinking as a share of GDP.2016 will almost certainly be the fifth consecutive year in which the tertiary part of China’s economy will be larger than the secondary part, and the tertiary part is driving an increasingly larger share of economic growth. In the first half of this year, final consumption contributed about 73% of China’s GDP growth, up from a roughly 60% share in the first half of last year, and a 42% share for the full year of 2006.

Ampliar

A Healthy Chinese Consumer
The most important actor in this ongoing transition is the Chinese consumer, and we are keeping a careful watch over her health. In the first half of this year, her vital signs were excellent, but we are aware that as she matures, she is slowing down a bit.

China remains, in my view, the world’s best consumer story, with inflation-adjusted (real) retail sales rising 9.7% year-over-year (YoY) in 1H16, compared to a 1.6% pace in the U.S. in June. But that does reflect a modest deceleration, from 10.5% a year ago, because income growth, while still quite fast, is moderating.

Ampliar

 The Top Concern: Weak Private Investment
First half macro data suggests that the Chinese economy is stabilizing at a healthy pace, led once again by strong consumer spending and a hot (albeit somewhat cooler) housing market. My top concern is anemic investment spending by private firms: they are relatively profitable but are clearly not yet prepared to expand capacity or invest in more automation.

In 14 of the last 16 months, fixed asset investment by private firms—which account for about two-thirds of all fixed asset investment—rose more slowly than investment by SOEs. That trend, driven both by strong government spending on public infrastructure, which is channeled largely through SOEs, and by concerns about industrial overcapacity, reversed an earlier trend: prior to March 2015, investment by private firms rose faster than that of SOEs in 59 of the 60 previous months.

As the property market continues to cool and return to a more sustainable pace, a pickup in private sector capital expenditure will be important to preventing macro growth from decelerating too sharply. Overall, the Chinese economy is likely to continue on the same path as the last 10 years: gradually slower year-on-year growth with greater volatility, but there are no signs of a hard landing on the horizon.

Last year, China accounted for 35% of global economic growth, and if Brexit results in slower growth in the U.K. and anxiety in the developed West and in emerging Europe, the Chinese share of global growth could rise even higher. China—and the rest of the Asia region that Matthews Asia invests in, which (combined with China) accounted for about 60% of global growth last year—is likely to be considered a safe haven for investors, especially relative to European emerging markets.

Column by Matthews Asia written by Andy Rothman

AXA IM’s Nicolas Moreau Takes Over at Deutsche Asset Management

  |   For  |  0 Comentarios

Nicolas Moreau: nuevo responsable del negocio de gestión de activos de Deutsche Bank
Nicolas Moreau. AXA IM's Nicolas Moreau Takes Over at Deutsche Asset Management

Nicolas Moreau will join the Management Board of Deutsche Bank, effective October 1, where he will be responsible for Deutsche Asset Management. This decision was reached by the bank’s Supervisory Board at its meeting on Thursday. Moreau is joining from the French insurance company Axa, where the 51 year old has worked for 25 years in a variety of roles, including as Chief Executive Officer of Axa Investment Managers. Most recently he was in charge of the insurance company’s activities in France and served as a member of the Group Management Committee.

At Deutsche Bank Moreau will be based in London and will initially receive a three-year contract. He will succeed Quintin Price, who stepped down in June for health reasons. “Nicolas Moreau has a deep knowledge of the asset management industry, both from a supplier and a client perspective,” Supervisory Board Chairman Paul Achleitner said. “In addition he possesses a wealth of experience as a member of the management board of a complex, global financial institution, providing the ideal basis for further developing Deutsche Asset Management.”

The Supervisory Board also decided to appoint Kim Hammonds and Werner Steinmüller to the Management Board of Deutsche Bank with effect from August 1. Their terms will also initially be limited to three years.

As a result of the addition of Hammonds and Steinmüller, the Management Board of Deutsche Bank will comprise 11 members in future. “With Werner Steinmüller, we have entrusted a highly experienced and well-regarded banker with further expanding our business in Asia,” Supervisory Board Chairman Achleitner said. “He is a long-standing expert in this key growth region.” Achleitner said that Kim Hammonds has succeeded in getting fundamental changes to the bank’s IT systems off the ground in recent years. “She is responsible for a division that is essential for the transformation of Deutsche Bank.”

John Cryan, Chief Executive Officer of Deutsche Bank, welcomed the expansion of the Management Board: “Each of the three new members of the Management Board brings unique experience that strengthens us as a team. I’m pleased that Nicolas will add long-standing asset management experience to our board and that we are able to welcome Kim and Werner, who are both proven experts in their respective areas, to the board.”

Hammonds (49) has been employed by Deutsche Bank since November 2013. Under her leadership Deutsche Bank is executing a fundamental overhaul of its IT systems. Since the beginning of 2016, Hammonds has been responsible for the bank’s entire technology and operations, including digital transformation, information security, data management and corporate services. She will retain her role as Group Chief Operating Officer.

Steinmüller (62) joined Deutsche Bank in 1991. Since 2004, he has been in charge of transaction banking. He will be the first Management Board member in the history of Deutsche Bank to be based in the Asia-Pacific region. Steinmüller will manage business in this growth region from Hong Kong. He will remain in his role as Chairman of the Supervisory Board of Postbank.

José Viñals Leaves the IMF

  |   For  |  0 Comentarios

José Viñals, consejero financiero del FMI, deja su cargo y se incorporará a Standard Chartered
José Viñals, - Photo Youtube. José Viñals Leaves the IMF

José Viñals, the Financial Counsellor and Director of the Monetary and Capital Markets Department at the International Monetary Fund (IMF), has notified IMF Managing Director Christine Lagarde of his intention to return to Europe for family reasons after more than seven years at the Fund. He will take up the position as Chairman of the Board of Standard Chartered Bank later this fall.

“I believe José’s selection for such an important position is testimony to the very high regard in which he is held—for his experience, capabilities, and insights on financial issues. I have personally come to rely on his sharp intellect, analytical rigor, and ability to get to the heart of complex matters.” Lagarde said.

“As Financial Counsellor and Director of the Monetary and Capital Markets Department, José has worked tirelessly towards making the IMF a truly macro-financial institution. He has enhanced the Fund’s analytical breadth and depth on a wide range of issues—including monetary policy, macroprudential policy, international banking, and the financial sector. He has also been instrumental in promoting cutting-edge research and raising the profile of the Fund as a thought leader on financial stability,” she added.

Prior to joining the IMF in 2009, José had a distinguished career at the Central Bank of Spain, where he served as the Deputy Governor after holding a number of senior positions and serving on a range of advisory and policy committees at the central bank and within the European Union. A former faculty member in the Economics Department at Stanford University, he holds a Doctoral (Ph.D.) degree in Economics from Harvard University and a Master’s degree in Economics from the London School of Economics.

Viñals has relinquished his responsibilities as Department Director and Financial Counsellor. Ratna Sahay has been named Acting Director for an interim period. The search process to identify a successor to Viñals will begin right away.

MFS expands sales team for Switzerland and Austria

  |   For  |  0 Comentarios

Midcaps suizas y tecnología disruptiva marcan la diferencia en renta variable
CC-BY-SA-2.0, FlickrFoto: Kecko. Midcaps suizas y tecnología disruptiva marcan la diferencia en renta variable

MFS has announced the appointment of Anton Commissaris as managing director and head of Sales for Switzerland and Austria.

Based in Zürich, he will report to Matthew Weisser, managing director and head of European Wholesale Distribution at MFS.

He joins from Credit Suisse Asset Management, where he was in charge of fund distribution to the EMEA region, distributing to banks, insurances, external asset management firms and family offices.

Matthew Weisser comments on his appointment: “Anton’s appointment reinforces our commitment to expanding our distribution footprint in the Swiss and Austrian markets. He is a highly experienced sales director with over 24 years of expertise covering the Swiss wholesale market. I am confident that his in-depth knowledge — not just of the global banks, but also of the local markets will prove invaluable as we move forward.”