Pixabay CC0 Public Domain. Amundi amplía su gama de ETFs ESG con una nueva estrategia de renta variable alemana
Amundi announced in a press release the expansion of its ESG ETF range, with the addition of a new passive investing strategy that offers broad exposure to the German equity markets while incorporating sustainable investment criteria. The fund is listed on Xetra and is offered “at a competitive price of 0.19% OGC”, stated the asset manager.
The Amundi DAX 50 ESG UCITS ETF is composed of the 50 largest German companies with strong sustainable profiles. It tracks an index that excludes all companies violating the international standards and involved in controversial weapons, as well as some sectors such as tobacco and thermal coal.
Amundi offers a comprehensive range of ETFs designed to make sustainable investing accessible to investors no matter what their ESG integration requirements and risk budgets are. In their view, this approach empowers investors to cost-effectively reflect their individual goals and values within their ESG allocations.
“We are delighted to enhance our offering of responsible ETFs, providing investors with the choices they need to implement cost-effective ESG portfolios. Building on our existing range of core ESG ETFs, we are now extending our offer through country flagship exposures like the S&P 500 ESG and today the DAX 50 ESG”, said Fannie Wurtz, Head of ETF, Indexing and Smart Beta at Amundi.
Meanwhile, Juan San Pío, Head of Sales at Amundi ETF for Iberia and Latam pointed out that with the expansion of their range, they make available to investors “new instruments that allow them to build and diversify their ESG strategies by helping to meet their sustainable investment needs with a simple, transparent and cost-efficient solution”.
Pixabay CC0 Public DomainBroker observando la evolución de las acciones en Wall Street. Wall Street
As every month, Gabelli provides investors a fresh overview of what has happened in the markets the previous month. In November’s outlook, Gabelli’s experts pay attention to three main topics.
Value
U.S. equities rallied sharply in November, posting its biggest monthly gain since 1987. Prospects for improved economic growth have been supported by progress on vaccines, expectations for more government fiscal stimulus, and a continued U.S. Federal Reserve accommodative monetary policy.
The greatest tailwind for U.S. stock was the upbeat news regarding coronavirus vaccines. Pfizer (PFE) and BioNTech (BNTX) disclosed that an initial analysis of a late-stage study showed their coronavirus vaccine candidate was more than 90% effective, while follow-up data put the efficacy rate at 95%. Shortly after, Moderna (MRNA) and AstraZeneca (AZN) also reported positive news with effective rates that also exceeded 90%. Despite the renewed spike COVID-19 cases, investors remain focused on the distribution and short-term availability of the vaccine.
Former Vice President Biden defeated President Trump in the U.S. Presidential election while the widely previewed “blue wave” failed to come to fruition as Republicans narrowed the Democrats’ majority in the House of Representatives and appear to be in a position to retain control of the Senate. The idea of a split Congress suggests minimal changes in tax and regulatory policies in the near future.
The removal of election uncertainty may have helped put more focus back on a statistically strong Q3 earnings season. 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.
Merger Arbitrage
Mergers and acquisitions activity remained robust in November with $388 billion of deals announced, an increase of 18% over November 2019 levels. Through the end of November, global deal activity totaled $3.2 trillion, down only 11% from 2019 activity.
December is off to a fast start with salesforce.com acquiring Slack Technologies for cash and stock totaling $26 billion, and consolidation of asset managers continued with Macquarie agreeing to acquire Waddell & Reed Financial in an all-cash deal valued at $1.6 billion.
We are finding investment opportunities in newly announced deals attractive, and continue to add to existing positions in our portfolio. Our absolute return investments also positively impacted performance in November. More specifically, HD Supply Holdings (HDS-$55.78-NASDAQ), a distributor of industrial products for maintenance, repair & operations, and other infrastructure applications, agreed to be acquired by The Home Depot for $56 cash per share, or about $8 billion. Home Depot previously sold its HD Supply business to private equity in 2007, and was taken public in 2013.
Convertible Securities
Global converts have outperformed as their asymmetric exposure to stocks and high concentration of tech, software, and other “stay-at-home” names proved to be valuable benefits amid the high volatility post-lockdown backdrop.
As of today, the global convertibles market has expanded more than 35% in 2020 to over $460bn, its largest size since fall 2008.
The portfolio management team is keenly focused on what the “reopening” may suggest about a cyclical rotation within the CB space, which currently has a heavy concentration of tech and growth names, We believe that in 2021 equities will grind higher while volatility remains supported amid the economic recovery, we are of the belief that the momentum in CBs will persist and that unprecedented monetary easing will continue to encourage aggressive behavior in risk assets. We think converts will once again prove valuable in this environment as they allow investors to own the upside cautiously with the benefit of asymmetric exposure.
We think the macro backdrop will remain broadly supportive of CB issuance in the near-term given stocks are close to highs, market volatility is still elevated, credit spreads remain wide versus pre-COVID levels, and investor appetite for new deals is strong. We have seen the pace of High Yield issuance picking up versus CBs in the second half of 2020 as spreads trended tighter. Nonetheless, we are confident CBs will still be relatively attractive to borrowers despite the decline of their explicit cost savings as they allow for easier and speedier access to capital markets than HY bonds
November proved to be a volatile month as investors weighed the US presidential election and rising COVID cases in both Europe and the US. Outright global CBs excelled as the ICE BofA Global Convertibles G300 (VG00) added more than 9.8% on a local currency basis last month, outperforming all other global asset classes and bringing its year-to-date total return to +25.8%. (see chart below)
US Converts posted their best monthly returns in November (+13.5%) and the U.S. convertibles market size finally breached the previous peak (in May 2008) to reach $373.8bn in market value.
Recent economic data may be suggesting that inflation has begun to rebound from its post-COVID lows, and inflationary concerns have begun to manifest in the prices of various assets, including gold and TIPS but our analysis of both convertible bond floors and cross-asset performance suggests that CBs are much less negatively impacted by rising inflation as traditional fixed income assets.
Column by Gabelli Funds, written by Michael Gabelli
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
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.
Pixabay CC0 Public Domain. Aberdeen Standard Investments crea una plataforma para invertir en el universo hedge funds
Aberdeen Standard Investments (ASI) has created a new platform that will allow investors to track a broad spectrum of investable hedge fund benchmarks for the first time. Drawing on the public market equity tracker model, where half of US equity assets are passively invested, the product looks to take a share of the 3 trillion dollars hedge fund market and attract new investors, explained the asset manager in a press release.
The platform will allow ASI to launch products which track the HFRI 500, a fund weighted index comprised of 500 investable hedge funds across a broad range of strategies calculated and published by Hedge Fund Research Inc. (HFR). The flagship HFRI 500 index tracking strategy is targeting an initial fundraising of 500 million dollars by May 2021 and will have an investment capacity in excess of 50 billion dollars.
The platform will also give access to HFR’s investable index family, with almost 30 underlying investable hedge fund strategy, sub-strategy and thematic indices giving investors the opportunity to choose those most suited to their needs. This is the latest development following a partnership formed in 2019 between ASI and HFR which will see the launch of a series of products on ASI’s dedicated index tracking platform.
“Own” the benchmark
“Our partnership with HFR means we are able to launch genuinely innovative benchmark tracking products. Before now products that attempted to track hedge fund benchmarks were both narrow in scope and the implementation approach resulted in investment outcomes that deviated from the return of the hedge fund industry. The funds available on the ASI index tracking platform are able to address these issues by physically owning each underlying fund benchmark constituents at the index weights, helping overcome the historical impediments”, said Russell Barlow, global head of alternative investment strategies at the asset manager
He also pointed out that the platform not only allows allocators to “own” the benchmark but also to express strategy, sub-strategy and thematic views in a pure way. “By doing so they can avoid the variability in return outcome comes from the idiosyncratic views expressed by a single fund”, he added.
Meanwhile, Joseph Nicholas, founder and chairman of HFR, stated that they are pleased to support this launch because, for the first time, investors can access HFRI Benchmarks. “The flagship HFRI 500 index is a global, equal-weighted benchmark comprised of the largest hedge funds that report to the HFR Database which are open to new investment and offer quarterly liquidity or better. It offers clients a benchmark that’s more representative of the hedge fund industry return while also allowing tracking products to deliver the return of the index as a gateway to investing in a broad, diversified set of hedge fund strategies from some of the most prominent managers in the world”, he commented.
Pixabay CC0 Public Domain. El 85% de los profesionales de la inversión tienen en consideración los factores ESG en sus inversiones
A new global research study released by CFA Institute reveals that 85% of investment professionals say that they take ESG factors into account when investing, up from 73% three years ago. The report shows how sustainable investing will shape the investment industry over the next decade, a trend that has been accelerated by the COVID-19 pandemic.
“The Future of Sustainability in Investment Management: From Ideas to Reality” demonstrates that this growth has been driven by client demand, with 69% of retail investors and 76% of institutional investors having interest in ESG. Although the future of sustainable investing includes many unknowns, the study advances three tenets where it goes further than its forerunners: it is additive to investment theory and does not mean a rejection of foundational concepts; it develops deeper insights about how value will be created going forward using environmental, social, and governance considerations; and it considers many stakeholders.
“Incorporating sustainability in investment management has become part of our industry’s mission to serve society by improving long-term outcomes. This moment represents a valuable opportunity for organizations to address this challenge and help shape a future worth investing in. As the focus on sustainability in investing gathers increasing momentum, it will eventually dictate the sustainability of investing itself”, says Margaret Franklin, CFA, President and CEO of CFA Institute.
Key areas of sustainable investing
The report also focuses on four key areas of sustainable investing. The first one is the rise of alternative data and its importance in sustainability analysis: 71% of participants believes that the rise of alternative data will make sustainability analysis more robust, while 62% agree that sustainability is an area where human judgement and active management will thrive, highlighting the often subjective and contextual nature of sustainability data.
The second area is the increased demand for sustainable investing expertise, as there is a relative scarcity of sustainability talent in the investment industry. CFA Institute used LinkedIn Talent Insights and found that the supply of expertise among core investment roles is limited but growing quickly. Of the 1 million LinkedIn investment professional profiles examined, less than 8,000 list ESG as an area of expertise. However, this figure has increased 26% in the last year. Meanwhile, 18% of 1,000 portfolio manager job posts on LinkedIn mention the desire for sustainability-related skills.
This contrasts with the growth of investor demand, that’s driving firms to change their business models and expand product offerings. In this sense, the research points out that, among the various ways to incorporate ESG into the investment process, ESG integration and best-in-class approaches are more popular than negative or exclusionary screening. That’s why future growth opportunities in the product space include ESG index tracking and quant funds, ESG thematic products, ESG multi-asset products, climate transition strategies, long-term engagement, and better benchmarks.
The last key area is the relevance of systems thinking in sustainability analysis. The study concludes that the COVID-19 pandemic has emphasized the urgency of sustainability issues, highlighted the interconnectedness of the financial system, and how corporate value creation both affects, and is affected by, the ecosystem in which it operates. CFA Institute believes that the integration of sustainability issues will require a more widespread application of system-level thinking.
“The demand for sustainable investing continues unabated, driven by push and pull factors, catalyzed by societal expectations, and accelerated by the Covid-19 pandemic. Investment firms that incorporate sustainability into their business models need access to specialist knowledge to enrich their investment capabilities and to bridge the data gaps. Education and training in the ESG space, along with the rise of alternative data sources and enhanced disclosure frameworks, will equip firms to deliver on the potential of sustainable investing”, says Rhodri Preece, CFA, Senior Head of Industry Research for CFA Institute.
All in all, the research explores the influences driving the sustainability trend and sets out implications for investment firms, including the need to better integrate data and to develop expertise to meet client expectations with innovative products. It includes perspectives from over 7,000 industry participants, including investment clients, investment practitioners, ESG specialists, and more.
Pixabay CC0 Public Domain. Los activos en fondos europeos alcanzaron los 11,8 billones de euros en 2020
Franklin Templeton has announced the launch of the Franklin K2 Emso Emerging Markets UCITS Fund, a sub-fund of the Luxembourg-domiciled Franklin Templeton Alternatives Funds (FTAF) range.
This new Emso product seeks to generate capital growth through strategic investment exposure, both long and short, primarily to debt securities of sovereign and corporate obligors and currencies, including derivatives related thereto, all principally in emerging markets, explained the asset manager in a press release.
The fund will mirror the strategy of the Franklin K2 Alternative Strategies Fund and will be managed by the same team, Emso’s CIO Mark Franklin and John Hynes, Senior Portfolio Manager. Since becoming a co-manager in April 2015, the strategy has an annualised return of 5.4% with a standard deviation of 4.5%.
Franklin Templeton stated that this range –which was launched last October- offers European investors access to liquid hedge fund strategies in a UCITS format with daily liquidity and transparency from K2 Advisors, “one of the pioneers in the development and use of low fee liquid hedge funds”, through their Managed Accounts Platform (MAP).
“We currently have five managers spanning across long/short equity, relative value, and event driven strategies and are delighted with the addition of the K2 Emso Emerging Markets fund to the platform. The manager’s flexible mandate allows the team to invest where they see value across a large universe, applying a consistent investment framework”, said Bill Santos, Senior Managing Director at K2 Advisors.
Meanwhile, Julian Ide, Head of EMEA distribution at Franklin Templeton, pointed out that, since the acquisition of Legg Mason in July, they have become “one of the biggest providers of alternative solutions globally” with 124 billion dollars in assets under management. “As we continue to focus on strengthening our cost-effective product range of liquid alternative solutions in Europe, we are pleased to launch this fund, which offers a differentiated global macro style of alpha generation and provides further robust diversification to client portfolios”, he added.
China and India are jostling for greater geopolitical influence, within the emerging world and beyond. Their ambitions are manifold. For instance, China aims to lead the world in AI technology, India to take China’s manufacturing mantle. But over the long run, they won’t achieve their aims through armed conflict on some high Himalayan glacier.
Rather, they’ll only do so by working towards the same goal of limiting global warming – and, along the way, will ensure the survival of the glacier they both claim.
A major, concerted effort at limiting how much global temperatures rise over the coming decades will pay significant dividends not just in China and India but for emerging economies generally. Were developed and emerging countries to work together in limiting global warming, they could roughly halve the loss in output they face by the end of the century compared to if there were no further climate change.
Emerging economies are much more vulnerable to rising global temperatures than their advanced counterparts. For instance, major cities around the world face annual losses of between USD300 billion and USD1 trillion in output from climate change-related sea level rises, according to modelling by Oxford University’s Smith School, in a report sponsored by Pictet Asset Management. China alone has 15 cities that risk losing as much as 4.7 per cent in GDP per capita per year from rising sea levels.
But this is not where China’s worries about global warming end. Temperatures in the country have been rising faster than the global average. Current projections are for a 13 per cent fall in the country’s crop yields by 2050 compared with 2000.
Meanwhile, India stands to be one of the biggest losers from global warming, risking more than a 60 per cent shortfall in GDP per capita by the end of the century relative to if temperatures stayed the same. A hotter climate threatens the country’s productivity levels. Knock-on effects to education will prove a drag on the accumulation of human capital and thus economic development. Agricultural output will also decline.
In Brazil, climate change will have a major impact on water availability – by the end of this century, two-thirds of the country will be classified as arid. This will hurt harvests and also energy production – hydro power accounts for some 60 per cent of the country’s electricity supply. Similar issues confront Mexico, Indonesia and South Africa.
Of major emerging market economies, only Russia is likely to benefit from rising global temperatures – at least, on the face of it. A melting Arctic would free more of Russia’s coastline, opening the region to trade and the exploitation of the region’s wealth of natural resources. But there’s a caveat. This doesn’t factor in the impact climate change would have on other countries’ demand for Russian goods. Subdued GDP elsewhere would very likely hurt Russian exports.
Read more about the Oxford-Smith paper at this link.
Except otherwise indicated, all data on this page are sourced from the Climate Change and Emerging Markets after COVID-19 report, October 2020.
Information, opinions and estimates contained in this document reflect a judgment at the original date of publication and are subject to risks and uncertainties that could cause actual results to differ materially from those presented herein.
Important notes
This material is for distribution to professional investors only. However it is not intended for distribution to any person or entity who is a citizen or resident of any locality, state, country or other jurisdiction where such distribution, publication, or use would be contrary to law or regulation. Information used in the preparation of this document is based upon sources believed to be reliable, but no representation or warranty is given as to the accuracy or completeness of those sources. Any opinion, estimate or forecast may be changed at any time without prior warning. Investors should read the prospectus or offering memorandum before investing in any Pictet managed funds. Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future. Past performance is not a guide to future performance. The value of investments and the income from them can fall as well as rise and is not guaranteed. You may not get back the amount originally invested.
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Foto cedida. Santander, reconocido como mejor banco de España y América por la revista The Banker
The Banker magazine has granted Banco Santander the award for Bank of the Year in the Americas and Spain. The publication highlighted Santander’s “ability to innovate and to adapt solutions developed in one market to other businesses within the group”, as well as its ability to deliver returns, gain strategic advantage and serve their markets.
The Banker -founded in 1926- also emphasized Santander’s “outstanding commitment” to responsible banking, including its efforts to promote education, social welfare and financial empowerment with initiatives such as Superdigital, a platform which offers access to financial services to underbanked and individual micro entrepreneurs in Latin America, and Santander Ayuda, which promotes local projects for vulnerable people in Spain.
After receiving the recognition, Santander group chief executive officer, Jose Antonio Álvarez said that throughout 2020 their teams have worked hard to ensure they remain close to their customers in every market. “To be recognised by The Banker as the bank of the year across many of our markets is a great testament to their efforts in a challenging year”, he added.
The group’s diversification across both geographies and products remains one of the firm’s key strengths, with its South American region contributing 41% of underlying profit this year, North America, 20% and Europe 39%.
In Brazil, the magazine –which is part of the Financial Times group- recognized a number of innovation made by Santander during the year, including products like Sim, a fintech that provides quick and affordable loans; EmDia, a debt renegotiation platform that connects creditors with consumers in arrears, Santander Auto, a car insurance business or Pi: a fully digital investment platform, with an open architecture.
In Argentina, The Banker noted the new services and products the bank now provides for female entrepreneurs and younger customers. For example, iU, a new product with benefits designed specifically for young people. The bank also offers a comprehensive proposition which focuses on female entrepreneurs, owners of SMEs and professionals.
Lastly, in Spain, they pointed out the extraordinary measures Santander has made to support its customers during the COVID-19 pandemic: “Through a commendable mix of product innovation and business agility, Santander Spain has played an invaluable role in assisting the country’s businesses and consumers through an unprecedented economic and health crisis,” the publication said.
Pixabay CC0 Public Domain. Savills IM amplía la alianza con Vestas con el lanzamiento de un fondo de logística de gestión discrecional
Savills Investment Management, international real estate investment manager, has announced in a press release the launch of a pan-European logistics investment fund in partnership with Vestas Investment Management.
The Vestas European Strategic Allocation Logistics Fund (VESALF I) is amongst the first ever ‘blind’ funds that has been raised solely from Korean institutional investors to invest in European real estate. It will target core and core-plus logistics assets of between 40 to 140 million euros across all key European markets.
Savills IM will be the European fund and asset manager in partnership with Vestas, who has raised 200 million euros which, combined with manager co-investment and up to 60% gearing, will give the fund a target gross asset value of 450-500 million euros, as estimated by the firms. The strategy will be seeded with the recent acquisition of a new 115,000 square meters unit leased to DSV in Tholen, the Netherlands.
“Having advised and worked closely with Vestas for several years, we are delighted that the relationship has now led to us jointly establishing the first blind logistics fund for Korean institutions. It is a key milestone for both of our firms, and a clear sign of how the Korean market is maturing. Institutions are increasingly willing to back partners they trust, to better access stock in competitive markets and to achieve greater portfolio diversification”, said Jon Crossfield, Head of Strategic Partnerships at Savills IM.
Meanwhile, Salvatore Lee, Managing Director at Vestas Investment Management, pointed out that they are very pleased to set up this blind logistics fund with Savills IM “and to be able to bring a valuable new product to my proactive Korean investors in such a dynamic and competitive logistics market”. In his view, this is a big step for Vestas and builds on their five-year history of overseas investments.
“We are very grateful to the Savills IM team who have supported and are now partnered with us. We are excited to continue deploying the capital on behalf of VESALF I over the next two years”, he added.
Hecksher Partners announced this week the launch of NexGen360.io, a global fund solutions and advisory business that provides customized support to hedge funds, private equity managers, family offices and individuals in need of cost effective operational, structural and management solutions.
The firm pointed out in a press release that, in a new post-COVID-19 era, NexGen360 means to fit the new reality of the fully outsourced model for the asset manager, delivering efficiencies and cost savings while providing “a next generation 360 degree full solution suite of services”.
In this sense, the platform will deliver seasoned senior executive knowledge to clients on a fractional basis through an Outsourced C-Suite panel covering COO, CCO, CFO, GRO and GMO in charge of operations, finance, compliance, risk management and marketing. In addition, through their ring-fenced marketplace and partners they will offer complete bespoke services and technology solutions at a fraction of the cost on the street.
“We are firm believers of challenging the status quo seeking more optimal solutions that deliver significantly better results for the asset manager in a shorter and more cost-effective time frame. Over the years we have seen a thing or two and the opportunity to be disruptive in the market sector by opening up new avenues and ways of building, optimizing and growing funds” said Thalius Hecksher, CEO and founder of Hecksher Partners, who has been involved in the global funds arena for the last 25 years.
He also commented that they set out to help their clients future proof their business models utilizing AI, new technologies and more efficient workflows. This leads to a reduction in the expense ratio, increased responsive times, reduced bureaucracy, and the ability to fully optimize the virtual workplace with the agility to pivot to adapt to market conditions.
“2020 delivered a new paradigm shift in how we work together in a co-location environment and access to our extraordinary caliber of talent pool opened up global access to local knowledge. We build each client team based on their idiosyncratic needs,” he revealed.
Hecksher concluded that their goal at NexGen360 is to help clients build, optimize and grow through their three “delivery pillars”: knowledge, network and solutions.
Pixabay CC0 Public Domain. Inversis apuesta por una cartera diversificada, con la atención puesta en emergentes y en EE.UU.
Allfunds, wealthtech and fund distribution company, has been selected by China Merchants Bank (CMB) Group as its B2B investment fund platform partner. Therefore, it will become the provider of access to third-party funds for its all overseas PWM&PB centers, especially in Hong Kong and Singapore markets.
Allfunds revealed in a press release that, with this agreement, CMB group will use its “proficient fund distribution capabilities to support its fast growing private wealth management and private banking business globally”. This move is also in line with the bank’s strategy of continuing to deploy overseas business, and to make sustainable development and investment.
By selecting Allfunds, CMB’s overseas businesses will be able to gain access to the world’s largest fund distribution network with a broad range of investment funds and take advantage of the asset services the wealthtech provides in Asia and globally. This include data & analytics, portfolio & reporting tools, research and regulatory services. Also, CMB aims to use Allfunds’ automatic dealing to increase the efficiency and boost the growth of its fund business.
Allfunds believes that the cooperation with the leading private bank in China -and Top 10 banking brands according to The Banker magazine- will provide an opportunity to further expand and strengthen its position in Asia Pacific, as well as enhance its comprehensive and integrated solutions for third party funds. The Asian market is a core part of its growth strategy and an extremely important region for the wealthtech.
“We are very pleased to partner with CMB, a highly reputable and leading private bank in China. We are excited about the huge opportunities ahead in the Asian and Chinese wealth management markets, which is an important part of our growth strategy as we continue to expand the global fund distribution network. We look forward to supporting CMB’s continuous expansion in the region”, said Juan Alcaraz, Founder and CEO of Allfunds.
Meanwhile, David Pérez de Albeniz, Regional Manager for Asia, stated that CMB is well-established with the position of an innovation-driven digital bank in the region. “As a leading wealthtech company, our team in Asia is committed to client experience, innovation and digital solutions. We are delighted to be able to help CMB move forward on the vision and support its growth ambition with our value-added and cutting-edge wealthtech solutions”, he added.
Allfunds has a branch in Singaporeand a team of 17 employees who bring in-depth knowledge of the particularities of the Asian markets as well as substantial experience in the region. Earlier this year, they opened a new office in Hong Kong as the hub for its North Asia business, broadening its ecosystem with new distributors and fund managers coming from the region.
