Foto: LendingMemo, Flickr, Creative Commons.. Brókers y custodios corren el riesgo de perder negocio por la elevada edad de los asesores con los que trabajan
43% of financial advisors are either at or are approaching retirement, according to new research from global analytics firm Cerulli Associates. “The average age of financial advisors is 50.9 and 43% are over the age of 55,” reports Kenton Shirk, associate director at Cerulli. “Nearly one-third of advisors fall into the 55 to 64 age range.”
And this creates challenges. “As the advisor population ages, broker/dealers and custodians are at risk of losing AUM as advisors exit the industry,” Shirk explains. “The independent channels are most at risk because they have the oldest advisors on average.” Broker/dealers continue to struggle to recruit new young advisors into the industry to offset those advisors who are nearing retirement, Shirk continues.
Cerulli suggests firms encourage advisor teams to bring in junior advisors and train them in a specific area of expertise in order to increase the success rate of these new recruits. To guard against asset attrition, broker/dealers and custodians need to provide support and resources to help advisors tackle succession planning, and development of internal succession candidates.
CC-BY-SA-2.0, FlickrLéon Cornelissen, Robeco’s Chief Economist. Three Reasons Why Deflation Won’t Take Hold in the Eurozone
Inflation used to be the main focus for European central bankers’ interest rate policy as prices rose forever upward. Now their main fear as we begin 2014 is the reverse scenario – the risk of deflation. It is potentially a huge problem, as falling prices mean that consumers do not buy goods because they expect them to become cheaper in the future, stalling economic growth and triggering a recession.
However, there are three reasons why a Japanese-style era of falling prices that cost the country a ‘lost decade’ in the 1990s will not take hold in the Eurozone, says Robeco’s Chief Economist, Léon Cornelissen.
“The economic recovery, a strong will by policymakers and a wholly different culture combine to make deflation extremely unlikely in the Eurozone,” says Cornelissen in his January outlook for investors.
It’s thanks to the euro’s success! The risk has ironically been largely caused by the recent success of the euro. After years of underperformance as the Eurozone lurched from one crisis to another, the euro has appreciated by almost 13% against other major currencies since mid-2012. The Japanese experience was that a strong yen markedly contributed to the country’s slide into deflation in the 1990s.
The evidence for deflation is certainly getting stronger. Figures published on 7 January showed that headline inflation fell to 0.8% on an annualized basis in December 2013 from 0.9% in November. Core inflation – which strips out more volatile food and energy prices – fell to a record low of 0.7% in December. But this implies disinflation, where the rate at which prices rise is reducing, rather than the more dangerous deflation, where prices actually fall.
“We see three arguments for optimism that deflation will not take hold in the euro area,” says Cornelissen. “Firstly, the Eurozone is experiencing a recovery, and the southern periphery in particular is enjoying an upswing. So it is hard to see how an accelerating European economy can fall into a deflationary trap.”
“Of course, some argue that the European recovery isn’t self-sustaining, and due to ongoing austerity measures, a fall back into a recession is likely. Not so. It is more likely that budget deficit and debt targets will be postponed once again until Eurozone economies are fully back on track.”
Super Mario will act on instinct Then there is the political and regulatory will. “Mario Draghi, the president of the European Central Bank (ECB), has already said that he is well aware of the deflationary risks and is prepared to act against them,” Cornelissen says. Inflation is already well below the ECB’s 2% target, but Draghi has insisted it cannot be allowed to permanently fall below 1% “and thus into ‘the danger zone’.”
“As interest rates in the Eurozone head towards zero, this is a clear signal that the ECB is prepared to resort to unconventional monetary measures if the need arises, putting pressure on the euro exchange rate and limiting deflationary risks.”
Thirdly, there are also significant cultural differences between Europeans and the Japanese, Cornelissen says. “The prospect of a Japanese-style deflationary environment is politically unacceptable within the Eurozone,” he says. “The long stagnation period in Japan can be partly explained by the unusually consensus-driven and mono-ethnic nature of Japanese society, which was prepared to suffer for the national good. Such stoicism is unlikely within the Eurozone.”
Banking union is the real problem Cornelissen says the real potential threat to deflation getting a foothold is “the slow, insufficient, unsatisfying progress towards a true banking union within the Eurozone, which is a recipe for slow growth.”
“Such a scenario fails to break the link between weak banks and weak states, and reminds observers of the Japanese-style ‘convoy system’ which keeps afloat the zombie banks that keep alive zombie companies, preventing creative destruction and a reset. That is, of course, partly true for the Eurozone.”
“However, the general health of the European banking sector is better than that of the Japanese. As such, the unhealthy tolerance of weak banks and sovereigns within the Eurozone is in our opinion more of a long-term problem for the bloc. This issue will be obscured by the ongoing recovery and therefore is insufficient to push the zone into Japanese-style deflation.”
It is also important to remember that the Eurozone has been in this situation before in the period just after the 2008 financial meltdown, Cornelissen says.
The Eurozone survived a brief period of deflation in 2008/09
As the graph above shows, in 2008/2009 a dramatic drop in inflation ended in a five-month period of mild deflation. “Such a short-term period of mild deflation is not a disaster, so long as deflationary expectations do not become entrenched. We are still far from such a development in the Eurozone,” Cornelissen says.
Robeco’s forecast is for inflation to gradually rise to 1.2% in the Eurozone in 2014 as growth picks up, in line with the consensus of other investment managers.
Wikimedia CommonsMohamed El-Erian . El-Erian Will Leave PIMCO in Mid-March
PIMCO announced that Chief Executive Officer and Co-Chief Investment Officer Mohamed A. El-Erian has decided to step down from his role and leave the firm in mid-March. He will remain a member of the Allianz International Executive Committee and, as of mid-March, also advise the Board of Management of Allianz on global economic and policy issues.
PIMCO’s founder William H. Gross will continue to serve as the firm’s Chief Investment Officer. At the same time, the firm has appointed a new portfolio management and executive leadership team. They will immediately begin to transition into their new roles.
Among these appointments, Andrew Balls will be Deputy Chief Investment Officer; Daniel Ivascyn, Deputy Chief Investment Officer; Douglas Hodge, Chief Executive Officer; Jay Jacobs, President; and Craig Dawson, Head of Strategic Business Management.
“Mohamed has been a great leader, business builder and thought leader for PIMCO and our clients. Together we have guided the firm and served our clients during a period of significant change in the global economy and financial markets. We are pleased that he will remain a part of the Allianz Group”, says Gross.
And added: “PIMCO‘s focus remains on delivering value to our clients through superior investment performance and client service. The firm’s new leadership team embodies PIMCO’s culture and values, and it reflects the strength and depth of our talent in both portfolio management and business management. With this team to lead us forward, PIMCO is in great hands.”
“I have been extremely honored and fortunate to work alongside Bill Gross, who is one of the very best investors in the world. His talents are truly exceptional, as is his dedication. I have also been amazingly privileged to work with the most talented group of professionals in the investment management industry. Their commitment and tireless work on behalf of our clients have been a consistent inspiration for me since I first joined PIMCO back in 1999. I wish them continued great success”, said El-Erian.
“PIMCO has become one of the leading investment management firms in the world through a relentless focus on performance, innovation, and delivering value to our clients, and that will not change. The firm has made important progress over the past several years to become ‘Your Global Investment Authority’ by expanding the scope of our investment platform and business, and we will continue to execute on this vision”, said Hodge.
The appointments
Balls is a Managing Director in the London office, a member of the Investment Committee and Head of European Portfolio Management. He joined PIMCO in 2006. Ivascyn is a Managing Director in the Newport Beach office, Head of Mortgage Credit Portfolio Management, and a lead portfolio manager for PIMCO’s alternatives investment strategies. Morningstar named him 2013 Fixed-Income Fund Manager of the Year (US). He joined PIMCO in 1998.
Hodge is a Managing Director in the Newport Beach office and is currently PIMCO’s Chief Operating Officer. Previously he led the firm’s Asia Pacific region from the Tokyo office. He joined PIMCO in 1989. Jacobs is a Managing Director in the Newport Beach office and is currently the Head of Talent Management globally. Previously, he was the Head of PIMCO’s German business, based in Munich. He joined PIMCO in 1998. Finally, Dawson is a Managing Director and is currently Head of PIMCO Germany, Austria, Switzerland and Italy, based in the Munich office. He is also Head of Product Management for Europe. In his new role, he will relocate to the Newport Beach office. He joined PIMCO in 1999.
Wikimedia CommonsMichael Baldinger, CEO de RobecoSAM. RobecoSAM publica el Anuario de Sostenibilidad. ¿Qué empresas llegaron a lo más alto?
RobecoSAM, the investment specialist focused exclusively on Sustainability Investing, today announced the publication of its annual Sustainability Yearbook. The yearbook looks back at companies’ sustainability performance in 2013 and ranks them as Gold, Silver or Bronze. The top performing company from each of the 59 industries is awarded RobecoSAM Industry Leader. Since 1999, RobecoSAM has been assessing and documenting the sustainability performance of over 2,000 corporations on a yearly basis and has a sophisticated proprietary database.
Corporate participation at an alltime high
A record number of companies participated in RobecoSAM’s Corporate Sustainability Assessment. Out of the largest 3,000 companies that are invited, 818 companies from 39 different countries participated with a 31% increase in participation from companies in emerging markets. RobecoSAM views this as a positive development in corporate sustainability and therefore recognizes the top industries by participation rate.
Ranking: The Top 3 Industries by Participation Rate
Household Products
Professional Services
Computers & Peripherals and Office Electronics
RobecoSAM raises the bar: Which companies make the cut?
This year, RobecoSAM made it more challenging to be a yearbook member. Now not only do companies need to be in the top 15% of their industrybut they must also achieve a score within 30% of their Industry Leader’s score to make the cut. This effectively makes being a yearbook member a more exclusive acknowledgement of a company’s sustainability practices.
For investors, the Sustainability Yearbook identifies companies that are strongly positioned to create longterm shareholder value. RobecoSAM’s annual Corporate Sustainability Assessment fouuses on examining financially material factors that impact a company’s core business value drivers. Factors such as a company’s ability to innovate, attract and retain talentor increase resource efficiency matter from an investor’s point of view because they impact a company’s competitive position and long-term financial performance.
Michael Baldinger, CEO, RobecoSAM said: “Companies still face the challenge of convincing investors to embrace sustainability as a means of generating shareholder value.” Baldinger is confident that this can change: “Starting with their own corporate pension funds, industry leaders are in an ideal position to encourage investors to integrate sustainability into their investment strategies.”
With the publication of the Sustainability Yearbook, Baldinger encourages the CEO’s of the RobecoSAM Industry Leadersto talk to their pension fund managers. He said: “Help them understand the financial and competitive benefits of corporate sustainability strategies and how these translateinto shareholder value”.
Each year RobecoSAM picks out the most prominent sustainability topics and shares its expertise through white papers in the prelude to the Sustainability Yearbook.The trending topics this year are:
Focus on Financial Materiality of Sustainability
Sustainability Leaders in the Emerging Markets –Myth or Reality?
Some of the biggest investment news in 2013 came from the technology sector and from startups across the globe. While the US, Europe and Asia still dominate the market with new startups launching every day, Latin America is bursting with innovation.
Startup Stock Exchange, a pioneer exchange and crowdfunding vehicle dedicated to startups, is experiencing tremendous demand and development in Latin America. In 2013 there were over 100 new companies that applied for seed investment funding. Additionally AngelList, an online social media community dedicated to linking investors with startups, has over 4,000 companies from Latin America alone.
Here are my top five startups to keep an eye on in 2014.
Puerto Finanzas – Argentina
Puerto Finanzas is at the top of my list, as it combines two sectorsthat are rising within the startup industry: Investment and Social Media. Puerto Finanzas enables users to connect with financial sector experts, companies and fellow investors. The site features social media techniques in order to be up-to-date with the latest investment trends such as following stocks, advisors, companies orinternal blogs by selected members. www.puertofinanzas.com
Nubelo-Chile
Nubelo is an online employment platform focused on Latin America. Companies and direct clients can hire freelance professionals invarious industries and evaluate the right candidates for each project. Nubelo also takes care of the hiring, tracking and even payment of the freelancer. Nubelo is now well established in the market and everyone is looking forward to new developments in Brazil and the rest of Latin America. www.nubelo.com
Cine Papaya – Peru
Cine Papaya is both a platform for online and mobile sales of movietickets and an online community for movie lovers. The cinema marketis well-established in Latin America, and Cine Papaya is making it easier to know what is available without suffer through long lines at the movie theater. www.cinepapaya.com
Tripfab – Costa Rica/USA
Tripfab is a collaboration between entrepreneurs from Costa Rica and the United States to create an online travel platform that connects travellers directly with travel businesses without the need for online or offline travel agents, or any other middleman involved. The niche exists because the most desired travel destinations in LatinAmerica are not currently offered via the large online travel agencies. www.tripfab.com
Unipay – Brazil
UniPay allows merchants to accept credit cards with a mobile application. The payment system is fast growing all over Latin America and being able to accept payments via credit card is good for both businesses and consumers. UniPay is growing very fast and I look forward to their growth in 2014. www.unipay.com.br
Foto: Camknows, Fckr, Creative Commons. Votando en el sector inmobiliario
Major institutional investors around the world are poised to increase their allocations to alternative investments, with a bias towards real estate and real assets, during 2014, according to a global survey of institutions conducted by BlackRock and with approximately 100 institutional investors surveyed, representing the firm’s Americas, EMEA and Asia-Pacific markets, including corporate and private pension funds, insurers, investment managers, and government entities. In total, the investors surveyed represent more than $6 trillion in assets under management, with an average AUM of $70 billion.
Approximately half of institutions surveyed– 49% – expect to increase their real estate allocation and over 40% indicated they will increase their investment in real assets this year. At the same time, about one-third of the institutional investors surveyed intend to reduce their cash holdings in 2014.
“Institutional investors are seeking to build portfolios better suited for an investment landscape characterized by low yields, sluggish growth, volatile markets, and rising correlation between stocks and bonds,” said Robert Goldstein, Senior Managing Director and head of BlackRock’s Institutional Client Business and BlackRock Solutions.
“Divergent economic and geopolitical conditions globally offer institutions a menu of real estate and real asset opportunities that meet a variety of investment objectives,” said Goldstein. “In real estate, while core, income producing investments in developed markets are still in favor because of their liquidity and safe cash flows, we anticipate that institutions looking for income-producing alternatives will turn their attention to more opportunistic real estate investments outside their home markets,” said Goldstein.
“We’re also seeing a growing interest in infrastructure debt. These types of investments can potentially offer institutions high fixed yields, with stable cash flows and long duration.”
Seeking Out Better “Portfolio Buffers”
“The results of the survey likely reflect a recognition that, going forward, the portfolio diversification benefit traditionally offered by equities and bonds might be less powerful than in the past,” Goldstein said. “Indeed, the price correlation between US equities and bonds, which had been negative from 2009 through mid-2013, has been positive ever since then – suggesting that institutions definitely will be looking to other asset classes for more effective ‘portfolio buffers’ in coming months.”
A Growing Interest in Hedge Funds and Private Equity
“Within the alternatives category, we believe hedge funds and private equity also will command a growing role in institutional portfolios in 2014, with investors casting a wide net for appropriate diversification tools,” said Goldstein.
Nearly 30% of institutions surveyed intend to increase their hedge fund allocations this year. In the Americas, over 40% of institutions are likely to increase their hedge fund allocation; none is planning a decrease. The trend is less true for EMEA, where 35% of institutions intend to allocate less to hedge funds and just 20% will allocate more.
Approximately one-third of institutions surveyed anticipate allocating more to private equity. Private equity is less popular with EMEA institutions and smaller investors (those with less than $20 billion in AUM), with these investors indicating they will either maintain or reduce current private equity allocations.
. World’s Ultra Wealthy Hold a Fifth of Their Wealth in Real Estate Assets
Private wealth is increasingly shaping the world’s real estate markets and the use of private equity in major property deals worth at least US$10 million has nearly trebled since 2009. Real estate now accounts for around a fifth of the invested wealth of the nearly 200,000 ultra high net worth individuals (UHNWIs) in the world, according to new analysis from international real estate advisor, Savills, in association with Wealth-X, the world’s leading UHNW intelligence provider.
In “Around The World In Dollars And Cents”, Savills estimates that the total value of the world’s real estate is now around US$180 trillion, some 72% of which is owner occupied residential property. Of the US$70 trillion that is ‘investable’ and therefore traded regularly – including US$20 trillion of commercial property – over half is being bought by private individuals, companies and organisations. Investing institutions, listed companies and publicly owned entities are becoming relatively less important to world real estate as a result.
Around 3%, or US$5.3 trillion, of the world’s total real estate value is owned by UHNWIs. This wealthiest 0.003% of the world’s population has real estate holdings which are worth an average of US$26.5 million each.
“Global real estate is mostly residential and held by occupiers, but private owners are becoming more important in the world of traded investable property,” says Yolande Barnes, head of Savills world research. “Since the ‘North Atlantic debt crisis’ of 2008, sovereign wealth funds, wealth management companies, private banks and family offices have stepped into the property deals that corporate bankers have deserted.
She added that: “In the world’s leading cities, the willingness of private wealth to take the place of debt finance or to take a higher-risk development position is now making the difference between deals done or schemes mothballed.” Savills estimates that around 35% (or 6,200) of global big ticket (>US$10m) deals in 2012 were only possible because of private funding.
Mykolas D. Rambus, CEO of Wealth-X, confirms the growing importance of private wealth: “We forecast that the UHNW population will grow by 22% by 2018, its combined wealth – currently US$27.8 trillion – is expected to total over US$36 trillion by 2018. This presents huge opportunities for those involved in global real estate investment to create the right product in the right locations.”
European and Asian UHNWIs hold by far the biggest share of all privately owned real estate, together accounting for almost 80% by value. European UHNWIs hold 31% of their wealth in real estate and Asians 27%, with a total value of around US$4.2 trillion, according to Savills.
The firm has also analysed the way private money moves around the real estate world and found that the majority (92%) of investments are within the ‘home’ global region. North America stands out as uniquely domestic, with American UHNWIs placing 99% of their real estate investments within their own country.
Meanwhile, mature and emerging nations have seen much more cross-border inward investment. Just under half (44%) of UHNWI investors in Africa and two-thirds (66%) in Latin America are from outside the home region.
European real estate markets are the largest and most international, having attracted the most global inward investment, relative to size, with London the standout global destination for private inward real estate investment from virtually every corner of the globe.
“In recent years there has been a tendency for UHNWIs to focus on ‘safe haven’, trophy properties for capital growth and wealth preservation”, says Barnes. “In future, we anticipate that some will begin to seek more productive, long-term income-producing positions. “UHNWIs will be competing more directly with institutional investors in future but, being more opportunistic and less constrained by formal criteria, are more likely to become pathfinders and pioneers than corporate investors are.”
Wikimedia CommonsFoto: Andos_pics, Flickr, Creative Commons.. Morningstar premia al equipo de Growth de Morgan Stanley IM como gestor del año en bolsa estadounidense
Morningstar has named Dennis Lynch and the Morgan Stanley Investment Management Growth Team as the 2013 U.S. Domestic-Stock Fund Manager of the Year. According to Morningstar, the U.S. Fund Manager of the Year awards “acknowledge managers who not only delivered impressive performance in 2013, but who have also delivered excellent long-term risk-adjusted returns, and have been good stewards of fund shareholders’ capital.”
The Growth Team is led by Dennis Lynch, Head of Growth Investing at Morgan Stanley Investment Management. As part of the award, Morningstar named four of the Growth Team’s funds: Morgan Stanley Focus Growth, Morgan Stanley Growth, Morgan Stanley Mid Cap Growth and Morgan Stanley Small Company Growth. In addition, each of the funds has a Morningstar Analyst Rating™ of Gold, the highest positive qualitative fund rating Morningstar assigns.
“Congratulations to Dennis Lynch and the Growth Team on achieving this significant recognition. In honoring Dennis and his team, Morningstar has selected investment professionals who have been creating an impressive body of work over many years on behalf of our clients,” said Gregory J. Fleming, President, Morgan Stanley Investment Management and Morgan Stanley Wealth Management.
“We are extremely proud of Dennis Lynch and the Growth Team for winning the Morningstar U.S. Domestic-Stock Fund Manager of the Year award. Morningstar has recognized a powerful investment philosophy that emphasizes long-terminvestments in companies with inherent sustainable competitive advantages, as well as a strong team culture that creates an environment where world-class investors can stick to their convictions,” said Arthur Lev, Head of the Long-Only Business for Morgan Stanley Investment Management.
Morgan Stanley Investment Management, together with its investment advisory affiliates, has over 560 investment professionals around the world and $360 billion in assets under management or supervision as of September 30, 2013. As of December 31, 2013, the Growth Team manages over $30 billion in assets on behalf of clients. The Investment Team seeks unique, high quality companies with sustainable competitive advantages, and focuses on long-term growth rather than short-term events. They manage concentrated portfolios that are highly differentiated from their benchmarks.
Wikimedia CommonsFoto: Urimal. Warburg Pincus se hace con una participación mayoritaria de Source
Source, an asset manager and one of the market leading European providers of Exchange Traded Products (ETPs), today announced that an affiliate of Warburg Pincus, a global private equity firm focused on growth investing, has committed to acquire a majority stake in Source. The existing shareholders, including five of the world’s largest investment banks (BofA Merrill Lynch, Goldman Sachs, J.P. Morgan, Morgan Stanley and Nomura), will continue as minority shareholders.
This investment highlights the significant opportunity available to grow Source’s assets and its highly compelling product offering to investors in the European ETP market. It also further reinforces Source’s position as a dynamic and independent asset manager.
Lee Kranefuss, currently an Executive-in-Residence at Warburg Pincus, will join Source as Executive Chairman where he will work closely with the current management team led by CEO Ted Hood in order to develop the business further. Mr. Kranefuss was the architect and Global Chief Executive Officer (CEO) of iShares, formerly part of Barclays Global Investors, which he built into the largest global ETF platform. Mr. Kranefuss oversaw the global expansion of iShares from launch in 2000 to managing over $600bn in assets in 2010. Warburg Pincus is a leading financial services investor and has significant experience in working with companies to support their growth globally.
Source offers market leading equity, fixed income, commodity and alternative market exposure through expertly engineered Exchange Traded Funds (ETFs) and Exchange Traded Commodities (ETCs). As a full service ETP provider, Source offers a number of unique products from select partners, including one from its recent partnership with CSOP Asset Management, a Hong Kong subsidiary of China Southern, one of the largest and oldest asset managers in mainland China. Source’s open architecture approach has enabled it to forge partnerships with global financial leaders such as CSOP, PIMCO, MAN GLG and LGIM. Since its launch in April 2009, Source has successfully collected over US$15 billion in total assets and its products have traded over US$510 billion.
This transaction will provide Source with substantial additional resources enabling it to further develop and launch new products, enhance existing products, expand client relationships and deliver investor solutions. Source and Warburg Pincus share the view that the ETP industry represents a substantial opportunity for growth and consolidation coming both from organic expansion and strategic combinations. This transaction will put Source in a strong position to pursue both of these avenues.
Ted Hood, CEO of Source, commented: “I am delighted to welcome Warburg Pincus as a shareholder and Lee Kranefuss as our new Executive Chairman. I am proud of everything that Source has achieved since it was founded only a few years ago and look forward to building on our success with the support of Lee and Warburg Pincus. This investment will provide us with additional capital to further enhance the value that we offer investors.”
Lee Kranefuss, incoming Executive Chairman of Source, commented: “I am excited to become part of the Source team and to work with the experienced management group in order to further accelerate the expansion and development of the business. The ETF industry is at an inflection point”. And continues: “I think that there is a tremendous opportunity for explosive growth over the next couple of years and believe that Source is well placed to become a top tier ETF provider, not only in Europe but also globally.”
Cary Davis, Managing Director at Warburg Pincus, commented: “Source has quickly established itself as a leading European provider of Exchange Traded Products and we are impressed with its track record and performance. We look forward to partnering with the current shareholders, Lee, Ted and the rest of the management team with a view to significantly accelerating the company’s growth plans.”
The transaction is subject to regulatory approval.
Wikimedia CommonsNew Henderson's logo . Henderson Rolls Out Global Rebrand
As Henderson Global Investors approaches its 80th anniversary, the group has launched new branding to better capture its renowned investment heritage and expanding global footprint. Henderson has significantly enhanced its global footprint and distribution reach in recent years, through organic growth and selective specialist acquisitions in the UK and across the globe.
In a bid to capitalise on the group’s evolution, and to widen the brand’s appeal to sophisticated investors across the globe, Henderson has today unveiled new visual branding.
While Henderson has embarked on an international growth strategy, the asset manager has remained true to the strong foundations formed in the UK many years ago – to provide investors with sustainable investment outperformance, alongside market-leading client service.
Alongside robust growth in the UK, continental Europe and the US, Henderson has continued to gain traction in a number of new markets – most recently in Latin America and Israel. The group is also building up its Australian asset management business and continuing its expansion in Asia.
In 2013 the group also streamlined its investment capabilities – bringing into focus its core competencies in European and global equities, global fixed income, alternatives and multi-asset solutions.
Andrew Formica, Henderson Group chief executive says: “We have laid the foundation for global growth over the past few years by streamlining and simplifying the business. This has resulted in us increasing our presence in international markets, both in terms of distribution and investment capability. “We now have a clear strategy to grow our global distribution capabilities and position the firm as a high-quality asset manager, offering first-rate products and services to a global audience. Our brand must reflect the trust, quality and delivery we promise.”
Rob Page, Henderson global head of marketing, adds: “Our business strategy remains dedicated to our valued clients, serving both retail investors and institutions across global markets. The changes to our visual identity are the first phase of the development of our brand to appeal to this increasingly sophisticated, global client base.
“The second phase of the rebrand will see the evolution of our core positioning: Knowledge. Shared. We are developing an industry-leading communications proposition, in conjunction with a number of major clients, which we believe will really deliver on our philosophy of putting our customers first.”
