Paris-based boutique Métropole Gestion has turned seven of its France-domiciled funds (OPC) into French Sicavs, on 31 March 2017. This follows the implementation of measures by French regulator AMF aimed to render more attractive the French asset management industry, after the Frog working group issued a number of recommendations. French asset managers can turn their […]
M&G Investments, the asset management arm of Prudential, the UK insurer, has announced a commitment to launch a new family of Luxembourg Sicav funds by March 2019. This Sicav range will include funds which aim to follow the same investment strategies as those of M&G’s UK open-ended funds held by European investors. M&G is also establishing […]
Abante Asesores Gestión has become the first Spanish asset manager to use the European passport to manage an investment vehicle domiciled abroad – in this case Luxembourg. This has come through implementing control as manager of the Abante Global Funds Sicav; a vehicle launched three years ago that now claims some €300m in assets under […]
Spanish Sicavs are under scrutiny following allegations that wealthy individuals are obtaining tax advantages through this type of investment vehicle. Resident Spanish taxpayers typically pay capital gains tax rates of between 19% to 23%. However, those investing through a Sicav typically pay just 1%. Given this premise, all major political parties in Spain have pledged to revise regulation of Sicavs, which have become […]
The Spanish fund industry registered average returns of 2.4% in October, industry association Inverco has revealed. Sicavs registered in Spain reached total AUM of €367.5bn, a 2% increase in October. Since the beginning of the year, Sicavs in Spain have increased their total AUM by 14.9%, posting inflows of €47.5bn. Domestic funds, which were the […]
Italy’s networks of advisers posted €1.3bn net inflows in September, down from €1.9bn in August. As previously noted by asset management industry association Assogestioni, the slowdown was mainly driven by the significantly reduced level of inflows from collective types of investments, such as Sicavs. Mutual funds posted €628m in September, less than half compared to […]
Total net inflows in July amounted to €341m, of which €216m gathered by Banca Generali’s Financial Planner network (€1,496m YTD) and €125m gathered by Banca Generali Private Banking (€1,081m YTD). Despite market tensions due to the political outcome of Greek negotiations, as well as the fluctuations on the Chinese and commodities stock markets, the past few […]
Italy’s asset management industry has increased by 5% over the past two years, but it has failed to attract the country’s middle class, a recent joint report by Intesa Sanpaolo and Einaudi has revealed. From 2012, the percentage of investors has risen from 9 to 12%, with most part of the investments going to Sicavs (7.2%). This […]
Italy’s networks of advisers posted €1.6bn net inflows in January, industry association Assoreti has revealed. The result marks a drop of 38.1% compared with December 2014 but is up 24% yoy. Net sales from asset management products came at €668m in January (+11.9% yoy), while net sales from administered products were of €939m (+34.4% yoy). […]
US-based Ivy Global Investors has launched three new funds, broadening the products available to non-US investors. Ivy Global Investors Science and Technology Fund, Ivy Global Investors US Large Cap Growth Fund and Ivy Global Investors US Mid Cap Growth Fund join two existing funds in the Ivy Global Investors family, bringing the total number of […]
Goldman Sachs Asset Management (GSAM) has announced the launch of the Goldman Sachs Europe High Yield Bond Portfolio, a new sub-fund to the Ucits qualifying Luxembourg-based Goldman Sachs Sicav fund.
Pioneer Investments has launched Sicav- Absolute Return Sterling Bond,an extension of its Absolute Return Bond strategy.