Articles by Patrick Blum
2011 - The year as it was
InvestmentEurope looks back at some of the key events of the past year.
Incisive Research: Austrian selectors opt for caution and predictability
Austrian fund selectors tend to be conservative and prefer the tried and tested to flashy presentations and detailed rather than over-frequent reporting, according to a survey by Incisive Strategy Research & Consulting.
A daunting year ahead for fund managers in Portugal
2012 will be a difficult year for Portugal and the Portuguese asset management industry which will face rising competition fort scarce resources and an uncertain global environment.
Tough choices for another difficult year in Spain
It has not been a good year for Spain and the country’s fund managers and 2012 looks equally challenging with developments depending on factors outside the authorities’ control and on the new government’s ability to implement reforms and restore investor...
Spain: Rajoy outlines broad reforms
Mariano Rajoy, Spain’s new prime minister, has confirmed the key policies to be implemented by his government to deal with the country’s economic and social crisis.
Funds Watch and product launches
News from SWIP, Aviva Investors, Deutsche Bank, Lyxor, Pioneer Investments, Lipper, STOXX, S&P Capital
IMF Greece programme review is "alarming" says boutique
The International Monetary Fund’s fifth review of Greece’s rescue programme marks a welcome shift in the institution’s approach to the Greek crisis, but its suggestion to rewrite Greek law to make restructuring easier is “unprecedented and alarming,”...
UK financial services tax contribution continues to grow
The UK financial services sector contributed an estimated £63bn in UK government taxes in the 2010/11 financial year, accounting for 12.1% of total UK tax revenue, according to a report for the City of London Corporation by PwC.
EU venture capital proposals "a hindrance"
European Commission proposals for a directive to regulate venture capital funds will hinder rather than benefit venture capitalists, according to David Blair, head of regulation at law firm Osborne Clarks.
Worst is over in Europe debt crisis says Spanish BBVA bank group head
The worst of Europe’s debt crisis has passed and there will be no problems implementing measures agreed at the December 9 European Union summit, according to Francisco Gonzalez, president of the BBVA banking group.
October Ucits sales figures show mixed signals
Ucits registered net outflows of €30bn in October, reflecting exits from long-term Ucits and money market funds, though this was less than September’s €49bn, according to the latest investment fund industry fact sheet from the European Fund and Asset...
Funds Watch and product launches
News from Alliance Trust, Threadneedle, Anello AM, Systematic Alpha, Investec, Muzinich & Co, Esma
Positive outcome at European summit will help business - asset manager
A positive outcome at this week’s European Union summit will help Portugal’s asset management industry, though it will still face many problems, said Paulo Gonçalves, asset coordinator at Banco Popular in Lisbon.
IMF approves €2.2bn disbursement for Greece
The International Monetary Fund (IMF) has completed its fifth review of Greece’s economic performance and approved the immediate disbursement of SDR1.9bn (about €2.2bn) in financial aid. This brings total IMF financing under a stand-by programme for Greece...
Crisis spurs competition in Spain's fund management industry
The past year's financial turmoil has intensified competition across Spain’s asset management industry as companies fight for a share of a diminishing wealth market, with both local and international asset managers under pressure.
Funds Watch and product launches
News from Polar Capital, SYZ & CO, Natixis Global Associates, Cheyne Capital, Fitch, iShares
New publication for independent financial advisers in Spain
The Spanish economists association (CGCEE) has launched EAFInforma, a new publication to cover developments in the independent financial advisory industry.
HFA appoints director of its new southern Europe chapter
The Hedge Fund Association (HFA) has appointed José Castellano, managing director of Pioneer Investments, as director of a new southern European Union chapter for the organisation.
Crisis causes sharp fall in Spanish household investments
The financial crisis has caused a strong decline in investment from households in Spain and a significant restructuring of portfolio assets, according to Julio Segura, president of the Comisión Nacional del Mercado de Valores (CNMV), Spain’s market regulator....
Henderson Property and Barclays Wealth strengthen Spanish teams
Henderson Global Investors has hired Javier Cuellar (pictured) as portfolio manager for its Spanish office, part of its £12.4bn property arm.
Spanish banks to make extra provisions for housing sector debts
Spanish banks will need to make extra provisions to cover their real estate and construction industry bad loans, according to local press reports.
Uncertainty remains over future aid to Spain's troubled banks
Investors and banks are anxiously waiting for Mariano Rajoy, Spain’s next prime minister, to clarify how he intends to resolve the country’s enduring banking crisis.
Funds Watch and product launches
News from: Pictet AM, Schroders, First State, Bloomberg, BBVA AM, BNY Mellon, SGSS and Banco Cooperativo
Fitch downgrades Portugal with negative outlook
Fitch Ratings has downgraded Portugal's long term foreign and local currency issuer ratings to 'BB+' from 'BBB-' and short-term rating to 'B' from 'F3' with a negative outlook.
BBVA launches a new management and advice service for clients
Spanish banking group BBVA has launched a new management and advisory service for its clients that combines remote access, personalized financial advice and virtual banking.
Spain elections results: Investors want actions, not promises
Spanish investors hope the incoming government will set to work quickly and announce what measures it will implement to help resolve the country’s economic and financial crisis.
Funds Watch and product launches
News from T. Rowe Price, HSBC Jintrust, Carlton group, State Street, Efama, JP Morgan AM
Spanish elections: Restoring confidence is key task for next government
The priority for the next government after this weekend’s general election in Spain will be to act quickly to restore investor confidence, according to Angel Martínez-Aldama, director general Inverco, the Spanish asset management and pension funds association....
Short-termism exacerbating financial crisis
Europe’s financial crisis has opened up opportunities in the equities and bond markets but these are undermined by growing short-term pressures from investors worried about the safety of their investments, according to Paulo Gonçalves, coordinator asset...
Banco de Valencia under pressure to speed-up restructuring plan
Troubled Spanish regional institution, Banco de Valencia, will need an injection of capital if it cannot raise sufficient funds to meet regulatory capital requirements.
Funds Watch and product launches
News from SEI, American Century, Heartwood, Hermes BPK, IMA, Morningstar, Fundsmith, Bramdean AM, SYZ AM and Lipper
Dolores Ybarra appointed Santander AM global chief investment officer
Santander Asset Management has appointed Dolores Ybarra as its global chief investment officer in a move designed to further strengthen the company’s global structure.
Emerging markets most likely to benefit under worse-case scenario
What do you do as a fund manager if your worst dreams come true and you are handling other people’s money? Jose Luis Jimenez, CEO of March Gestión, a Spanish family office, looks ahead and gives his appraisal of possible worse case scenarios.
Trading suspended in Spain's Banco de Valencia
The Spanish regulator, Comisión Nacional del Mercado de Valores (CNMV), has provisionally suspended trading in shares of Banco de Valencia, the troubled regional bank which is estimated to face a financial gap of €600m.
Crisis spurs competition in Spain's fund management industry
The summer’s financial turmoil has intensified competition across Spain’s asset management industry as companies fight for a share of a diminishing wealth market cake with both local and international asset managers under pressure.
Pioneer Investments new sales manager for Spain, Portugal
Pioneer Investments has appointed Teresa Molins as senior sales manager for Spain and Portugal in a move designed to strengthen its business in Iberia.
Independent financial advisers shake up fund management in Spain
It’s not quite a revolution but the arrival of independent financial advisers is shaking up old habits among Spanish investors and fund managers.
New EU capital rules will boost Spanish banks
Spanish banks will benefit from new capital requirements set by the European Banking Authority, said ECB executive board member Jose Manuel Gonzalez-Paramo.
Santander, BBVA, DWS among investors succumbing to lure of LatAm
As the crisis in Europe threatens global economic recovery, investors are looking at more attractive alternatives in emerging markets and turning their attention to Latin America.
Foreign managers hit by volatile Spanish summer
Foreign managers in Spain saw their assets under management decline by an estimated 6% in the third quarter to about €47bn, according to figures from Inverco, the Spanish asset management association, cited by the Funds People news service.
Banco Santander: no extra cash needed to meet EU demands
Banco Santander, the eurozone's biggest bank, said a significant charge for mis-selling payment protection insurance(PPI) hit profits in Q3, but its capital cushion would lift it out of danger territory.