In case you missed it (18 October 2019)

Latest News

Ostrum names new CEO; BNPP AM in India to merge with Baroda AM; Value Partners targets Korean investors; Bea Union launches another FMP; Morningstar expects fund downgrades to outnumber upgrades; and more…

FROM THE PRESS RELEASE DESK THIS WEEK…

 

People moves

Ostrum Asset Management, a Natixis Investment Managers affiliate, has appointed Philippe Setbon as its new CEO. Setbon will replace Matthieu Duncan, who has resigned from his role in order to pursue other interests. Before Ostrum, Setbon was CEO at Groupama Asset Management. He also currently serves as vice president of the French Asset Management Association. Separately, Natixis IM has also appointed Joseph Pinto to fill the newly-created role of chief operating officer. Pinto, who was previously the COO at Axa Investment Managers, will report to Jean Raby, Natixis IM’s CEO…

T Rowe Price has appointed Cassandra Crowe as head of consultants for Australia and New Zealand. Based in Sydney, Crowe will work closely with the firm’s business development and investment teams to enhance engagement with consultants, researchers, platforms and advocacy groups that underpin the retail and institutional markets of Australia and New Zealand. She will report to Nick Slater, London-based head of Emea and Apac consultant relations. Before T Rowe, Crowe was head of consultants and research at Allianz Retire+, which is powered by Pimco. Allianz Retire+, which provides retirement products in Australia, combines Allianz’ insurance capabilities with Pimco’s investment expertise…

Business moves

Mumbai-headquartered Baroda Asset Management, a wholly-owned subsidiary of Bank of Baroda, and BNP Paribas Asset Management in India have agreed to merge to form a joint venture firm in India, subject to regulatory approval. Both firms expect that the joint venture will leverage on each other’s capabilities to offer products to retail and institutional clients. The joint venture will combine BNP Paribas AM’s offshore investment capability and Bank of Baroda’s local distribution network, which includes 9,500 branches in the country…

Value Partners has targeted investors in Korea for the first time, according to local media reports. After four years of talks, the firm has teamed up with Seoul-based Hanwha Asset Management, which will be raising funds from Korean retail investors to invest in Value Partners’ High Dividend Stocks Fund. In a separate media report, Hanwha AM has also received licences in Singapore to offer products to the Lion City’s retail investors…

Hong Kong-based Bea Union Investment has launched its second retail fixed maturity product (FMP) this year in Hong Kong – the Asian Corporate Target Maturity Fund 2023. The product aims to provide investors with regular monthly income during its tenure over the course of around 3.5 years and to return capital at maturity. It launched its first retail FMP in January – the Asian Bond Target Maturity Fund 2022. Also this week, Invesco launched its third retail FMP in Hong Kong

Singapore-based global private markets platform Capbridge has received approval from the Lion City’s regulator to extend its activities beyond accredited and institutional investors to the retail base. Retail investors in Singapore simply need to meet suitability requirements by clearing a financial knowledge and experience checklist or a suitability assessment, as well as declare their net assets and financial assets prior to investing. Retail investors can now participate in the firm’s private markets platform to invest in late-stage growth and pre-IPO deals…

Fund ratings

Morningstar expects that the percentage of active funds that it rates as Gold, Silver or Bronze (positive ratings) will fall after it implements its revised Morningstar Analyst Rating for funds on 31 October. On the flipside, the percentage of index funds earning positive ratings would rise. In total, roughly one-third of funds would see a rating change, with downgrades outnumbering upgrades…

 

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