Coronavirus: European funds face historic withdrawals

Coronavirus: European funds face historic withdrawals

Investors withdrew nearly € 290 billion from European open funds in March, a historic record. The flight of investors combined with the fall in the markets represents a double penalty for the sector. An unprecedented hemorrhage. European open funds accused nearly 290 billion euros of outflow in March, a historic record, according to Morningstar data provided exclusively to “Echoes”. Active or passive funds, ESG or not, all recorded outflows, often massive, over the past month….

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Partech closes its third seed fund at $ 100 million

Partech closes its third seed fund at $ 100 million

The historical player in French venture capital will sell this new fund in young shoots responding to the uses of Generation Z, especially in health and finance. Slow down because of the coronavirus crisis, European venture capital is not running dry. It has 20 billion euros to invest in start-ups, according to a study by Dealroom.co. And the seed stage, that is to say investing in very young companies, is no exception. As proof, the…

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Christophe Mianné, wealth manager

Christophe Mianné, wealth manager

The former head of market activities at Société Générale is pursuing a second career in asset management. He recently joined Cyrus Conseil, an independent asset management player in France. Not even a pandemic can prevent it from embarking on its new challenge. Christophe Mianné had just two weeks to meet the Cyrus Conseil teams before having to confine himself to his house in Neuilly. Wealth management, of which Cyrus boasts of being the leading player…

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The giant Amundi has seen its outstandings melt with the coronavirus crisis

The giant Amundi has seen its outstandings melt with the coronavirus crisis

The European champion of asset management recorded an outflow limited to 3.2 billion euros in the first quarter thanks to the dynamism of its joint ventures in Asia. The fall of the markets, however, brought down its outstandings by more than 120 billion. The coronavirus pandemic has not called into question the dominance ofAmundi on asset management in Europe. The French champion of the sector, a subsidiary of Crédit Agricole, has withstood the tensions on…

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BlackRock’s largest shareholder withdraws

BlackRock’s largest shareholder withdraws

PNC Financial bank announced its intention to sell the 22.4% it had held in the world leader in asset management since 1995. It then paid $ 240 million for an investment valued today at 17 billion. It’s the end of an era at BlackRock. The world leader in asset management has announced that its main shareholder, PNC Financial, is selling its shares. The Philadelphia-based regional bank, the ninth-largest US bank in terms of assets, held…

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Management: costs in the sights of the market policeman

Management: costs in the sights of the market policeman

Feedbacks and integrated networks are in the sights of the European financial market regulator. A huge challenge for the sector, as individuals regularly pay twice as much as institutions in management fees. The distribution of savings products to individuals could experience a small revolution in the years to come. The European Securities and Markets Authority (Esma) has opened the door to a total ban on retrocommissions as part of the review of the European MiFID2…

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Climate: Exxon in the sights of its shareholders

Climate: Exxon in the sights of its shareholders

The American oil company is singled out by one of the big European asset managers for its lack of climate strategy. Several of its competitors have already made strong commitments. After Shell, BP, Equinor and Total, it is Exxon ‘s turn to come under pressure from its shareholders in the fight against global warming. One of them, the British Legal and General Investment Management (LGIM) – the second largest European asset manager behind the French…

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Why banks and insurers dominate the management market in Europe

Why banks and insurers dominate the management market in Europe

On both sides of the Atlantic, management leaders have different profiles: independent and focused on passive management in the United States, subsidiaries of large banking and insurance groups betting on active management in Europe. With the announcement of the sale of the 22% stake in PNC Financial to the capital of BlackRock, the largest asset manager in the world with nearly $ 6.5 trillion in assets, loses its largest shareholder and its last links with…

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H2O reduces its exposure to Lars Windhorst companies

H2O reduces its exposure to Lars Windhorst companies

The Natixis subsidiary’s investments in unlisted securities linked to controversial German financier Lars Windhorst sparked a wave of buybacks last summer. This sale comes as H2O is going through a difficult period after suffering record losses during the coronavirus crisis. H2O seems to want to turn the page Lars Windhorst. The London-based management company, a subsidiary of the French Natixis, will sell a large part of its unlisted bonds linked to the companies of the…

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Regulators fear another liquidity crisis in Europe

Regulators fear another liquidity crisis in Europe

The flight of investors at the start of the crisis put European funds, particularly corporate debt and real estate funds, under pressure. Regulators want to ensure that a new wave of withdrawals does not jeopardize the stability of the financial industry. The wind of panic that shook the financial markets in March had a major impact on asset management. Supervisors gathered within the European Systemic Risk Board (ESRB) are now worried about the impact of…

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