Allianz Global Investors' head of retail - Northern Europe, Adam Gent, told thewealthnet of plans to launch additional share classes in some of its UK retail funds: “We are introducing an innovative, new performance-based fee model that aligns our pricing with the value we generate for our clients as an active asset manager. From early next year, we will launch additional share classes in a selection of our UK retail funds that will give clients the opportunity to only pay an active fund fee for delivered outperformance. We are debuting this new approach in the US, and will reveal more detail on our plans for the UK retail market soon.”
Architas promoted head of UK proposition Sarah Ackland to head of Architas UK funds, replacing Cedric Bucher who is leaving to take up a role in the institutional pensions sector. In her new role, Ms Ackland will take responsibility for all commercial aspects of the UK business including distribution, marketing, proposition and business development. She has been at Architas since 2014, and prior to this, served as a sales director at Thames River and then F&C after its acquisition. Reporting to Ms Ackland, Frank Potaczek has been appointed as her replacement as head of UK proposition, and will oversee the existing fund ranges offered by the company in the UK as well as the development of discretionary management services, and manage future product and proposition strategy. He joins from Defaqto where he was a senior vice president responsible for its fund and DFM products and its fund ratings service. He previously held roles at Close Brothers Asset Management, Threadneedle Investments and F&C Asset Management.
According to the latest Investment Funds Industry Fact Sheet from The European Fund and Asset Management Association (EFAMA), which provides net sales of UCITS and AIF for June 2017, net inflows into UCITS and AIF totalled EUR 65 billion compared with EUR 95 billion in May 2017. UCITS registered net inflows of EUR 34 billion down from EUR 62 billion in May 2017. Long-term UCITS recorded net sales of EUR 66 billion compared to EUR 62 billion in May, while net sales of equity funds totalled EUR nine billion (May: EUR 13 billion); net sales of bond funds totalled EUR 36 billion (May: EUR 30 billion); and net sales of multi-asset funds totalled EUR 19 billion (May: EUR 17 billion). Meanwhile AIF recorded net sales of EUR 32 billion compared to the EUR 33 billion recorded in May. Total net assets of UCITS and AIFs totalled EUR 14,964 billion at end June, compared to EUR 15,067 billion at end May and EUR 14,141 billion at end 2016.
Mirabaud Asset Management has repositioned its existing UK Equity High Income Fund into a High Alpha Strategy from 1 October 2017, having managed the UK High Alpha Strategy for institutional clients for 13 years. The fund is to be managed by Jeremy Hewlett, who is in the UK Equity Team headed by David Kneale. The Mirabaud – Equities UK High Alpha fund will be an unconstrained, actively managed, high conviction, concentrated portfolio of best ideas. The team look for ‘quality businesses’ with ‘strong barriers to entry’ which are cash flow generative over multiple years.
Santander Asset Management appointed Cipriano Sancho to its manager research and fund selection team headed by José María Martínez-Sanju. Mr Sancho, who will be based in Madrid, will work with Angel Lara as an absolute return and alternative strategies analyst. He previously worked at BBVA Asset Management Quality Funds where he was head of quantitative analysis processes from 2013, and specialised in absolute return funds. Mr Sancho also held different positions at BBVA Asset Management, and worked at Inversis Banco and Allfunds Bank, with a total professional experience of 18 years. Santander Asset Management has recently added another three recruits to this team, including Angel Lara in July 2016 and Wee-Tsen Lee and Pryesh Emrith to its London selection office in May 2016. The team now comprises nine people, with five based in London and four in Madrid.