Asset management roundup: Oddo & Cie, Kleinwort Benson, Fosun, Robeco, Lyxor, Och-Ziff

first_imgThe counter-bid follows the announcement on 24 July by Eastgate Billion (Luxembourg), a wholly owned unit of Bosun International, to make a takeover bid at €5.10 per share.The takeover target said its board would make a formal response to the counter-bid once the final prospectus was available.Oddo & Cie said it intended to expand in the euro-zone, and had decided not to keep its private banking activities in the UK and Channel Islands.In other news, Rotterdam-based Robeco is opening its London office today in a move it described as the next stage of its work with clients in the UK.Hester Borrie, head of global distribution and marketing and Robeco group management board member, said: “Building on our track record with clients in the UK, we are ready to be going to the next stage.”Borrie said London was a key hub for the institutional and wholesale investment business globally.Robeco has already announced the appointment of Mark Barry as head of UK and institutional business for Robeco UK.The company said its Global Financial Institutions team, led by Nick Shaw, and Global Consultant Relations team, headed by Peter Walsh, would also be run out of the London office. These teams are now supported by six full-time staff, and this number is set to rise to 20 within the next two years.Robeco said it now had around £5bn (€7bn) in assets under management from UK client mandates, as of the end of September 2015.Lastly, Lyxor Asset Management and Och-Ziff Capital Management are launching an investment fund on Lyxor’s Alternative UCITS Platform.The fund – the Lyxor/OZ US Equity Opportunities Fund – will concentrate on long and short investment opportunities in the US equity market, aiming for positive, absolute returns with low volatility.The investment strategy will combine long-term fundamental views with “process-oriented expertise in corporate actions/events”, Lyxor said.The fund will aim to take advantage of mispricings in situations involving various types of corporate actions, including mergers, spin-offs, management changes and recapitalisations.Lyxor said it was continuing to diversify its UCITS platform and that Och-Ziff would now be the eighth alternative manager on it. French asset manager Oddo & Cie has launched a rival offer worth €760m for fund manager BHF Kleinwort Benson, beating the offer made in July by China’s Fosun International.BHF Kleinwort Benson said it welcomed the higher bid by the French firm, which already holds 21.6% of the Brussels-listed company.Oddo & Cie said it intended to launch a voluntary and conditional public takeover offer in cash, for all the shares it does not already hold, offering a price of €5.75 per share.BHF Kleinwort Benson said it had already agreed sales with certain shareholders, giving it the certainty of holding more than 50% of the company’s shares.last_img read more

Brendan Rodgers wants Liverpool to take more risks but loses Jordan Henderson

first_img The Reds have netted only three times in their opening five Barclays Premier League games this season but will be hoping for a considerable boost to the tally on Sunday when they host Norwich, against whom they have notched 21 goals in their past five meetings. And even with a fresh injury blow for club captain Jordan Henderson, who faces a further eight weeks out of action, Rodgers is hopeful his side can respond in the desired fashion. Lallana himself was returning to action on Thursday after a month sidelined by a thigh problem, and Rodgers afterwards hailed the midfielder’s “outstanding” goal, adding: “It was his touch and creativity which we have not seen so much of this season.” And as he looked ahead to the Norwich game, Rodgers said of Lallana: “I think when he’s played he has been excellent and if he plays consistently over a period of time, Adam will reach the numbers that we would like from him – I think it is only injuries that have curbed that so far. “His goal on Thursday will be great for his confidence. He has not been training that long, so to come through 90 minutes of a game at that level and score the goal he did shows he has got his eye back in very early and he will be looking to push on now.” Liverpool also have key playmaker Philippe Coutinho available again after he missed the United defeat due to a one-match suspension. Defender Kolo Toure is being assessed having sustained a dead leg in the Bordeaux contest. Liverpool boss Brendan Rodgers wants to see his side taking more risks in attack as they bid to remedy their goalscoring problem. Press Association And Rodgers said ahead of the contest at Anfield: “It is about risk-taking. “I think, for some reason, that wee bit of risk has gone out of our game. “We need to ensure we take those risks in order to create in the game and bring that intensity to it. “The players have been working really hard at that over the last week or so and it only takes that one performance to spin the season around again.” Liverpool – with seven points so far, the same as newly-promoted Norwich – go into Sunday’s match having lost their previous two league games, 3-0 to West Ham and then 3-1 at Manchester United. In terms of risk-taking, Rodgers may well be thinking of the kind of individual moments of daring that saw Christian Benteke score acrobatically at Old Trafford – or Adam Lallana nutmeg an opponent before slotting in during Thursday’s 1-1 Europa League draw at Bordeaux. Rodgers has expressed his confidence about things improving for the Reds as various personnel become available again, with Daniel Sturridge and Joe Allen in contention to make their comebacks from injury on Sunday. Henderson, though, has broken a bone in his right foot in training on Friday – just as he was due to return from a heel problem. last_img read more