October 2010

FRANCE: fund chiefs' plans for the future

french_flagBNP Paribas, AXA, Carmignac Gestion, Edmond de Rothschild, Oddo, Natixis and Rothschild & Cie, outline plans for the future, including for UK and MENA.

de-wijlder William De Vijlder,
BNP Paribas Investment Partners

An integral part of our strategy is to grow the business in Asia – it’s attractive from so many points of view, as compared to the developed markets.
Carrel_Billiard Dominique Carrel-Billiard,
Axa Investment Managers

The Middle East is a very important market because of the presence of the sovereign wealth funds, the emergence of new institutions and private banks. We manage assets for our Middle East clients but don’t have any investment management teams based in the region at the moment.
Helderle Eric Helderlé,
Carmignac Gestion

We are looking outside Europe, thanks to the demands we receive from prospects around the world. In fact we already registered our funds in Singapore to serve European clients willing to sell them from there. At the moment our priority is to consolidate our positions as foreign asset managers leaders in each of the major European markets. The UK market is clearly a key market we want to challenge next year before considering other steps to our future development.
Laurens Jean-Louis Laurens,
Rothschild & Cie Gestion

We could look to target the UK institutional market and are currently working on our consultant relationships there. The next institutional investors to tap into would be those in the Middle East and Asia, but first we’re looking to build an emerging markets capability. We’re currently recruiting and we’ll hopefully see product coming to market over the next 18 months to two years.
Guillaume_Poli Guillaume Poli,
Edmond de Rothschild Investment Managers

We’re expanding the remit of Edmond de Rothschild Investment Managers, which has, historically, worked primarily with institutional clients. The firm will now also provide solutions to other partner-distributors, including private banks and multi-managers and independent financial advisors. Clients outside of France are becoming more important. We distribute our funds in Spain, Italy, Belgium and Switzerland, where people realise that a product such as ours can give a better yield than a money market fund.
Tasle_Oddo Jean-Philippe Taslé d’Heliand,
Oddo Asset Management

Over a three-year horizon, we aim to become one of the big European specialist asset managers among institutional investors and distribution platforms across Europe. To do this we need products we don’t have today. We believe in alternatives and through the Banque d’Orsay merger we have capabilities that will allow us to put alternative products to market.
pierre_servant Pierre Servant,
Natixis Global Asset Management

Our parent bank is in a much better situation giving us more capacity to invest. For example, we want to strengthen our distribution in Asia and are looking actively for a partner in India for both manufacturing and distribution. We’re also looking to set up business development offices in the Nordics and the Netherlands.  We also want to develop a smart ETF capability with the help of an experienced team.