Candriam seeks to grow institutional business in Switzerland, Germany

first_imgNaïm Abou-Jaoude, chief executive at Candriam, told IPE the brand change was necessary, would reinvigorate the business and give it a positive momentum among clients and staff.He said now the transformation was complete, the business would focus on its third-party distribution and its institutional business – which accounts for around two-thirds of the manager’s assets.“With our new brand offering a fresh start, coupled with the stability of the management,” Abou-Jaoude said, “we can fully enhance the business, and in particular our relationships with the consultants, who are likely to be more open to having new discussions with us on what we can offer to their clients.”Candriam, within the next nine months, wants to grow institutional business in Switzerland and Germany while increasing third-party distribution exposure in the UK.Abou-Jaoude said institutional business in the UK was an ambition but would be more realistic in 18 months’ time.With regard to offerings, the chief executive said Candriam was looking to build on its previous products and provide more suitable solutions to institutional clients.“We want to go in two directions,” he said. “One is offering a flexible multi-asset fund, and a multi-asset income fund, which will capture the spreads from different asset class.“The second is short high-yield offering, using a combination of long-short strategies.”The firm is also working on equity products for its insurance clients that will utilise the benefits of derivatives, mitigating the downside of equity investing, and reducing the capital requirements under Solvency II.In terms of the asset manager’s new partnership with NYLIM, the firm said its expansion would not include the US, given its complementary offering to its parent’s other boutiques.“We cover some other products NYLIM does not have, so the idea is to complement the offering and see how we can develop synergies on both sides,” Abou-Jaoude said.Yie-Hsin Hung, co-president of NYLIM and chair of Candriam, told IPE the boutique owner would also continue its expansion after its foray in the European market with the Dexia acquisition.“We continue to want to grow our business,” she said.“Our aspiration would be to grow in areas we don’t have a presence today, but our immediate focus is that Candriam is successful and can leverage all the resources available from NYLIM.” Candriam, the new trading name for Dexia Asset Management, will look to expand its offering in three new territories following its rebrand and completed takeover by New York Life Investment Management (NYLIM).The manager, which was plagued by uncertainty for more than two years as it was subject to takeover talks, saw business deteriorate as clients awaited confirmation of the firm’s future.However, in December 2013, US-based NYLIM, the asset management arm of insurer New York Life, completed its rumoured takeover of the European manager, adding it to its multi-boutique operation.The following February, it was announced the firm would shed its Dexia brand, moving forward from the turmoil under the name Candriam.last_img read more

New Mini Hydraulic Excavator from Caterpillar

first_imgCaterpillar has just launched their new Cat 306 CR Mini Hydraulic Excavator, marking the company’s entry in the 6-ton class offering. According to Caterpillar, the 306 CR mini excavator is built to exceed customer expectations with strong performance, enhanced operator experience and simplified maintenance with extended service intervals.The new mini excavator features heavy-duty main structures, a fuel-efficient engine, load-sensing hydraulics, spacious cab and exclusive Cat Stick Steer system. It shares a similar controls layout and common components with the full line of Cat Next Generation mini excavators to simplify training, offer quick adaptation for operation and lower owning/operating costs.With its long stick option, the 306 CR delivers a maximum dig depth of 162 in (4 110 mm) and 15,821-lb (7 175-kg) maximum operating weight when equipped with the sealed and pressurized cab.Built with a swing boom, this Next Generation mini excavator’s compact radius design provides a low, 58-in (1 475-mm) tail swing with counterweight for working close to obstructions.last_img read more

Aero Race Wheels awards go to IMCA special events drivers, state champions

first_imgESTHERVILLE, Iowa – Special events competitors and state champions in five IMCA divisions earn awards again in 2014 courtesy of Aero Race Wheels. The Estherville, Iowa, manufacturer is in its 18th season as a marketing partner with IMCA and gives $40 product certificates, applicable toward the purchase of two wheels, to designated place finishers at 80 specials for IMCA Xtreme Motor Sports Modifieds, IMCA Sunoco Stock Cars, IMCA Sunoco Hobby Stocks, Karl Chevrolet Northern SportMods and Scoggin-Dickey Parts Center Southern SportMods. Allstar Performance state champions in the same divisions will receive $25 product certificates.Awards given to special events drivers will be mailed from the IMCA home office the week after results from those races are received. State champions get their awards during the national banquet in November or by mail in December. Aero also returns as sponsor of the popular feature win decal program for an eighth consecutive season. Those decals are to be given to drivers following sanctioned weekly or special events victories. Information about Aero-made wheels is available by calling 888 895-2376 and at the web­site. “Eighteen years of support ranks Aero Race Wheels right up there with our longest tenured partners and the relationship our racers have established with them during that time has been outstanding,” IMCA Marketing Director Kevin Yoder commented. “We’re proud to have their ongoing support and look forward to another great year.”last_img read more

#Donkomi: Swansea place £18m price tag on Ayew amid Spurs links

first_imgEnglish Championship side Swansea City have slapped an £18 million price tag on forward André Ayew to ward off any potential suitors in the January transfer window.The 30 year old leads the scoring for the Welsh side this season with 12 goals in all competitions – the latest being the winner against Wigan Athletic last weekend.The Black Stars captain’s future at the club has been the subject of intense speculation over the past couple of weeks, with Tottenham Hotspur and Leeds United among the leading candidates for his signature.With 18 months left on his Swansea contract, and being the club’s highest earner by some distance, murmurs around the club suggest that the hierarchy is split between the forward’s future, with a section wanting to cash in quickly before he runs out his contract.But it looks like Ayew would be staying put, at least till the end of the season, with the latest development.Ayew rejoined Swansea in January 2018 from West Ham, but spent last season on loan at Turkish side Fernerbahce, before returning to the Swans at the start of the season.last_img read more

Inside the Dodgers: Suddenly, ‘depth’ isn’t the Dodgers’ buzzword anymore

first_imgThen there’s the bullpen. For all their issues, the Dodgers have asked the same nine pitchers to make 94 percent of their relief appearances. Kenley Jansen, Joe Kelly and Yimi Garcia can’t be optioned to the minor leagues, so not every bullpen spot is flexible. Yet in spite of few injury issues, the Dodgers aren’t churning through relievers. The available in-house replacements (J.T. Chargois, Jaime Schultz, Brock Stewart, Dennis Santana, Josh Sborz, Adam McCreery) either haven’t pitched well enough at Triple-A to warrant a call-up, or the organization has preferred to keep them in their Triple-A rotation. Or both.Injuries haven’t been an issue on the position player side, either, because the Dodgers have done more than tread water in the absence of Corey Seager and A.J. Pollock (and, more briefly, Russell Martin and Austin Barnes). They have the National League’s best record by a six-game margin. Andrew Friedman can afford to look ahead to the postseason as he contemplates trade offers in the weeks to come.This newsletter isn’t about which relievers the Dodgers should try to acquire. It’s about how the deadline calculus changes for a roster carried not by its depth, but by its stars. Consider that 17 players finished last season with at least 1 WAR, and none with more than 4.5. You’d be challenged to find a pennant-winning team with more parity.The distribution of talent among the top 17 Dodgers this year looks very different. At the top is Cody Bellinger, who’s on pace for 13.5 WAR. Next is pitcher Hyun-Jin Ryu, on pace for 8.3. Checking in at number 17 is Russell Martin, who’s on pace for 0.9. That’s a big gap, but even this exercise in quantification doesn’t totally capture the difference between year’s club and last year’s. Baseball Reference’s version of WAR notoriously underestimates the value of catcher framing (FanGraphs, which incorporates framing into its WAR statistic, has Martin on pace for 1.6 WAR) and nobody’s version of WAR is the best way to value a pitcher (especially relievers). The smell test works better: If I told you in conversation that Cody Bellinger was your team’s best player in 2019 and Russell Martin is your team’s 17th-best player, you’d understand. That sounds like a pretty big gap, and it is.What does that mean on a practical level? We know the Dodgers could use more reliable relief pitching. That’s the first trade priority. The second priority isn’t as obvious, but maybe it should be. There’s a steep dropoff from the best player on the Dodgers’ 25-man roster to the worst, and their 40-man roster isn’t terribly impressive from 26 through 40. Bellinger and Hyun-Jin Ryu have been healthy to this point in the season – knock on wood – but if either were lost to injury, that six-game tower over the NL standings might topple. The Dodgers’ in-house depth simply isn’t what it was even a year ago. Friedman has spoken so often about the value of roster depth (here’s one such piece from April), one wonders how much of a priority he’ll place on upgrading those 26-through-40 spots before the deadline. I’m not even sure what that would look like. The Phillies just bought Brad Miller from the Yankees, who had the 29-year-old infielder parked at Triple-A. Miller’s .754 OPS is basically average, but that type of player can be useful for a playoff-bound team. Once their bullpen issue(s) are addressed, the Dodgers – who coincidentally released Miller in spring training – might be looking to stock up on Brad Millers.-J.P.Editor’s note: Thanks for reading the Monday June 17 edition of the Inside the Dodgers newsletter. To receive the newsletter in your inbox, sign up here.Dodgers links:Shut down – Dodgers drop another one-run game to Giants.Redemption song – Martin bounced back from an 0-for-3 start to deliver a Sunday win with his bat and his glove.Unsung hero – Dino Ebel’s decision to send Chris Taylor on a hit to shallow left field paid off.Best of the best – The Dodgers possess one of three elite-tier lineups in baseball, writes Jay Jaffe for ESPN.Let’s start a rumor – Jim Bowden of The Athletic suggests the Dodgers could line up with the Royals on a Whit Merrifield trade, but Royals GM Dayton Moore suggests it won’t be that easy.Trouble at home – For Venezuelan baseball players, political turmoil back home makes the 162-game season even more arduous.The old man and ‘the ocean’ – Max Muncy explained why he owes his career to his father, Lee.Daddy day – The videos of Clayton Kershaw’s and Kenley Jansen’s kids on the field at Dodger Stadium on Sunday are predictably adorable.Way to go – What does it look like when the players you trade away immediately get better, and the players you acquire immediately get worse? Ladies and gentlemen, your 2019 St. Louis Cardinals. Newsroom GuidelinesNews TipsContact UsReport an Errorcenter_img Editor’s note: This is the Monday June 17 edition of the Inside the Dodgers newsletter. To receive the newsletter in your inbox, sign up here.Wednesday marks six weeks until baseball’s trade deadline. It’s a hard deadline this year. There will be no August trades for players who clear waivers. While that makes for more drama, and fewer explanations required by baseball beat writers, it also accelerates the process for a general manager. There’s a reason we went straight from the amateur draft to trade talk – and, in the case of the Mariners and Yankees, an actual blockbuster trade over the weekend. There’s less time to make a deal than ever.With that in mind, I wanted to address a general observation about this year’s Dodgers team. I almost didn’t write about this because it’s so hard to quantify. (I tried anyway.) It’s the idea of “depth” as a buzzword for describing how the Dodgers are succeeding – something that was eminently true last year, and not as much this year.To be clear, the Dodgers have some depth. Will Smith came up from Triple-A and was completely capable in a six-game injury replacement cameo. Matt Beaty has been sub-replacement level by Wins Above Replacement, but there’s something to be said for a guy who has nine RBIs in his first 20 major league games. Ross Stripling and Julio Urías were so trustworthy as starting pitchers, one or both of them might hop into the rotation soon to give the Dodgers’ other starting pitchers a blow.last_img read more