Natixis Says Oui Oui to an ETF Deal Across the Sea
Reported by Hung Tran
Natixis Global Asset Management [see profile] has acquired a majority stake in Ossiam, a Paris-based asset management start-up specializing in exchange traded funds.
Ossiam will be the first ETF start-up in Europe focused on providing a diverse range of specialty ETFs based on quantitative and fundamental data. The compnay's four directors, including CEO Bruno Poulin, previously deputy CIO and head of quantitative research at Systeia Capital Management, and Deputy CEO Antoine Moreau, formerly global head of fund derivatives and exotic equity derivatives trading at Calyon, will retain partial ownership.
Ossiam plans to launch its first ETFs in early 2011 in Europe and make these products available to investors either through French funds, a Luxembourg SICAV structure or via dedicated funds tracking customized indices tailored for specific institutional client needs.
Natixis Global Asset Management Acquires Majority Stake in OSSIAM, a Specialty ETF Start-up
PARIS, Oct 26, 2010 (BUSINESS WIRE) -- Natixis Global Asset Management (NGAM) has acquired a majority stake in Ossiam, an asset management start-up, which will specialize in exchange traded funds (ETFs), once the relevant agreement is obtained from the Autorite des Marches Financiers (AMF).
Based in Paris, Ossiam will be the first ETF start-up in Europe focused on providing a diverse range of specialty ETFs based on quantitative and fundamental data. Ossiam's four directors, including CEO Bruno Poulin, previously deputy CIO and head of quantitative research at Systeia Capital Management, and Deputy CEO Antoine Moreau, formerly global head of fund derivatives and exotic equity derivatives trading at Calyon, will retain partial ownership.
Ossiam plans to launch its first ETFs in early 2011 in Europe. These products will be available to clients either through French funds, a Luxembourg SICAV structure or via dedicated funds tracking customized indices tailored for specific institutional client needs. Moreover, Ossiam is currently fine-tuning its set-up in order to meet the latest AMF requirements. The appropriate set-up in the U.S. will be determined in the nearer future.
"In Europe, the ETF market is rapidly growing; even if it is still lagging behind the U.S. market, the gap is decreasing. We aim at developing specialty ETFs as intelligent solutions for clients rather than plain-vanilla products that replicate market-cap weighted indices. NGAM's investment in Ossiam recognizes the importance of specialty ETFs as an additional source of diversification for our clients. It is also a significant diversification of NGAM's successful multi-boutique structure," commented Pierre Servant, CEO of Natixis Global Asset Management.
"Ossiam's team, led by Bruno Poulin and Antoine Moreau, is highly experienced and brings hedge fund and capital market experience to mainstream asset management," according to Mr. Servant.
"We are delighted to be backed by a company with the scale of NGAM, one of the largest asset managers in the world, and to be supported by their global distribution network," said Bruno Poulin, CEO of Ossiam. "We have ambitious growth plans for the company both in terms of market reach and range of products and we believe our partnership with NGAM will allow us to achieve those plans."
"Ossiam aims to provide smart and innovative ETFs at fair prices across a broad range of asset classes. Ossiam will offer their clients long-term investment solutions and tailored products for specific issues."
Established in 2009 and headquartered in Paris, Ossiam intends to be the first ETF company in Europe focused on providing a diverse range of specialty ETFs. Principals include Bruno Poulin and Antoine Moreau who have extensive experience in fund management, trading and quantitative research.
About Natixis Global Asset Management
Natixis Global Asset Management is one of the 15 largest asset managers in the world(1) based on assets under management. Its affiliated asset management companies provide investment products that seek to enhance and protect the wealth and retirement assets of both institutional and individual investor clients. Its proprietary distribution network helps package and deliver its affiliates' products around the world. Natixis Global Asset Management brings together the expertise of multiple specialized investment managers based in Europe, the United States and Asia to offer a wide spectrum of equity, fixed-income and alternative investment strategies.
Headquartered in Paris and Boston, Natixis Global Asset Management's assets under management totaled $651 billion (EUR532 billion) as of 30 June 2010. Natixis Global Asset Management is part of Natixis. Its affiliated investment management firms and distribution and service groups include: Absolute Asia Asset Management; AEW Capital Management; AlphaSimplex Group; Aurora Investment Management; Capital Growth Management; Caspian Capital Management; Gateway Investment Advisers; Hansberger Global Investors; Harris Associates; Loomis, Sayles & Company; Natixis Global Associates; Reich & Tang Asset Management; Snyder Capital Management; Vaughan Nelson Investment Management; and Westpeak Global Advisors. In addition to the U.S. firms, Natixis Global Asset Management includes three principal affiliates based in Paris: AEW Europe, Natixis Asset Management and Natixis Multimanager.
Natixis is the corporate, investment and financial services arm of BPCE, the second-largest banking group in France with 22% of total bank deposits and 37 million clients spread over two networks, Banques Populaires and Caisses d'Epargne.
With around 22,000 employees, Natixis has a number of areas of expertise which are organized in three main business lines: Corporate and Investment Banking, Investment Solutions (asset management, private banking, insurance) and Specialized Financial Services. A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of BPCE's two retail banking networks.
Listed on the Paris stock exchange, it has a solid financial base with total Tier 1 capital of EUR12.8 billion, a Tier 1 ratio of 9.2% and quality long-term ratings (standard & poor's and fitch ratings:A+)(moody's:Aa3).
(1) Cerulli Quantitative Update: Global Markets 2010, based on 31 December 2009 AUM of $724 billion.
NATIXIS GLOBAL ASSET MANAGEMENT -- BOSTON
Faith Yando, +1 617-449-2507
OSSIAM -- LONDON
Matt Battersby, +44 207 9735947
NATIXIS GLOBAL ASSET MANAGEMENT -- LONDON
Nicole Wesch, +44 203 405 2179