News Article | October 3, 2017
Paris, Sydney, Boston, 3 October 2017
Natixis expands its Asset Management presence in APAC with the acquisition of a majority stake in Investors Mutual Limited in Australia
Natixis today announced the signing of definitive agreements to acquire a majority ownership stake (51.9%) in Investors Mutual Limited (IML) in Australia, which becomes a new affiliate of Natixis Global Asset Management.
With IML, a well-established asset manager with AuM of AU$9.1bn (€6.1bn), Natixis Global Asset Management will achieve its first major acquisition in Australia and increase its exposure to the local retail market and the Australian superannuation industry. In addition, with IML, Natixis Global Asset Management is reinforcing its distribution platform in Australia, following the establishment of an office in Sydney in 2015. This marks an important step in Natixis Global Asset Management's ambition to expand its presence in Australia and APAC as a whole.
Under the terms of the acquisition, Natixis Global Asset Management will acquire all the shares in IML held by Pacific Current Group Limited (ASX: PAC), along with a portion of the shares in IML held by IML founder Anton Tagliaferro, for up to AU$155m (€103m) in cash. This will give Natixis Global Asset Management an equity stake of 51.9% in IML. The transaction is expected to close in October 2017. The acquisition will be financed out of Natixis' own funds. The estimated impact for Natixis CET1 ratio is around -15 bps (4Q17).
IML is a well-respected, successful Australian equities value manager created in 1998. It has a long-term, conservative, quality and value based investment style.
IML's management team will remain shareholders in the business alongside Natixis Global Asset Management.
IML Investment Director, Anton Tagliaferro, will continue to run the business, supported by Head of Research Hugh Giddy and other senior leaders. The management team continues to be committed to the business through its significant equity interest in IML.
Under Natixis Global Asset Management's multi-affiliate strategy, IML will retain its autonomy, investment philosophy and culture, as well as benefit from the support and stability of a global group that specializes in asset management and which has a track record of successful ownership and development of investment management companies around the world. There will be no changes to the way in which IML is run day-to-day, nor to its management.
"We have previously stated that it is our intention to pursue new growth in the Asia Pacific market, and this marks the first acquisition as part of those plans. IML has a strong track record as one of Australia's most consistently-performing fund managers, and its commitment to investors and reputation in the market will make a significant contribution to the Natixis Global Asset Management multi-affiliate model," said Jean Raby, member of Natixis Senior Management Committee and CEO of Natixis Global Asset Management.
"The Australian wealth management industry in particular is highly sophisticated, and IML's views on portfolio construction and risk management align with Natixis Global Asset Management's Durable Portfolio Construction approach. Moreover, IML shares our core values of consistency, transparency and always putting clients first," said Fabrice Chemouny, Head of APAC at Natixis Global Asset Management.
"We welcome Natixis Global Asset Management, one of the world's leading asset managers, as a supportive, long-term shareholder and business partner, and we look forward to providing Natixis Global Asset Management with expertise in Australian equities," said Anton Tagliaferro, Investment Director at IML.
Natixis Global Asset Management currently has over 20 affiliates, each of which concentrates on the investment styles and disciplines in which they have proven expertise. The multi-affiliate structure is built on a belief in the power of independent thinking, and purposefully maintains the autonomy, investment philosophy and culture of the firms it acquires.
IML is a specialist Australian Equities Fund Manager, established in 1998. IML is well recognised for its true-to-label investment style that has been successfully applied since inception with the aim of delivering consistent returns for clients.
For further information, go www.iml.com.au
Natixis is the international corporate, asset management, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France with 31.2 million clients spread over two retail banking networks, Banque Populaire and Caisse d'Epargne.
With more than 16,000 employees, Natixis has a number of areas of expertise that are organized into three main business lines: Corporate & Investment Banking, Investment Solutions & 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 Groupe BPCE's banking networks.
Listed on the Paris stock exchange, it has a solid financial base with a CET1 capital under Basel 3(1) of €12.8 billion, a Basel 3 CET1 Ratio (1) of 11.3 % and quality long-term ratings (Standard & Poor's: A / Moody's: A2 / Fitch Ratings: A).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in except for DTAs on tax-loss carryforwards following ECB regulation 2016/445.
Figures as at June 30, 2017
About Natixis Global Asset Management
Natixis Global Asset Management serves thoughtful investment professionals worldwide with more insightful ways to invest. Through our Durable Portfolio Construction® approach, we focus on risk to help them construct more strategic portfolios that seek to endure today's unpredictable markets. We draw from deep investor and industry insights and partner closely with our clients to put objective data behind the discussion.
Natixis Global Asset Management is ranked among the world's largest asset management firms.1 Uniting over 20 specialized investment managers globally ($951.7 billion AUM2), we bring a diverse range of solutions to every strategic opportunity. From insight to action, Natixis Global Asset Management helps our clients better serve their own with more durable portfolios.
Headquartered in Paris and Boston, Natixis Global Asset Management, S.A. is part of Natixis. Listed on the Paris Stock Exchange, Natixis is a subsidiary of BPCE, the second-largest banking group in France. Natixis Global Asset Management, S.A.'s affiliated investment management firms and distribution and service groups include Active Index Advisors®;3 AEW Capital Management; AEW Europe; AlphaSimplex Group; Darius Capital Partners; DNCA Investments;4 Dorval Asset Management;5 Emerise;6 Gateway Investment Advisers; H2O Asset Management;5 Harris Associates; Loomis, Sayles & Company; Managed Portfolio Advisors®;3 McDonnell Investment Management; Mirova;7 Natixis Asset Management; Ossiam; Seeyond;9 Vaughan Nelson Investment Management; Vega Investment Managers; and Natixis Global Asset Management Private Equity, which includes Seventure Partners, Naxicap Partners, Alliance Entreprendre, Euro Private Equity, Caspian Private Equity and Eagle Asia Partners. Not all offerings available in all jurisdictions. For additional information, please visit the company's website at ngam.natixis.com
Petitgas P.,French Research Institute for Exploitation of the Sea |
Secor D.H.,UMCES |
McQuinn I.,iML Inc |
Huse G.,IMR |
Lo N.,National Oceanic and Atmospheric Administration
ICES Journal of Marine Science | Year: 2010
Experience has established that the recovery of many collapsed stocks takes much longer than predicted by traditional fishery population models. We put forward the hypothesis that stock collapse is associated with disruption of the biological mechanisms that sustain life-cycle closure of intrapopulation contingents. Based on a review of case studies of nine marine fish stocks, we argue that stock collapses not only involve biomass loss, but also the loss of structural elements related to life-cycle diversity (contingents), as well as the breakdown of socially transmitted traditions (through a curtailed age range). Behavioural mechanisms associated with these structural elements could facilitate recovery of depleted populations. Migratory behaviour is argued to relate to phenotypic plasticity and the persistence of migration routes to social interactions. The case studies represent collapsed or depleted populations that recovered after a relatively short period (striped bass, capelin), after more than a decade (herring and sardine), or not at all (anchovy, cod). Contrasting the population dynamics from these stocks leads us to make a distinction between a depleted and a collapsed population, where, in addition to biomass depletion, the latter includes damage to contingent structure or space-use pattern. We also propose a mechanism to explain how lost habitats are recolonized. © 2010 International Council for the Exploration of the Sea. Published by Oxford Journals. All rights reserved.
Lopez Calvo A.M.,iML Inc
Cuadernos de Medicina Forense | Year: 2011
One of the most difficult tasks in forensic pathology is deciding the origin and the cause of death after the autopsy when those issues are unclear or debatable. A technically perfect autopsy is a necessary but not a sufficient condition to adequately fulfil this decision. The present paper clearly defines the concepts of cause and mechanism of death, natural and violent death. We review many aspects related to the diagnosis of the origin and cause of death, especially the current approach of the value of autopsy in the diagnosis, the interaction between trauma and disease, the doctrine of causation, the use of ICD- 10, the so-called manner of death, the psychological autopsy, the negative autopsy and the origin of death from therapeutic complication, and so on., all of which are illustrated with relevant examples. We also discuss the limited role of the forensic pathologist in Spain in determining the so-called manner of death. The conclusions include(s) a list of recommendations for the best performance of this work, including the abandonment of the so-called unacceptable causes of death -as cardiac arrest, cardiopulmonary arrest or brain death, and so onand whenever possible the adoption of the classification of ICD-10 and the standard paragraph in which the cause of death is informed (part I and II), as proposed by the WHO international certificate of death. These conclusions intend to be a brief guide to provide a fair judicial outcome and enhance the forensic pathologist's credibility.
Fernandez D.S.,Servicio Geologico Minero Argentino Delegacion Tucuman |
Fernandez D.S.,iML Inc |
Lutz M.A.,Servicio Geologico Minero Argentino Delegacion Tucuman
Engineering Geology | Year: 2010
Recently, the cities of Yerba Buena and Tucuman in Tucumán Province, Argentina, have been affected by several storm flood events, causing hundreds of people to be evacuated from their homes. Heavy intensity rainfall, new housing developments covering previously permeable grounds, and old drainage systems are the main causes for this situation. This paper presents a simple approach of urban flood hazard assessment in a region where primary data are scarce. The objectives of this study are to develop a GIS-aided urban flood hazard zoning of the two cities applying multicriteria decision analysis and to evaluate it by means of uncertainty and sensitivity analysis. The research methodology focused on the analysis of those variables that control the water routing when high peak flows exceed the drainage-system capacity. The model incorporates five parameters: distance to the drainage channels, topography (heights and slopes), ground water table depths, and urban land use. A final hazard map for each category is obtained using an algorithm that combines factors in weighted linear combinations. The urban flood hazard map shows that the southeast part of San Miguel de Tucumán has the highest flood hazard over an extended area as a consequence of the conjunction of lowlands with slopes under 0.6% and the presence of urban stream channels with poor maintenance plan. In this area, several neighbourhoods have been flooded. The model was evaluated by the error propagation method and global sensitivity analysis to assess the uncertainty and the relative importance of model input factors. Finally, the influence of criterion weights are analyzed ranging from 25% to 75% of their original values showing a robust behaviour. © 2009 Elsevier B.V. All rights reserved.
Naldi A.,French Institute of Health and Medical Research |
Remy E.,iML Inc |
Thieffry D.,French Institute of Health and Medical Research |
Thieffry D.,French Institute for Research in Computer Science and Automation |
And 2 more authors.
Theoretical Computer Science | Year: 2011
To cope with the increasing complexity of regulatory networks, we define a reduction method for multi-valued logical models. Starting with a detailed model, we use decision diagrams to compute reduced models by iteratively "removing" regulatory components. To keep a consistent dynamical behaviour, the logical rules associated with the targets of each removed node are actualised to account for the (indirect) effects of its regulators. This construction of reduced models preserves crucial dynamical properties of the original model, including stable states and more complex attractors. In this respect, the relationship between the attractor configuration of the original model and those of reduced models is formally established. We further analyse the issue of attractor reachability. Finally, we illustrate the flexibility and efficiency of the proposed reduction method by its application to a multi-valued model of the fly segment polarity network, which is involved in the control of segmentation during early embryogenesis. © 2011 Elsevier B.V. All rights reserved.
iML Inc | Date: 2011-05-07
Manually operated drilling instruments and drills for testing construction materials, stone, concrete, wood, wooden materials and products made of wood. apparatus and instruments for testing materials, namely. manual and electronic analyzers and manual and electronic testing instruments for testing of construction materials, stone, concrete, wood, wooden materials and products made of wood; pulse time delay measuring apparatus and pulse time delay testing apparatus for testing construction materials, stone, concrete, wood, wooden materials and products made of wood; pulse time delay measuring apparatus and pulse time delay testing apparatus comprising a drill. training services in the field of testing of materials in the fields of agriculture and forestry, namely, drill resistance measurements on construction materials, stone, concrete, wood, wooden materials and products made of wood, pulse time delay measurements on construction materials, stone, concrete, wood, wooden materials and products made of wood and combined drill resistance and pulse time delay measurements on construction materials, stone, concrete, wood, wooden materials and products made of wood; training services in the field of training personnel to analyze and validate test results obtained by drill resistance measurements on construction materials, stone, concrete, wood, wooden materials and products made of wood, pulse time delay measurements on construction materials, stone, concrete, wood, wooden materials and products made of wood and combined drill resistance and pulse time delay measurements on construction materials, stone, concrete, wood, wooden materials and products made of wood. services in the fields of agriculture and forestry, namely, testing construction materials, stone, concrete, wood, wooden materials and products made of wood by taking drill resistance measurements, pulse time delay measurements and combined drill resistance and pulse time delay measurements.
iML Inc | Date: 2014-11-18
Computer chips; Circuit boards; Integrated Circuits; Semiconductors; Electrical circuits, namely Electrical Circuit Boards; Power Converter Circuits; Semiconductor chips; Semiconductor Devices; Microprocessor Chips; Wafers, namely Silicon Wafers; Structured Semiconductor Wafers.
iML Inc | Date: 2015-03-18
An LED lighting device includes multiple luminescent devices driven by a rectified AC voltage. The multiple luminescent devices are turned on flexibly in a multi-stage driving scheme using multiple current controllers. The current settings of the two driving stages with the highest current level and the second highest current level are adjusted according to the variation in the rectified AC voltage V_(AC )or according to the variation in the duty cycle of the luminance device due to the variation in the rectified AC voltage. The present invention can improve the line/load regulation of the LED lighting device when the rectified AC voltage somehow fluctuates between its upper bound and lower bound.
iML Inc | Date: 2012-11-06
Manually operated drilling instruments and drills for testing constructing materials, stone, concrete, wood, wooden materials and products made of wood, said manually operated drilling instruments and drills included in this class. Apparatus and instruments for testing materials, namely, stone, concrete, wood, wooden materials and products made of wood, analyzer, namely, density and hardness analyzer and hardness or resistance testing instruments. Providing of training in the fields of agriculture and forestry, namely, training of personnel to perform testing of materials, in particular testing of construction materials, stone, concrete, wood, wooden materials and products made of wood, the afore-mentioned testing of materials including drill resistance measurements, pulse time delay measurements and performing combined drill resistance and pulse time delay measurement; training persons to analyze and validate test results obtained by the afore mentioned measurements. Testing of materials in the fields of agriculture and forestry, namely, testing of materials, in particular testing of construction materials, stone, concrete, wood, wooden materials and products made of wood, by carrying out drill resistance measurements, pulse time delay measurements and by performing combined drill resistance and pulse time delay measurements.