Japan’s Asset Management One has closed its Singapore operations, it said in a statement.
The asset manager manager, which is 70% owned by Mizuho Financial Group and 30% owned by Dai-ichi Life Holdings, has operated in Singapore since 2008. Its local unit had ¥1.9bn ($12m) in capital.
“AM-One reiterates that there will be no change to the importance of the Asian region in its business strategies or to its policies. AM-One remains committed to expanding its global operations and will continue to offer consistent and stable asset management services to its customers globally, leveraging the collective strengths of the AM-One Group,” it said in a statement.
