Posted inRest of APAC

Nikko AM to launch new products in Australia

Nikko Asset Management is planning to offer new products to institutional and retail clients through its local subsidiaries in Australia and New Zealand.

The new offerings will include multi-asset, global equity, and Asia (ex-Japan) equity vehicles and follows the firm’s recent announcement about forming a new global multi-asset team in Singapore.

The Tokyo-based asset manager meanwhile also said it is aligning the current Tyndall brand names in both Australia and New Zealand with the firm’s global name, Nikko Asset Management.

“We are one company and therefore should share one name globally,” said Takumi Shibata, president and chief executive officer of Nikko Asset Management.

Nikko AM acquired Tyndall Investments in 2010 from Suncorp Group.

The firm’s Australian operation has A$24bn ($23bn) in assets under management, representing approximately 14% of Nikko Asset Management’s total assets of $168bn as of June.

The company’s New Zealand operation, which is based in Auckland, is the only foreign asset management firm operating in the country. Its assets under management reached NZ$3.8bn ($3.3bn) as of June.

Part of the Mark Allen Group.