Nomura Asset Management is set to launch a Japanese small-cap offshore fund. Domiciled in Luxemb...
Nomura Asset Management is set to launch a Japanese small-cap offshore fund.
Domiciled in Luxembourg, the fund will be added to the group's existing umbrella of Japan, Asia Pacific and Asia ex-Japan portfolios and will focus primarily on small-cap equities.
The group is a value-focused manager and will look at companies trading below their historic value. It uses a quantitative method of research and employs 23 analysts based in Japan.
Mark Roxburgh, head of marketing and client services at Nomura Asset Management, said: 'The new fund will be a natural addition to our product range. We believe a number of asset managers who already have large-cap equities in-house may want exposure to a Japanese small-cap fund. Here we can offer these companies our services.'
The fund is expected to be launched in the fourth quarter. Details regarding fund manager, minimum investment and fees are yet to be finalised. However, there will be both an institutional and a retail share class.
The fund will follow the registration of the Luxembourg-based Nomura Global Fund range with the Spanish stock exchange, the Comision Nacional del Mercado de Valore (CNMV).
As well as selling its Luxembourg range of funds in Spain, the group will also look for opportunities to act as a sub-adviser to asset managers in the country. It plans to take advantage of the Spanish pension reforms, which mean all pension funds must be outsourced to external asset managers before November 2002.
Roxburgh expects the group's fund range to be outsourced to asset managers in Spain. Distribution will be through banks as well other sources, such as fund supermarkets.
The Nomura Asset Management Group manages more than $168bn of assets globally and employs some 778 staff worldwide, including approximately 200 portfolio managers and analysts.
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