Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Japan Post to Sell Mutual Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 21, 2005

Japan Post to Sell Mutual Funds

by: Theresa Sim

A $2 trillion market in Japan is about to swing wide open.

The Japan Post, the country's state-run postal and insurance organization, is on the verge of offering mutual funds through its post offices, reports the Wall Street Journal.

Starting in October, the Post will initially offer three types of mutual funds to from 575 post offices across the country, upping that number to 1,500 offices within four years. The funds will be sold through the regular post office staff, who are being specially trained to handle sales of the funds.

Initially, the plans are to offer three funds -- two domestic index funds and one global fund with a mix of stocks, bonds and real estate trusts from both domestic and abroad.

The Journal reports that competition is hot and heavy for the international slot. So far, the Post has received 28 applications, and will probably accept more until its deadline next Thursday. The application process for the domestic index funds is already over.

Some of the speculated contenders include Fidelity, Goldman Sachs Asset Management, and State Street. Merrill Lynch Investment Management and Schroeder Investment Management confirmed that they're in the running, as well.

More funds could be added in the future, reports the Journal. The Post has $2.013 trillion in deposits, which represents approximately 15 percent of Japanese household financial assets.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use