MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, June 2, 2008 Once Again, Japan Fund Tries A New Advisor Trustees of the Japan Fund have again decided to swap advisors. This time the new advisor will be Nomura Holdings, a Tokyo-based asset manager. Nomura Asset Management will replace Fidelity Investments as the $300 million fund's stockpicker. This is not the first time the fund has swapped advisors. In 2002, the board dropped Scudder Investments (now part of Deutsche Asset Management) as the fund's advisor in favor of Fidelity (see MFWire, 07/15/2002). For Nomura, the move marks its entry into the U.S. fund business. "This alliance provides Nomura Asset Management with an expedited entrance into the U.S. retail mutual fund market. It allows us to leap frog to a leadership position in the marketplace," stated Shigeru Shinohara, CEO of Nomura Asset Management U.S.A., in a press release. Reuters reported that Nomura spokesperson said the asset manager has plans to add several additional funds focused on Asian countries, including China and India. Printed from: MFWire.com/story.asp?s=18390 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |