Japanese manager Nikko Asset Management (Nikko AM) and Legal & General Investment Management (LGIM) have signed a business cooperation agreement for the provision of investment management services.
Under the agreement, LGIM and Legal & General Investment Management America (LGIMA) will provide global fixed income products that Nikko Asset Management will distribute to Japanese investors, primarily Japanese insurance companies and banks. The first funds are expected to launch in mid-2016.
LGIM has also agreed to facilitate the marketing and sale of Nikko Asset Management’s products in the UK and other countries.
Takumi Shibata, President & CEO of Nikko Asset Management said: “We are delighted to announce our business cooperation with LGIM. We are sure that this collaboration will truly benefit our clients through the provision of differentiated fixed income investment solutions offered by LGIM.”
Mark Zinkula, Chief Executive of LGIM said: “I am delighted to be working with Nikko Asset Management on this new business agreement. Japan is a key part of our strategy as we continue to build out our global asset management business. We look forward to providing Nikko Asset Management’s clients with access to our high quality range of fixed income products and services”.