Nikko drops Tyndall brand name
Nikko Asset Management announced it is pushing global products into the Australian and New Zealand market as it sees the two countries' investors allocating heavily to global assets.
The Tokyo-based company also said it will no longer use the Tyndall brand names in these markets.
"We are one company and therefore should share one name globally as Asia' premier global asset manager," president and CEO of Nikko Takumi Shibata said.
Nikko will provide new products to both retail and institutional clients in both Australia and New Zealand.
Nikko Asset Management New Zealand managing director Peter Lynn said there will be no change to the investment teams, philosophy or processes.
Nikko's Australian operation has A$24 billion in assets under management, which is about 14 per cent of Nikko's total assets of US$168 billion as of June 2014.
The New Zealand arm, operating out of Auckland, had assets under management of NZ$3.8 billion.
Nikko formed a new global multi-asset team in August, led by Al Clark. It also added a global active equity capability headed by William Low, and an Asia ex-Japan equity team led by Peter Sartori in October 2013.
Recommended for you
The firm has appointed Aware Super’s Damian Graham as group chief investment officer to unify its life and funds management teams.
Ethical super fund Australian Ethical has announced the appointment of Anthony Lane as chief operating officer.
The structural shift towards active ETFs will reshape the asset management industry, according to McKinsey, and financial advisers will be a key group for managers to focus their distribution.
ASIC has warned that practices across the $200 billion private credit market are inconsistent and, in some cases, require serious improvement.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
