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.
Following the terms of the agreement, LGIM and Legal & General Investment Management America (LGIMA) will provide global fixed income products distributed by Nikko AM to Japanese investors, primarily Japanese insurance companies and banks.
The launch of the first funds is expected at mid-2016.
The deal is also to ease 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, CEO 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.”