JAPAN - Wilshire Associates and Japanese asset management firm Daiwa SB Investments are launching a hedge fund of funds in Japan aimed at large institutional investors including pension funds, insurance companies and banks.
Under the joint venture, Wilshire Funds Management, the investment management arm of Wilshire Associates, will serve as investment manager while Tokyo-based Daiwa SBI will be responsible for marketing and local client servicing.
Shunsuke Ichijo, senior executive officer of Daiwa SBI, said: “Japanese pension clients are very keen to utilise alternative investment products. The time is now right to offer this new hedge fund of funds to clients as an appropriate vehicle to meet their changing investment needs.”
The two firms said the product was developed in response to increased demand for alternative investments from Asian institutional investors.
Dennis A. Tito (pictured), chairman and CEO of Wilshire Associates, said: “This exciting joint venture formalises and enhances our long and positive history with Daiwa SBI anticipating that the business relationship will grow to include more than simply a hedge fund of funds.
“While we have had a longstanding interest in the area of alternative investments and have had business relationships with a variety of organisations in Japan through our Wilshire Private Markets and Wilshire Analytics operations, we view this as another landmark achievement for our firm.”
Ichijo added: “We believe that our expertise in servicing clients, coupled with Wilshire’s expertise in developing financial investment products, will lead to a long and lasting partnership and will support our efforts to better service our institutional investors by bringing the best of investment products to market in a timely manner.”
Daiwa SBI and Wilshire Associates advise combined assets of approximately US$600bn.
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