GLOBAL - Nomura Asset Management (NAM) is to close its Japanese and Pacific Basin products managed by the international client investment team to new business over capacity issues.
In-house research undertaken last year indicated that whilst NAM could manage much more in this strategy based on its current resources, system and people, it would be sensible to run the current assets at around this level for a period of time in order to ensure that no unexpected management issues arise.
Takahide Mizuno (pictured), executive vice president and CI said: “While we think we have capability to manage substantially more than what we have today in our core Japan equity strategy, growth in assets, as well as the number of accounts, has been such that we think its appropriate to take a pause at this time.
“With the assets now approaching US$10bn for the team, we thought it prudent to concentrate our efforts on managing existing assets for now”.
As a result, aside from agreed pipeline mandates, NAM will not take any additional clients into the products mentioned until further notice.
Other products such as Japan small-cap, Pacific Basin ex-Japan, Asia ex-Japan and Japan enhanced indexing equities products remain open to investors.
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