Asia

JAPAN - Sumitomo Trust and Banking Co. has announced plans to buy Citigroup's Japanese asset management arm, Nikko Asset Management, for JPY112.4bn (US$1.2bn).

SINGAPORE - Martin Currie Investment Management will open an office in Singapore, as the company continues to expand its presence in the Asian region.

ASIA - Asian pension funds could leapfrog over the west and lead the way in implementing environmental, social and corporate governance guidelines, according to a report by the Association for Sustainable & Responsible Investment in Asia (Asria).

JAPAN - Japanese corporate pension funds have increased their allocations to domestic bonds and reduced exposure to equities, a survey by JPMorgan Asset Management Japan reveals.

INDIA - India's pension market is poised to grow 39% year over year to 2013, according the Indian Pension Fund Market Forecast 2013.

JAPAN - Japanese corporate pension funds lost an average of 17.1% in the year ended March 31, the worst losses in over a decade, according to data by Watson Wyatt.

INDIA - The launch of the Indian national New Pension Scheme (NPS) has been set for May 1 following concerns about the ability to inform prospective members in time.

India - The public launch of the New Pension Scheme has been delayed because of impending elections.

CHINA/UNITED ARAB EMIRATES - The Bank of New York Mellon has launched a sovereign advisory board targeting sovereign pension plans, wealth funds, central banks and sovereign owned entities.

INDIA- Franklin Templeton Investments has restructured its management team in its Central and Eastern Europe, Middle East and Africa (CEEMEA) and India divisions.