SINGAPORE - Tokyo-based asset manager Nikko Asset Management is setting up a specialist portfolio management team in Singapore, it said on Tuesday.
This is to meet global investors' demand for multi-asset investment strategies, the firm said.
The firm previously had multi-asset staff in separate locations like Singapore, London, New York and Tokyo.
But a core team of 18 will now be consolidated and based here, led by Nikko's global head of multi-asset Al Clark.
The team currently oversees US$24 billion of assets for both institutional and retail clients.
It will launch multi-asset products and integrated solutions for clients around the world.
Assets the team will look into include equities, currencies and commodities, with an allocation of at most 30 per cent to equities.
It has a target return of 12-month Sibor (the Singapore Interbank Offered Rate) plus 3 per cent per annum.
"We recognise Singapore as our centre of excellence for Asia, and as a central hub we will be strengthening our investment capabilities further in this region, and elsewhere as the opportunities arise," said Nikko's global head of investment Wang Yu-Ming.