Japan’s fund reform to put fee pressure on local players

Japan’s fund industry is set to see a marked inflow of investor assets into passive funds, plus a potential shake-up in the business models of its major players, when a new low fee fund vehicle is introduced next year. The new fund structure, called the Tsumitate Nippon Individual Savings Account (Nisa), will be launched in January. The low cost, installment-type saving product is the first step in the Financial Services Agency (FSA)’s attempt to to lure money out of retail bank a…