SMBC celebrates Nikko acquisition with fund launch
The SMBC Nikko New World bond and equity funds replicate a structure created by Nomura and are sub-advised by Goldman Sachs Asset Management and Edmond de Rothschild.
Japan has seen its fair share of mergers among financial groups, and it is customary for these to celebrate their integration by launching a new mutual fund. This month witnesses such a debut, following Sumitomo Mitsui Banking Corporation's $7.9 billion acquisition of Nikko Cordial Securities from Citi in May.
Sumitomo Mitsui Asset Management (SMAM) is marketing a pair of funds that are being distributed by both SMBC and Nikko Cordial, marrying one of Japan's biggest commercial banks…
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