Martin Currie, an Edinburgh-based equity specialist and part of Legg Mason, has secured all necessary approvals to complete the acquisition of the business assets and investment management team of London-based long/short Japan Equity boutique, PK Investment Management.
The PK Investment Management team, headed by Paul Kirkby, will be joined by Martin Currie incumbent manager, Claire Marwick.
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The addition of the team will boost Martin Currie’s total assets under management to $425m.
Additionally, Kirkby will also be named as lead manager of the Legg Mason Japan Absolute Alpha Fund the Luxembourg domiciled UCITS fund.
Martin Currie head of sales and marketing Andy Sowerby said: "This is an exciting milestone in the development of our Japanese long/short capability. Paul has over 30 years’ experience in managing Japanese equities and is backed by a proven team who together have combined experience of the Japanese market in excess of 97 years."
Kirkby said: "We are delighted to be joining Martin Currie at this particularly interesting time. Japan has now recorded four consecutive years of gains and it will be interesting to see if this trend can be continued in 2016.
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By GlobalData"Whilst the stock market has doubled from the 2012 lows, profits have grown at the same pace and thus valuations are not as stretched as might be expected."
