Japan-based Sumitomo Mitsui Asset Management’s (SMAM) CEO Kunio Yokoyama is, reportedly, seeking to more than double its $131 billion assets under management by 2020 through new acquisitions.
Yokoyama told Reuters that the firm aims become the top Japanese asset manager in asset size as well as the quality of products by 2020 over the next three years.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The move comes amid signs of economic recovery and a potential shift by Japan’s main pension fund to put more money into riskier assets.
As part of the three year plan, the company will be open to both domestic and foreign acquisitions.
Additionally, Sumitomo Mitsui intends to boost its offerings of Japanese equities mutual funds and global multi-asset funds but will avoid products such as currency-linked double-decker funds.
"I feel retail money could finally move. A one percent shift to investments by households would create a flow worth JPY16 trillion," Yokoyama was quoted as saying by Reuters.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
