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New asset management giant in Asia www3.nhk.or.jp
Japan's Mizuho Financial Group and major life insurer Dai-ichi Life Holdings have set up a new company to integrate their asset management services. Asset Management One is one of the biggest firms of its type in Asia.
The company is set to handle about 50 trillion yen, or 500 billion dollars, in assets from individual customers, pension funds and others.
Company President Yasumasa Nishi told reporters that demand for financial products that offer stable returns is growing amid market volatility. He said his firm plans to deliver products that balance return and risk.
The move comes as financial institutions in Japan are reporting declining profits. The Bank of Japan's negative interest rate policy is squeezing their margins.
Many of these firms are counting on commissions from asset management as a stable source of income.
Published Date:2016-10-03
