Nikko Asset Management Co has joined the global trade organisation ICI Global, becoming the first representative of the Asian asset management industry to join the the newly formed initiative of the Investment Company Institute (ICI), which focuses on regulatory, market and other issues for global investment funds, their managers and investors.
Dan Waters, the managing director of ICI Global says: “Nikko Asset Management’s decision to join our global funds association is an important development. Asia is a region of significant scale and growth for the fund industry, and having Nikko Asset Management – a prominent Asian fund management company headquartered in Japan – as a member, underscores the international reach and focus of ICI Global. We anticipate our membership in this crucially important market will continue to deepen.”
David Monroe, Nikko AM’s Chief Legal Officer, will join the ICI Global Steering Committee. He is uniquely qualified through his many years of experience in Asia to provide input on a wide variety of regulatory developments, market structure and other policy issues affecting the asset management industry in Asia and beyond.
David Monroe says: “It is an honour for Nikko Asset Management to be the first asset management company in Asia to join ICI Global. This is an important step for us, given our recent repositioning from our traditional Japanese heritage to a more broadly Asia based asset management company. Given the significant changes happening with investors and regulators in many markets, we believe it’s a crucial time to be contributing to the debate, to ensure managers and their investors have all the facts and can gain a long term perspective, particularly from our position as an Asian focused business.”
ICI members and their affiliates manage globally at least USD16.38 trillion of UCITs, mutual funds, or 62% of the USD26.6 trillion in global mutual fund and ETF assets.