Monday, 27 April 2015
Last updated 32 min ago
Nov 16 2010 | 8:50am ET
Tokyo-based Nikko Asset Management will extend its international reach with the acquisition of the US$25 billion Australian/New Zealand fund management company Tyndall Investments from Suncorp Group.
Tyndall manages Australian and New Zealand equity and fixed interest assets on behalf of institutional investors, superannuation funds and private clients in a broad range of equity and fixed income products. With a staff of 63 and offices in Sydney, Brisbane, Melbourne and Auckland (NZ), Tyndall Investments is the 15th largest fund manager in Australia and the fifth largest in New Zealand.
Nikko Chairman and CEO Tim McCarthy said the acquisition of Tyndall would bring Nikko “a first-rate investment team and tremendous local knowledge.”
Nikko AM will support Tyndall Investments stewardship and management of assets for the Suncorp Group, help provide investment products to the company and contribute to Suncorp’s insurance and savings product range across its seven million strong customer base.
The acquisition of Tyndall Investments will take Nikko AM’s assets under management to US$145 billion. In recent years the firm has successfully diversified beyond Japan, where it has over 200 distributors, and now has investment management and distribution capabilities in Tokyo, Singapore, London and New York, and an office in Hong Kong. In addition the firm owns 40% of Rongtong Fund Management Company, a leading investment management company in China. With over 530 employees worldwide, Nikko AM will shortly have almost 30% of its assets sourced from outside Japan and nearly 30% of its employees located internationally.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…