Nikko AM Expands Asia-Pacific Reach With Tyndall Purchase

Mar 1 2011 | 9:00am ET

Tokyo-based Nikko Asset Management has completed its purchase of fund manager Tyndall Investments from Suncorp.

Charles Beazley, Nikko AM’s head of international and institutional businesses, says the acquisition will help drive Nikko’s growth in the Asia Pacific region.

“Australia is a strategically important country regionally and an increasingly important source of investment capital and fund management capabilities. Combining our networks and knowledge with Tyndall’s expertise and strong track record creates a business proposition that is perfectly placed to meet the needs of investors in the region and beyond,” Beazley said.

Established in 1959, Nikko Asset Management is a leading Asian investment management company with US$145 billion in AUM. The firm owns 40% of Rongtong Fund Management, a Chinese investment company, and has announced plans to acquire DBS Asset Management, an arm of DBS Bank. The DBSAM acquisition will add US$7 billion to Nikko AM’s assets under management. Since 2009 Nikko AM has been owned by Sumitomo Trust & Banking and by its employees.

Tyndall Investments is a leading investment manager with over $25 billion of funds under management as of January 2011 across both the Tyndall Investments Australia and New Zealand entities. The company offers retail and institutional clients a broad range of investment options across domestic and global fixed income, domestic equities (intrinsic value and core styles) and global equities.

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