DBS Acquisition Brings Nikko AM Assets To US$165B

Sep 30 2011 | 10:14am ET

Nikko Asset Management Group says its recently completed acquisition of DBS Asset Management has made it the largest regional asset manager in Asia with over US$165 billion under management.

The purchase of DBS, a leading Southeast Asian investment firm, from DBS Bank boosted Nikko’s AUM by US$7.9 billion. Under the terms of the deal, the value of which was not revealed, Nikko AM acquired 100% of DBSAM, the asset management subsidiary of DBS; a 30% stake in Hwang-DBS Investment Management Berhad, Malaysia’s leading independent fund management firm; a 51% stake in Asian Islamic Investment Management; and 100% of DBSAM’s Hong Kong subsidiary.

DBS has in turn acquired 7.25% of the enlarged Nikko AM, forming a strategic alliance between the two companies. As part of the alliance, the two have entered into a non-exclusive distribution agreement through which Nikko AM’s investment products can be distributed through DBS’ network of core markets in the region.

Employees of Nikko Asset Management Singapore (the company’s Singapore branch) will transfer to DBSAM within the next few weeks and DBSAM will be renamed Nikko Asset Management Asia on or around October 17.

Timothy McCarthy, chairman and CEO of Nikko AM, said: “I am excited to announce that with the acquisition of DBSAM, we have become a truly local Singaporean company. Many of our team have had decades of experience working and living in Singapore and Asia, while Nikko AM has had an office in Singapore for more than 20 years.”

DBSAM’s 33% stake in the Chinese fund manager Changsheng Fund Management, is not part of the transaction and has been transferred to DBS. Nikko AM already has a strong presence in China, via its 40% ownership of Rongtong Fund Management.


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.