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7/29/2019 Investment Europe
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15/12 Investment Europe
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Nikko Asset Management is looking for new fund managers for its World Series Fund Platform. Aoifinn Devitt(pictured) explains how managers are selected and monitored
With many investors and asset managers turning to Asia for business growth and for investment returns, Nikko
Asset Management is positioning itself as a broker between the region and the rest of the world.
In May, the firm hired Aoifinn Devitt (pictured) from Ignis Asset Management to head its manager selection
business from primarily Japan, to Europe and other parts of Asia.
Previously at Cambridge Associates and at Goldman Sachs, London-based Devitt says said the World Series
platform evolved from a need among Nikko AM's Japanese clients looking for the best managers outside of
Japan and Asia. "
We have in-house capabilities, but we also want to access global manager talent," she explained. "So we have
developed flexible pull and push strategies to meet client demand."
The pull strategy is when clients are interested in the best-of-breed funds already on the platform, while the push
strategy is pre-emptive - doing due diligence on funds not yet included. "There are many ways to reach a
solution," says Devitt, partly because client requirements are very different.
The platform now has over $29bn of third-party manager products distributed across Japan, Australia and
Singapore. It includes vehicles sub-advised by more than 40 managers, including PIMCO, Wellington, JP
Morgan Asset Management, Ashmore, Blue Bay and Franklin Templeton.
Yield and inflation hedging are the most sought after outcomes at the moment. The funds are marketed under the
Nikko AM brand and distributed to institutional, retail and high net worth investors across Asia. The firm is
actively expanding the network of 300 intermediaries it already uses in Asia, with a greater focus outside Japan.
Devitt, already highly regarded as a global fund selector, describes the platform's process: "We do full due
diligence on investment strategies, operations and risk management, drawing on the resources of the wider firm
(Nikko AM). Then we see how the product can best be wrapped for the client. That may involve an overlay or
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a share class for tailored solutions, but we also check the fund can do that without detracting from the overall
value proposition."
Unusually, there are no set requirements in asset size, strategy or even track record for inclusion on the platform.
"We are open minded and constantly scouring for talent. There are not always strict constraints. We want to
source innovators who are in touch with changing times, who have a dynamic approach and product."
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Incisive Media Investments Limited 2011, Published by Incisive Financial Publishing Limited, Haymarket
House, 28-29 Haymarket, London SW1Y 4RX, are companies registered in England and Wales with company
registration numbers 04252091 & 04252093.