Global asset managers are increasingly drawn into Japan, hoping to get a piece of the country’s huge pile of investible cash.
According to Nikkei Asian Review, Wisdom Tree plans to set up an office in Japan this year. The U.S. firm has been selling products to Japanese investors though domestic brokerages.
Another U.S. manager, Guggenheim Partners has set its sights on institutional investors such as pension funds and insurers for its bond-focused investment strategies, the report said.
Then there’s Australia’s IFM Investors, which was given the go-ahead to offer mutual funds to Japanese institutional investors, the Nikkei said.
The Japanese has an estimated $3 trillion set aside for retirement, while another $7 trillion were held in cash or bank deposits, according to a Wall Street Journal report.
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