Bancorp to Launch Japan New Zealand Fund

Bancorp to Launch Japan New Zealand Fund
First Japanese Fund Provides Exposure and Trade Benefits For New Zealand

Auckland, 13 October 2010 – Bancorp Wealth Management, , announced that it has launched today the first Japan registered fund which specialises in New Zealand investment and which will allow Japanese to specifically invest in New Zealand products and companies.

In conjunction with Bansei Yamamaru Securities (Bansei), one of Japan’s foremost security and broking houses, the flagship Japan New Zealand Fund aims to grow to NZD$300 million (JPY 20 Billion) within two years.

Craig Brownie, Managing Director of Bancorp Wealth Management and Bancorp New Zealand Limited, says that Bancorp has been working on the fund with Bansei for over two years and so is delighted that it is now open for investment.

“This is a milestone for New Zealand and Japan as it is the only registered fund in Japan with a distinct New Zealand focus. As such Bancorp and Bansei are confident that it will attract a lot of interest from Japanese investors who want exposure to New Zealand but in Yen and with liquidity that is quoted daily in the Nikkei,” says Brownie.

Brownie adds the Japan New Zealand Fund will provide good returns to Japanese investors and also promises to increase investment in New Zealand and awareness generally of what the country has to offer.

“The fund provides Japanese investors, institutions and companies access to the best of New Zealand without using debt or high risk investment strategies and at the same time encourages them to learn more about everything we have to offer including an annual invitation to visit New Zealand, airlines and many downstream businesses will also reap economic benefits.”

In addition, Brownie notes that the Japan Fund will invest in Japanese issued Yen bonds, Japanese listed companies with interests or a bias to New Zealand as well as New Zealand bonds, listed equities and private equity with a bias towards trade with Japan.

“Until today, really the only way the Japanese could invest in New Zealand was through NZD deposits or the carry trade. Naturally we think the Japan New Zealand Fund will appeal to a segment of the market that has been largely untapped and so we expect interest to grow and also lead onto other opportunities.”

The Japan New Zealand Fund is a unit trust and has some of Japan’s most respected institutions participating in the offer including Sumitomo Trust and Banking, Mitsubishi UFG Financial Group and Bansei Asset Management.

Bancorp has extensive knowledge of the Japanese market, has a representative office in Tokyo and has built strong networks and relationships with financial and security firms.

ENDS

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