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Nikko Asset Management wins mandate from nib New Zealand
Nikko Asset Management wins mandate from nib New Zealand
Nikko Asset Management New Zealand has won a new mandate to manage private health insurer nib New Zealand’s investment funds, of over $100 million, following a competitive review process.
“We have a strong track record in, and a thorough understanding of the investment requirements of, the New Zealand insurance sector,” said Peter Lynn, managing director at Nikko Asset Management New Zealand.
“The average tenure of Nikko Asset Management’s client base is well over a decade, which reflects the emphasis we place on client relationships and on working with clients as partners.”
This new mandate, combined with strong performance across the business, including the Retail Cash Fund growing to more than $100 million in AUM since its first in-flow in June 2014, has helped drive the company’s total AUM to $4.6 billion, a $0.7 billion increase since December 2014.
Nikko Asset Management NZ is the New Zealand subsidiary of Tokyo-based Nikko Asset Management, which held approximately US$161.3 billion (NZ$241 billion) in AUM as ofJune 2015.
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