Investment giant, Nikko Asset Management, has become the first representative from the Asian investment industry to join the newly formed global trade organisation, ICI Global.
The new initiative was formed by the Investment Company Institute on 1 April and is aiming to be the global “voice of the fund industry”. It’s stated purpose is to advance the common interests between groups and “promote public understanding of global investment funds, their managers and investors”.
Members of ICI, and their affiliates, manage globally at least $16.38trn of Ucits and mutual funds, or 62% of the $26.6 trillion in global mutual fund and ETF assets.
As part of Nikko’s membership, the company’s chief legal officer, David Monroe will join the ICI Global Steering Committee.
Monroe said: “This is an important step for us, given our recent repositioning from our traditional Japanese heritage to a more broadly Asia based asset management company. Given the significant changes happening with investors and regulators in many markets, we believe it’s a crucial time to be contributing to the debate, to ensure managers and their investors have all the facts and can gain a long term perspective, particularly from our position as an Asian focused business.”