AMP Capital enters Japanese alliance
AMP Capital Investors has moved to extend its footprint in Japan via a new strategic alliance.
The company announced today that it had agreed to form a strategic business and capital alliance with Japanese trust bank Mitsubishi UFJ Trust and Banking Corporation (MUTB).
Under the alliance, MUTB will distribute AMP Capital's products to Japanese institutional investors as well as to retail clients via Mitsubishi UFJ Financial Group's retail banking and securities businesses.
As part of the arrangement, MUTB will acquire a 15 per cent minority interest in AMP Capital Holdings for $425 million and be offered a seat on the AMP Capital Holdings board.
The AMP Capital Investors announcement said the alliance would significantly expand its distribution footprint in Japan and accelerate its growth into Asia.
AUTHOR
Mike Taylor
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