Nikko AM buys stake in US investment adviser
Nikko Asset Management has announced an acquisition of a minority stake in a US-based private investment firm, ARK Investment Management, to enhance its innovation investment solutions.
Under the terms of the deal, Nikko AM would obtain exclusivity to offer ARK products and investment strategies in Japan and the Asia-Pacific while its investment team would work closely with ARK’s analysts.
ARK, which uses an open research ecosystem to develop insights into disruptive innovation spanning different sectors and geographies, derives alpha by investing in leaders and enablers of disruptive technologies, with low overlap to broad-market indices.
The firm also launched five exchange traded funds (ETFs), including four active ETFs, investing in themes such as deep learnings and mobility-as-a-service.
Additionally, the company served as an adviser to Nikko AM’s Global Fintech Equity Fund, which was launched in Japan in 2016.
Nikko AM’s president and chief executive, Takumi Shibata, said: “We are extremely excited to welcome ARK to the Nikko AM family”.
“The established expertise of our in-house investment team combined with ARK’s strategies focused on disruptive technology and innovation enable progressive solutions for our clients.
“Our Global Fintech Fund is an example of the success we have already achieved together, and we are confident of more to come with this deepening of the connection,” he said.
As far as the shareholders’ structure was concerned, ARK’s founder and chief executive, Catherine D. Wood would continue to own a majority stake while the company’s strategic US partner, Resolute Investment Management would remain its minority shareholder.
AUTHOR
Oksana Patron
Recommended for you
Evidentia’s chief investment strategist Nathan Lim has announced his retirement after a 30-year career.
GQG Partners has marked its fifth consecutive month of outflows as its AI concerns lead to fund underperformance but overall funds under management increased to US$166.1 billion.
Apostle Funds Management is actively pursuing further partnerships in Asia and Europe but finding a suitable manager is a “needle in a haystack”.
Managed account provider Trellia Wealth Partners, formed from the merger between Betashares and InvestSense, has appointed its first managing partner.
