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.
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.