Nikko Asset, Sanford C. Bernstein tie up on investment fund.
Nikko Asset Management Co. said Wednesday it has agreed to tie up with U.S. asset management firm Sanford C. Bernstein and Co. over investment trusts targeted at foreign stocks.
Under the agreement, the two companies will cooperate in the development and management of trusts that invest in foreign stocks, Nikko Asset Management said.
Nikko Asset Management, a unit of Nikko Securities Co., already has a broad business agreement with Fischer Francis Trees and Watts Inc. of the United States on investment in foreign bonds.
In a related development, Dai-Ichi Kangyo Fuji Trust and Banking Co. said it has signed a contract with Sanford C. Bernstein to obtain financial information about some 600 U.S. businesses for use in pension-fund management.
Dai-Ichi Kangyo Fuji Trust is a joint venture of Dai-Ichi Kangyo Bank and Fuji Bank.
|Printer friendly Cite/link Email Feedback|
|Comment:||Nikko Asset, Sanford C. Bernstein tie up on investment fund.|
|Publication:||Japan Weekly Monitor|
|Date:||Jan 10, 2000|
|Previous Article:||BOJ moves to drain funds from money market.|
|Next Article:||Tokyo stocks close sharply lower on Wall Street plunge.|