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Nikko Asset, Sanford C. Bernstein tie up on investment fund.

TOKYO, Jan. 5 Kyodo

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.
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Comment:Nikko Asset, Sanford C. Bernstein tie up on investment fund.
Publication:Japan Weekly Monitor
Geographic Code:1USA
Date:Jan 10, 2000
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