- Nikko AM World Series Fund Platform to extend across Europe and Asia
- Aoifinn Devitt appointed to lead the expansion out of London
Nikko Asset Management Co., Ltd ("Nikko AM") today announced the appointment of Aoifinn
Devitt as Head of World Series Fund Platform
to lead and manage the expansion of Nikko AM's
manager selection business from primarily Japan, to Europe and other parts of Asia.
The World Series Fund Platform
channels funds packaged under the Nikko AM brand which are
currently sub-advised by more than 40 managers worldwide including PIMCO, Wellington, JP
Morgan Asset Management, Ashmore, Blue Bayand Franklin Templeton and distributed to
institutional, retail and high net worth investors across Asia. The Nikko AM group's broad
distributor network now includes more than 300 Asian intermediaries.
The platform, which centres on research conducted out of New York and Sydney, currently has
over US$ 29 billion
of third-party manager products distributed across Japan, Australia and
Singapore. These products are typically invested in specific geographic areas or industry sectors
including emerging markets, infrastructure and healthcare and pursue non-traditional
strategies such as alternative investments, emerging multi-asset funds, hedge funds and REITs.
Nikko AM is now expanding the World Series Fund Platform
to increase the scope of providers
covered by the programme, as well as extend distribution across new marke ts with a greater
focus on non-Japan Asia. By partnering with external managers on a sub-advisory basis, Nikko
AM intends to continue to broaden its product line-up and cater to investors' evolving needs.
Aoifinn will be based in London and will manage the global third -party manager research and
selection functions, while further developing Nikko AM's "manager of manager" product line. She
will unify and leverage Nikko AM's existing network of teams in New York, Tokyo and
Sydney, and build out additional capabilities in Europe and other parts of Asia.
In addition to leading the World Series Fund Platform
, Aoifinn is currently the appointed
investment sub-adviser to the City Financial Asian Absolute Growth Fund2
, an Asian focused
multi-manager fund with approximately US$60 million in assets under management, in which a
number of prominent UK pension funds invest. It is City Financial's intention, concurrent with
Aoifinn's start and subject to the receipt of all regulatory approvals, to appoint Nikko AM as
sub-advisor to the City Financial Asian Absolute Growth Fund. Under this arrangement, the fund
will have access to the broader resources of the World Series Fund Platform
and Nikko AM's
extensive distribution capabilities.
Aoifinn has established a strong reputation in the global manager selection market, having
previously worked at Cambridge Associates and Goldman Sachs.
Charlie Metcalfe, President of Nikko AM Europe,commented:
"As Asian specialists, when we don't have the investment capability in-house, we may partner
with external managers to provide interesting, best-in-class solutions, packaged under the
well-recognised Nikko AM brand and distributed to investors via our intermediaries.
Likewise, Nikko AM's World Series Fund Platform
has established itself as a unique channel for
many of the world's leading asset managers to tap into our extensive distribution network in
Asia. Growing investor demand, coupled with Nikko AM's distribution arrangements and the
barriers to entry for non-Asian managers, means that the World Series Fund Platform
scope to develop further.
Aside from the immediate Asian hedge fund of fund benefits, Aoifinn brings extraordinary
experience, energy, intelligence and entrepreneurial skills to our business. She will develop the
group's existing capabilities, add new ones, and provide a common framework of analysis,
process and operations across our offices."
Aoifinn Devitt commented:
"This is an excellent opportunity to bring my experience, skills and relationships to bear within
Nikko AM as it builds on the success of the World Series Fund Platform
. We can tap in to the
outstanding growth opportunities in Asia, where Nikko AM has established a clear presence and
reputation as the world's leading Asian asset management company. Additionally, what I
currently deliver to UK institutional investors within the City Financial Asian Absolute Growth
will be materially enhanced by Nikko AM's reach."
1 As at 30April 2012.
2 City Financial Investment Company Limited is a London-based asset management group authorised and regulated by
the Financial Services Authority. The City Financial Asian Absolute Growth Fund is not available in Singapore.
3 See pt 2
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