Nomura Asset Management, Japan's largest fund manager, is pushing to diversify its retail business by selling more products abroad, particularly in Asia, the head of its Hong Kong operation said.
The Nomura Holdings Inc unit plans to launch two or three new offshore funds into the Hong Kong market in the "near future" and is looking to expand both its Hong Kong and Singapore offices, added Yasuhiro Yokota, president of Nomura Asset Management Hong Kong. "Once you get a good reputation in the institutional market, you can use that reputation to enter the individual retail market," he told Reuters in an interview.
"We have a very good reputation among the various institutional and pension clients all over the world. So the next step we should explore is the individual and retail market, especially in Asia."