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Rating:Managers Vie for Slots with Japan Post Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, August 18, 2005

Managers Vie for Slots with Japan Post

by: Theresa Sim

The Japan Post's scheme to start selling mutual funds is starting to take shape.

Reuters reports that the institution may name managers for the first wave of three investments on August 29.

The two Japanese stock funds and one international balance fund will each have one fund manager, reports Reuters. The funds will begin selling at 575 of the Post's 24,700 branches on October 3.

The Post is selecting from 23 managers, including Nomura Asset Management, Nissay Asset Management and Deutsche Asset Management.

The Post is the world's largest financial institution, by assets under management, reports Reuters. The Post currently holds 209.5 trillion yen in postal savings accounts and 177.7 trillion yen in postal life insurance.  

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