HighMark Capital Management, Inc. has reached an agreement to manage assets for Tokyo-Mitsubishi Asset Management (TMAM), an affiliate of The Bank of Tokyo-Mitsubishi, Ltd. (BTM).

HighMark will subadvise on an investment trust portfolio of U.S. equities. The trust, which is similar to a U.S. mutual fund, is targeted to Japanese investors, such as individuals saving for retirement or other personal finance goals.

The trust will be marketed through BTM's branch network and its affiliated broker/dealers: Tokyo-Mitsubishi Securities, Ryoko Securities, and Dainana Securities

"We are optimistic about the possibilities these agreements offer," states Clark Gates, president of HighMark Capital Management, who announced the agreement. "The trust gives Japanese investors an opportunity to include U.S. equities among their investments. Japanese investors have generally been conservative, but changes in regulations and current domestic markets make diversification of investments more attractive."

"We believe both the retail and pension markets in Japan are due for substantial growth," Mr. Gates adds. "We and our colleagues at TMAM and BTM feel these agreements provide excellent opportunities for both organizations to participate more fully in the emerging financial services market in Japan." Gates also told the MFWire that Highmark was being considered as subadvisor for the U.S. equity portion of a BTM Global Fund planned for later this year, to be registered in Luxembourg.

The Investment Trust portfolio will be managed by Richard Earnest, CFA, senior vice president and portfolio manager, a 30-year veteran of HighMark Capital Management.  

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