Aberdeen Asset Management is opening an office in Japan with a license to provide advisory services. The initial reason is to transfer part of the investment process for Japanese equities from Singapore to Tokyo, but the company intends to build an onshore business-development presence as well, says Patrick Corfe, director of marketing in Singapore.
The firm has managed Japanese equities since 1992. Its bottom-up stock-picking style makes having an onshore presence desirable. Only recently, however, has the firm gained enough size to warrant the expense.
Last year it gained a number of new Japanese clients when it purchased fund management units based in London and Philadelphia from Deutsche Asset Management. Corfe says these units run...
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