Nikko preps first offshore hedge fund

Nikko Asset Management is to offer its first offshore fund of hedge funds for Japanese pension fund clients.

Nikko Asset Management has entered an alliance with a globalĀ hedge fund service provider to launch a new offshore fund of hedge funds. Nikko already provides a range of alternative investments for its Japanese clients, but these are all onshore, yen-based strategies. Now the firm is looking to broaden its horizons and provide Japanese pension funds with a global hedge fund exposure, says Masafumi Hikima, president and CEO at Nikko AM in Tokyo.

Nikko's role will be gatekeeper for the clients and conducting asset allocation, while the US-based partner is charged with selecting the hedge fund managers. The partner's name will be announced soon.

The arrangement reflects the rapidly...

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