British wealth manager Ashmore said on Tuesday that Japan Post Insurance (JPI) had agreed to acquire up to a 2.9% stake in the company and also invest $1 billion in Ashmore-managed emerging market funds.
“Emerging markets represent a strategically important and growing asset class for JPI, and this partnership provides us with access to a broad range of market-leading investment capabilities,” said Kunio Tanigaki, President and CEO of Japan Post Insurance.
The $1 billion initial commitment is in addition to assets that the Japanese insurer currently has under management with Ashmore, with potential for additional capital allocations over time.
Under the partnership, Ashmore will serve as JPI’s strategic partner in emerging market asset classes, providing investment strategies that meet JPI’s investment and risk objectives.
A strategic pivot toward emerging markets and alternative assets has supported wealth managers, even as the United States faced volatility over the past year stemming from President Donald Trump’s trade policies.
Source: Reuters.com