Nikko Asset Management Co. Ltd, together with its subsidiaries, Nikko AM Group, one of Asia’s largest asset managers, has reached an agreement to transfer its ManCo in Luxembourg to FundRock Management Company S.A., a subsidiary of Apex Group. The transfer agreement includes the sale of Nikko Asset Management Luxembourg S.A. to Apex. Following this, FundRock Management Company S.A., Apex Group’s Super ManCo in Luxembourg, will handle ManCo services. Fund distribution activities are not part of the transaction and will remain with Nikko AM Group and its subsidiaries. The transaction is subject to regulatory approval.
Nikko AM Group has a range of Luxembourg-domiciled funds comprised of three UCITS umbrella funds and one RAIF, with total assets of over USD7bn, which are all supported by its in-house ManCo in Luxembourg.