Nikko AM Tyndall Investments Acquisition

Timothy McCarthy, Chairman & CEO of Nikko Asset Management Co.., Ltd.. (Nikko AM) has announced that it agreed to acquire the fund manager Tyndall Investments of the Suncorp Group, one of the largest financial services organizations in Australia and New Zealand.
Tyndall Investments (Tyndall) is an investment fund management companies from Australia and New Zealand which has gained many awards and has assets under management of funds Aus $ 25 billion. The company is known and respected in both countries manage the assets Australian & New Zealand Equity and fixed interest on behalf of institutional investors, pension funds, and private clients in a range of products to stock and mutual fund area. Supported 63 people staff and offices in Sydney, Brisbane, Melbourne, Auckland, New Zealand plus.
In addition, Tyndall known as the largest investment management companies of the 15th in Australia and ranked the 5th largest in New Zealand. This acquisition will create an important strategic partnerships in Australia. With a potential market of about Aus $ 1.25 trillion, Australia is the largest mutual fund market-4 in the world and is expected to grow 13% CAGR (compound annual growth rate) between 2010 -20.
Nikko AM will support the supervision and management of assets to Suncorp Tyndall Group. That will help provide investment products for companies and contributes to the range of insurance and savings products aimed at Suncorp 7 million customers.
Clearly, the acquisition of Tyndall will enhance Nikko AM funds under management to $ 145 billion. This is a step Nikko AM to become Asia's leading investment management firm. These last few years, Nikko AM successfully diversify beyond its reputation as one of the largest asset management company in Japan, where Nikko AM has more than 200 distributors. Nikko AM has established its operations in Asia and other countries significantly.
Nikko AM has the capability of investment management and distribution in Tokyo, Singapore, London and New York, as well as offices in Hong Kong. In addition, Nikko AM holds 40% ownership in Rongtong Fund Management Company, a leading investment management company in China. This strength is supported by more than 530 employees worldwide, and in the near future almost 30% of its assets will come from outside Japan and nearly 30% of employees will be located outside of Japan as well.