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Charlie Metcalfe , President of Nikko AM Europe

Nikko AM selected to run NYSE-listed greater China mutual fundNIKKO AM


Nikko Asset Management has been appointed as the actual investment manager of the Shelton Greater China Fund (NYSE: TFC.

The Board of the Fund has acknowledged that Nikko AM has the ideal market positioning and required expertise to manage assets invested in the greater China region. The firm has a history as the first asset management company granted QFII status, and the first foreign asset management company to offer a China A-share fund outside China. The Portfolio Manager of the strategy will be Mr. Kwok-On Fung, head of the China Fund Management Team. Nikko AM will provide proprietary research and portfolio management services, while also assisting in the marketing of the Fund to US investors, via US financial intermediaries.
Nikko AM was appointed following a meeting of the Fund’s shareholders in New York on Friday 27 May, while the shareholders also approved the Board’s recommendation to convert the Fund from a closed-end investment company to an open-end investment company, which is expected to occur later this year. Simultaneously, the investment remit of the Fund has been broadened to invest in companies in the greater China region, including Taiwan, Hong Kong, Singapore and the People’s Republic of China. This reflects the wider range of investment opportunities available.
Charlie Metcalfe (pictured), President of Nikko Asset Management Europe Ltd, says: “For more than 50 years, Nikko AM has been dedicated to understanding and meeting the needs of investors in the Asia-Pacific region and helping global investors enter this market. Greater China is home to some of the world’s strongest and fastest growing economies. Over the next 20 years, Greater China will continue to grow to a point where it will exceed a quarter of the world’s GDP. Today, it is less than 10%. This growth presents a major opportunity for investors and one that will increasingly become important as a core portfolio holding.”
Nikko AM’s appointment follows the announcement last December that it had reached an agreement with DBS Bank Ltd to acquire DBS Asset Management, the asset management arm of DBS Bank, and one of South East Asia’s leading investment management firms. This development followed after Nikko AM signed an agreement to acquire Tyndall Investments, a leading investment management firm in Australia and New Zealand. The transactions significantly broaden the firm’s investment platforms and distribution capabilities across Asia, while bringing the firm’s total AUM to over US$160 billion. Nikko AM is already a 40% shareholder of Rongtong Fund Management Company, the 6th largest Sino-foreign joint venture fund management company in China. 

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