SuMi TRUST Global Asset Services will launch a new global investment grade fund to be managed by BlueBay Asset Management, and for exclusive distribution in Japan through Sumitomo Mitsui Trust Bank (SMTB).
The fund will be structured as a Cayman open-ended trust and will be distributed to SMTB’s pension fund clients.
It will launch with $69 million, with offers of both accumulation and distribution share classes in Japanese yen, hedged and un-hedged.
BlueBay will target returns that aim to meet the expectation of Japanese pension funds, while SuMi TRUST will provide trustee, administration and global custody services through their affiliated companies in Cayman, Ireland and the UK.
SMTB is the largest trust bank in Japan in terms of market share, assets under custody and assets under management.
Ken Yoshida, BlueBay partner and head of sales North East Asia said: “We have found SuMi TRUST's efficiency, well established knowledge of the Japanese market and delivery to be of the highest quality.”
“We believe SMTB is very well-placed to promote this investment strategy to their Trust Bank clients and we are looking forward to a long term relationship together.”
Karl McEneff, CEO of SuMi TRUST Global Asset Services, added: "We are delighted to be working with BlueBay to launch the fund in partnership with our parent company SMTB, to deliver a superior structure and service model to support our Trust Bank Pension Fund clients.”
“BlueBay is a top tier investment manager and we look forward to expanding our relationship together going forward."
