Prudential Investments today announced an agreement in principle to form a 50-50 joint venture with Mitsui Trust to develop and sell investment trust products - the equivalent of U.S.-style mutual funds - in Japan. The new venture will be named Prudential-Mitsui Trust Investments Co. Ltd. and will be based in Tokyo.
Mitsui Trust will provide the new company with access to a large, affluent retail Japanese client base through its branch system of financial planners. Prudential will provide investment management.
