Nomura Asset Management managed 4.805 trillion yen ($44.7 billion) of public and private pension fund assets in Japan as of Sept. 30, highest among all asset managers, according to an analysis by the Japan Pensions Industry Database. DIAM International was second with 4.773 trillion yen, and BGI was third with 4.326 trillion yen. The number of mandates held by Nomura rose to 294 as of last Sept. 30, up from 289 as of March 31.
Winning pension mandates is tough in Japan, Jo McBride, founder and publisher of the Japan Pensions Industry Database, said in a news release. The country has the worlds second largest pool of job-based pensions savings after the U.S., but it has no pensions media in which fund managers can advertise, no mailing labels provider and not much of anything at all by way of marketing aids. It is down to putting Tokyo staff on trains and boats and planes. For domestic and foreign firms alike, it is expensive and it is hard work.