Legal & General investment management announces Japanese agreement
Legal & General Investment Management (LGIM) has announced a co-operation agreement with Meiji Yasuda Life Insurance Company, the 3rd largest insurance company in Japan and its subsidiary, Meiji Yasuda Asset Management Company. Under the agreement,LGIM will provide global fixed income investment management services to create products primarily for Japanese public and corporate pension funds.
LGIM established a presence in the Asia Pacific region, with the launch of Legal & General Investment Management Asia in 2012 and provides investment services and solutions to sovereign wealth funds, pension funds and insurance companies across the region. The alliance with Meiji Yasuda Life Insurance Company is LGIM's first in the Japanese market.
Meiji Yasuda Life Insurance Company, headquartered in Tokyo, was created in 2004 through the merger of Meiji Life and Yasuda Life. It traces its roots to 1881 making it Japan's oldest life insurance company. Meiji Yasuda Asset Management Company is the asset management arm of the insurance business and dates from 1986.
Mark Zinkula, Chief Executive of LGIM, said: "As we continue building our global asset management business, Japan is a key part of our strategy. I am delighted to form this alliance with Meiji Yasuda. We look forward to providing Meiji Yasuda's clients with access to our high quality range of fixed income products and services".
Toshihiko Yamashita, Senior Managing Executive Officer of Meiji Yasuda Life Insurance Company, said: "We are pleased to enter into this business alliance with LGIM, one of the leading asset managers in the world, especially in global fixed income. We aim to grow the asset management business of both groups by actively marketing LGIM's excellent products and services in the Japanese market through Meiji Yasuda Asset Management."
Notes to editors
LEGAL & GENERAL INVESTMENT MANAGEMENT
Legal & General Investment Management (LGIM) is one of Europe’s largest institutional asset managers and a major global investor. LGIM manages £714.6 billion in total assets for more than 3,000 clients*. Throughout the past 40 years we have built our business through understanding what matters most to our clients and transforming this insight into valuable, accessible investment products and solutions. We provide investment expertise across a full spectrum of asset classes including equities, fixed income, commercial property and cash. Our capabilities range from indextracking and active strategies to liquidity management and liability-based risk management solutions.
*As at 30 June 2015
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