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Tokio Marine, GOL to launch Japanese SME fund

  • Maya Ando
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Tokio Marine Asset Management (TMAM) and Governance for Owners LLP (GOL) will launch the TMAM-GO Japan Engagement Fund (JEF) to invest in listed companies in Japan to help company to improve long term performance. The fund size was not specified, but Nikkei reported that it would be JPY50 billion ($624 million).

TMAM is the fourth largest discretionary investment advisory firm in Japan by discretionary pension fund assets under management. Total assets under management were JPY5.3 trillion ($66.1 billion) as of March 31. Governance for Owners (GO) is an independent partnership between major financial institutions, shareowners and executives dedicated to adding long-term value for clients by exercising owners' rights. It operates the GO European Focus Fund and GO Stewardship Services, a global fund.

TMAM-GO JEF will in particular target small- and medium-sized enterprises with a view to helping add long-term value. Asset ownership is likely to last around four years.

Akiyoshi Oba, CEO of Tokio Marine Asset Management, said in a statement that the Japanese equity market needs a catalyst for change, having delivered poor returns to shareholders for the past 20 years.

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