Nomura Asset Management is looking to bring down costs for clients by merging Luxembourg funds sub-advised by American Century into its Irish Ucits vehicle.
The firm said existing sub-funds of the Luxembourg-domiciled American Century Sicav have been merged into newly established sub-funds of Nomura Funds Ireland plc’s Ucits umbrella fund.
Nomura’s Irish umbrella currently has $7.9 billion in assets under management, including the recently launched American Century Global Small Cap sub-fund.
The firms said the merger was an effort to create a bigger fund platform for both companies and generate cost savings for their clients.
They said the merger also expanded the opportunities for each firm to reach new clients and provide a broader range of solutions.
Sub-funds being merged are: American Century Global Growth Equity; American Century Concentrated Global Growth Equity; American Century Emerging Markets; and American Century Emerging Markets Debt Total Return. Strategies will not be changed.
American Century and Nomura have a partnership dating back to 2016 after Nomura Holdings took a stake in the US manager.
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