Nippon AMC ties up with Cathay SITE for cross-selling products

Our Bureau Mumbai | Updated on April 15, 2021

Taiwan’s largest AMC will provide Indian investors with the opportunity to diversify into a sophisticated, tech-heavy market

Cathay SITE (Securities Investment Trust), the largest asset manager in Taiwan, has signed a Letter of Intent (LoI) for strategic collaboration with Nippon Life India Asset Management, a subsidiary of Nippon Life Insurance.

Cathay SITE is the largest asset management company (AMC) in Taiwan, with assets under management totalling $27 billion. Cathay is also the largest segregated account manager in the Taiwan equity market for Taiwan public pensions.

As part of the LoI, both Cathy and Nippon India Mutual Fund will work together and use their expertise to explore areas for developing, managing, marketing and distributing each other’s investment products in India and Taiwan. Both companies will seek to develop and explore business opportunities in active and passive strategies, leveraging upon their specific investment and distribution reach, in India and Taiwan

Sundeep Sikka, ED, Nippon AMC, said the partnership will expand offerings to investors and give access to a unique international market. Cathay’s reach and breadth of product offerings will enable Indian investors to have much-needed diversification out of their local market by providing access to a sophisticated, technology-heavy market, he said.

The idea is to build a true-blue AMC, which has presence across mutual funds, ETFs, off-shore funds, private equity, venture and alternative funds, he said.

Andy Chang, CEO, Cathay, said Taiwan is a global leader in technologies such as chip research and design.

India’s emerging and large middle class is looking to invest its new-found prosperity, and this would allow them exposure to a unique market, he said.

Published on April 15, 2021

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