A recent NRI study revealed major differences in cost structures between investment trust and investment advisory businesses, with front-office operations accounting for a much smaller share of total costs...
In February 2009 the Nomura Research Institute conducted its second survey of equity trading at Japanese asset management firms. The survey targeted trading division heads at 57 companies, including...
In Japan, listed companies' stock certificates became completely paperless in January 2009, ending one phase of securities clearing system reform dating back to the 1990s. In the wake of...
Japanese asset management companies have only recently started to use alternative trading systems (ATS), but ATS usage is likely to grow in the future. While some asset management companies...
Assets have recently started to flow out of income-oriented investment trusts, a key driving force behind the shift from saving to investment in recent years. These outflows reflect structural...
I often receive inquiries about Japan's social security pension schemes from researchers and other interested parties overseas. In the course of responding to such inquiries, I felt that it...
Asset management companies' FY08 revenues apparently fell some 20% form FY07. With the asset management industry undergoing consolidation led by foreign financial institutions, Japanese asset management companies face the...
It is important for financial institutions to reach an industry-wide consensus on methods for determining illiquid financial products’ fair value. Equally important is an understanding of mark-to-model valuation’s limitations...
Smart order routing is the key to success in the dark pool business. Its importance is likely to increase in tandem with growth in off-exchange trading and proliferation of...
Investment returns have deteriorated precipitously as a result of recent asset price declines. Most investment trust investors now have unrealized losses on their holdings. Investment trusts are unlikely to...