Bancorp Wealth Launches Japan-Registered Fund To Focus On NZ Investments

Vanessa Doctor

14 October 2010

Bancorp Wealth Management has introduced a Japan-registered fund that focuses on New Zealand investments.

The Japan New Zealand Fund is built in conjunction with Japanese securities firm Bansei Yamamaru Securities and is expected to grow to $300 million over the next two years. The fund will invest in Japan-issued yen bonds, Japan-listed companies with interests or a bias to New Zealand, as well as New Zealand bonds, listed equities and private equity with a bias towards trade with Japan.

"Until today, the only way the Japanese could invest in New Zealand was through NZD deposits or the carry trade. Naturally, we think the Japan New Zealand Fund will appeal to a segment of the market that has been largely untapped and so we expect interest to grow and also lead onto other opportunities," Craig Brownie, the managing director of Bancorp Wealth Management and Bancorp New Zealand, said in a statement.

Japanese institutions participating in the fund offer include Sumitomo Trust and Banking, Mitsubishi UFG Financial, and Bansei Asset Management.