Fidelity Investments Japan Establishs New Funds For Baby Boomers
Posted October 31, 2007
Fidelity Investments Japan Ltd., trailing Nikko Asset Management Co. and Nomura Asset Management Co., plans to move oversight of its bond funds to Tokyo from Hong Kong to gain customers in the country’s retirement market. Japan has 6.9 million people born between 1947 and 1949 who will get about 85 trillion yen of retirement payouts in the next five years, according to estimates from Tokyo-based Nomura Holdings Inc., the nation’s biggest brokerage. Nomura estimates about 60 percent of the money, or 51 trillion yen, will be invested in stocks and mutual funds. Thirty percent will be used to pay debt and 10 percent will go to short-term spending.
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