Legal & General Investment Management (LGIM) has announced a co-operation agreement with Meiji Yasuda Life Insurance Company and its subsidiary, Meiji Yasuda Asset Management Company in a bid to expand its services to Japanese pension funds.
Meiji Yasuda Life Insurance Company is the third largest insurance company in Japan, LGIM will now provide global fixed income investment management services to create products primarily for Japanese public and corporate pension funds.
Mark Zinkula (pictured left), chief executive of LGIM said: “As we continue building our global asset management business, Japan is a key part of our strategy. I am delighted to form this alliance with Meiji Yasuda. We look forward to providing Meiji Yasuda’s clients with access to our high quality range of fixed income products and services”.
Toshihiko Yamashita (pictured right), senior managing executive officer of Meiji Yasuda Life Insurance Company adds: “We are pleased to enter into this business alliance with LGIM, one of the leading asset managers in the world, especially in global fixed income. We aim to grow the asset management business of both groups by actively marketing LGIM’s excellent products and services in the Japanese market through Meiji Yasuda Asset Management.”
While LGIM has been present in the Asia-Pacific region since 2012, the agreement constitutes its first step into the Japanese market.