Meiji Yasuda seals partnership with UK’s No. 2 asset manager

Meiji Yasuda seals partnership with UK's No. 2 asset manager

TOKYO — Japan’s Meiji Yasuda Life Insurance has formed a business tie-up with Legal & General Investment Management, the second-largest asset manager in the U.K. and a unit under major British insurer Legal & General, The Nikkei learned Thursday.

     The Japanese insurer and its new business partner plan to jointly develop high-yield asset investment products, with foreign bonds to be included in the portfolios. Given the low yields on Japanese government bonds, Meiji Yasuda is hoping to use LGIM’s expertise to beef up its own ability to develop new products, especially in managing bonds.

     LGIM’s assets under management came to 506.5 billion pounds ($772 billion) at the end of June. The British company has an established reputation for its index-tracker funds, which reflect the performance of a particular stock market or sector.

 (Nikkei)

Meiji Yasuda seals partnership with UK's No. 2 asset manager