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4-Traders Homepage  >  Equities  >  Tokyo  >  Sumitomo Mitsui Financial Group, Inc.    8316   JP3890350006

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Nikko Asset Management and ARK Invest Partner for Disruptive Innovation Investment Solutions

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08/04/2017 | 06:23am CEST

TOKYO, Aug 4, 2017 - (ACN Newswire) - Nikko Asset Management ("Nikko AM") today announces that it is enhancing its disruptive innovation focused investment solutions by acquiring a minority stake in ARK Investment Management LLC ("ARK"). In this partnership Nikko AM will obtain exclusivity to offer ARK products and investment strategies in Japan and the Asia Pacific while its investment team intends to continue working closely with ARK's disruptive innovation focused analysts.

ARK has served as a sub advisor to Nikko AM's Global Fintech Equity Fund, launched in Japan in December 2016 with total assets of over JPY 75 billion as of July 2017. The now enhanced partnership is a natural progression from that successful start.

"We are extremely excited to welcome ARK to the Nikko AM family. The established expertise of our in-house investment team combined with ARK's strategies focused on disruptive technology and innovation enable progressive solutions for our clients. Our Global Fintech Equity Fund is an example of the success we have already achieved together, and we are confident of more to come with this deepening of the connection," said Nikko Asset Management President & CEO Takumi Shibata.

ARK is a leading US-based investment manager that utilizes an open research ecosystem to develop insights into disruptive innovation. Its analysts are organized by disruptive innovation themes that span sectors, geographies, and market capitalizations. ARK derives alpha by investing in leaders, enablers, and beneficiaries of disruptive technologies, with low overlap to broad-market indices. The firm has launched five ETFs, including four active ETFs, investing in themes such as Deep Learning and Mobility-as-a-Service. In addition, ARK has established an investment advisory service for institutional clients which utilizes ARK's innovative strategies to diversify portfolios.

"We are honored and delighted that Nikko AM has cemented our partnership with an ownership interest in ARK," said ARK CEO & Chief Investment Officer Catherine D. Wood. "Nikko AM's appetite for innovation focused investment solutions is well aligned with ARK's conviction that innovation is key to growth. An entirely new market of investors will benefit now from Nikko AM's ability to deliver disruptive innovation, which is transforming both industries and the global economy, through ARK's investment strategies."

With Nikko AM's investment, Catherine D. Wood, ARK's founder and CEO, continues to own a majority stake in ARK, and Resolute Investment Managers, Inc., ARK's strategic partner in the US, remains a minority shareholder in ARK.

About Nikko Asset Management

With US$182.7 billion (20.36 trillion yen)* under management, Nikko Asset Management is one of Asia's largest asset managers, providing high-conviction, active fund management across a range of Equity, Fixed Income, Multi-Asset and Alternative strategies. In addition, its complementary range of passive strategies covers more than 20 indices and includes some of Asia's largest exchange-traded funds (ETFs).

Headquartered in Asia since 1959, the firm represents more than 200** investment professionals and over 30 nationalities across 11 countries. More than 300 banks, brokers, financial advisors and life insurance companies around the world distribute the company's products.

The investment teams benefit from a unique global perspective complemented by the firm's historic Asian DNA, striving to deliver consistent excellence in performance. The firm also prides itself on its progressive solution-driven approach, which has led to many innovative funds launched for its clients.

For more information about Nikko Asset Management and to access its investment insights, please visit the firm's homepage. http://en.nikkoam.com/

* Consolidated assets under management and sub-advisory of Nikko Asset Management and its subsidiaries as of March 31, 2017.

** As of March 31, 2017, including employees of Nikko Asset Management and its subsidiaries.

About ARK Investment Management LLC

Headquartered in New York City, ARK Investment Management LLC is a federally registered investment adviser and privately held investment firm, specializing in thematic investing in disruptive innovation. The firm is rooted in over 40 years of experience in identifying and investing in disruptive innovations that are changing the way the world works and delivering outsized growth as industries transform. Through its open research process, ARK identifies companies that it believes are leading and benefiting from cross-sector innovations such as robotics, 3D printing, big data, machine learning, blockchain technology, cloud computing, energy storage, and DNA sequencing. ARK's investment strategies include: Industrial Innovation, Next Generation Internet, Genomic Revolution, Fintech Innovations, 3D Printing, Israel Innovative Technologies, and the overall ARK Disruptive Innovation Strategy.

For additional information regarding ARK's strategies, please visit www.ark-invest.com.

Copyright 2017 JCN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Financials ( JPY)
Sales 2018 4 955 B
EBIT 2018 995 B
Net income 2018 665 B
Debt 2018 -
Yield 2018 3,63%
P/E ratio 2018 9,24
P/E ratio 2019 9,08
Capi. / Sales 2018 1,26x
Capi. / Sales 2019 1,26x
Capitalization 6 219 B
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 5 049  JPY
Spread / Average Target 15%
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NameTitle
Takeshi Kunibe President, Group CEO & Director
Koichi Miyata Chairman
Jun Ohta Director, Head-Finance & Public relations
Kozo Ogino Director & Head-Audit
Katsunori Tanizaki Director & Head-IT Planning
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