Nikko preps first offshore hedge fund

Nikko Asset Management has entered an alliance with a global hedge fund service provider to launch a new offshore fund of hedge funds. Nikko already provides a range of alternative investments for its Japanese clients, but these are all onshore, yen-based strategies. Now the firm is looking to broaden its horizons and provide Japanese pension funds with a global hedge fund exposure, says Masafumi Hikima, president and CEO at Nikko AM in Tokyo.