SBI Holdings (TYO:8473) will partner with U.S.-based AllianceBernstein to launch Japan's first asset manager focused on active ETFs, Nikkei reported Friday.
The 51-49 joint venture plans to list its first product on the Tokyo Stock Exchange next spring - a U.S.-developed ETF investing in high-dividend tech, energy and health care stocks, followed by a Japan equity fund next summer. The venture targets 1 trillion yen in assets within three years, far above the current 85 billion yen active ETF market, according to the report.
SBI will sell the products through SBI Securities' 15 million accounts and aims to broaden its asset-management business as group AUM rises toward a 20 trillion yen goal by March 2028, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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