UNIVERSAL
INVESTMENT FUND ANNOUNCES CHANGE IN INVESTMENT MANAGER AND CHANGE OF
SUB-INVESTMENT MANAGER TO INVESTMENT ADVISOR
1
April 2013
UNIVERSAL
INVESTMENT FUND (the “Trust”)
Change
in Investment Manager and change of Sub-Investment Manager to Investment Advisor
in respect of the Strategic Asia Fund and the Asia Premier Fund (together, the
“Sub-Funds” and each a “Sub-Fund”)
State
Street Cayman Trust Company, Ltd. (the “Trustee”) wishes to announce that
pursuant to an Investment Management Agreement effective as of 1 April 2013 and
made between the Trustee and Nissay Asset Management Corporation the latter has
been appointed as investment manager (the “Investment Manager”) with
responsibility for the overall investment strategy of the Sub-Fund. The
Investment Manager was incorporated in Japan on July 1985. Its authorised and
issued share capital is US$411 million of which US$111 million is fully paid up.
As
at March 2012 the Investment Manager has assets to the value of $56.7 billion
under discretionary management.
The directors of the Investment Manager are as
follows:
Kiyoshi Ujihara
Mr. Ujihara has been President and Chief Executive Officer with
Nissay Asset Management Corporation since 2012. Before becoming President and Chief
Executive Officer, Mr. Ujihara held a number of positions including Managing
Director and General Manager of International Planning & Operations
Department, Senior Managing Director and General Manager of Head Office
Corporate Marketing Department, Director and Executive Vice President and Deputy
Chief of Corporate Marketing Planning Department, Director and Executive Vice
President and General Manager of Head Office 1st Corporate Marketing
Headquarters / GM of Head Office 3rd Corporate Marketing Department of Nippon
Life Insurance Company.
Yoshiaki Hirayama
Mr. Hirayama has been an Executive Director, Member of the Board, and
Chief Investment Officer with Nissay Asset Management Corporation since 2012.
Before becoming Chief Investment Officer, Mr. Hirayama held a number of
positions including, Deputy General Manager of Separate Account Investment
Department of Nippon Life Insurance Company, Executive Vice President (Head of
Equity Investment Dept.) of NLI International Inc( a wholly subsidiary of Nippon
Life Insurance Company in New York), and Chief Investment Officer and President
of NLI International Inc.
Shinji Kuge
Mr. Kuge has been an Executive Officer, Member of the Board, General
Manager & Head of Corporate Planning and Administration Department since
2012. Before becoming an Executive Officer, Member of the Board, General Manager
& Head of Corporate Planning and Administration Department, Mr. Kuge held a
number of positions including, Chief Manager of Investment Risk Management
Office, Chief Manager of Credit and Alternative Investment Department and
General Manager of Investment Risk Management Office in Nippon Life Insurance
Company.
The
appointment of Nissay Schroders Asset Management Asia Limited as sub-investment
manager for the Strategic Asia Fund and the Asia Premier Fund was terminated by
agreements between the Investment Manager and Nissay Schroders Asset Management
Asia Limited with an effective date of 31 March 2013.
The Investment Manager has appointed Nippon Life Global Investors Singapore Limited (formerly Nissay
Schroders Asset Management Asia Limited) (the “Investment Advisor”) to act as the investment advisor to the Investment Manager for the
Sub-Fund. The Investment Advisor
will provide the Investment Manager with continuing investment advice to assist
in the implementation by the Investment Manager of the investment objectives and
investment policies of the Sub-Funds.
The Investment Advisor is a company incorporated in Singapore whose
registered office is at 65 Chulia Street #46-00, OCBC Centre, Singapore
049513 and whose company registration Number is 200517207N. The Investment
Advisor’s authorized and issued share capital is S$1,000,000. As at 31 January
2013, the Investment Advisor had assets around the value of US$677,000,000 under
discretionary management.
The Investment Advisor was incorporated in December 2005 (previously
known as Nissay Deutsche Asset Management Asia Limited) to carry out investment
management activities as a joint venture between Nippon Life Insurance Company
and Deutsche Asset Management Asia Limited. The Investment Advisor lodged as an
Exempt Fund Manager with the Monetary Authority of Singapore in 2009. On 30
September 2009, Schroders Investment Management Singapore Ltd (SIMSL) entered
into a joint venture with Nippon Life Insurance Company to buy over the 33.3%
stake owned by Deutsche Asset Management Asia Limited.
The directors of the Investment Advisor are as follows:
Yoshiaki Hirayama
Mr. Hirayama has been an Executive Director, Member of the Board, and
Chief Investment Officer with Nissay Asset Management Corporation since 2012.
Before becoming Chief Investment Officer, Mr. Hirayama held a number of
positions including, Deputy General Manager of Separate Account Investment
Department of Nippon Life Insurance Company, Executive Vice President (Head of
Equity Investment Dept.) of NLI International Inc( a wholly subsidiary of Nippon
Life Insurance Company in New York), and Chief Investment Officer and President
of NLI International Inc.
Hiroyuki Nishi
Mr. Nishi has been a director of Nippon Life Global Investors
Singapore Limited since April 2013. Also, Mr. Nishi has been a Director and
General Manager of International Planning & Operations Department in Nippon
Life Insurance Company. Before that, Mr. Nishi held a number of positions including Chief
Representative of London Representative Office, Director and General Manager for
Europe, Director and General Manager for the Americas & Europe, Chief
Representative of New York Representative Office in Nippon Life Insurance
Company.
Shinya Tsujimoto
Mr. Tsujimoto has been a director of Nippon Life Global Investors Singapore
Limited since April 2013. Mr.
Tsujimoto has been a Chief Operating Officer & Fund Manager at Nissay
Schroders Asset Management Asia Limited dispatched by Nissay Asset Management
Corporation. Mr. Tsujimoto was previously Head of Research, RCM ASIA PACIFIC (Hong Kong) and
General Manager of the research department at Meiji Dresdner Asset Management in
Japan and an analyst at Tokio Marine Asset Management (Japan).
Minoru Kimura
Mr. Kimura has been a director of Nippon Life Global Investors
Singapore Limited since April 2013. Also Mr. Kimura has been a General Manager
of Investment Planning Department & Institutional Business Planning
Department in Nissay Asset Management Corporation. Before that Mr. Kimura has been a Chief Executive Officer in Nissay Deutsche
Asset Management Europe Limited, Chief Executive Officer in NLI Investments
Europe Limited, Deputy General Manager, and Head of Public Communications Office
& Head of Corporate Planning Office in Nissay Asset Management
Corporation.
Lester Gray
Mr Gray has been Chairman for the Asia Pacific with Schroder
Investment Management since October 2012. Mr Gray previously worked as Chief
Operations Officer and then as Chief Executive Officer for the Asia Pacific
region at Schroder Investment Management before becoming Chairman for the Asia
Pacific.
Ken Yajima
Mr Yajima has been Head of Institutional Sales with Schroder
Investment Management (Japan) Ltd. since June 2012. Mr Yajima previously worked as Head of Business Initiatives Management with
J.P. Morgan Trust Bank Ltd. Mr
Yajima then worked as Head of Institutional Sales and Client Services, Head
of Institutional Fund Sales and then as Head of Product and Sales Support with
Schroder Investment Management (Japan) Ltd. before becoming Head of
Institutional Sales. |