John Hancock Funds of Boston announced that it has formed a joint venture with Indocam Asset Management of Paris that will develop and distribute investment management products for the Japanese domestic market.
Hancock has taken a 25 percent stake in Indocam Japan Ltd. of Tokyo, Hancock said in a statement. Indocam Asset Management holds the remaining 75 percent stake in the 13-year-old company, said Susan Bishop, a spokesperson for Hancock. Hancock declined to provide details about the financial arrangements between the two firms.
Hancock is providing investment management, marketing and distribution expertise as part of the joint venture, Bishop said. Indocam Japan expects to offer two new investment trusts for Japanese investors by Dec. 31, she said. Indocam Japan marks John Hancock Funds' first venture in Japan, Bishop
said. Hancock and Indocam Asset Management have worked together since 1993, when Indocam became the sub-adviser for the John Hancock Pacific Basin Equities Fund.