Japan Post, a financial institution holding the most assets worldwide has selected Goldman Sachs, Nomura Holdings Inc., and Daiwa Securities Group to run its three new funds, starting in October of this year, Reuters reports.

The three firms were chosen out of 23 finalists to manage a total of $156.4 billion.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.