13 Oct 2010

NZ fund set up for Japanese investors

3:26 pm on 13 October 2010

A wealth management firm is setting up a fund allowing Japanese investors to invest in New Zealand companies and bonds.

Bancorp's Japan New Zealand Fund aims to grow to $300 million within two years.

The fund is a joint partnership with Japanese institution Bansei Asset management.

It will invest in Japanese Yen bonds and listed companies, as well as New Zealand listed companies, bonds and private equity.

Bancorp managing director Craig Brownie says the fund is the first of its kind and 80% will be sold to retail investors.