Japan Post Insurance buys stake in UK manager Ashmore
Japan Post Insurance agreed to buy a 2.9 percent stake in UK manager Ashmore. The firm will also invest one billion dollars into emerging market funds.
Japan Post Insurance Co., Ltd., headquartered in Japan, has reached a strategic agreement to acquire a minority stake in the United Kingdom-based wealth manager Ashmore Group PLC.
The deal, announced on Tuesday, involves the Japanese insurer taking an equity position of up to 2.9% in the London-listed firm. In addition to the stake acquisition, Japan Post Insurance has committed to investing $1 billion into emerging market funds managed by Ashmore. This move is expected to bolster Ashmore's assets under management while providing the Japanese firm with broader exposure to high-growth developing markets.
