Nikko AM, LGIM agree tie-up amid rise in cross-border deals

Japan's Nikko Asset Management and UK-based Legal & General Investment Management (LGIM) have struck a deal to cooperate on providing products and services, reflecting a growing trend for such cross-border tie-ups. More of these types of deals are expected, particularly as Asian asset managers look to the US market for distribution reach and product capability, said Justin Ong, asset and wealth management industry leader for Asia-Pacific at PwC. The Nikko-LGIM agreement fol…