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Nomura soft closes to European clients

UK - Nomura Asset Management UK (NAM) has closed to new business in Far East equities for the rest of the year, after taking in assets worth 1.1 billion dollars already in 2004.

NAM UK will focus on servicing new and existing clients, including the 11 mandates it has won in the last twelve months.

The soft close applies to segregated Japanese equity and Pacific Basin equity mandates for clients in the regions of Europe, the Middle East and Africa. NAM expects to reopen its doors in January to new business.

The asset manager has hired David da Silva from Morley Fund Management as deputy head of client service to strengthen its resources.

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