SPAIN - Nomura Asset Management (NAM) has been granted permission to register its global fund range with the Spanish stock exchange commission, the Comisión Nacional del Mercado de Valores (CNMV), Spain’s financial markets supervisory body.

Nomura says the move targets Spain’s pension reform, which obliges pension funds to outsource all their managers from November 2002 and means Nomura can begin distributing and marketing its products to the Spanish market.

Laura Palomino, NAM’s business development manager for Spain and Portugal, comments: “Nomura Asset Management has a business plan for the Spanish market, which targets not only institutional investors but the fund of funds and private banking channels of distribution as well. We also intend to take advantage of the Spanish pension reform, which means all pension funds must be outsourced to external asset managers before November 2002.”