Nomura buys a robo-adviser

By Daniel Lanyon on 3rd April 2018

The asset management giant has invested in the Hong-Kong based 8 Securities.

Nomura buys a robo-adviser

Nomura Asset Management has invested into fintech 8 Securities and its Hong Kong headquartered parent company 8 Limited as it looks to enter the fast growing robo advice market.

Nomura Asset Management (NAM) says it plans to invest approximately ¥1.6bn (£10.7m) in 8 Securities and will hold a majority of the outstanding shares.

The investment in 8 Limited will be approximately ¥1.1bn (£7.3m), and NAM will become a minority shareholder.

Based in Japan, 8 Securities provides discretionary robo-advisory services through iOS and Android mobile apps using exchange-traded funds (ETFs). 8 Limited also provides mobile app robo-advisory and online brokerage services in Hong Kong.

The investment in the 8 Group, NAM says, will help it “to leverage the functions of the 8 Securities platform to deliver high value-added services to its clients,” the firm said in a statement. 

NAM also aims to provide these services to other financial institutions, it adds.

8 Securities is preparing to offer NAM index funds and the two firms are developing a new app.

Japanese households have traditionally held high cash levels while eschewing holdings in the stocks and other risk assets although recent data suggest this trend to be reversing.

Comments

AltFi Berlin Summit 2019

AltFi is coming to Berlin this Winter for our first annual Summit in the City.

18th November 2019