Aizawa Securities buys a stake in ProfitFundCom AG
Aizawa Securities Co Ltd, one of Japan's leading securities houses, has bought a minority stake in offshore fund management firm ProfitFundCom AG.
As part of the deal, Shuzo Yoshida, the president of Aizawa Securities, will join the board of directors of Liechtenstein-based ProfitFundCom AG. In addition to becoming a shareholder in the company, Aizawa Securities will also distribute ProfitFundCom's offshore funds in Japan.
"We are very pleased to have Aizawa Securities as a strategic partner," says Richard A Werner, founder and chief investment advisor of ProfitFundCom AG. "Together we will grow assets and continue to build ProfitFundCom into a business that will deliver good returns for our investors.
"We also think that Mr Yoshida is a valuable addition to our board. His vast experience in the securities business in Japan will be a good complement to our team's current expertise. Japan has always been important to us as we have many of our investors here. Between Aizawa and our existing Tokyo office we will be able to serve current and new investors well."
Background Notes: Aizawa Securities Co Ltd was founded in 1918 by Yahachi Aizawa as Minatoya Shoten Ltd and reorganised as Aizawa Shoten Co Ltd in 1933. Aizawa became the chairman of the Tokyo Securities Exchange in 1957. The company acquired other locally based companies through mergers and acquisitions from 1945 through 1965, grew and solidified its position through the ensuing decades and, in 2002, merged with Hiraoka Securities Co Ltd, an Osaka-area pioneer in Asian stock brokerage business.
ProfitFundCom AG is a fund management firm based in the Principality of Liechtenstein with offices in Europe and Japan. ProfitFundCom AG manages a global macro fund - which has outperformed the CSFB Tremont Global Macro Index for over two years - and a Japan/Asia Equity Fund, also outperforming its benchmark in 2004.
- By Category
- News from other sites
- Special Reports