Have any foreign asset managers launched successful products in Japan? In this snapshot series, we profile three toshin fund successes. The first one is "Pictet Global Income Equity Fund - Monthly Dividend".
This article is based on reporting in Ma-Do magazine, a Soken publication in Japan.
1. Pictet Global Income Equity Fund – Monthly Dividend
From its creation in 2005, the Pictet Global Income Equity Fund-Monthly Dividend, or Glo-In as it is popularly known, brought about a change in the toshin funds market. (Toshin funds are roughly similar to U.S. mutual funds.) The publicly-offered toshin is a core product of Pictet Asset Management in Japan. The fund's assets under management (AUM) reached nearly three trillion yen in 2007. For most toshin, AUM tend to peak early on and then slowly decline. Glo-In defied the trend. After a decline in AUM below 500 billion yen during the financial crisis of 2008, Glo-In began to rebound in 2013, culminating in AUM of 920 billion yen in 2014. As of mid-November 2018, AUM hovered around 583 billion yen.