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L&G fund arm, Nikko Asset Mgt sign bond fund distribution deal

Reuters - UK Focus

LONDON, May 11 (Reuters) - The fund arm of British insurer Legal & General (LSE: LGEN.L - news) and Japanese investment firm Nikko Asset Management have signed a cooperation agreement for fixed income products, the two firms said on Wednesday.

Under the agreement, Nikko Asset Management will distribute Legal & General Investment Management and Legal & General Investment Management America fixed income products to Japanese investors, mainly insurance companies and banks, the firms said in a statement.

The first funds are expected to launch in mid-2016, the firms added. (Reporting by Carolyn Cohn; editing by Simon Jessop)