Matthews Asia Selected by Nomura Partners Funds, Inc. for Flagship Fund Merger
SAN FRANCISCO, APRIL 01, 2014—Matthews International Capital Management, LLC (“Matthews Asia”) today announced that the Board of Directors of Nomura Partners Funds, Inc. has approved the merger of the Nomura Japan Fund into the Matthews Japan Fund. Regarded as Nomura Partners Funds, Inc.’s flagship fund, the Nomura Japan Fund has been investing in Japanese equities since 1962, and is the oldest open-ended Japanese equity fund incorporated in the U.S. The decision to entrust Mathews Asia with the Nomura Japan Fund shareholders’ assets is in recognition of Matthews Asia’s reputation, depth of expertise and long history of investing in Japan.
Subject to and following the approval of a charter amendment by Nomura Partners Funds, Inc. shareholders, Nomura Partners Funds, Inc. will transfer all of the assets and specified liabilities of the Nomura Japan Fund (NPJAX, NPJCX, NPJIX, SJPNX) to the Matthews Japan Fund (MJFOX, MIJFX). In the interim, the Nomura Japan Fund remains closed to all purchases and exchanges. Shareholder approval is expected later this year, soon after which time Nomura Japan Fund shareholders will become shareholders of the Matthews Japan Fund and the Nomura Japan Fund will be liquidated.
Matthews Asia is a specialist investment manager located in San Francisco. With US$24.9 billion in assets under management as of February 28, 2014, the firm focuses on investing solely in Asia. It currently manages the Matthews Japan Fund, an open-ended Japanese equity fund incorporated in the U.S. With a 15-year track record, it follows a similar investment objective to the Nomura Japan Fund which is to generate long-term capital appreciation through investment of at least 80% of its assets in securities of Japanese issuers. The Nomura Japan Fund had assets of US$169 million and the Matthews Japan Fund had assets of US$451 million as of February 28, 2014.
William Hackett, Chief Executive Officer, commented: “We are delighted to announce the approval by the Board of Directors of Nomura Partners Funds, Inc. to merge the Nomura Japan Fund into the Matthews Japan Fund. As the largest Asia investment specialist in the United States, we are pleased that the Nomura Partners Fund Board has recognized our significant expertise in Asian markets. Since the launch of our first two regional Asia equity strategies, Japan has been a core part of our portfolios and given its importance as an investment destination, a stand-alone Japanese equity fund was launched in 1998. Since its launch, the Matthews Japan Fund has delivered competitive returns and is recognized on the select lists of several key platforms including Schwab, Fidelity and TD Ameritrade. We look forward to welcoming the Nomura Japan Fund shareholders to Matthews Asia and demonstrating both our investment expertise and high-quality shareholder services.”
Robert Horrocks, PhD, Chief Investment Officer, commented: “As the third largest economy in the world, Japan continues to have an important standing within the international market place. As a long-term investor in Japan for over 20 years, we also believe the country still represents an important part of an investor’s portfolio. We look forward to demonstrating the value of our active fundamental investment approach to the shareholders of the Nomura Japan Fund.”
Kanter and Co.
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At Matthews, we believe in the long-term growth of Asia. Since 1991, we have focused our efforts and expertise within the region, investing through a variety of market environments. As an independent, privately owned firm, Matthews is the largest dedicated Asia-only investment specialist in the United States. With US$24.9 billion in assets under management as of February 28, 2014, Matthews employs a bottom-up, fundamental investment philosophy, with a focus on long-term investment performance.
This announcement is for informational purposes only and does not, in any way, constitute investment advice or an offer to sell or a solicitation of an offer to buy any security or product mentioned herein. An investment in the Matthews Asia Funds is not available to investors in any jurisdiction in which such an offer or solicitation is not lawful. No representation is given that shares, products or services mentioned herein are suitable for any particular investor.