Overview
The Government of Japan has published "Policy Plan for Promoting Japan as a Leading Asset Management Center" on December 13th, 2023.
As a part of the plan for reforming Japan’s asset management sector, the government has developed the program to support new entrants (Japanese EMP) for facilitating entrustment to emerging asset managers through joint public-private initiatives.
The government and the FSA are taking the following policy measures as below for this program.
Policy Measures
1. The FSA publishes the examples of initiatives taken by financial institutions related to emerging managers.
- The list of EMP initiatives by financial institutions (Available in Japanese)
2. The Investment Trusts Association, Japan, and The Japan Investment Advisers Association publishes a list of emerging asset managers (entry list).
- The publication of EMP Entry list by the Investment Trusts Association, Japan, and The Japan Investment Advisers Association (Available in Japanese)
3. To promote new entry of firms into the asset management sector, the government will deregulate to allow asset managers outsource middle- and back-office operations and entrusting all asset management mandates to a business entity whose quality of services has been appropriately secured (Effective May 2025).
Overview of deregulation for promoting new entries of asset management companies (Available in Japanese)
4. It is written in the asset owner principles (proposal), “it is important not to exclude emerging managers simply because they have only a few years of experience.”
- Asset owner principles
(Cabinet Secretariat website) (Available in Japanese, English version will be published by the end of June 2024.)
5. The discussion related to emerging managers will be held at the launch event of Asset Management Forum in Japan Weeks in autumn 2024.
- Asset Management Forum (External website)
