Japan’s Prime Minister Wants More Global Money Managers in Tokyo

Japan’s Prime Minister, Fumio Kishida, has introduced measures to attract more asset managers to Japan and rejuvenate the country’s financial sector.

Despite Tokyo’s decline to 21st place in the Global Financial Centres Index, funds under management in Japan have soared by 50% to approximately ¥800 trillion ($5.4 trillion) over the past three years.

The government plans to remove barriers that hinder sophisticated asset management practices and establish designated business zones where English administrative procedures can be conducted to entice US asset management firms.