Japan is witnessing increased demand for discretionary investment asset management services which exceeded ¥8 trillion by June 2018.
Monex-Saison-Vanguard Investment Partners, Inc., a subsidiary of Japanese financial giant, Monex Group has today revealed its plan to launch new discretionary investment asset management service. The new service is named “MSV COMPASS” and is based on the concept of “MSV LIFE “, the company’s online self-directed asset management service. The new service will be launched early spring next year.
The announcement was made on Tuesday, and the company said that the new investment management service will be targeted towards the firm’s wealthy clients and will combine robot and human support. According to the release, MSV COMPASS will be financial institution partners of the company with Akatsuki Securities, Inc. being selected as the first partner to offer the service.
The company, Monex-Saison-Vanguard Investment Partners, said that the conventional method of face-to-face service requires high investment amounts and commissions, and thus users are generally from wealthy class. But, when compared to online self-directed asset management services (robo-advisers) which the company plans to launch next spring, the offering is less expensive and will attract a lot of younger generation whose numbers are increasing.
The minimum investment amount required when investing with MSV COMPASS is ¥100,000 ($884), with accumulation and withdrawals available from ¥10,000. Overall, the company expects the annual costs of assets under management is estimated to be around 1.525 per cent, excluding tax.
For the new service, the company will perform all the aspects of asset management including selection of products and stocks to invest in. The users will able to keep all their investment details updated by checking on operational status, periodic reports, follow-up supports and also allow customisation through a personal “MyPage”.
The statement issued by the company noted:
“Together with financial institution partners, we will keep responding to the diversified asset management needs; from the needs of the customers who invest for the first time to those of the customers who want stable asset management of big money to provide for old age.”
With the launch of new service, The Monex Group is capitalising on increasing demand discretionary investment asset management services in Japan which as of June 2018 has exceeded ¥8 trillion, an increase of 20 per cent year-on-year. This has been one of the driving forces for the company to launch the new service. The ultimate investment target of MSV COMPASS as highlighted by the company is to achieve global diversification investments via exchange-traded funds (ETFs).