More on Japan PM Kishida's moves to spur competition in asset management industry

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More on Japan PM Kishida's moves to spur competition in asset management industry

The headlines on this were earlier in the week:

• Japan PM to outline plans to allow overseas asset management firms' entry to domestic mkt

• Japan's PM Kishida to allow overseas asset management firms' entry to domestic market

These were a heads up to a speech the Prime Minister was to give in New York. Which he has now done. Our patience paid off any now we have more details (Reuters here for much more):

• Japanese Prime Minister Fumio Kishida aims to spur competition in the country's $5 trillion asset management industry by prompting new market entrants to turn dormant household savings into investments, he told investors in New York.
  
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  The Japanese government is reviving its decades-old policy pledge to move 2,000 trillion yen ($13.48 trillion) of household financial assets into investment, as half of such assets are sitting in cash or bank deposits.
• "We will push hard to encourage sophisticated asset management and to solicit new entrants," Kishida said in a speech at the Economic Club of New York that was also broadcast online.

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: More on Japan PM Kishida's moves to spur competition in asset management industry

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