TOKYO, Sep 02, 2009 (AsiaPulse via COMTEX) -- Assets entrusted to investment advisory firms totaled 156.78 trillion yen (US$1.7 trillion) as of June 30, rising 10.3 per cent from the end of March and increasing for the second straight quarter, the Japan Securities Investment Advisers Association reported Tuesday.
The value of such assets shrank sharply in the wake of the financial market confusion following the collapse of U.S. brokerage Lehman Brothers Holdings Inc. But amid a stock market recovery, the figure returned to its late-September level.
Assets under contract with public pension funds and other domestic clients climbed 8.9 per cent, marking the sixth consecutive quarterly uptick, while the tally for overseas clients jumped 11.8 per cent for the fourth successive gain.
As investors sought safety, funds consisting of domestic bonds rose 22 per cent, the highest growth among all investment vehicles.
"Pension funds are increasingly opting to avoid risks," says an association official.
(Nikkei) rw
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