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Market Chatter: SMFG Targets to Manage 10 Trillion Yen in University Assets

-- Sumitomo Mitsui Financial Group (TYO:8316) or SMFG plans to launch a full-scale asset management service for Japanese universities as investment becomes more crucial for higher education, Nikkei Asia reported on Friday.

Private universities and junior colleges hold an estimated 10 trillion yen or $62.7 billion in assets - mainly in cash equivalents and bonds, the news daily said, citing the Promotion and Mutual Aid Corporation for Private Schools of Japan (PMAC).

While Japan's national universities have become more proactive with their assets, directing more money toward growth-oriented investments, their exposure to stocks and investment trusts remains limited, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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