Japanese get the yen for ethical fundsDecember 2001
More than 150billion yen ($1.2bn) is now invested along socially responsible investment (SRI) lines in Japan.
Latest figures from the Nikko Asset Management group show around 152bn yen was invested in nine SRI funds in Japan at the end of September 2001.
Around 79bn yen of that is invested in Nikko’s Eco Fund, Japan’s first environmental investment fund which was launched in August 1999.
Takejiro Sueyoshi, executive vice president at Nikko, said SRI was slowly gaining ground in the country. ‘The concept has yet to spread widely and we have not kept up with the times,’ he said.
However, Sueyoshi said that eight financial institutions, including Nikko, had recently established a ‘study group of bankers towards a sustainable society’, and a Japanese social investment forum was also planned.
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