Financial Services Industry
Industry: Email Alert RSS FeedMutual funds in Japan on the verge of a boom; U.S. firms find distributor relationships, retail market are key.(News)
Investment News, October, 2006
Byline: Mark Bruno
TOKYO - To understand the future of the money management industry in Japan, consider Kin-san and Gin-san - twin sisters who became almost instant pop stars when they reached the age of 100 in 1992.
For their accomplishment, Kin-san and Gin-san - Silver and Gold - starred in commercials, peppered television newscasts and became the subject of numerous newspaper and magazine articles.
After a combined 200 years of living, the duo also became almost instantly wealthy.
"At some point, they were asked how they planned to spend all of their money, given their new wealth,'' said Hiroyuki Arita, president of BlackRock Japan Co. Ltd. in Tokyo. "They said they were finally going to start planning for retirement.''...
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