In recent years, the Japanese government has announced economic growth strategies along with a series of measures, and has called for the need to diversify the asset management industry of Japan. Together with the Tokyo Metropolitan Government, industry associations and key industry players, JIAM was established to bolster the asset management industry and transform Tokyo into a global financial center.
Facing a rapidly aging population, the need for investment diversification of, and a seamless investment value chain for household assets (which amount to USD 17 trillion) have become paramount and critical for Japan.
JIAM’s objective is to develop the Tokyo asset management community, attract investment professionals and to nurture investment capabilities.
With the goal of promoting Tokyo as a leading global financial center, industry associations and key industry players, supported by the national government and Tokyo Metropolitan Government, jointly created the “Council for Tokyo Global Financial Center Promotional Activities” and the “Working Group on Asset Management”. Forum participants agreed on the need to create a world-class asset management hub in Tokyo, and to develop the Japanese asset management industry, and measures required to attract asset managers from both inside and outside of Japan were set forth. JIAM was founded as a platform for the government and the private sector to work together to achieve these goals.
Prior to the establishment of JIAM, under its “Japan Revitalization Strategy 2016” (dated 3rd June 2016), the government called for “the diversification of investment managers including independent fund managers, and the creation of an environment by the public and private sectors, conducive to talented fund managers and finance professionals both from within Japan and abroad” and “the reinforcement of support measures, and effective use of the special zones within Tokyo and across Japan, and to showcase the Tokyo Financial Street along the Eitai-dori extending from Otemachi to the Kabuto-cho district as an area integrated with sophisticated international financial talent by 2020”.
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