Japan’s biggest bank is planning to plow about ¥1 trillion into a new investment team that will look to buy credit, equities and alternative assets in a bid to lift investment returns.
Mitsubishi UFJ Financial Group Inc. expects to begin buying the assets in the second half of this year that will likely focus on U.S. securities, said the group’s head, Yoshiaki Nemoto. His team will manage a new investment account, separate from the bank’s conventional securities portfolio, and will aim to grow assets to about ¥1 trillion within three years, he said.
"We need to consider ways to boost returns,” Nemoto said in an interview, as low global interest rates endure at the same time as a hefty surplus of bank deposits.