Chuo Mitsui Asset Trust and Banking Company, a subsidiary of Chuo Mitsui Trust Holdings, and Standard Life Investments have entered into a strategic alliance for reciprocal asset management services.

The alliance will see Chuo Mitsui manage and advise on around $1bn of SLI’s Japanese equity funds and SLI advise on around $1.2bn of Chuo Mitsui’s global equity funds.

This alliance will give Chuo Mitsui enhanced access to the UK, Europe and other overseas markets for its Japanese fund management capabilities. At the same time SLI will access the Japanese market with its global equity portfolio management services.

Chuo Mitsui and SLI will also be able to market each others investment strategies through their respective distribution networks. In addition, Chuo Mitsui and SLI may also consider collaborating in marketing and product developments of new asset management products.

Commenting on the alliance, Tadashi Kawai, Chairman, Chuo Mitsui said: “This strategic alliance with Standard Life Investments is an important step for us in developing an internationally focused asset management business. Standard Life will benefit from our on-the-ground local knowledge and award winning investment expertise in Japan.

“Chuo Mitsui and Standard Life Investments have many similarities in their practices and procedures and share a deep rooted commitment to providing clients with strong sources of alpha and the highest levels of customer service.

“The strategic alliance represents a huge opportunity for our respective companies and will help ensure that our clients have ready access to top fund managers and leading asset management strategies.”