Carmignac Gestion has signed a deal with one of Japan’s biggest banks to distribute its €24 billion Patrimoine fund among the country's investors, Citywire Global can exclusively reveal.
The deal was finalised and signed in Tokyo by the firm's director of risk management and global fund manager Frédéric Leroux near the end of October, Citywire Global has learned.
The firm would not be drawn on revealing the name of the bank but revealed it is one of the country's biggest.
Within its portfolios, Leroux said they had turned their attention to Japan as soon as its general elections were announced near the end of 2012.
The election was won by Shinzo Abe, with the Prime Minister's subsequent Abenomics stimulus programme having kick-started heightened interest in Japan's prospects.
At the firm's latest quarterly update in October, Leroux said that they had strengthened their exposure to the 'Japanese reflation' theme in its Patrimoine and Carmignac Investissement funds, adding that there had been confirmation of its first positive effects on growth and prices.