Recognising Investec Asset Management’s long-term track record in managing commodities, Nomura Asset Management, a leading global asset management company in Japan, has appointed Investec Asset Management to manage two resources funds.

The Nomura Commodity Trust, which comprises the Oil Future Fund and Gold Future Fund, has attracted in excess of $100 million. As investment advisers to the funds, Investec Asset Management seeks to broadly capture the trend of the US crude oil future and gold future price respectively.

Investec Asset Management currently manages approximately $55bn globally and about $4bn in commodities and resource related assets.

According to Hendrik du Toit, CEO of Investec Asset Management, the firm has actively been seeking to expand its footprint in Japan. The mandate win from Nomura Asset Management is the group’s third distribution agreement in Japan.

“We are delighted to be partnering with a leading global investment player like Nomura. Commodity-related investing has been one of the corner stones of our business since our inception in 1991 in South Africa, a resources-led economy. Our eighteen-year track record in commodity investing and growing international profile have undoubtedly assisted us in the bidding process. We look forward to a long and successful partnership with Nomura Asset Management,” Du Toit said.

Mr. Kunio Watanbe, Senior Managing Director of Nomura Asset Management, commented: “Given our belief in the importance of investing in commodities as an asset class, we felt that it was necessary to provide our clients with a product that would offer them the exposure. With their proven track record in commodity investing, Investec Asset Management was the obvious choice for us.”