Original title: ‘Nikko’ Cut From New Name of $260 Billion Japan Fund Manager
Nikko Asset Management Co. is changing its name to Amova Asset Management Co., removing “Nikko” for the first time since it was founded in 1959 in a sign the company is willing to leave familiar ground to expand globally. The new name of the Sumitomo Mitsui Trust Group unit mashes together the words “asset management,” “move” and “nova,” Latin for “new”. The company operated in 13 countries and regions at the end of June and oversaw $260.3 billion in assets.