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Finance

T. Rowe Price expands services in yield-starved Japan

US asset manager focuses on multi-asset strategies for institutional investors

Institutional investors in Japan hunger for yields because interest rates have remained at ultralow levels. (Photo by Masayuki Terazawa)

NEW YORK -- U.S. asset management company T. Rowe Price will beef up operations in Japan, seeking to meet demand from pension funds, insurers and other investors struggling to find decent yields in a world of low interest rates.

The company will establish a team specializing in multi-asset investing strategies within its Japanese arm and send over staff from its U.S. headquarters this month, including global multi-asset portfolio manager Richard Coghlan. New strategists from Japan will be hired as well.

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