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US fund to pull small Japanese firms into ESG era

Neuberger Berman sees room for returns by bolstering governance

Small Japanese companies have a reputation for governance issues, such as lack of transparency beyond financial disclosures.   © Reuters

TOKYO -- U.S. investment manager Neuberger Berman will create a fund that advocates for governance and sustainability reforms at small and midsized Japanese companies.

Neuberger chiefly will seek enterprises valued at less than 500 billion yen ($4.57 billion). The fund will select 20 to 30 targets pending bottom-up due diligence. The new investment vehicle aims to draw capital from global pension funds.

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