Sumitomo Mitsui Trust Holdings Inc. established a new subsidiary that will provide analytical services for mutual funds and insurance products.
The company said Dec. 12 that it established Mutual Fund & Insurance Research Institute to provide clients with analytical information and consultation services for mutual funds and insurance products.
The new unit has a capital of ¥150 million and was established Dec. 1. M&I Research Institute plans to start operations in April 2018, subject to regulatory approval.
As of Dec. 12, US$1 was equivalent to ¥113.68.
