Amundi Japan Ltd. and Nomura Holdings Inc. plan to introduce a fishery fund next month, betting that changes in dietary habits in emerging nations and consumers’ health concerns will boost global demand for fish.
“Fishery is a growing industry globally, although it’s not recognized as such in Japan,” Naoyuki Hamada, senior executive officer at Amundi Japan, said in a telephone interview today. “Considering the demand for fish, profits of fisheries are not easily influenced by broader economic trends.”
Global fish consumption per person increased to 17.0 kilograms in 2007 from 11.5 kilograms in 1980, according to the United Nation’s Food & Agriculture Organization. Global total production of fish, crustaceans and molluscs reached 140 million tons in 2007, compared with 71.9 million tons in 1980, the FAO said.
The portfolio of the world’s first mutual fund focused on global fishery-related stocks will initially consist of 40 to 70 stocks of companies involved in fishing, aqua-culture, fishing equipment and restaurants, said Hamada. Nomura will start selling the fund on Aug. 9 and Amundi will begin operating it on Aug. 20.
Nippon Suisan Kaisha Ltd. and China Fishery Group Ltd., aqua-farming company Marine Harvest ASA and feed processor Nutreco NV are among companies the fund will consider investing in, Hamada said. Jarden Corp., which sells fishing tools, and Kappa Create Co., a sushi restaurant operator, may also be targets, he said.
Amundi Japan, established after the merger of asset management companies from Credit Agricole S.A. and Societe Generale, manages 3 trillion yen ($34.7 billion) as of July 1. Christian Romeyer, president of Amundi Japan, said yesterday the company aims to boost its assets to $50 billion in three years.