Nikko explains its new name

The change will take place on September 1, next year.

Amova Asset Management is an amalgam of the concepts behind the brand, the company says. The first two letters, Am, standing for the firm’s core business, asset management.

Mov refers to movement – "the nimbleness and innovation to steer clients towards their objectives in the constantly changing investment landscape by offering superior investment solutions."

Ova draws inspiration from Nova which means new in Latin. The company describes it thus: "as global teams explore new frontiers and provide progressive solutions to stay ahead in the rapidly evolving financial environment."

The renaming does not impact ownership - the firm remains a wholly owned subsidiary of Sumitomo Mitsui Trust Group, and remains committed to helping investors around the world reach their investment goals.