Nomura Holdings Inc.’s asset management arm released details on Tuesday about 30 of its publicly offered investment trusts that hold either stocks or bonds of Adani companies. The move followed similar steps last week by units of Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc.
February 08, 2023 / 11:59 AM IST
Adani Group
The turmoil in Gautam Adani’s empire is spilling over to Japan, where major asset managers are stepping up disclosure over mutual funds with exposure to the group in response to jittery investors.
Nomura Holdings Inc.’s asset management arm released details on Tuesday about 30 of its publicly offered investment trusts that hold either stocks or bonds of Adani companies. The move followed similar steps last week by units of Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc.
“We have judged it necessary to provide information this time because volatility in the share and bond prices of the Adani group hasn’t fallen,” Nomura Asset Management Co. said in an emailed response to Bloomberg queries.
A rout sparked by market manipulation claims wiped out more than $ 100 billion of the Adani group’s value before a rally in stock prices Tuesday. Concerns had grown over the conglomerate’s access to funding since US-based Hindenburg Research released a report in late January alleging market rigging and accounting fraud — claims Adani has repeatedly denied.
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