(Bloomberg) -- Japanese brokerages are gearing up to offer more alternative assets to the nation’s wealthy, who are increasing in numbers even as the overall population falls.Most Read from BloombergVegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the MakingF-35 Debris Found After a $100 Million Fighter Jet Went MissingTrudeau’s Murder Claim Risks Upending US Courtship of IndiaIndia, Canada Trade Diplomatic Blows Over Murder AllegationsMizuho Securities Co. expects more sales this fisc
Mizuho Securities Co. expects more sales this fiscal year after selling about 15 billion yen of funds focused on private assets in the year ended March 31, in its first 12-month period of making those offerings to wealthy individuals, according to Miho Migita, head of private placement fund development division.
UBS SuMi Trust Wealth Management Co., meanwhile, said it has seen private assets that it oversees more than double over the past three years in Japan, without specifying the amount. It started selling private credit products targeting its high-net-worth clients last year. “As listed securities face market volatility, it’s getting difficult to effectively diversify portfolios with listed assets, and more and more customers are looking for something different,” said Kaoru Fujita, managing director of private wealth solutions at Blackstone Inc. in Japan.
If they shift to riskier investments, that may result in a jump in flows from Japan. Investors there have tended to be more financially conservative than their global peers, holding more than 50% of their assets in cash or bank deposits, according to Bank of Japan data. That’s a much higher ratio than in the US or Europe.Private assets carry the risk that because they are less liquid than publicly traded securities, they will likely be harder to unload if market sentiment takes a dive.
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