NIKKO Asset Management has acquired Asia Pacific investment manager Treasury Asia Asset Management Ltd (TAAM) for an undisclosed sum.

TAAM was co-founded by Peter Sartori in 2005 to invest in Asia Pacific ex-Japan equities. It manages around US$300 million for institutional clients.

Nikko AM president and chief executive Charles Beazley said TAAM's investment approach and strength among an institutional client base are a strong fit with Nikko, which remains keen to expand further. "Singapore is our most important hub. We're going to be adding more (capabilities), we haven't stopped. This is a very good acquisition. It strengthens our capabilities but we're looking for more investment capabilities and managers.''