Nikko AM revamps retail offering with sales hire

According to a statement, Thira Ngoeun has joined Nikko AM Australia as a regional sales manager for NSW and Queensland.

Mr Ngoeun was previously vice-president – research relationship manager at BlackRock and, prior to that, worked at AMP Financial Services as a model portfolio manager and senior research analyst, the statement said.

The move is part of Nikko AM’s continued focus on rebuilding its distribution network and enhancing its offering in the retail space.

Nikko AM Australia managing director Sam Hallinan said: “We are pleased to welcome Thira to the team and believe that his addition will further strengthen our relationships in New South Wales and Queensland as part of our commitment to comprehensively service the needs of financial advisers.”

As part of revamping its retail offering, Nikko AM has reviewed its range of retail funds and reduced the management fee for the Nikko AM-Tyndall Australian Share Income Fund from 0.95 per cent per annum to 0.85 per cent per annum, the statement said.

Nikko AM has also said it will improve accessibility for investors by reducing the minimum initial investment amount for its flagship retail funds to $20,000.

“In the Australian market, it is important to continually review pricing models and access points for clients,” Mr Hallinan said.

“In our view, fund managers need to constantly evolve their model in response to the changing dynamics of our vibrant industry, and these changes represent another step forward for us as a firm.”