Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co. said Wednesday they will jointly sell a new investment trust to be established by Partners Asset Management Co., an affiliate of Sanwa Bank.
The three banks will market the Fund of All Star Funds at all their outlets between Sept. 1 and Sept. 27. With the minimum subscription set at 10,000 yen, the banks expect to lure 100 billion yen.
Partners will divide investors' money to five smaller funds to cut risks.
Sanwa, Tokai and Toyo decided on the joint undertaking to strengthen ties before they integrate their operations in April.