New York firm GAMCO Investors has partnered with Japan-based DIAM Asset Management to launch a Japanese all cap value fund, The Beikoku Wariyasukabu Fund.

New York firm GAMCO Investors has partnered with Japan-based DIAM Asset Management to launch a Japanese open-ended fund (or investment trust), The Beikoku Wariyasukabu Fund, an all cap value fund.

Having filed its application with The Kanto Finance Bureau the fund will open on 19 March and be distributed by Resona Bank, Saitama Resona Bank, and Kinki Osaka Bank.

GAMCO is the fund’s sub-advisor and will pursue an all cap value mandate based on the firm’s proprietary private market value with a catalyst approach to value investing, a statement said. This is GAMCO’s first sub-advised relationship in Japan, following the launch of its Tokyo office in June 2011.

“We have been investing in the Japanese equity markets for nearly three decades and are excited to launch a US All Cap Value portfolio specifically for the Japanese marketplace,” said Michael Gabelli, chairman and chief of DAMCO’s Japan unit, Gabelli Japan.

The fund will be managed by Kevin Dreyer, Christopher Marangi, Jeffrey Jonas, and Mario Gabelli. More than 30 analysts will support the portfolio managers’ efforts by identifying companies using GAMCO’s private market value with a Catalyst approach - a process based on the value investing principles articulated by Benjamin Graham and David Dodd in 1934.

GAMCO Investors, through its subsidiaries, manages private advisory accounts, mutual funds, closed-end funds, partnerships and offshore funds. As of 31 December last year, the firm had $47 billion in assets under management.

Based in Japan, with presences in Singapore, Hong Kong, London, and New York, DAIM has assets under management of more than $124 billion globally.