iM Global Partner has delegated the management of the Oyster Japan Opportunities fund to Eurizon Capital SGR in a deal that will also see portfolio managers Joël Le Saux and Yoko Otsuka switch firms.
The fund was one of the flagships purchased from SYZ Asset Management by iM Global in May, but the firm said that a "strategic review" has concluded that it was "essential" that Oyster Japanese Opportunities should be managed by its current portfolio managers within "a more powerful structural and operational environment".
Philippe Couvrecelle, iM Global Partner CEO, explained: "When we acquired the Oyster range, the quality of the management of the Japanese equity team made a strong impression on us.
"This partnership with Eurizon, a leading player in asset management, allows us to give new momentum to the international development of this investment strategy."
Launched in 2010, the ¥40bn (£285m) AUM fund targets capital growth via a "style-agnostic and conviction-based portfolio" of 40 to 60 stocks, ranging from mid-cap companies to mega-caps.
Managed by Le Saux since 2013, Oyster Japan Opportunities is down 0.8% and 3.6% over one and three years respectively, according to FE fundinfo, and is up 14.7% over five years. The IA Japan sector has returned 13%, 8.8% and 24.2% over one, three and five years respectively.
In a statement, Eurizon, which is the asset management division of Intesa Sanpaolo Group, said while it is "well known as a centre of excellence in bond markets", it is now "further strengthening and diversifying its expertise in international equity management, developing original and distinctive strategies as well".
Le Saux joined SYZ in 2013 and has covered Japanese equities since 1996, with a career that includes fund management roles at Lazard Gestion and Crédit Suisse Asset Management.
Otsuka joined SYZ 2014, having previously served as a credit analyst at the Bank of Tokyo-Mitsubishi UFJ and a product specialist at Oddo Asset Management.
CEO of Eurizon Saverio Perissinotto said the pair's "extensive experience and deep knowledge of the Japanese market" will be a "boost in further consolidating Eurizon's equity investment capabilities".
He added: "Their arrival further expands the range of worldwide expertise within the Eurizon management team and will also allow us to diversify and expand our product range to the benefit of all our customers."