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Nomura North Asia CIO Julia Wang says the Chinese yuan is likely to see only gradual near-term appreciation. She also says greater flexibility is more important than currency strength for any attempts to internationalize the RMB, and that the key thing to watch for at the upcoming Two Sessions is China's fiscal policy plans.

For 4Q2025, Nomura Value Fund institutional Class shares modestly trailed its benchmark, the Russell 1000® Value Index. In October, we sold our position in Kenvue Inc. (KVUE), a consumer health company with globally recognizable brands such as Band-Aid, Listerine, Neutrogena, Tylenol, and Johnson's baby products. Approximately two-thirds of Zoetis's revenue is generated by products for companion animals while the…

For 4Q25, Nomura Small Cap Value Fund Institutional class shares slightly lagged the return of its benchmark, the Russell 2000 Value Index. Stock selection and an underweight allocation to the healthcare sector were the most notable detractors from the Fund's performance for the quarter. Shares of Herc outperformed during the quarter when the company reported earnings that were better than analysts' expectations.

For 4Q25, Nomura Science and Technology Fund Institutional Class shares had a positive absolute return, but it underperformed S&P North American Technology Sector Index. During the quarter, the underweight to software and services along with an overweight to hardware, semiconductor, and semi cap equipment contributed most. On an individual stock basis, holdings in Seagate Technology, Micron Technology, and an…

Investors interested in Financial - Investment Bank stocks are likely familiar with Nomura Holdings (NMR) and MarketAxess (MKTX). But which of these two stocks presents investors with the better value opportunity right now?