One of Japan's biggest asset management companies, Nikko Asset Management (Nikko AM) specializes in investment advice, portfolio management, and investment management services. Acting through regional offices in London, New York, Hong Kong, and Singapore, the company offers investors opportunities to invest in Asian stocks, fixed income products and mutual funds, and alternative investment strategies. Nikko AM has some ¥9.5 trillion (approximately $104 billion) in assets under management. Sumitomo Trust and Banking acquired the company from Citigroup for nearly $850 million in cash in 2009.