Matthews International Capital has confirmed that Nomura Partners Funds shareholders have approved a charter amendment that will permit the tax-free merger of The Japan Fund into the Matthews Japan Fund.

Matthews International Capital has confirmed that Nomura Partners Funds shareholders have approved a charter amendment that will permit the tax-free merger of the Japan Fund into the Matthews Japan Fund.

The boards of directors of both funds had previously approved the merger. The closing is scheduled for October 20 and the Nomura Japan Fund will be liquidated.

“We are delighted to receive approval by both the Shareholders and the Board of Directors of Nomura Partners Funds which will permit the tax-free merger of the Nomura Japan Fund into the Matthews Japan Fund. We look forward to welcoming the Nomura Japan Fund shareholders to Matthews Asia,” said William Hackett, chief executive officer at Matthews Asia.

The Nomura Japan Fund has been investing in Japanese equities since 1962 it has been the oldest open-ended Japanese equity fund incorporated in the US.

Matthews Asia is a specialist investment manager located in San Francisco with $28.0 billion (£42 billion) in assets under management and focuses on investing solely in Asia.