MITSUI, ALLIANCE IN FUND MANAGEMENT TIE-UP
<Mitsui Investment Management Co Ltd>
(MIMCL) and <Alliance Capital Management International Inc>
(ACMII) will sign an agreement late this month to cooperate in
international fund management, a ACMII spokesman said.
    MIMCL, 55-pct controlled by affiliated companies of Mitsui
Bank Ltd <MIBT.T>, will reconsign some of its foreign
securities investment orders to ACMII, he told Reuters.
    ACMII, the London-based 100 pct-owned subsidiary of
<Alliance Capital Management Corp> of New York, will reconsign
some of its foreign orders to MIMCL and instruct MIMCL in
international fund management techniques, the spokesman said.
    Both firms were among 56 investment advisory companies
granted Japanese government approval for discretionary fund
management on June 10, the Mitsui spokesman said.
    Alliance Capital Management Corp is the world's biggest
firm devoted exclusively to fund management and has 35 billion
dlrs in funds, he said.
    Mitsui Investment Co Ltd, established two years ago,
controls about 800 mln dlrs, 80 pct of which is invested in
Japanese equities.
 REUTER
