Janus expands Taiwan bank network

Initially selling mutual funds via Citibank, Janus is now working with 30 domestic banks as well.

Janus International, the global division of the $133 billion, Denver, Colorado-based Janus Capital Group, has signed agreements with 30 domestic Taiwanese banks to sell 10 United States-centric mutual funds.

Janus launched its Taiwan presence in September, 2001 via Citibank. Because of the high level of red tape in getting funds approved and launched in Taiwan, and lacking a securities investment consulting enterprise Sice licence, Citibank offered to register Janus' funds under Citi's Sice licence in return for exclusive rights to market Janus funds for one year.

When that expired in late 2002, Janus found local, independent partners to establish a Sice under the Janus name, helping the firm avoid spending on...

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