Managers selling funds in Asia solely through distributors will soon face stiff competition as Janus, the fifth largest manager in the US, enters the field this week, aiming at snaring a market share of at least 20% with all the distributors it works with.
At the opening ceremony of its first Asian office in Hong Kong, Janus International's chief executive officer, Richard Garland, stresses the firm will not engage in direct sales in the next few years, choosing instead to focus on building a distribution network across Asia.
In order to help our distributors do their job, we are advertising locally in Hong Kong to build our brand name....
