The Money Management Institute could be renamed "Money Management International," now that Nikko Cordial Advisors of Japan has become the trade organization's first overseas member.
Nikko is determined to increase the popularity of separately managed accounts (SMAs) in Japan. In fact, the company expects that within 10 years, the Japanese SMA industry will have $20 billion of assets under management.
"We are looking forward to coordinating with MMI in order to expand separately managed accounts in Japan," said Yoshishige Saigusa, the CEO of Nikko, who said his company's goal is to take 10% of the SMA market share. Chris Davis, MMI's executive director, said that other Canadian, European and Asian companies had expressed interest in joining the organization.
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