Daiwa Securities, Japan’s second-largest brokerage firm, will offer separately managed accounts beginning in July with the aim of capturing another 30 billion to 50 billion yen, or $270 to $450 million, from high-net worth clients, Reuters reports.

The move makes Daiwa the second Japanese brokerage, following third-ranked Nikko Cordial, to launch an SMA program (see MME May 31, 2004). Nikko launched its service in April in hopes of raking in two trillion yen in the next 10 years.

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