Vanguard Investments Europe, which has traditionally targeted the institutional investor, is now setting its sights on retail distribution on the continent, initially in Belgium.

The European arm of the Valley Forge, Pa.-based fund giant said it has entered into its first retail distribution agreement with European online broker Cortal Belgium. Retail investors will have access to VanguardÂ’s broadly diversified equity and bond index funds via a risk profiled managed account program called Cortal Avenue. The minimum initial investment is EUR25,000, as opposed to the EUR100,000 required to open an account for an institutional investor.

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