Vanguard, the US mutual fund manager with $565bn (€600bn) under management, has obtained membership of the the Japan Securities Dealers Association and will offer mutual funds in Japan.

Vanguard's new Japanese business, Vanguard Investments Japan, is preparing plans to begin offering mutual funds in Japan on 5 July, 2000. To do this it required a broker-dealer licence from the Kanto Local Finance Bureau and membership of the Japan Securities Dealers Association. It received the first on 28 December, 2000, and the second on 16 January, 2001.