Janus, the US investment management house, has announced the approval by Taiwan's Securities and Futures Commission of an expanded range of nine sub-funds for local distribution in Taiwan.

The approval marks the expansion of Janus' Taiwan activities through developing local relationships with more than 40 Taiwanese banks, representing more than 2,800 branches. Janus entered the Taiwanese market in September 2001, distributing its seven sub-funds through Citicorp, the global financial services firm.

Effective immediately, Taiwanese banks now have access to nine Janus funds. The nine mutual funds will include a range of Janus equity and fixed-income products designed to meet the different needs and risk tolerance levels of Taiwanese investors. The two additional funds include one investing primarily in global life sciences companies and one investing primarily in small US companies.

"We see great potential for our business in Taiwan, which is already one of Janus' largest and fastest-growing offshore markets," says Janus International CEO Richard Garland.

Janus currently manages over half a billion US dollars sourced from Taiwan, a 50% growth from last year. In Asia ex-Japan Janus has seen asset growth of 100% over the past year. It is looking have its funds authorised for distribution in Korea in the near future.