| The newly established regulatory framework introduced by the
Act effective from September 30, 2007, has enabled asset management
firms to provide wider and more diversified services. This is because
the Act has created the categories of the Investment Management
Business and the Investment Advisory & Agency Business. Those
firms which seek to engage in any of these businesses are required
to register as a financial instruments firm under the Act.
Members of JIAA consist of 344 Investment Management Members
which provide Discretionary Investment Management Service to their
client under a discretionary investment management contract and/or
which provide investment management service to pooled fund assets
as of March 31, 2022. There are also 484 Investment Advisory Members
who only provide an investment advisory or agency service.
The amount of assets managed by Investment Management Members
has reached more than 530 trillion yen as of March 31, 2022. Members
are playing important roles as key companies in the asset management
business.
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