Fund firms need narrower focus in Asia, says Casey Quirk

Western asset managers often fail to achieve a profitable business in Asia because they spread themselves too thinly, says Daniel Celeghin, head of wealth management strategy for Asia-Pacific at consultancy Casey Quirk. A more measured, targeted regional strategy is called for. By attempting too many initiatives – such as fund launches, institutional business and private banking distribution – across several markets, fund houses make their businesses very costly to maintain, noted…