Manager search activity falls 70% in Asia

Asian institutional investors completed 70% fewer asset manager searches via consultancy Mercer last year than in 2011, resulting in a drop in total value to $2 billion from $5.9 billion. This represents the lowest annual search activity in the region for over a decade, by both number and value. The Asia figures bucked the global trend, with 776 searches completed worldwide in 2012, up from 742 the previous year. Total value fell, however, to $53 billion from $78.2 billion. The mo…