The investment industry in Asia is undergoing big changes as regulators move to strengthen their domestic markets through fund passporting and tighter onshore rules for foreign players. Meanwhile, the region’s investors are increasingly allocating to offshore assets. Opportunities may be growing for international fund firms, but so are costs and competition.

Against this backdrop, assets sourced from Asia Pacific grew last year at a slower pace than in 2013, according to AsianInvestor’s annual survey of fund houses. The top 100 by Asia-Pacific AUM ran $39.8 trillion as at September last year, up 6.1% year-on-year.

Global firms’ share of Asia-Pacific assets rose at about the same pace as the previous year (6.81%), but managers in Asia (excluding Australia and Japan) saw their AUM increase by 13.34%, a two-percentage-point rise on 2013. But Australian and Japanese firms recorded minor declines in assets.

Accordingly, the likes of UK-based Baring Asset Management, Australia's Perennial Investment Partners, Swiss firm Pictet Asset Management and GAM slipped down the list. Meanwhile, home-grown Asian players – notably Chinese, Indian and Thai firms – posted impressive gains.

We will publish further sections of the findings over the coming weeks. An extended feature and more details on the findings will appear in the upcoming (February) issue of AsianInvestor magazine.

The top 100 fund houses by AUM from Asia Pacific: numbers 76-100
2014 2013 Company name Geography AP
2014
$bn
AP
2013
$bn
%
change
Global
2014
Global
2013
76 90 Reliance Mutual Fund Asia-based 19.9 14.9 33.81% 19.9 14.9
77 75 Woori Asset Management Asia-based 19.5 18.9 3.34% 19.5 18.9
78 83 Legg Mason Am (ex-Western) Global firm 19.1 17.1 11.45% 246.3 213.3
79 78 Public Mutual Asia-based 19.0 18.0 5.56% 19.0 18.3
80 81 T. Rowe Price Asset Management Global firm 18.9 17.4 8.62% 731.2 647.2
81 74 Baring Asset Management Global firm 18.7 20.1 -7.06% 47.1 60.2
82 79 Janus Capital Global firm 18.4* 17.7 3.79% 174.4 166.7
83 88 Krung Thai Asset Management Asia-based 18.4 15.0 22.53% 18.4 15.0
84 86 Tong Yang Asset Management Asia-based 17.3* 15.3 13.34% 17.3* 15.3
85 95 Capital Group International Global firm 17.0 14.0 21.43% 1382.0 1265.0
86 - Bank of China Investment Management Asia-based 16.9 12.0 41.35% 16.9 12.0
87 72 T&D Asset Management Japan-based 16.9 21.2 -20.27% 16.9 21.2
88 85 China Universal Asset Managemet Asia-based 16.7 13.1 27.50% 16.7 13.1
89 82 Perennial Investment Partners Australia-based 16.2 16.2 -0.06% 16.2 16.2
90 77 Pictet Asset Management Global firm 15.9* 18.6 -14.86% 150.2 149.4
91 91 Threadneedle Global firm 15.8* 14.6 8.37% 150.1 137.4
92 96 Reliance Capital AM (ex Reliance Mutual Fund) Asia-based 15.5 13.2 17.61% 15.5 13.2
93 107 SBI Mutual Fund Asia-based 15.1 10.9 39.05% 15.5 11.1
94 104 Birla Sun Life Mutual Fund Asia-based 15.0 11.3 32.22% 15.0 11.3
95 101 RHB Investment Management Asia-based 14.4 11.5 25.22% 14.4 11.5
96 92 GAM Global firm 14.2* 14.0 1.64% 134.9 131.7
97 - China Merchants Fund Asia-based 14.2 11.4 25.36% 14.2 11.4
98 - China International Fund Management Asia-based 13.9 13.5 2.85% 13.9 13.5
99 71 Penghua Fund Management Asia-based 13.9 21.6 -35.87% 13.9 21.6
100 98 Cohen & Steers Global firm 13.8 12.7 8.87% 49.7 46.3
*AsianInvestor estimates

 

Average year-on-year change in AUM (for the top 100 firms)
Top 100 by Asia-sourced assets, YoY change 6.75%
Global firms’ share of Asia-sourced assets relative to global assets 10.56%
Global firms’ Asia-sourced assets, YoY change 6.81%
Asia-based firms’ assets, YoY change 13.34%
Japanese firms’ assets, YoY change -0.26%
Australian firms’ assets, YoY change -1.79%