The pandemic looks may have led to greater use of remote capital-raising but might it also encourage investors to establish more overseas offices?
The emerging markets fund manager has reduced headcount and handed back its licences in Hong Kong in the face of economic uncertainty. But it retains a research function in the city.
The US multi-affiliate firm, formerly Old Mutual Asset Management, is closing its Hong Kong umbrella sales office as part of a change in strategy amid the Covid-19 pandemic.
Washington's growing opposition to US investment into Chinese assets is affecting asset owners and has wider implications too, note market experts.
The asset manager will reorganise its fixed income investment team in Asia after the departure of veteran Bryan Collins next month. His expertise will be missed, said Morningstar.
Limited partners have cut back on private equity investments as they focus on monitoring their portfolios. And they are taking a more careful and rigorous approach to fund managers.