The acquisition of Aviva Investors' Asia-Pacific direct property business substantially expands JP Morgan Asset Management's real estate assets, headcount and client base in the region.
The firm singles out Indonesia as an example of a relatively closed market that offers diversification potential amid nervousness over the consequences of Fed tapering.
The Asia equities team and several other executives have left, including Singapore CEO Tahnoon Pasha. But the UK firm has set up a bond-dealing desk in the region and retains its Asia equities capability in London.
The sharp sell-off in emerging market securities has presented buying opportunities in Asian high-yield debt, argues UK fund manager Aviva Investors.
The UK-based firm is to join forces with China Central Securities for a JV in Shanghai. It fills a void as Aviva Investors opts to exit even after a five-year wait.
The US firm’s Asia-Pacific CEO, Craig Bingham, is exploring options including a multi-boutique structure as well as organic growth. The firm also aims to expand in fixed income.