Saudi Arabia wants to merge its General Organisation of Social Insurance (Gosi) with the Public Pension Agency (PPA). The new super fund will have to adhere to higher standards.
The UK asset manager’s Asia chief reflects on the merger of Aberdeen Asset Management and Standard Life and on fund industry consolidation in general.
The US fund manager, fresh from its acquisition of rival Legg Mason, sees China as a huge opportunity in respect of asset owners, both onshore and offshore.
A long-serving Franklin Templeton executive will lead the combined entity in the region once the Legg Mason acquisition is complete. But the appointee has come as a surprise to some.
The move is seen as unlikely to mean much change for asset owners in Asia Pacific, but fund managers will be keeping a close eye on how it develops.
But while Morningstar sees the bond house as the "strength" of Franklin Templeton's takeover of Legg Mason, the merged firm may be vulnerable to competition from index fund managers.