As Hong Kong's securities regulator softens its stance on leveraged funds, Citi's Stewart Aldcroft dismisses concerns that they are unsuitable for local retail investors.
The South Korean and Japanese asset managers are looking to compete in a very crowded space with the first co-managed product they have launched outside their home markets.
The Korean asset manager is looking to hire regional sales directors as it expands its institutional business. It has seen heightened demand for its Luxembourg-domiciled Asia products from institutions over the past year.
Newly appointed chief marketing officer, Ashley Dale, will be visiting Europe next week to evaluate how many sales staff to hire. The firm is also planning two more ETF launches.
The South Korean fund manager is targeting institutional investors in particular with its new range of Asian sector-focused exchange-traded funds in Hong Kong.
The region's asset management industry will swell to $4 trillion by 2015 and eventually be the biggest in the world, finds Cerulli. ETFs are forecast to grow rapidly, notably in China.