But as asset owners outsource their swelling portfolios more in the coming years, they will drive harder bargains with external fund managers, says consultancy Spence Johnson.
EFG's SE Asia head resigns; Neuberger Berman in sales shuffle; Spence Johnson hires first Asia head; Credit Suisse boosts AES team; Northern Trust adds Pune operation; Latham & Watkins builds in HK, to open in Seoul; Iosco opening Asia branch; SS&C replaces Malaysia chief.
Ng Sze Yoon will leave the US-based funds industry analytics firm at the end of the month to help another research house set up in Singapore.
Mutual fund assets under management are declining as a proportion of household financial assets in Asia. This indicates a worrying lack of understanding of these products, say market participants.
Moves by Taiwan to tighten rules on foreign fund houses reflect a trend for governments in Asia to seek to strengthen their local fund industries, says the research house.