The region's investors are eager to take on more risk, but they are too focused on cash to achieve their return targets, finds a new global survey by Legg Mason.
Kimberley Stafford takes over a business that has ambitious plans, including establishing a China presence and building a regional retail business, in a testing environment.
But the US asset management giant has already ruled out using the mutual recognition of funds scheme or setting up a wholly foreign-owned entity in China.
The bond fund specialist has made two hires to focus on the retail market in Asia, and is considering its options in China, says Michael Thompson, regional head of wealth coverage.
Having hired its first Southeast Asia sales head, Old Mutual Global Investors is eyeing Singapore’s retail funds market and talking to potential partners in Malaysia and Thailand.
Individuals and institutions globally place more emphasis on transparency and ethical conduct than performance, finds a CFA Institute study exploring trust in the industry.
That is over three times the current $817 billion, and this growth will be driven largely by individual investors, as it will be for the funds industry globally, argues consultancy Casey Quirk.
The US asset manager is looking at servicing retirement needs in Asia by building a regional retail investment business, Capital Group chairman Jim Rothenberg tells AsianInvestor.
The Malaysian fund firm is understood to be looking to expand its retail presence to the city-state for the first time this summer as it targets the Asean passport scheme for growth.
The transfer of assets from sell-side to buy-side firms is diversifying risk and reducing the likelihood of a systemic event, argues Bradley Ziff of technology provider Misys.
The future of the firm's Asia retail business has been questioned after senior departures. Sources cite rising costs and tightening regulatory requirements as contributory factors.
The head of retail and private bank distribution for Hong Kong and Southeast Asia is set to leave the region, with Asia retail head Damien Mooney assuming her duties, at least for now.