PENSION reforms, the "great wall" of Chinese capital and burgeoning affluence, are combining to drive the growth of asset-management firms in Asia over the next five years.
McKinsey & Company said in a report that asset management in Asia is already in "hyper growth" mode, and "the good news should continue".
A large part of the growth is also expected to come from currently unmanaged assets shifting to third-party professional managers. Nearly 90 per cent of total financial assets in Asia, or about US$110 trillion, are outside the asset management industry. This compares to about 60 per cent in the US and 70 per cent in Europe.
The report, "Will the good times keep rolling for Asia's asset managers?",...
Keyword added to your list