Asset management in Asia in 'hyper-growth' mode
Almost 90% of total financial assets in Asia (about US$110 trillion) are outside the asset management industry.
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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.
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