Even as growing numbers of multi-national asset managers are moving to set up shop in Malaysia, as they prepare to tap into the demand for Islamic fund management, an informal poll of market participants suggests that the industry’s growth is being stymied by a lack of product innovation and range.
Investors around the world poured almost $1trn (726bn, £599bn) into funds during 2013, roughly the same as the year before, but changed their allocations “dramatically”, according to an annual report on the global funds industry issued by Strategic Insight.
An online fund supermarket preparing for launch in Korea is unlikely to have much of an impact on the country’s mutual fund distribution landscape in the short term, according to Cerulli Associates.
The Hong Kong fund industry witnessed a slump in net sales in 2013 over the previous year, according to Hong Kong Investment Funds Association, which attributed the decline to bond funds which saw net annual outflows for the first time since 2007.
SinoPac Asset Management will launch the Accudo Asian Value Arbitrage Fund in early March and has appointed Manuel Schlabbers as the fund manager.
The majority of asset managers in Hong Kong are optimistic about the outlook for equity markets and many continue to hold a negative view of bonds, according to a recent survey.
BlackRock has launched a new multi-asset fund aimed at emerging market investors.
Schroder Investment Management, the Hong Kong arm of London-based Schroders plc, has reopened its Asia Asset Income Fund, and added a Renminbi-hedged share class.
Fullerton Fund Management has launched an Asia-focussed short duration fixed income fund which will invest in securities with an average portfolio duration of about three years.
Manulife Asset Management Hong Kong will introduce a new fund to its mandatory provident fund account platform from 16 December.
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