China to dominate fund growth
By Mike Taylor
China and Taiwan will be the big growth centres for mutual funds over the next five years according to Boston-based research house, Cerulli Associates.
In research released last week, Cerulli looked at the dynamics of the Asian mutual funds market and concluded that of the six main countries in the region, only two will see their marketplace rise between 2004 and 2009 — “the two Chinas: Taiwan and the mainland”.
“The rest will either maintain their market share (Singapore), or actually see a decline in their share (Korea, Hong Kong and India),” the Cerulli research said.
It said that overall, mutual fund assets in the region would rise to US$750 billion over the next five years, with the bank channel continuing to dominate.
“Our estimates suggest of all the meaningful distribution channels for mutual funds in Asia — direct, brokerages, and banks — the only one that will gain influence during the next five years is the bank channel,” Cerulli said.
Recommended for you
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
AZ NGA has partnered with an Adelaide-based accounting and financial planning practice as it expands its presence in South Australia.
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
