Asia’s asset management industry to reach an amazing $4t by 2015

Asian fund managers are poised to take over the world.

The asset management industry in Asia ex-Japan is expected to double assets to $4 trillion by 2015 driven by growing wealth in the region, rising foreign interest and new pools of assets from insurance and retirement funds, Reuters said, citing a report showed on Tuesday.

China, Hong Kong, Taiwan, Singapore and South Korea are the main targets of money managers, said the report commissioned by Citigroup's Securities and Fund Services and Mirae Asset Global Investments and compiled by Cerulli Associates.

Across most markets, managers are more bullish on the institutional segment as higher economic growth in the region and a growing middle class swells assets under management of sovereign wealth, pension and insurance funds.

The report said while foreign fund managers were looking to expand into Asia, local money managers were planning to expand abroad.

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