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Please use this identifier to cite or link to this item:
http://hdl.handle.net/2451/27395
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| Title: | The Asset Management Industry in Asia: Dynamics of Growth, Structure and Performance |
| Authors: | Walter, Ingo
Sisli, Elif |
| Keywords: | Asset management
Asia financial systems
pension funds
mutual funds
private banking |
| Issue Date: | 2006 |
| Series/Report no.: | FIN-06-036 |
| Abstract: | We examine the industrial organization and institutional development of
the asset management industry in Asian developing economies –
specifically in China, Indonesia, Korea, Malaysia, Singapore,
Philippines and Thailand. We focus on the size and growth of the
buy-side of the respective financial markets, asset allocation, the
regulatory environment, and the state of internationalization of the
fund management industry in its key components – mutual funds,
pension funds and asset management for high net worth individuals. We
link these the evolution of professional asset management in these
environments to the development of the respective capital markets and to
the evolution of corporate governance. We find that the fund management
industry occupies a very small niche in domestic financial systems that
are dominated by banks. At the same time, we find that its growth has
been very rapid in the early 2000s and we suggest that this is likely to
persist as the demand for professional management of financial wealth in
the region develops and as the pension fund sectors of the respective
economies are liberalized to allow larger portions of assets to be
invested in collective investment schemes. |
| URI: | http://hdl.handle.net/2451/27395 |
| Appears in Collections: | Finance Working Papers
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