Fund management houses will increasingly adopt a “multi-boutique” or “virtual” structure, but will struggle to crack the potentially lucrative Asian market.
Those are among the predictions of the latest annual industry report drawn up by Citigroup, Principal Global Investors and Create Research.
Asset managers continue to cast envious glances at the projected growth of Asia, and the wider developing world; emerging market equities and bonds are the two asset classes the industry predicts will attract the most new money in the next three years and Asia is overwhelmingly tipped as the most likely source of “alpha”, or market-beating returns, over the same period.