中国调研在线网讯

【关键词】 Multi-manager Investment                

【报告格式】 印刷版/电子版   

【交付方式】 特快专递/E-MAIL

【释放日期】 2006年8月

【报告页数】 页

【报告字数】 字

【图表数量】 个

【报告价格】 印刷版：元                    电子版:20000元         印刷＋电子：元

【其它信息】

【订购热线】 010-58613285           58613275                    网上订购    邮件订购

 

 

    This report takes a look at the development of the manager of manager trend in Asia-Pacific, following on from the 2004 brief. It profiles key competitors and manager of manager specialists in the region such as MLC and Russel.

 

Scope

 

    This report looks at the emerging regional trend of multi-manager investment in Asia-Pacific from a qualitative perspective

This report looks at the major risks and issues facing the market today

This report looks at the future for multi-manager investment in Asia-Pacific

 

Report Highlights

 

    In contrast to more developed markets where institutions have outsourced investment management to asset consultants and multi-managers there has been little migration to date. However, those operating in the Singapore believe that it is only a matter of time before the market begins to open up to outsourcing and hence multi-manager investments.

One of the biggest issues that needs to be overcome for multi-manager investments to take off in any market is an ability and willingness of investors - retail or institutional - to invest money offshore.

One of the biggest issues facing the Australian market going forward will be the capacity of boutiques investment managers that was discussed in the previous section.

 

Reasons to Purchase

 

    Update yourself on the opportunities in the region for multi-manager funds and find out who is taking advantage of them

Find out what risks and issues have been raised in developed markets and what potential impact they might have in your market

Determine which markets are rie for entry and which come with a caveat

 

 

 

A definition 8

THE ASIA-PACIFIC MARKETS 11

Introduction 11
The long-term investment strategy 11
The need for diversification 11
The global growth of multi-manager investments 12

Australia 13

Overview 13
Competitive environment 14
The two largest players are both local 14
And public organisations are also involved 15

New Zealand 17

Overview 17
Competitive environment 17

Singapore 19

Overview 19
Competitive environment 19

Japan 21

Overview 21
Competitive environment 21

South Korea 22

Overview 22
Competitive environment 23

Hong Kong 24

Overview 24
Competitor environment 25
Northern Trust sets up in Hong Kong 25

India 25

ING Vysya introduces manager of manager concept to the Indian market 25

RISKS AND ISSUES 27

Is there enough capacity to support multi-manager funds? 27

The rise of the boutique fund manager 27
Victims of their own success? 28
The Australian situation 29

Do multi-manager funds really produce superior returns for the cost? 29

Multi-manager performance in Australia is not too hot 29
Fees are not what they are perceived to be 30

Are volatility issues associated with using boutiques a cause for concern? 31

Asset consultants and the dwindling client base 31

The move to asset consultants 31
The diminishing influence over advisors 32

Ability and willingness to place investments offshore 32

THE FUTURE OF MANAGER OF MANAGER PRODUCTS IN ASIA-PACIFIC 34

Australia 34
New Zealand 36
Singapore and Hong Kong 36
Japan 36
South Korea and India 37

APPENDIX 38

Definitions 38

Fund-of-Funds 38
Manager-of-Manager 38
Multi-manager 38

Research methodology 38

Bespoke Wealth Market Sizing 39

Further reading 40

Asia-Pacific Wealth Reports 40
Asia-Pacific Insight Reports 40
Global Wealth Service: Competitor Tracking 41

Financial Services Consulting 41
Asia-Pacific contacts 42

List of Tables

Table 1: VFMC's clients as at 31/09/2005 16
Table 2: Wealth markets that have been modeled using the Global Wealth Model 39

List of Figures

Figure 1: Overview of multi-manager investment structures 9
Figure 2: MLC manages over half the assets invested in Australian multi-manager investment funds 14
Figure 3: Fund of funds in Korea took off in 2004 before AUM growth leveled in 2005 22
Figure 4: Samsung dominates the Korean fund of funds market 23
Figure 5: Availability of fund of funds has increased markedly in recent years 24