Ex-ING IM exec Ferrer to head ATR KimEng fund house
Michael Ferrer, who left ING Investment Management in Hong Kong at the start of the year, will lead a new asset management venture in the Philippines.
ATR KimEng Financial Corporation has established a dedicated asset management business in the Philippines and recruited Michael Ferrer, former manager for Southeast Asia business development at ING Investment Management, to run it.
The asset management industry in the Philippines is a modest $20 billion, of which around 90% is in the form of banks' trust divisions, and the remaining $2 billion in mutual funds. Moreover, nearly all of this is invested in domestic fixed income.
The ma…
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