JP Morgan aims to double funds market share
But it faces challenges. “When I mentioned diversification and long-term investing [to intermediaries], they all laughed,” says new Asia head Jed Laskowitz.
Ever since JF Funds introduced the bank-distributed mutual funds model to Asia in Taiwan in the 1980s, the business has failed to realise its potential.
Don’t believe me? Consider end-2012 data, compiled by JF Funds’ successor group JP Morgan Asset Management. It shows that US households keep 27% of their assets in cash and deposits, and 67% in capital-market allocations. For emerging Asia, households keep 77% of assets in cash and deposits, and 23% in bonds and equities. In devel…
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