Mercer expands investment management into Asia

Having recently reshuffled its investment-consulting heads in Asia, Mercer is looking to build an investment-management business in the region for the first time, with a focus on multi-manager strategies. But it will face stiff competition from established players in the multi-manager market, such as HSBC, Russell Investments and SEI Investments. And Mercer's life won't be made any easier by the fact that multi-manager strategies are under greater pressure to justify their relatively…