More investors picking managers based on cost

Choice of asset managers in Asia – as elsewhere – is being driven more and more by the fees these firms charge than the performance they have delivered. Even when it comes to active managers, increasingly investors are going for the cheapest provider, not necessarily the one with the best performance. If this trend continues to accelerate, fund management industry revenues could fall by as much as 30% in just two years. So argues a report published last week by consultancy Oliver …