Private bank fund sales jump: Franklin Templeton

Some of the more well-established asset managers in Asia have seen a startling jump in fund sales via private banks in Singapore, if Franklin Templeton’s experience is anything to go by. One driver of this is a move towards simple products, while another is a trend towards more fund selection being conducted locally in the region. Five years ago, 10% of the US asset manager’s mutual fund sales in Singapore was accounted for by private banks – that figure is now 60%-plus, says St…