Asia fund assets almost back to pre-crisis levels

Although assets under management in Asia's mutual-funds industry have returned to levels close to those before the 2008 market crash, the models of distribution are beginning to change. Ken Yap, Singapore-based director at Cerulli Associates, notes that the regional industry's AUM reached $950 billion by the end of the first quarter of 2010. By now it has further closed the gap on the 2007 peak of $1.1 trillion. The figure covers Asia ex-Japan, including China, Korea, Taiwan, Hong Kon…