Fund managers “unlikely” to scrap bonuses in Asia

Asia-based fund managers are seen as unlikely to mimic Neil Woodford, a respected UK-based investment veteran, who has scrapped bonuses for portfolio managers at his firm because he thinks they are ineffectual at boosting performance. He was a former star fund manager at Invesco Perpetual, who set up his own firm, Woodford Investment Management, in 2014 that now has £14 billion ($18.5 billion) under management. His decision to shun the bonus system that prevails across the globa…