Global funds industry shifting east

New York-based consultancy Strategic Insight says in a new report that the credit crunch has revealed the essential need for fund management companies to have a distribution into Asia û and predicts many more will build it.Funds under management in Asia as well as the Middle East and Latin America will grow much more quickly than those in the United States and Europe over the next five years, says Daniel Enskat, managing director and head of global consulting.Fund companies that lack …