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Is Asia's funds industry a failure?

Funds veteran Blair Pickerell says it is, in the sense that the average person still has an under-managed portfolio. But it is open to debate whether that is the fault of clients or industry professionals.
Is Asia's funds industry a failure?

The last 30 years can be seen as a failure for Asia’s financial services industry in the sense that the average person in the region still has an under-managed portfolio, says semi-retired industry veteran Blair Pickerell. 

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