Private banks seen as hindering Asia multi-asset funds
Asia needs to change its pension structures to facilitate change, says the chief executive of Principal Global Investors. It comes amid a growing belief that private banks are preventing the uptake of multi-asset funds.
The role of private banks is making it difficult to achieve a faster penetration of multi-asset funds in Asia, says the CEO of Principal Global Investors (PGI).
Amid a slow regional uptake, the chief executive believes multi-asset products will only become essential in Asia with a move towards a defined-contribution type of pension structure.
And looking at the regional investment landscape, he claims that mutual funds are more popular because of the tendency of Asian investors …
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