US-based Dimensional Fund Advisors has hired ex-Fidelity salesman Carlo Venes and intends to open offices in Asia ex-Japan and Tokyo.
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The fund-management giant sees its Asia-Pacific heads of both institutional business and investment marketing, respectively, quit for pastures new.
Fidelity International and Greenwich Associates find that although both Asian and European institutional investors seek greater exposure to Asian equities and bonds, the Asian community is going beyond global benchmark weightings.
Retaining clients, rather than winning new ones, is key to growing the institutional business in Asia, says Fidelity’s Carlo Venes.