Daiwa Securities Group Inc., Japan’s second-biggest brokerage, is betting on a new Singapore office to win business from wealthy Asian clients keen to invest in Japan, Koshiro Taniguchi, Daiwa’s head of private banking said.
Once Japan’s banks get the green light to sell separately managed accounts to the country’s wealthy, they will go all out to grab the business from brokerages, said Toshihiro Miyake, a partner at the Japanese arm of consulting firm Accenture Ltd.
Compared to their Western counterparts, managers of pension funds in Asia have been less likely to invest in alternative strategies such as hedge funds.
One of the challenges facing private banks in Asia — especially in developing markets where clients may be “affluent” rather than “very wealthy” — is how to strike a balance between the number of clients serviced and the number of services offered, said Wm. David Seymour of KPMG.
A surprise run-off in Brazil’s presidential election should not be a cause for alarm for investors, emerging markets investment guru Mark Mobius told Reuters in a telephone interview.
Mark Mobius, the 70-year-old emerging markets investment guru who oversees some $29 billion in assets at Templeton Asset Management, says he travels some 200 days out of the year looking for investment opportunities — and doesn’t expect to slow down anytime soon.