China set as market for managed assets
Print Edition
CHINA may become one of the world’s significant asset-management markets by 2020, while assets under management globally are set to exceed US$100 trillion, a report said.
The global assets under management will grow by 6 percent annually to around US$101.7 trillion by 2020, up from US$63.9 trillion in 2012, PricewaterhouseCoopers said in a report released yesterday.
Alex Wong, PwC China financial services partner, predicted growth of assets under management in China to outpace that of the Asia-Pacific region as the government opens the capital market and encourages a global yuan.
“China’s asset-management industry has a great potential amid increasing foreign capital inflows, growing accumulated wealth and more dependence on pension funds due to an aging population,” Wong said.
PwC sees managed assets in Asia-Pacific to climb 10 percent annually to US$16.2 trillion by 2020, representing 16.2 percent of the global total.
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