Banks advance retail funds dominance

Cerulli predicts banks will soon account for two-thirds of fund sales in Asia.

Boston-based consultancy Cerulli Associates says banks now account for about half of all retail mutual fund sales by assets in Asia ex-Japan, and predicts they may sell up to two-thirds of fund assets by 2008.

Almost every channel is likely to lose market share to the banks, says Shiv Taneja, associate director in London. The exception in some markets such as Singapore may be independent financial advisors, but they will remain too small to make an...

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