Asia mutual fund growth regaining pole position

The growth in Asia''s mutual fund assets is returning to its traditional speed, double that of the rest of the world.

After suffering the triple whammy of SARS, war and recession last year, asset growth in mutual funds in Asia ex-Japan is returning to its traditional rate of double the rest of the world's average.

Deutsche Asset Management expects substantial growth in the roughly 11,000 funds in Asia not including China or India this year. Today assets in Asian funds are only 21% of the world's total, but that will pick up quickly, says Choy Peng-Wah, chief executive at DeAM Asia in Singapore.

Quoting figures from the International Investment Funds Association IIFA, Choy says assets in Asia's mutual funds rose 9.5% to $1.142 trillion in the first half of...

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