Asia Securities Industry & Financial Markets Association
(Asifma) has launched an asset management group to promote the
interests of Asian asset managers at local, regional and global
Asifma’s Asset Management Group (AAMG) is led by
Eugenie Shen and had 15 members at launch. "AAMG was
established to act as a collective voice of the asset
management industry in the region," said Shen, managing
director and head of AAMG.
"Its mission is to promote the development of liquid, efficient
and open capital markets in Asia by harnessing the shared
interests of the industry, driving consensus, developing best
practices and uniform standards, and effecting change that
would lead to more competition and efficient intermediation of
investors in the region."
Mark Austen, CEO of Asifma added: "The addition of AAMG is a
major element of our expansion over the past 18 months to
encompass equities, compliance, post-trade and asset management
in addition to our original division for fixed income. We are
now a 'full service’ financial association in
terms of covering both buy and sell side."
AAMG will work closely with its members, communicate with
policy makers on regulatory issues, partner with existing
associations locally and globally, and promote best practices
and consistent market standards across the region.
"We are looking at developing best practices and uniform
standards on various types of disclosure, quicker time to
market for new products, passporting of funds and other
initiatives that would help promote cross-border business
expansion while reducing the overall cost of doing business in
multiple jurisdictions," said Shen.
AAMG is led by a steering committee comprising chairman Kai
Sotorp, group managing director, head of Asia Pacific, UBS
Global Asset Management; vice-chairman Ajai M. Kaul, chief
executive officer, Asia Pacific ex-Japan, AllianceBernstein;
vice-chairman Jed Laskowitz, chief executive officer Asia
Pacific, JPMorgan Asset Management; and treasurer Lachlan
Campbell, managing director & chief operating officer,
The current members of AAMG include AllianceBernstein,
Amundi Asset Management, BlackRock, BNP Paribas Investment
Partners, Eastspring Investments, Goldman Sachs Asset
Management, Income Partners, J.P. Morgan Asset Management,
Neuberger Berman, Principal Global Investors, Schroders, State
Street Global Advisors, Threadneedle Investments, UBS Global
Asset Management and Wellington Management.