Combined assets of the firms on the Asia 100 grew by 15 percent for the second consecutive year in the 12 months ended March 31, to $13 trillion.
Japanese insurers dominate the top of the ranking, led by Japan Post Insurance Co. (Kampo), with $1.16 trillion under management, and Nippon Life Insurance Group, with $654 billion in assets. Among international firms, U.S. giant BlackRock has the largest Asian footprint, with $438 billion of its $3.6 trillion in total assets invested in Asia, ahead of second-place State Street Global Advisors, with $375 billion.
Elsewhere, Macquarie Group is the top Australian fund manager on the list, with $252.6 billion in assets, while China Life Asset Management Co. comes in first place among that country's fund managers, with $241.7 billion in assets.
Much of the rise in Asia-based assets reflects continued strong investor interest in China, whose economy has been growing at a pace of more than 9 percent over the past year. The picture was mixed elsewhere, with sluggish growth and the impact of the March earthquake and tsunami weighing on Japan's market and performance varying across countries in Southeast Asia.
“There are lots of pitfalls in this part of the world,” says Hugh Young, managing director at London-based Aberdeen Asset Management Asia, which had $68.8 billion in Asian assets as of March 31. “Asia is likely to remain strong for the next ten years, but it's not a passport to making money.”
The complete survey results can be found at www.institutionalinvestor.com.
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