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HSBC Asset Management Sets Bullish Targets in Asia
Tom Burroughes
27 June 2008
HSBC Global Asset Management expects its assets under management in Asia to at least double in the next five years from $60 billion, as it sells more products in Hong Kong and China and moves into new markets such as Australia and Vietnam, its Asia chief said, according to a Reuters report. A doubling or tripling of Asia's $1.5 trillion asset management industry would be realistic in the next five years, Rudolf Apenbrink,
"We will grow at at least the same rate," he added. As part of its expansion, HSBC Global, owned by Europe's largest bank, will enter
It is also considering expansion into