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Ccai Survey 2010

Ccai Survey 2010

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Published by Bonita Choi

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Categories:Business/Law, Finance
Published by: Bonita Choi on Nov 22, 2010
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11/22/2010

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 The Clifford Chance/ 
 AsianInvestor 
  Asset Management Survey 2010
Reprinted from AsianInvestor May 2010
 
Our survey of buy-side market participants showsthat investor risk appetites have returned to pre-crisis levels, but in a changed world.
By
Jame DiBiasio
Asset management businessnormalizes to a new environment
T
he good news is that business in the asset-managementindustry is quickly returning to normal. The interestingnews is that ‘normal’ isn’t what it used to be.That’s the general conclusion from a survey of buy-side participants developed by
 AsianInvestor 
and Clifford Chance,and executed in March by Ipsos. The survey, conducted onlineand through interviews, received responses from 249 investmentprofessionals.Of these 33% are from independent asset-management com-panies, 15% from bank- or insurance-affiliated asset managers,12% from service providers to the buy side, 12% from investmentbanks or sell-side brokers, 11% from institutional investors, 8%from distributors and 2% from government or quasi-governmentinstitutions.Among our respondents, 33% are senior managers or partners,while 25% are in business development, 14% manage portfolios,8% are analysts, and 8% are from compliance. The majority, 57%,is based in either Hong Kong or Singapore, but respondents comefrom all over the world.The first half of the survey repeated questions posed one yearago in a similar poll. Looking at expectations of expected invest-ment destinations, fund flows and asset-class preferences, thesurvey reveals the extent to which risk appetites have revived.
Equities and hedge funds in favour
For example, question 1 asks, “Where do you expect to see thelargest allocation of capital by institutional investors to Asiaover the next 12 months?”Investors clearly prefer (or are expected to prefer) equity capi-tal markets when tapping the Asia story.Respondents were allowed to select up to three types of instru-ments, and 64% included equities in their answer. This is well
Q1 Where do you expect to see the largest allocation of capital by institutional investors to Asia in the next 12 months?
In association with:
Equity capital marketsDebt capital marketsHedge fundsETFsPrivate equity fundsManaged accountsInfrastructure fundsDistressed/opportunity fundsPrivate equity real estate fundsMoney market fundsHedge fund of fundsPrivate equity fund of funds
Largest1
st
+2
nd
largestTotal (1
st
+2
nd
+3
rd
largest)
Total response %, 2009
474916251824284083475
 
 
Q3 In Asia (including Japan), which market segment will provide the most new inflows to fund managers?
Endowments/pension fundsSovereign wealth fundsHigh net worthInsurance companiesRetail/mass affluentOther institutionalFund of funds
Rank 1
st
onlyRank 1
st
+2
nd
+3
rd
only
Total response %, 2009
Q2 Which countries/territories will be the most popular destinations for investment in the next 12 months?
Largest1
st
+2
nd
largestTotal (1
st
+2
nd
+3
rd
largest)
Total response %, 2009
7275744927
N/A
2013116111057050423036
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