Asian Fund Distributors Forced to Contend With Sub-Standard Service Quality
Private and retail banks in Asia receive lower quality service from investment fund providers than their counterparts in Europe and North America, and service standards in Asia could slip further as several large asset management firms scale back resource commitments to the channel.
New research from Greenwich Associates helps fund distributors navigate this challenge by identifying the top-ranked asset managers in Asia in terms of service quality provided to private and retail banks.
Although gatekeepers for the fund platforms of private banks and retail banks in Asia have essentially the same mandate, they face starkly different challenges. Gatekeepers for retail banks must sift carefully through a limited number of asset managers competing for their business to find those fund providers that are willing and able to deliver appropriate levels of service. Private bank gatekeepers have a much wider array of options.
“Given the fact that a number of asset managers need to pull back resource commitments to the channel, Asian retail banks in search of better service from asset managers should consolidate their relationships and form collaborative partnerships with top-ranked firms to ensure adequate attention and service over a long-term horizon,” says Greenwich Associates consultant Abhi Shroff. “Private banks should be open to asset managers without significant, pan-Asian intermediary distribution capabilities—if those providers’ funds meet the platform’s criteria in investment and other categories.”
Top-Ranked Asset Managers in Asia in Terms of Service Quality
To help gatekeepers in both channels find the right managers with which to partner, Greenwich Associates provides the following rankings showing the top-rated service quality providers to Asian retail banks and private banks.
Top Managers in Distributor Servicing Quality- Based on Scoring by Gatekeepers
| Ranking by Private Banks 1. PIMCO 2. Allianz Global Investors 3. J.P. Morgan Asset Management 4. Franklin Templeton 5. Amundi Asset Management |
Ranking by Retail Banks |
Note: Results based on interviews with 54 Asia ex-China and Japan gatekeepers at retail banks and 23 at private banks. Source: Greenwich Associates 2013 Asia Intermediary Distribution Study