According to Taurus Wealth Advisors, independent asset managers could see the funds they oversee in Asia triple with rising demand. In an interview with Bloomberg, Taurus Wealth Chief Executive Officer Mandeep Nalwa said the assets overseen by these independent managers could grow to around USD 70 billion in four years. Managers currently oversee USD 20 billion worth of assets. Nalwa said this was a huge increase from the USD 4 billion managed five years ago.
David Reymond told Bloomberg why clients would engage the services of independent asset managers. He said, "Savvy investors would have more sophisticated needs that require specialized knowledge or offerings in certain asset classes or investment markets. While banks are certainly well-equipped to assist clients in their financial matters and investment decisions, one needs to acknowledge that they can't be the industry leader in all investment areas." Reymond heads the Asian desk that works with independent asset managers at the Julius Baer Group in Singapore.
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