China and India will become asset management 'powerhouses,' top fund manager says

China and India are poised to become"real powerhouses" for the asset management industry, according to Standard Life Aberdeen Vice-Chairman Martin Gilbert.

"It's not really a retail market yet but when it is, China, India, these sort of places are going to be real powerhouses for the asset management industry," Gilbert said. Gilbert said China's top-down economy and political structure meant that"you need to be close to the government in China and as far away from the government as possible in India."

However, analysts warned it was still too early to withdraw stimulus measures China has implemented to bolster growth, which had been dented by its trade war with the United States.

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Source: Reuters - 🏆 2. / 97 Read more »