Ambitious asset managers evolve in 'manic fashion'

SHANGHAI - Rising demand for wealth management tools from individual and institutional investors alike, and expanding financing channels for enterprises, will make China's asset management segment one of the fastest-growing sectors in the global capital market.

China's asset management segment is set to expand fivefold to $17 trillion by 2030, beating growth in other markets and benefitting local money managers, according to a report last week by Casey Quirk, a global consultancy services provider on asset management from the Deloitte stable.

Assets managed by Chinese managers may overtake the $3.8 trillion in the United Kingdom as early as 2019, with domestic firms being the biggest winners, according to the report.