6 Aug, 2012 -
AMP Capital plans to expand its business in the Asian region, AMP Capital’s director of international business said. Japan is AMP Capital’s main focus for growth, but the financial services company is also keen to expand its presence further in China and India. “We’re very keen to expand our China business both onshore and [by] winning more mandates,” AMP Capital director of international business Anthony Fasso told InvestorDaily. “India is [also] a key strategic market for us and we’ll continue to evaluate opportunities to enter the Indian asset management market.” Outside of these key areas in Asia, AMP Capital is also interested in raising capital from margins in Korea, Taiwan and Malaysia. Fasso listed global real estate investment trusts (REITs), real estate securities, global infrastructure and Asian equities as central areas of focus in terms of raising capital. He explained that whilst the Australian business remains crucial to the company, AMP sees opportunities within the Asian region.
“We see large capital pools have already formed in Asia. Particularly, they are looking to managers who have an expertise in investing in real asset such as infrastructure and real estate. These are core competencies of AMP,” Fasso said. In line with growth plans, the group recently announced appointment of Kerry Ching as managing director of Asia (excluding Japan and China) to drive business development in the region. Fasso said he plans to bolster the new team based in Hong Kong with further appointments. “We are looking to relocate some people from the Sydney team and one or two other [external] hires to complement that team,’ he said.
(Source – “Investor Daily“)