Deutsche Bank has long-term plans to enter Asia's fund management distribution market by importing an open architecture it is now establishing in Europe with Amvescap's Invesco mutual fund products, according to Deutsche and Invesco officials in Hong Kong. But while Asia is covered in their global partnership, in which Deutsche will offer third-party funds for the first time, the bank has a lot of work to do before it is ready to extend its efforts here.
Consumer banks have come to dominate retail distribution of funds in Hong Kong and Singapore. Citibank and Standard Chartered together have the majority of the market in Hong, having started selling third-party funds in addition to their own since...
