Chinese firms big winners of ‘long-term’ fund assets

Chinese fund houses represented eight of the 10 biggest net gatherers of Asia mutual fund assets last year, excluding money-market funds and funds of funds, according to Cerulli Associates. As a result, three appear in the research firm’s latest ranking of the top 10 houses by what it calls "long-term" mutual fund AUM (see figure 1). This shift has come at the expense of global players, with BlackRock and JP Morgan Asset Management dropping out of the top 10 by AUM, with two Chine…