JPMorgan Asset Management wants to double its Asia-Pacific assets under management to US$600 billion in five years, as the firm sees growth in active exchange-traded funds and new markets in the region.
“Our ambition is to double our APAC business again over the next five years. And our long-term goal is to grow this to a US$1 trillion business,” Dan Watkins, chief executive officer for Asia Pacific, said at a conference in Seoul on Tuesday.
The company managed US$302 billion in the region at the end of 2024, according to its financial filing. That is more than double from 2019 levels, when Watkins first came to the region, he said.
The growth has been bolstered by client appetite in active exchange-traded funds. The company started its first such product in Taiwan in September that allows investors to access US tech companies.
In July, JPMorgan Asset Management became the only foreign firm among three selected managers to secure a combined mandate of $1.1 billion from the Monetary Authority of Singapore, aimed at strengthening the local equities market.
The firm sees “remarkable momentum and great growth potential” in markets like Australia, Singapore, Southeast Asia and Korea, Watkins said.
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Globally, the New York-based firm had US$3.7 trillion of assets under service as of the end of March. Its most recent Asia business buildup includes Australia and China, where it opened wholly owned businesses, while Hong Kong is the regional headquarters.
