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Asian private wealth still flocking to money markets: US$758bn asset manager

For Federated Hermes, its first step into Asian markets with the opening of its Singapore office years ago could not have been better timed. Amid tightening liquidity and market volatility, the US$758 billion in AUM asset manager was ideally-placed, given more than half of those assets came from money market funds. While US-headquartered Federated Hermes has continued to see increasing…

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