“In Asia, the penetration rate of discretionary portfolio management (DPM) is currently estimated at 6%,” says Anthony Harper, Asia Pacific president and chief executive officer for managed investments at BNY Mellon. “We hope that the SMA (separately managed accounts) service can positively help private banks contribute to fee-based discretionary rather than transactional business.” The SMA business is typically reserved for…
Have a confidential tip? Get in touch [email protected]