BNY Mellon Asset Management Asia Chief Executive Alan Harden says he is “more bullish on China than the commentary” and with his Australian colleague Bruce Murphy is seeking to build retail product the company can offer to individual investors.

Murphy, managing director in Australia for BNY Mellon, says the company is “quietly working away at picking two or three funds” for Australian individual investors.  

“There will be no big bang on retail,” says Murphy. “Reforms are causing a change in the adviser market and more and more working with the big four banks and an insurer is important.”

BNY Mellon manages $23 billion in funds for Australian institutional investors, $19 billion in currency risk management.

Harden says in Asia BNY Mellon is looking at growing the business internally or through acquisitions in Asia. South Korea and Taiwan are the most interesting markets, he says, from an acquisition point of view.