The portfolio manager of Perpetual Ltd.’s global resources fund says it can grow many multiples of its present size by attracting Asian investors.
“We can sell into Asia,” says James Bruce, portfolio manager and analyst at Perpetual’s global resources fund.
He declined to give a figure the global resources fund wants to manage. Bruce says the fund could manage “billions” of dollars in investments. It currently has 30 stocks in its $30 million portfolio that are followed by Bruce and his two colleagues Andrew Blakely and Andrew Corbett.
Australian funds in the second-half of 2012 could begin to offer their products in Hong Kong and Singapore under a scheme agreed by government leaders at the Asia-Pacific Economic Cooperation forum this month.
The so-called Asia region funds passport will allow Australian funds to offer a product without having to seek licenses and authorisations from regulators in Singapore and Hong Kong.