ASIA - European Exchange-Traded Funds (ETF) players could soon tap Asia as a lucrative revenue source as the Euro market matures, said Marie-Pierre Ravoteur, co-head of the EasyETF development platform jointly managed by AXA Investment Managers and BNP Paribas.
Ravoteur said it was unlikely European players would break into the US market as there were too many big players there and the market there was very mature, so those looking to expand would likely target Asia and perhaps the middle east.
"I expect to see European players looking to Asia," said Ravoteur, who singled out Singapore and, to a lesser extent, Hong Kong as two " interesting" markets.
"Singapore has some similarities to European markets, and there is a lot of opportunities arising from private investment bankers," she said. "It is bigger than the Swiss market, so it could be a big market for us."
Ravoteur stressed that AXA IM and BNP did not want to create new indices in the Asian market, but rather "create new opportunities in new asset classes or products".
She added that the Japanese market offered significant opportunities, but the language barrier posed a difficult problem. "In Tokyo, there are much more issues with language, so you will see mostly Japanese players there as a result."
As for the Eastern European market, Ravoteur said there was not yet any significant demand emerging from the region.
"It was fashionable a few years ago, but if you listen to market commentary, it is not really a focus area for the main European players," she explained.
You do still get some clients looking for it but we have yet to see much demand there, so we have no plans to develop projects in Eastern Europe for now."
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