Asian institutions shoot down external managers

Few investors will be delighted with the past year's returns, but Asian institutions have been quicker than their Western peers -- perhaps too quick -- to blame external managers for poor results, according to a new Greenwich Associates report. Last year, 25% of Asian institutions said they had fired an investment manager in the previous 12 months, but as many as two-thirds said the same this year, says the report, Asian Investment Management: After crisis, new doubts about external …