AsianInvestor speaks to fund industry executives in Southeast Asia to get a feel for how their industry has evolved since the collapse of Lehman Brothers in 2008.
The Malaysian joint-venture asset manager has announced new chief executives as part of a rotation of posts, further signalling its international ambitions.
Since Thailand's securities watchdog introduced a clampdown on sales promotions used by asset managers to boost fund sales, custodians have had a bigger role to play.
Despite standing out as one of the best performing Asian markets recently, international investors face a number of deterrents, including delays and valuation problems.
The Thai bourse has been on a tear and trigger funds have flooded the market. But Cerulli expects competing products to emerge in 2013 as the phenomenon runs out of steam.