Money managers are seeking to expand in the Asia-Pacific region, Pensions & Investments reports. Asia Pacific, which has about $16 trillion from sovereign wealth funds, pension funds and other investors, has become a core market.

As part of the Asia expansion, global money managers, including BlackRock, State Street Global Advisors and HSBC Global Asset Management, have appointed key staff and signed cooperative agreements with local firms. Asia Pacific’s fund management market is expected to grow at an estimated rate of 8.3% annually over the next three years.

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