The Vanguard Group picked up some $350 in mandates from Asian investors in the past nine months. The flows followed from Vanguard's creation of a regional unit based in Singapore last year.
Jon Robinson, managing director of Vanguard's Singapore-based unit told Reuters that all of the mandates were for index and global funds advised by Vanguard. Most of the activity was from institutions based in Korea and Taiwan, he said.
Vanguard is not the only U.S indexer gaining ground in Asia. Hon Cheung, managing director of State Street Corp (SSgA) Singapore-based unit, said that its mandates have grown to $22 billion from just $8.8 billion in 2000. The mandates cover all Asia outside of Japan.
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