JPMorgan plans $600bn asset growth in Asia-Pacific within five years-report

Core Insights - JPMorgan Asset Management aims to expand its assets under management in the Asia-Pacific region to $600 billion over the next five years, with Australia, China, and Japan as key contributors [1][2] - The firm currently manages $302 billion in Asia, reflecting growth since 2019 [1] - The long-term goal is to grow the business to $1 trillion, maintaining a balanced distribution of assets between institutional and private wealth clients [2] Market Trends - There is a growing trend among clients to diversify investments away from the US, which may benefit equity markets in Europe and Asia [3] - In China, institutional investor interest in the technology sector is increasing, although investment flows have not fully recovered [4] Recent Developments - JPMorgan Asset Management was selected as the sole foreign firm to manage a portion of a S$1.1 billion ($847 million) mandate from the Monetary Authority of Singapore [4] - The firm launched its first active ETF in Taiwan, focusing on the US technology sector [5] - As of the end of March, JPMorgan had assets under service totaling $3.7 trillion globally [5]