JP Morgan Asset Management expanded Asia-Pacific AUM by nearly one-third over the past 12 months to about $400bn, driven chiefly by its wealth management business. The increase puts the firm on course to exceed CEO Dan Watkins’ target set last year to double the region’s assets from $300bn to $600bn by 2030. While institutional clients remain important, most new assets came from high-net-worth investors; private bank assets rose about 50% YoY. Wealth inflows were largely allocated to alternative

JP Morgan Asset Management expanded Asia-Pacific AUM by nearly one-third over the past 12 months to about $400bn, driven chiefly by its wealth management business. The increase puts the firm on course to exceed CEO Dan Watkins’ target set last year to double the region’s assets from $300bn to $600bn by 2030. While institutional clients remain important, most new assets came from high-net-worth investors; private bank assets rose about 50% YoY. Wealth inflows were largely allocated to alternatives—notably hedge funds—and to infrastructure and transport products.