The market share of Japan-based funds held by non-local investment managers looks set to fall, despite last year's rise from 16.1% to 17.5%, said Cerulli Associates, the research organisation.
Cerulli said that the rise in assets for non-local managers represents a short-term anomaly rather than a long-term trend. "Non-Japanese firms will only represent 14% of the fund management industry by 2005," it said.
