2007年6月11日 摩根士丹利拟挺进中国零售基金业

Morgan Stanley is planning to launch retail fund management operations in China, South Korea and Taiwan over the next two years as part of an aggressive push into Asian investment management.

此举意味着摩根士丹利进军亚洲的脚步发生了转变。到目前为止，这家美国投资银行一直将重点放在亚洲的机构基金管理及地产、私人股本和对冲基金等另类投资业务上。 The move represents a step-change for the US investment bank, which has so far focused on Asian institutional fund management and alternative investments such as property, private equity and hedge funds.

摩根士丹利亚洲投资管理部门主管裴布雷(Blair Pickerell)在得到任命后首次接受采访时表示："如果你确实有意在全球打造长期资产管理业务，你就不能不进军中国。"

In his first interview since his appointment as head of the Asian investment management operation, Blair Pickerell said: "If you are seriously interested in building a long-term asset management business globally, you can't afford not to be in China."

上周，包括首席执行官麦晋桁(John Mack)在内的摩根士丹利董事会成员在香港召开了该集团的全球管理会议，以此展示他们对亚洲的重视。这是该集团首次在亚洲召开此类会议。

Last week, Morgan Stanley board members - including John Mack, chief executive - sought to demonstrate their commitment to Asia by holding the group's global management meeting in Hong Kong, the first such meeting in the region.

摩根士丹利的扩张计划凸现出该集团日益关注亚洲共同基金市场--这一市场目前已达1.2万亿美元，占全球共同基金资产的6%。这一计划还反映出该集团决心发展其非美国投资管理业务。摩根士丹利目前管理的全球资产为5210亿美元，其中非美国投资管理业务占五分之一。

Morgan Stanley's expansion plan highlights its growing focus on the $1,200bn Asian mutual fund market, which accounts for 6 per cent of global mutual fund assets. It also reflects the group's drive to bolster its non-US investment management business, which accounts for a fifth of its $521bn of global assets under management.

这家美国投资银行已经在日本开展了本土基金业务，将重点放在日本的养老金计划上。该行最近还加快了其规模不大的印度共同基金业务的扩张。

The US bank already has a domestic fund business in Japan, where it focuses on the country's pension schemes. It has also recently stepped up its efforts to expand its small mutual fund business in India.

裴布雷曾任汇丰(HSBC)亚洲基金管理部门主管，领导了汇丰向中国零售基金市场的扩张。要想进军中国的零售基金业务，外国集团必须在中国组建合资基金管理公司，持有合资公司的少数股权。

Mr Pickerell was head of the Asian fund management arm of HSBC, where he led the bank's expansion into the Chinese retail fund market. Foreign groups are required to buy minority stakes in local fund joint ventures.

裴布雷表示，摩根士丹利渴望与潜在的中国合资伙伴展开谈判。在韩国等其它市场上，摩根士丹利希望能收购现有的本土业务。

Mr Pickerell said the group was keen to start negotiations with potential Chinese joint venture partners. In other markets, such as South Korea, the group would be looking to acquire existing local businesses.

分析人士表示，裴布雷的个人声望也许有助于摩根士丹利吸引亚洲顶级的基金管理人才。

Analysts said Mr Pickerell's reputation might help Morgan Stanley to attract top Asian fund management talent.

摩根士丹利的亚洲业务现有员工440人，预计该公司即将开始招聘人才，以支持计划中的扩张。

The Asian operation, which has 440 staff, is expected to start hiring to support the planned expansion.