Mutual funds face decline in SE Asia: Cerulli

As Southeast Asians become more affluent, they will likely shift their focus from mutual funds to investment opportunities offering higher returns, according to research house Cerulli Associates. Eventually, the region's mutual fund assets will deplete as a result of more money being re-allocated to real estate, insurance and structured products, it forecasts. Cerulli also finds that fund managers will need to spend a significant amount of time redefining their offerings for aff…