Passporting to threaten scale: Manulife

While asset managers are rubbing their hands together in anticipation of Asia’s three fund passporting schemes, they should also be concerned about fragmentation of assets, warned Donna Cotter, A       sia head of wealth management at insurer Manulife Financial. “We have compressing margins, and if we start to split up our assets across the region, across different platforms, [building] scale becomes much more difficult,” she said. For this reason, she sees no threat to Ucits fu…