Fund assets in Asia at record high

Mutual fund assets in Asia ex-Japan grew 27%, its fastest pace in five years, to a record high of $652 billion in 2006, according to consultancy Cerulli Associates. South Korea kept its status as the regionÆs largest mutual funds market in Asia ex-Japan, with $255 billion in assets, but China is clearly catching up.ChinaÆs 80% growth in assets to $109 billion in 2006 was the most impressive in the region and elsewhere in the world. As of June this year, ChinaÆs mutual fund assets alre…