[JP Morgan’s Asian assets exceed expectations to increase to US$400 billion] On October 27, JPMorgan Asset Management expanded its assets under management in the Asia-Pacific region by nearly one-third within 12 months, reaching approximately US$400 billion, with its growing wealth management business being the main driving force. The growth puts the company on track to exceed the target set last year by its Asia Pacific CEO Dan Watkins to double assets in the region from $300 billion by 2030. Watkins said that while institutional clients remain a key part of the business, much of the growth has been driven by high-net-worth investors. “Wealth management is exactly where there is significant growth,” he said. He added that assets from private banking clients have climbed 50% in the past year. A large portion of this wealth channel has gone into alternative investments, particularly hedge funds, but also into infrastructure and transportation products.