JPMorgan Asset Management plans to double its Asia-Pacific assets under management to $600bn over the next five years, strengthening its position in one of the fastest-growing regions for institutional capital, according to sources cited by Bloomberg.

Dan Watkins, Chief Executive Officer for Asia-Pacific, said the firm’s long-term ambition is to build a $1tn business. “Our long-term goal is to grow this to a $1 trillion business,” he said at a conference in Seoul.

The company currently manages $302bn in Asia, more than double its 2019 level. Watkins said institutional and private wealth assets are currently “roughly even,” but expects institutional capital to grow faster in Asia than in the US or Europe. “I think institutional assets will grow more in APAC at a faster growth rate than US or Europe. So there’s your opportunity,” he said.

JPMorgan is seeking to capitalise on investor diversification trends amid heightened market volatility and US-China trade tensions. Watkins said the firm has won “significant global equity mandates with APAC institutional clients” over the past 18 months, with more investors seeking exposure to Europe and Japan.

In July, the firm became the only foreign asset manager selected by the Monetary Authority of Singapore to manage part of a S$1.1bn ($847m) local equities mandate. JPMorgan has also launched its first actively managed exchange-traded fund in Taiwan, providing access to US technology companies.

Asia remains a central pillar of JPMorgan’s $3.7tn global asset management platform, with operations expanding in China and Australia and a regional headquarters in Hong Kong. Watkins said diversification and innovation in product offerings will be key drivers of growth as the firm scales its presence across the region.

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