Australian funds maintain Pan-Asian focus

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Several managers including AMP Capital Investors and Blaxland Funds Asia - which is associated with the Myer family - are believed to be active in Singapore, the Australian reports.

Fund managers are said to be looking to raise somewhere in the region of AUD$300 million, though certain groups are known to have set targets as high as AUD$800 million.

The newcomers join several other firms that have already established funds management business in the city state. These include Macquarie Group, MacarthurCook and Lend Lease.

"Given that the listed market is difficult at the moment, the trend is to go down the wholesale route. There are a lot of investors out there looking for investment opportunities," affirmed Blaxland Asia chief executive Chris Calvert.

"These include pension funds, institutional groups and funds of fund," he continued. "Some of these institutions do not as yet have investments in Asia. They like Singapore, which is seen as a safe and transparent market."