Asia may not see a sizeable domestic asset management industry for a long time, owing to Asians' reluctance to invest, asset management executives said during a panel discussion at a hedge fund conference in Hong Kong on Monday, according to Reuters.

In markets such as Japan and China, savers abound and "one hurdle is just how risk-averse those savers are," said John Stewart, head of Japanese equities for British fund manager Gartmore.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.