Western fund managers are casting hungry glances toward the large – and growing – pools of capital known as sovereign wealth funds. Asian sovereign funds currently control an estimated $1,000bn (£500bn, €635bn), a figure expected to grow rapidly in coming years. A large portion of those assets will be handed out in huge mandates to third party managers.

“For many asset managers, this is almost a once-in-a-career opportunity, to see the amount of assets that are being distributed,” says Richard Surrency, head of Asia sales, BNY Mellon Asset Servicing. The opportunities are huge, for managers of all sizes and styles, experts say; China alone is likely to award at least $500bn in mandates over the next couple of years.