Invesco earmarks US$20m for regional growth
International fund management company Invesco plans to spend US$20 million on advertising in the next few years to promote itself in the SAR as part of its expansion plan in the Greater China region.
Invesco Asia director and head of marketing Edith Ngan said the firm had spent US$2.5 million this year on advertising, while it planned to use US$6 million in each of the next three years.
The advertising campaign is mainly used to promote Invesco to the public, to ensure it becomes a household brand name.
Ms Ngan said the company decided to raise its profile because of the launch of the Mandatory Provident Fund in December.
The move was also made to prepare for the company's expansion plans in the mainland which is likely to open its doors to international fund management companies after its entry into the World Trade Organisation this year, she said.
'Before, it is quite all right for a fund management company to keep a very low profile as only the high net-worth professionals would invest in the fund products,' she said.
However, after the introduction of the MPF this would change as more members of the public would invest in the fund products in their MPF schemes, Ms Ngan said.
