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Carlo Cavazzoni From Komfie Manalo, Opalesque Asia:

Major fund managers across the globe, representing an estimated $10tln in assets under management (AuM) are sticking to their business strategies and focussing on established plans that work in the longer term to face expected headwinds this year in order to protect their profit margins. That was the consensus given by some 15 prominent asset managers who participated in Cerulli Associates virtual roundtable.

In a statement, Cerulli said the global asset managers from Asia, Europe and the U.S. were all determined to brace themselves for further financial turmoil in the coming months, particularly in the first half of 2012 , as "technocrats" force beleaguered Greece and Italy to implement radical labour, fiscal, and economic reforms. In fact, some are embracing the new reality of volatile markets and planning to build based upon investor needs in this environment.

One participant, Carlo Cavazzoni, Head of Global Distribution for Generali Investments commented, "Volatility is an asset class you have to live with and manage... We see huge potential for us in the ALM (asset liability management) business and all the correlated services, such as liability-driven investments."

James Thorneley, Group Communications Manager at Aberdeen Investment M......................

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