JPMorgan Asset Management (JPMAM) is reportedly planning to expand its retail business in Southeast Asia, particularly in Malaysia, Indonesia and the Philippines.

In an interview to AsianInvestor, JPMAM head of funds for Asia Pacific Michael Falcon said that rather than establishing an onshore business, the company is initially looking to expand via a partnership model.

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For now, the firm will continue to manage Southeast Asia from its hub in Singapore, Falcon said.

Falcon added that his firm will expand using the feeder structure in new markets in Southeast Asia.

"I wouldn’t be prescriptive about how we enter each market. We need to be strategic, opportunistic, and practical. The most important thing is to develop good relationships with strong local parties that we can work with," the publication quoted him as saying.

Overall, the firm operates in eight markets in Asia and had $1.76 trillion in AUM globally as at 31 March 2015, Falcon revealed.

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