Fidelity Investments is making a push into Asia by planning to roll out a series of new fixed income funds. Reuters reports that Fidelity is making the push to win business from institutional investors and pension funds.

The unit, which has $261 billion in AUM, is seeing its best growth in South Korea and China. That growth is being pushed by new hires, including Chris Ryan, a managing director for Fidelity Asia ex-Japan and a former executive at ING Groep's Asia Pacific investment management arm.

In May, Fidelity also tapped Long Zhan to head its China business. Zhan also came from ING Investment Management, where he was the Dutch firm's country manager for China.

"We have strong fixed-income capabilities that perhaps need to be packaged in a different way. We also are looking at broadening the range of fixed-income strategies that we're offering to both the institutional and the retail markets," Ryan tells Reuters.

Meanwhile, the news service also reports that ING tapped Carlo Venes as the new head of its Asian institutional business starting August 4. Venes had been the regional chief marketing officer for the ING fund unit. 

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