a little note on herd behavior

So in his recent book, John Authers summarized:

Institutionalized investment pushes investors to move in herds: Paying fund managers a percentage of the assets they manage and judging them against peers encourages them all to do the same thing.

This is making me wonder if this is really the fact, then shouldn't these investors do their job in Asia or those emerging markets where their own societies are said to be collectivistic. Since then, the chance that they follow each other is much higher than in the developed, and individual world. There's rarely a contrarian in Asian stock markets, compared to the Western markets. Because, a contrarian should have a lot of liquidity; and in the developed world, people are brought up and taught to be different, unlike the Asian countries.

Once participating in the emerging markets (the collectivistic), there could be a case that model is used to measure the herd behavior, with on-time and correct inputs. However, the markets should be big enough so that a few individuals cannot have effect on the markets which is sometimes the cases in the emerging ones.