Asean funds: have passport, could travel? | beyondbrics:
"Asian fund passport plans, to borrow the old cliché, are like London buses: you wait ages for one and then three come at once.
Wednesday’s announcement between the regulatory bodies of Singapore, Malaysia and Thailand to create a system for cross-border distribution of mutual funds was the third in the region this year.
For years, Asian fund managers and regulators have pondered the idea of mimicking Europe’s UCITS (Undertakings for Collective Investment in Transferable Securities) scheme: a harmonised framework of product regulation that allows funds from one member state to be distributed in another. According to the European Fund and Asset Management Association (EFAMA), total net assets in UCITS stood at €6.5tn at the end of June 2013; they logged net inflows of a record €132bn in the first quarter alone."
'via Blog this'
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