News Column

Cross-border funds agreed

August 26, 2014

Bangkok Post, Thailand



Aug. 26--Cross-border mutual fund offerings are now allowed for retail investors in Thailand, Singapore and Malaysia under the Asean CIS Framework for collective investment schemes, says the Securities and Exchange Commission (SEC).

Yesterday's announcement follows the signing of a memorandum of understanding by Malaysia'sSecurities Commission, the Monetary Authority of Singapore and the SEC in October 2013.

Qualified fund managers will now have a direct and efficient channel for cross-border distribution of funds in these three markets.

Vorapol Socatiyanurak, the SEC's secretary-general, said the implementation of the framework will open Asean investment schemes to retail and non-retail investors, providing more business opportunities for the private sector and a new range of products for investors to diversify their portfolios.

Ranjit Ajit Singh, chairman of Malaysia'sSecurities Commission, said the move was a step towards integration of regional capital markets in line with the objectives of the Asean Economic Community.

"Asean has one of the highest savings rates in the world. Money can be reinvested in the region to generate returns and contribute to growth prospects. Investors and fund managers can benefit and leverage one of the most dynamic regions of the world, with a combined GDP in excess of US$2.4 trillion," he said.

Related search: investment, Malaysia

___

(c)2014 the Bangkok Post (Bangkok, Thailand)

Visit the Bangkok Post (Bangkok, Thailand) at www.bangkokpost.com

Distributed by MCT Information Services


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Bangkok Post (Thailand)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters