The Malaysian manager is to launch two funds in Singapore under the Asean collective investment framework. These will become the first to be passported under the scheme.
Standard Chartered has been named as Maybank Asset Management's trustee for the first sharia-compliant fund on the Asean passporting scheme. Questions hang over when it will be passported outside Malaysia.
The Malaysian fund firm is understood to be looking to expand its retail presence to the city-state for the first time this summer as it targets the Asean passport scheme for growth.
Thailand’s biggest asset manager has seen a sharp uptick in flows into its foreign feeder funds and is working on building teams with a view to launching Asean products.
The head of Thailand's SCB Asset Management points to obstacles for foreign firms under the Asean passport scheme. Meanwhile, the firm's parent bank is moving to partner overseas players.
The Securities Commission has responded to suggestions it is moving too slowly in terms of implementing the Asean Collective Investment Scheme compared with other countries.