Thailand signed up to the cross-border scheme this week, AsianInvestor can reveal, but the head of the local securities watchdog says take-up may be slow, at least initially.
Australia, Japan, Korea and New Zealand today signed the Asia Region Fund Passport’s memorandum of cooperation, which will come into effect on June 30.
Industry welcomes move by Singapore's financial regulatory authority to go public with tax criticism of ARFP passport scheme. They say it could force Australia and Korea into a corner.
Singapore’s regulatory authority has issued a clarification to AsianInvestor explaining why it chose not to sign the Statement of Understanding for the planned fund passport scheme.
Six nations signed a statement of understanding to join the Asia Region Funds Passport at the Apec finance ministers meeting in Cebu. However, Singapore was not among them.
The Japanese asset manager is looking at alternative ways of distributing its products in Asia such as through private banks, its Hong Kong head tells AsianInvestor. It also has plans to boost its headcount.