Fund houses must get better at active management or offer index products, say industry players. The scale that the Standard Life-Aberdeen merger would bring may facilitate such a move.
The Swiss asset and wealth manager is shutting its Hong Kong operation, a move that came as no surprise to market observers. More industry closures and consolidation are expected.
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.
The consultancy has established an investment fund centre in Singapore to cater to growing numbers of managers which are expanding outside their home markets. PwC is looking to hire managers and analysts.
The Asia Region Funds Passport scheme has published detailed draft rules and operational arrangements after incorporating industry feedback from a consultation process.
Many of the operational guidelines fall under each local jurisdiction, which could lead to delays and duplication. Time-to-market and costs are seen as potential obstacles.