Europe’s Ucits fund structure is gaining popularity in Asia despite the development of regional product passporting schemes, says Standard Chartered’s head of securities services.
The asset manager is readying its first pan-Asia Ucits fund and considering adding other products to its hedge fund platform, including mainland, macro and multi-strategy offerings.
With the UK planning a hard separation from the European Union in 2019, Asian service providers in London need to start making plans.
Industry participants are questioning the motivation behind and benefits of Hong Kong's new agreement with Switzerland on mutual recognition of funds.
The ambitions of Asian countries to build local fund capabilities is competing with Ucits, the traditional cross-border fund vehicle. Industry experts discuss the ramifications in a webinar.
It would make little sense for China to accept Ucits funds or to merge with other Asian passport schemes, says Sean Tuffy, head of regulatory intelligence at custody bank BBH.