The Securities and Exchange Commission (SEC) has announced the requirements for Southeast Asian funds to be offered in the country and vice versa.
The Southeast Asian country is the newest signatory to the Association of Southeast Asian Nations (Asean) Collective Investment Schemes (CIS) framework.
Seven fund managers have joined the cross-border Asean Collective Investment Scheme since it opened in 2014.
The Securities Commission Malaysia, the Monetary Authority of Singapore and the Securities and Exchange Commission of Thailand have signed a memorandum of understanding to relax rules in the Asean Collective Investment Scheme (CIS).
Feeder funds are gaining traction in Southeast Asia, as local investors warm to geographic diversification of investments.
Asia’s various fund passport schemes present a longterm challenge to the dominance of UCITS funds, which make up the bulk of products for sale in Asia.