Regulators moving closer to creating an Asian funds ‘passport’ regime
Asian regulators are increasingly warming to the concept of an Asian funds passport similar to the Ucits directive of the European Union. This might result in the region having its own cross-border fund vehicle enabling funds to be freely 'passported' and marketed among eligible member jurisdictions.
A small group of Asian countries could take the lead in coming up with a multilaterally agreed set of new common regulations for an Asian funds passport regime similar to the Undertakings for Collective Investment in Transferable Securities (Ucits) directive that has enabled the passporting of open-ended funds across European member states since 1995.
Hon Cheung, regional director for official institutions at State Street Global Advisors in Singapore and co-author of Asian Funds Passport to
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