Thai rule changes to benefit foreign fund managers

The financial market overhaul under way in Thailand, which is expected to be completed this year, will help offshore asset managers compete with their local counterparts. However, some domestic firms will retain the advantage of having a local distribution arm ready-built into their businesses. Thailand's Securities and Exchange Commission (SEC), the capital-markets regulator, wants to create a more open fund market, says Somchai Boonnamsiri, Bangkok-based chief executive at Krungtha…