Ministers sign landmark deal for Asia funds passport
Apec ministers from Singapore, South Korea, Australia and New Zealand agree to develop a framework to facilitate regional cross-border fund sales in a move that could reshape the industry.
In a landmark move that promises to reshape the Asia-Pacific asset management industry, four nations have agreed to start a pilot programme to pave the way for a regional funds passport.
At the Asia Pacific Economic Cooperation (Apec) meeting in Bali, Indonesia, last Friday, finance ministers from Australia, New Zealand, Singapore and South Korea signed a statement of intent to develop a passport to facilitate cross-border fund sales. The understanding is that other Asian markets …
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