Confidence wanes on cross-border schemes

Confidence in some of Asia’s fund passport and cross-border trading schemes has weakened, while others have risen in popularity, according to AsianInvestor and Clifford Chance’s 2016 annual asset management survey*. For one thing, the long-awaited China-Hong Kong mutual recognition of funds (MRF) scheme has not been as successful as was hoped, while the Asean Collective Investment Scheme has proved limited despite its first-mover advantage. MRF remains the scheme most widely expec…