Asean agreement on investment funds
The Securities and Exchange Commission of Thailand (SEC), the Securities Commission Malaysia, and the Monetary Authority of Singapore have signed a Memorandum of Understanding to enhance the Asean Collective Investment Schemes (CIS) Framework, according to a press release from the Thailand SEC on Tuesday.
The release said the framework “enables fund managers operating in one jurisdiction to offer funds constituted and approved in that jurisdiction to retail investors in the other two jurisdictions under a streamlined authorisation process”.
This revised framework seeks to promote more cross-border offerings of Asean funds, it said.
“Among the key enhancements to the framework is it enables a wider range of fund managers to participate in the framework by lowering qualifying criteria to US$350 million (nearly Bt11 billion) assets under management from the US$500 million,” the SEC said.
