Philippines issues ETF rules

The Philippine Stock Exchange (PSE) has issued rules for the listing of exchange traded funds (ETFs), paving the way for the introduction of the investment product in the market.Under the rules, an ETF planning to list on the PSE must have a minimum asset base of Ps250 million ($6.15 million) for local entities and $10 million for foreign funds.The fund management company offering the ETF to the public must pass the PSEÆs requirements for investment managers. Once an ETFÆs registratio…