The Securities Commission will cooperate with the EU under the Alternative Investment Fund Managers Directive. But the number of Malaysian fund houses marketing to European investors may be limited.
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Asian fund houses are about to face heightened scrutiny when asset gathering in Europe, meaning some firms may avoid the continent altogether.
Yang Qiumei’s international experience and relationships will be crucial to her role as head of the fund-focused regulatory trade body’s new Hong Kong office.
A private equity COO fears rule tightening is too broad-brush and will inflate costs, while a fund-of-hedge-fund COO says clarity is needed over new reporting requirements.
Making custodians liable for asset losses would raise costs sharply, lead to consolidation and alter the way the industry operates, agree summit participants.
Some are waiving fees to prevent negative yields for investors and that’s hitting top-line growth, even as regulatory changes support their business models, reflects Northern Trust.
New guidelines around structured exchange-traded funds in Europe could help swaps-based products win broader acceptance.
Nadia Calviño of the European Commission explains that new rules in alternative investments will be applied to Ucits funds as well.
Market operator Multifonds sees no prospect of Ucits falling out of favour in Asia, unless Europe imposes a financial transaction tax.
Accessing European investors will be more difficult for Asian hedge funds under proposed rules issued by the European Commission.
