Opinion widely split over future of ARFP
One funds veteran says the Asia Region Funds Passport will not succeed, while another argues it could prove the most important of the region’s three cross-border product initiatives.
Wildly differing views are circulating about the future of the Asia Region Funds Passport, seen by many as the most ambitious of the three passporting initiatives in the region.
On the one hand, a business head at a European asset manager and 20-year Asia funds veteran believes ARFP is likely to fail – and he is not alone in taking that stance. On the other, Nicholas Hadow of Aberdeen Asset Management suggests it is the passport scheme that industry players in Asia are now most excited about.
The ARFP – which was signed by Australia, New Zealand, Singapore and South Korea in September 2013 – targets next year for a pilot launch for cross-border fund sales. The Philippines and Thailand have since joined the discussions.
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