HK-domiciled platforms must go global: custodians

Asset managers mulling setting up Hong Kong fund platforms should develop global products from the get-go rather than focusing only on Asian underlyings, say custodians. Otherwise, they argue, mainland investors will show little interest in the Hong Kong-China fund mutual recognition agreement (MRA). Some international fund houses are already making moves on this front. This should create a wider range of onshore products that is currently lacking, as qualified domestic institutio…