Indonesia funds body warns of need for change

An Indonesian funds body has stepped up lobbying of its financial services regulator to prise the nation open to offshore investment, warning it has started to fall behind neighbouring nations. The Indonesian Association of Mutual Fund Managers, representing 65 fund houses and custodians, has created a working group to raise the limit on mutual funds offering domestic investors exposure to international markets. Denny Thaher, the body’s chairman, told AsianInvestor its members w…