Taiwan’s “deep cultivation” AM plan draws criticism

A scheme that encourages foreign fund houses to cultivate local talent and encourage more investment in Taiwan’s asset management industry could be discouraging product innovation and hurting investor interests. That's the view of some market participants after the Securities and Futures Bureau (SFB) recognised nine foreign fund houses for their commitment to the local market as part of its “deep-cultivation plan”. The scheme grants winning fund houses preferential treatments fo…