Asia passports could merge in five years: State Street

Far from competiting with each other, Asia’s three proposed funds passport schemes will become gradually aligned and merge with each other within the next decade, says State Street. Chris Taylor, senior managing director and head of business development for Asia Pacific, sees recent announcements about cross-border distribution programmes in Asia as a key starting point. Malaysia’s Securities Commission, the Monetary Authority of Singapore (MAS) and Thailand’s Securities and Exc…