Indonesia sub-advisory business beckons foreign fund houses

Indonesia is set to provide international fund firms with a growing pool of sub-advisory business, after JP Morgan Asset Management recently won the first such local mandate for an Islamic global equity fund.  Since November, domestic fund houses have been able to launch sharia-compliant products that can invest 100% of their assets offshore, and local investor interest in international assets is seen to be rising. Moreover, Indonesia’s Financial Services Authority, Otoritas Jasa …