Home » Business » Hong Kong and Thailand sign an agreement to open an offering for sale of mutual funds within the framework | RYT9

Hong Kong and Thailand sign an agreement to open an offering for sale of mutual funds within the framework | RYT9

The Securities and Exchange Commission (SEC) and the Securities and Futures Commission (SFC) Hong Kong signed a memorandum of understanding (MoU) on 20 January 2021 to prepare for the opening of a mutual fund offering between Hong Kong and Hong Kong. Thailand to general investors During the second quarter of 2021

The Investment Management Project between Hong Kong Special Administrative Region of the People’s Republic of China and Thailand (Mutual Recognition of Funds between Hong Kong Special Administrative Region of the People’s Republic of China and Thailand: HK-TH MRF) is a cooperation to facilitate asset management companies. Fund (Asset Management) in the offering of investment units between Hong Kong and Thailand As well as help strengthen the competitiveness of Thai entrepreneurs in the international arena And increasing product variety in the Thai capital market It is a project that uses the Mutual Recognition guidelines for mutual funds as the first project in Thailand.

SEC Secretary-General Ms. Ruenwadee Suwanmongkol said, “The HK-TH MRF project is another important step in bilateral cooperation between Hong Kong and Thailand. This is in line with the capital market cooperation guideline in accordance with the Memorandum of Understanding on enhancing economic relations between the Government of the Kingdom of Thailand and the Government of the Hong Kong Special Administrative Region. People’s Republic of China Which was signed on November 29, 2019, as well as as a result of a discussion between the top management of the SEC and SFC on May 30, 2019, the HK-TH MRF program will help strengthen Economic relations for concrete progress Including the capital market, both entities have agreed to shorten the time to consider the application for the establishment of a feeder fund offered for sale to general investors in the country immediately. They must invest in mutual funds that meet the terms of the HK-TH MRF (MRF-eligible master fund) program, which are considered to meet the investment criteria specified by each agency. Receive expedited review requests for approval “

Ashley Alder, Chief Executive Officer of SFC Hong Kong, said, “The HK-TH MRF program will help promote connectivity in capital markets in Asia. Which in addition to opening up business avenues And increased channels for mutual funds to be offered overseas to asset management companies Also giving investors more investment options “

Mutual funds that are generally approved, established and offered for sale from the home country, in accordance with the relevant home country rules and additional provisions in the MoU, can be offered for sale to investors. In other countries (host countries) through authorized investment units in host countries, the SEC will revise rules to accommodate mutual fund offerings under the program. Which is expected to be completed in the second quarter of 2021.

The HK-TH MRF Project is another cooperation framework that will facilitate the management of the asset management company in offering
Foreign investment units In addition to the ASEAN Collective Investment Schemes (ASEAN CIS) and Asia Region Funds Passport (ARFP), which were announced in 2014 and 2019, respectively.

Interested parties can learn more about the HK-TH MRF program at the website. https://www.sec.or.th/TH/Pages/LawandRegulations/MutualRecognitionFunds.aspx


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