KUALA LUMPUR, Aug 29 — The Securities Commission Malaysia (SC) today announced a slew of liberalisation measures for the fund management industry, including the introduction of the Foreign Exempt Scheme (FES) framework.
The framework allows high net-worth entities and institutional investors greater onshore access to foreign investment funds.
The regulator also introduced flexibility to wholesale fund managers seeking to invest in alternative investment products beyond current conventional assets such as securities, derivatives, money market instruments and deposits.
These measures demonstrate the SC’s continuous commitment to enhance the depth and breadth of the capital market, chairman Datuk Seri Dr Awang Adek Hussin said in a statement today.
“The FES framework opens up new avenues for high-net-worth entities and institutional investors to access funds offered by foreign players related to a SC-licensed fund management company.
“Additionally, these measures enable fund managers to offer more products and investment choices to investors locally,” Awang Adek said.
The revised guidelines took effect today, including the guidelines for the Offering, Marketing, and Distribution of Foreign Funds (OMD Guidelines) and Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework (UCMP Guidelines).
The revised OMD guidelines allow the secondary listing of non-plain vanilla foreign exchange-traded funds (ETF), promoting more investment opportunities in the Malaysian market, subject to five such ETFs per foreign operator. — Bernama
