WITH unit trust management companies (UTMCs) getting the nod from the Securities Commission (SC) to unify their unit trust and asset management operations in line with amendments to the Securities Industry Act, and the recent Bank Negara ruling allowing more unit trust funds to be invested abroad, the stage is set for the fund management industry to make further inroads into the international markets.
Unit trust companies can now invest abroad 30% of the aggregate net asset value of all funds under management from 10% previously.
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