New investment funds framework needed: survey

[SINGAPORE] Singapore needs a new investment funds framework if it is to progress to the next phase of development, a survey of asset managers has found.

The survey was conducted by PwC as part of its groundwork for a White Paper on the reinvention of Singapore's fund industry. The White Paper is expected to be released next month.

Hong Kong is also expected to reform its funds framework to allow the establishment of open-ended investment companies (OEICs), to encourage more funds to set up bases in Hong Kong.