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Coming soon: A 'passport' for investment in mutual fund schemes of other countries

Sebi, IOSCO and other Asian regulators working on concept to allow funds of one country to be sold to investors in another, without need for registering with regulator there

Ashley Coutinho  |  Mumbai 

The Securities and Exchange Board of India (Sebi) is working on the concept of 'passporting' - a unified regulatory mechanism that will allow Indian mutual fund (MF) schemes to be sold in other Asian countries without the need for exclusive regulatory approvals from the latter. Sebi is working with the International Organization of Securities Commissions (IOSCO) and regulators in other Asian countries to make this happen, said sources. The Indian asset management sector is estimated at Rs 16 lakh crore in size. If allowed, Indian MF schemes could be sold elsewhere without ...

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