POWERED BY MOMENTUM MEDIA
Asian Region Passport gets tick of approval
Four countries, including Australia, signed a pledge last week to simplify funds transfers between Asia and Pacific nations.
Australia, South Korea, New Zealand and Singapore elected to go ahead with the Asian Region Funds Passport — a plan which would allow Asian investors direct access to Australian products — after four years of deliberations.
The pilot project is scheduled to launch in 2016.
Financial Services Council CEO John Brogden said the agreement had the potential to make financial services Australia's next major export industry and he hoped other economies got on board.
"This landmark agreement will mean Australia's fund managers will be able to access cross-border investment opportunities within Asia for the first time and take advantage of the strong demand for financial services in the region," he said.
"We expect the next six to 12 months will involve extensive consultation with the industry and regulatory bodies from the participating nations."
Recommended for you
New research has shown that investing in alternative assets and using active management has, to this point, delivered strong results for Australian super funds.
Australia’s $4 trillion superannuation industry is fundamentally reshaping the nation’s external accounts, setting the stage for a more sustainable current account surplus despite weaker commodity markets.
Rest has expanded its portfolio of renewable energy infrastructure by supporting a Victorian solar farm and battery project.
Economic growth was weaker than expected, once again highlighting an economy largely sustained by population growth and government spending.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
36.96 3 y p.a(%)
3
GAM LSA Private Shares AU I
34.22 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
VanEck Video Gaming and eSports ETF (AU)
28.89 3 y p.a(%)
