Australian funds managers will gain cross-border access, and the financial services sector will benefit from the Japan Australia Economic Partnership Agreement (JAEPA), the Financial Services Council said (FSC).
Following the announcement of details of the JAEPA, FSC CEO John Brogden said Australia and Japan will “mutually benefit” from increased trade in financial services.
“Japan and Australia have large and mature financial services markets,” he said.
“Japan has an ageing population and one of the world’s largest financial services markets. It is a significant trading nation for Australia.”
Fund managers who provide investment advice, portfolio management services and trade in wholesale securities transactions can get cross-border access.
He added Australian fund managers can now deliver financial products and open doors to business in emerging financial services sectors in Japan.
“Initiatives like the Japan Free Trade Agreement and the Murray Review will help deliver outcomes that facilitate Australian financial services exports to Asia and an export-oriented and globally competitive Australian financial services industry,” he said.
The free trade agreement was locked in by Prime Minister Tony Abbott and Japanese Prime Minister Shinzo Abe in April after seven years of negotiations.
Brogden said this agreement and the Murray Review would help with Australian financial services exports to Asia and promote a globally competitive Australian financial services industry.
Over 90 finalists have been chosen to compete at the 36th annual Fund Manager of the Year Awards.
The asset manager is bolstering its investments in the global energy transition and climate opportunities.
The ethical investment manager has reported record FUM as its growth trajectory continues apace.
The chief investment officers of UniSuper, HESTA, and TelstraSuper have elaborated on opportunities and risks that are top of mind when it comes to illiquid assets like private credit within their portfolios.
Add new comment