Yahoo New Zealand Business & Finance
2013.11
By Sam Thompson | Newstalk ZB
A move to promote New Zealand as a financial hub could see the creation of more jobs.
Finance Ministers representing Singapore, Australia, South Korea and New Zealand have signed a statement of intent, to develop an Asia Region Funds Passport.
It will allow New Zealand fund managers to offer investment products in those countries.
Chapman Tripp partner Tim Williams says currently there's mutual recognition only between New Zealand and Australia.
"The more that we can strip away the regulatory burden between countries for the offering of investment products, the more likely that there's going to be an efficient market for investors here and for fund managers here to offer their services overseas."
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