Schroders next to get Malaysia offshore money

Latest in raft of offshore funds launched by HLG Unit Trust
Schroder Investment Management has partnered with MalaysiaÆs HLG Asset Management, a unit of Hong Leong Bank, to sub-advise a new equity growth and income fund investing in Asia ex-Japan equities.

Its launch has been made possible by a recent relaxation of capital controls by Bank Negara, MalaysiaÆs central bank, enabling domestic fund managers to invest overseas for the first time in almost 10 years.

Bank Negara originally implemented the capital controls in 1998 to stop funds fleeing the country in the wake of the Asian financial crisis. But last year Bank Negara allowed fund management houses to invest up to 30% of total assets overseas, sparking a revival in the sleepy domestic industry.

Since March...
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