Syed Zaid Albar, chairman of the SC congratulated SEC Philippines, saying: “Under the Asean CIS Framework, retail investors are able to tap into a wider choice of funds from beyond their borders, and fund managers can offer their products cross-border under an efficient approval system.

“The addition of the Philippines to the three existing jurisdictions under the Framework broadens the range of regional funds for portfolio diversification, and we hope for more participation from our Asean counterparts in the future.”

SEC Philippines’ chairperson Emilio Aquino, said: “We deeply appreciate the tireless efforts and dedication of SC, MAS and SEC Thailand in facilitating the admission of the Philippines into the Asean CIS Framework, especially members of Asean CIS Working Group B who played important roles in achieving this significant milestone, thereby allowing us to participate and be able to showcase our collective investment schemes.

“The expansion of the Asean CIS initiative to the Philippines further strengthens connectivity in the Asean region. As the fourth signatory to the Framework, we will also endeavour to work together with other signatories in encouraging other Asean countries in joining the Framework and in promoting cross-border offerings of Asean Funds.”

Lim Tuang Lee, assistant managing director (Capital Markets), MAS, said: “SEC Philippines’ participation in the Asean CIS Framework marks a progressive step towards greater integration of Asean capital markets.

“The enhanced reach of the platform will open up new opportunities and markets to both fund managers and investors in participating member states. We welcome SEC Philippines’ participation, and look forward to more Asean members joining the framework.”

Ruenvadee Suwanmongkol, SEC Thailand’s secretary-general, said: “We are delighted to welcome the Philippines as a new signatory to the Asean CIS Framework, which fosters more inter-connected, inclusive, and resilient Asean capital markets.

“This new partnership will create more business opportunities and strengthen economic cooperation among Asean member states while enriching the pool of funds available for investment in Asean. We look forward to the participation of more Asean member states in this framework over the coming years.”