PwC Asset Management CEO Series 28 March 2014

Asset Management 2020 Still no uniform access for offshore funds in Asia Market Access SICAV Direct Hong Kong Developed Asia Typical Offshore Fund Legal Structure Singapore Region SICAV Direct FCP / SICAV Direct Fund of funds + Master Feeder funds Indirect SICAV Direct Onshore feeder funds and wrappers, fund of funds & masterfeeder funds Direct and Indirect Country Japan Australia Taiwan Developing Asia Korea China India Emerging Asia Closed Closed Malaysia Thailand Indonesia Source: Cerulli Associates, PwC Research PwC Onshore feeder funds and wrappers, fund of funds & masterfeeder funds Closed Indirect Indirect

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