Only 14% of asset managers rated the China-Hong Kong Mutual Recognition of Funds (MRF) as “highly effective”, ranking it the second-most ineffective cross-border fund distribution regime, according to a recent report by State Street. Just 55% of respondents viewed the MRF regime as “moderately effective” (41%) or “highly effective” (14%), ahead of only Australia’s Corporate Collective Investment Vehicle (CCIV), which…

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