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A Contrarian Streak Compared with Matthew 25, the Templeton Foreign fund is a Leviathan.
Not all foreign fund managers are ready to jump back into Southeast Asia.
It would also apply to any foreign fund that had at least 14 American investors.
It has a reputation for clean governance—"The best-run firm in India," says a foreign fund manager.
Foreign fund managers say that they are getting a much warmer reception than they used to from Japanese pension funds.
In Singapore, for example, a foreign fund cannot even register unless it is managed entirely in that market.
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Above all, it wants to let foreign fund-managers and brokers into the domestic share market.
But members of the commission say Ennahda objected only to the restrictions on foreign fund-raising.
Although such methods may have had a short-term impact in shoring up the stockmarket, they have put many foreign fund-managers off for good.
To that end, it hopes that foreign fund-managers will form joint ventures with local companies to launch open-ended funds and other forms of collective investment.
Bangkok rose almost as much, helped by foreign fund-managers' buying; and Seoul, last year's star performer, started the year with a rise of 8.9%.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com