SEC allows creation of ‘umbrella funds’ to deepen local capital market

MANILA, Philippines — The Securities and Exchange Commission (SEC) has rolled out new rules governing “umbrella funds,” allowing multiple subfunds to operate under a single investment company. Under SEC Memorandum Circular No. 14, Series of 2026, the regulator defined an umbrella fund as an open-end investment company composed of two or more subfunds with segregated […]... Keep on reading: SEC allows creation of ‘umbrella funds’ to deepen local capital market

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