Since the Monetary Authority of Singapore (MAS) proposed new rules that would permit small hedge funds (< SGD250 million AuM) not to have to be licensed, the numbers of start-ups have been on the rise, reports Bloomberg. According to the latest figures by Eurekahedge, the Republic became home to seven new hedge funds in May and June, its favourable regulatory framework making it an attractive alternative to Hong Kong. Provided a hedge fund has fewer than 30 qualified investors, at least two directors and no less than SGD250,000 in paid-in capital it can choose not to be licensed by informing MAS in writing: although it must abide by corporate and AML legislation. According to Peter Douglas (pictured), principal of GFIA Pte and council member for the APAC region, this is less of a new decision and more of an evolution. “It represents an incremental tightening of the current regime,” Douglas tells Hedgeweek via email. “It does not impact the (much larger) regulated section of the asset management industry in Singapore.”


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