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Asian economic growth attracting hedgies to Singapore says MAS

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Global hedge funds are increasingly being drawn to Singapore on the back of Asian economic growth according the Monetary Authority of Singapore, reported Bloo

Global hedge funds are increasingly being drawn to Singapore on the back of Asian economic growth according the Monetary Authority of Singapore, reported Bloomberg this week. Whilst conceding that fund administration services needed to strengthen, hedge funds both global and local are setting up in the Lion City thanks to its favourable regulatory regime. Unlike Hong Kong, where hedge funds have to be licensed, those in Singapore can apply to MAS to operate as Exempt Fund Managers provided they meet capital requirements and manage less than SGD250million in AUM. “The profiles of hedge-fund managers and strategies employed by them in Singapore remain highly varied,” MAS assistant managing director Ng Nam Sin was quoted as saying. He added that both the central bank and financial regulators would continue to “enhance the ecosystem for fund managers” such as building out fund administration services. With a favourable tax regime and one of the highest qualities of life in the world, Singapore has myriad attractions for US and European fund managers facing the spectre of heavy regulations. And with improving economic fundamentals, Ng said it was likely interest would continue to be seen in hedge funds looking to “tap Asia as a source of funds as well as a source of excess returns”.     

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