Monday, 25 May 2015
Last updated 2 days ago
Apr 29 2011 | 2:25pm ET
Singapore’s strong currency has inspired California-based Tano Capital to open an office in the Southeast Asian city-state.
Tano, the family office of the founders of Franklin Templeton Investments, will change the jurisdiction of the Tano Global Hard Assets Fund to Singapore from Delaware, spokesman Charles E. Johnson told Bloomberg.
The fund will be denominated in Singapore dollars starting next month. The Singapore currency has risen 11% in the past 12 months, making it the best performer in Asia ex Japan.
“The Singapore dollar is a much more sensibly managed currency than a lot of other currencies; we would love to give our investor base, which is global, that opportunity,” said Johnson. “The currency will remain one of the stronger ones globally.”
In April, Singapore’s Monetary Authority said it would allow the currency to make further gains, as it tightened monetary policy for the third time in a year. Singapore controls the currency through its exchange rate, rather than interest rates.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…