Tuesday, 29 July 2014
Last updated 2 hours ago
May 12 2011 | 8:04pm ET
Singapore is staking its claim as the hedge fund capital of Asia and the place to be for managers seeking to tap into the region's investment opportunities and growing wealth.
"We continue to see interest from fund managers as well as alternative investment managers, including global and indigenous hedge funds, which add diversity to the broader asset management industry," Ng Nam Sin, assistant managing director of the Monetary Authority of Singapore, told Bloomberg News.
The most recent global manager to pick the city-state as its base of Asia operations is Boston-based Sirios Capital Management, which recently registered to open an office in Singapore. Sirios joins industry titans such as Fortress Investment Group and Algebris Investments in taking advantage of Singapore's low tax rate and soft-touch regulatory approach, which makes it cheaper and easier to set up shop there than in its main Asian rival, Hong Kong.
Ng said MAS would continue to "enhance the ecosystem for fund managers" as more and more managers look to the region.
"Given the increased focus on transparency and risk management by investors post-crisis, both global and indigenous hedge fund managers continue to build up their mid-back office infrastructure, and scale up their operations to tap the burgeoning Asian market," he said.
"Over the next 12 months, we are likely to continue to see interest by hedge funds seeking to tap Asia as a source of funds as well as a source of excess returns," Ng added.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…