While many asset managers have offices in Singapore, most of their funds are still registered in offshore jurisdictions. It will also allow funds to use both Singapore and international accounting standards, according to the MAS statement. BlackRock Inc and Fidelity Investments are among global fund managers that do business in Singapore and that are seeking to capitalise on the region’s economic expansion and ballooning wealth. Assets under management in the Southeast Asian nation rose 7% to S$2.7 trillion (64 trillion baht) in 2016, MAS data show. Last year, it simplified the regulatory framework for venture-capital managers and consulted on licensing requirements to allow for digital-advisory services.

Source: Bangkok Post September 11, 2018 08:15 UTC