Asia: Singapore’s asset under management increased by 7%

The Monetary Authority of Singapore (MAS) recently published its annual financial survey in end September this year. According to the result, Singapore’s total asset under management has increased to SGD 2.7 trillion in the past one year, 7% higher compared to last year.

This result was welcomed since the increment marks global recovery in the industry and improvement in market valuation. Although the increase shows good signs, the increment of 7% is slightly lower compared to 9% increase in 2015.

The growth, however, is still aligned with MAS’s strategy in making Singapore a key financial hub in the region. According to a MAS’s spokesperson, “Singapore will continue to deepen its venture capital and private equity capabilities and establish itself as a vibrant enterprise financing hub to support the next generation of Asian growth companies."

Consequently, MAS has proposed several regulatory frameworks to support the incorporation of investment funds to meet this goal.

According to RFi Group data, wealth accumulation and preservation are top 2 goals among affluent priority banking customers. The frameworks regulated by MAS to facilitate incorporation of investment will likely support the goals to achieve wealth accumulation and preservation among affluent banked customers in Singapore.

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