17 May, 2019
Last week, Mr Ong Ye Kung, Singapore’s Education Minister and board member of the Monetary Authority of Singapore (MAS), outlined how Singapore is well-poised to be a fund hub in Asia in a keynote speech at the start of the annual Investment Management Association of Singapore (IMAS) conference.
The structure, known as the Variable Capital Company (VCC) is meant to entice fund managers to base and run their fund management business in the Republic. The structure will put Singapore in the same league as other global fund hubs.
The Government estimated then that the VCC structure could create over 1,000 new jobs for the fund management industry in the first two years upon its introduction. New business opportunities for a wide range of professions in Singapore would also be created.
With the estimation that Assets Under Management (AUM) in the Asia Pacific are expected to almost double from 2017 to approximately S$40.9 trillion in 2025, Asia Pacific continues to be an attractive place to invest in. Click here for full article.
For further information, please contact:
Justin Kendrick, Head of Investments Solutions, Ingenia
contact@ingenia-consultants.com
