Magazine issues » December 2017


Singapore_cityThis year has been an important one for the industry in Singapore, with technological innovation, regulatory developments, robust merger and acquisition activity, business growth and wider engagement across the board in terms of outsourcing and the ecosystem of service providers. The Singapore Fund Administrators Association (SFAA) also celebrated its tenth anniversary in 2017, an important milestone. Chairman Martin O’Regan said: “As our base of members widens, now over 50 and growing, and the challenges of operating in the industry increase, the SFAA strives to be the representative body at the forefront of regulatory and advocacy initiatives, promoting Singapore as an ideal jurisdiction for fund managers and funds, and providing our members with the platform and tools to thrive in an increasingly competitive global environment.” Over the past decade, Singapore has established itself as a leading asset management centre. That, to a degree, has been driven by the efforts of service providers, including banks, law firms, accountancy and audit firms, tax advisers, compliance consultants, fund and corporate administrators, trustees and related software and application providers. The main driver, however, have been the Singapore government, Ministry of Finance, tax authorities and the Monetary Authority of Singapore (MAS), which continue to focus on strengthening the frameworks under which the industry operates. An example of this is the MAS-led public consultation in March 2017 on a proposed corporate structure for investment funds, the Singapore variable capital company (S-Vacc). The industry responded positively and S-Vacc is expected to play a critical role in the growth of Singapore’s funds industry. The corporate structure will also come with a dedicated tax regime. The MAS is in the process of responding to the public consultation and aims to implement the framework in 2018. In addition, following a consultation, the MAS announced in October that a simplified regulatory regime for venture capital fund managers would come into effect. This was welcomed by the industry, with a number of managers submitting applications for a capital markets services licence in preparation for launching their VC funds in 2018. SFAA vice chairman Imran Khan said: “Both the SFAA’s members and partners have consulted on the S-Vacc and the simplified regulatory regime for venture capital fund managers, providing the MAS with recommendations to further strengthen the industry and enhance the attractiveness of Singapore as a regional hub for investors to access global markets and private market opportunities in Asia. Singapore has also reinvigorated its interest in the larger fund passporting scheme, the Asian Region Funds Passport, which is another game-changer for the industry in the region.” The SFAA believes that with a conducive pro-business environment, skilled workforce, high regulatory standards, robust corporate governance framework, growing tax treaty network, membership of global task forces and an exceptional ecosystem of service providers, the coming years will see continued growth, a widening of the sectors and areas of focus, and increased job and value creation across the funds industry. By the Singapore Fund Administrators Association ©2017 funds global asia

Digital Features

Digital Features

How Covid has kickstarted the move to automation in Asia

Oct 15, 2021

Leo_ChenFunds Global Asia talks to Calastone’s Leo Chen about the impact of the pandemic on the adoption of automation across Asia’s funds markets.

Inside view: What investors are missing without a dedicated China equity allocation

Sep 27, 2021

Simon CoxeterWithout dedicated China equity allocations, investors miss an exceptional opportunity to enhance their portfolios’ prospective risk-adjusted returns, and fully capitalize on the diversification and alpha offered by China’s public equity space.

Executive interview: PGIM CEO on where the ESG flowers should bloom

Sep 27, 2021

David_HuntDavid Hunt, president and chief executive of PGIM, tells Romil Patel about leading a top 10 global asset manager in times where “empowering and encouraging the kind of investment decisions as close to the assets as possible gets you the most power” and more.

Inside View: Why infrastructure debt is Asia’s growing asset class

Aug 16, 2021

The infrastructure investment needs in Asia Pacific are enormous – underpinned by strong economic growth, relatively underserved existing infrastructure and favourable macro and demographic themes, writes Simon La Greca of AMP Capital.

Executive Interviews

Executive interview: PGIM CEO on where the ESG flowers should bloom

Sep 27, 2021

David Hunt, president and chief executive of PGIM, tells Romil Patel about leading a top 10 global asset manager in times where “empowering and encouraging the kind of investment decisions as...

Executive interview: Nicolas Moreau’s orderly transition

Jul 12, 2021

Nicolas Moreau, CEO of HSBC Asset Management, is moving to Asia as the firm looks to connect more directly with the region’s growth story. ESG is also a key focus – including the ‘just’ carbon...


Roundtable: How well geared are Japanese assets for a new world?

Jul 12, 2021

As we prepare to emerge from Covid, experts look at overcoming demographic issues through a combination of good tech and corporate governance, improving productivity and meeting an ambitious government carbon emissions reduction target. Chaired by Romil Patel.

Hong Kong roundtable: Increasing China’s prominence as an asset class

Mar 04, 2021

Our line-up of experts in Hong Kong considers the importance of fixed income ETFs, sustainability and the prospects of increasing China in the indices. Chaired by Romil Patel.