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Singapore Hedge Fund Rules

Singapore Hedge Fund Rules

Singapore Begins First Review of Its Hedge Fund Rules

Singapore is reviewing its rules for hedge fund and private equity investment since it began attracting alternative asset fund managers eight years ago with various incentives.  The Monetary Authority of Singapore has decided to review its policies toward hedge funds and private equity firms in order to be "responsive to the changing needs of the various stakeholders in the fund management industry," according to a recent statement.  This comes at a time when hedge funds are under intense scrutiny worldwide.

Hedge funds and private-equity firms are under scrutiny from regulators and lawmakers worldwide, who say they are partly to blame for the worst financial crisis in a generation. Singapore’s hedge-fund industry has grown into Asia’s second biggest behind Hong Kong as the government lured investment management professionals with tax incentives and grants.
“They’re aware of the need to find the right balance,” said Melvyn Teo, a director at the BNP Paribas Hedge Fund Centre at Singapore Management University. “It will make Singapore less appealing to really small, young hedge funds, but the industry is maturing at the moment. We might still be quite attractive to more established larger ones.”
Hedge funds worldwide posted net outflows of $285 billion last year, leaving assets at $1.6 trillion, according to Hedge Fund Research Inc., a Chicago-based research firm.  Source


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