Singapore Hedge Fund Start-Ups

Singapore Competing With Hong Kong for New Hedge Funds

Singapore is competing with Hong Komg to attract new hedge funds. New hedge funds are launching in Singapore after the country approved a new law that doesn't demand a licensing requirement. This has allowed Singapore to compete directly with Hong Kong as a popular hedge fund destination.

Singapore hedge fund startups are on the rise after the central bank approved new rules that didn’t impose a licensing requirement on most funds.

Seven new hedge funds set up in May and June, according to Eurekahedge Pte, after the Monetary Authority of Singapore said in April that small funds can keep operating without a license as part of its review. The number of new funds last year fell 13 percent to 26, the lowest since 2003, as uncertainty over pending rule changes kept managers away, according to data from the Singapore-based industry researcher.

“Singapore did not shoot itself in the foot by putting up proposals that will kill off the business,” said Kher Sheng Lee, a senior associate in the financial services group at Philadelphia-based law firm Dechert LLP in Hong Kong.

Source

Related to: Hong Kong and Singapore Hedge Funds

Tags: Hong Kong, hedge funds, singapore, singapore hedge funds, hedge funds in Singapore

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