Singapore Hedge Fund
Singapore Working to Attract More Hedge Funds
Singapore is attracting more global hedge funds that are drawn to Asia’s economic growth as the regulator seeks to further develop the industry, including building up fund administration services.
“We continue to see interest from fund managers as well as alternative investment managers, including global and indigenous hedge funds, which add diversity to the broader asset management industry,” Ng Nam Sin, assistant managing director of the Monetary Authority of Singapore, wrote in an e-mailed response to questions.
Global managers including Fortress Investment Group LLC and Algebris Investments LLP have set up in Singapore as Asia’s economic growth outpaces the world. The region now has as many millionaires as Europe and they are set to increase allocations to alternative investments, including hedge funds, to 8 percent of their portfolios this year, from 5 percent in 2009, according to a Capgemini SA and Merrill Lynch & Co. report.
“Asia is a region which has and continues to attract significant capital, and hedge funds will follow the movement of capital globally,” said Tim Rainsford, the Hong Kong-based managing director of Man Investments in Asia. Source