Man Investments has announced plans to open an office on George Street in Singapore.

The new office will be headed by Tim Peach, head of sales for Man Investments in Southeast Asia. He will be joined by two other members of staff and there are no concrete plans at this stage to grow the team any further. In Singapore, there is already a team from the RMF wing of Man, which is searching for hedge fund managers in which to invest.

A spokesperson for Man Investments told AsianInvestor that the growth of demand and emergence of Singapore as a regional hub necessitated this expansion. Peach will work closely with Man's Singapore-based intermediaries from where 80% of investments from the Southeast Asian region are sourced, and he will build on relationships with institutions.

James Man, founder of the group, started supplying rum to the British Navy in 1783, well before Sir Stamford Raffles sailed east to the Indies, establishing Singapore in 1819. In the 1990s, ED&F Man International acquired Standard Chartered's brokerage operation, establishing a presence in Singapore and later bought Tullett's futures & options business in Singapore.