The Lion City plans to introduce an open-ended investment company framework in the next 12 months, with a view to making it more attractive as a domicile for foreign fund houses.
Trevor Persaud of the Investment Management Association of Singapore says the industry body wants to help improve risk standards across Asia with the launch of its new guidelines.
Never have mutual-fund industry associations around Asia come together for a common cause, until Fatca.
Ng Nam-Sin of the Monetary Authority of Singapore spells out what authorities expect of asset managers doing business with Singaporean clients.
Funds that invest in emerging markets helped to prevent fund flows in Singapore from turning negative in the second quarter.
Net inflows to Singapore unit trusts totalled S$1.56 billion in the fourth quarter of 2007. Equity fund inflows were muted.