Smaller fund management firms still going strong despite regulations
Latest data shows number of players under stricter regime stands at 260
Published on Aug 25, 2014 8:27 AM
Tighter regulations for smaller fund management companies have not stopped the growth of such players in Singapore.
Higher standards in auditing and stricter capital requirements have, however, meant that "less serious" fund management service providers have dropped out of the industry altogether.
The latest figures provided by the financial regulator, the Monetary Authority of Singapore (MAS), showed that the number of Registered Fund Management Companies (RFMCs) stood at 260 as of last Thursday.
This scheme was introduced in August 2012 to strengthen the regulatory regime for the fund management industry, particularly the smaller players.
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"There was a bit more work during the period of transition naturally, because we had to do more paperwork, but subsequently it has been manageable."
- Rainforest Research director of investments Richard Choong
- Set up in 2010
- Manages more than US$5 million in assets
- One of early migrants to new scheme in 2012