SINGAPORE - Wealthy investors put $2.4 trillion in the hands of Singapore's asset managers last year, 30 per cent more than the year before, said the Monetary Authority of Singapore (MAS) on Thursday.
The regulator noted: "The robust growth was derived largely from positive asset inflows arising from Asia's growth dynamism and Singapore's position as a pan-Asian asset management hub."
Although there are growth opportunities, MAS also noted structural trends that could change the asset management industry.
Trends include Asia's wealth accumulation that leads to greater demand for investment solutions, and Asia's economic development continues to be attractive to international investors.
Investors' expectations have evolved, and financial technology is a potential
game changer for the industry -challenges that asset managers have to face.