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Singapore, Hong Kong woo family offices with different game plans

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Singapore has become more discerning about the quality of funds it seeks. Hong Kong continues to roll out the red carpet for the world’s richest families.

Singapore has become more discerning about the quality of funds it seeks. Hong Kong continues to roll out the red carpet for the world’s richest families.

PHOTOS: LIANHE ZAOBAO, ST MAGDALENE FUNG

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SINGAPORE – Singapore and longstanding rival Hong Kong are fighting tooth and nail to attract family offices, but while they share the same goal, their game plans are quite different.

Hong Kong continues to roll out the red carpet for the world’s richest families whereas Singapore, which has grown in appeal due to tensions between the US and China, has become more discerning about the quality of funds it seeks.

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