Singapore’s central bank is partnering with the private sector in a new group to help develop the city state’s S$4 trillion (US$3.01 trillion) asset management industry.
The Singapore Funds Industry Group or SFIG brings together key players from across the entire asset management industry, including fund managers, lawyers, tax advisers, fund administrators and directors.
It will “identify emerging industry trends and formulate strategies to develop the asset management ecosystem”, the Monetary Authority of Singapore (MAS) says in a statement on April 27.
The partnership is aimed at strengthening Singapore’s “value proposition as a leading full-service asset management and fund domiciliation hub”, according to the central bank.
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