Assets managed by Singapore-based fund managers up 24% in 2006
By Yvonne Cheong, Channel NewsAsia | Posted: 04 July 2007 1443 hrs
The figures were announced on Wednesday by Senior Minister Goh Chok Tong, who's also chairman of the Monetary Authority of Singapore (MAS).
Speaking at the Nomura Asia Equity Forum, he noted that total assets managed here have grown robustly over the last six years.
Sources of funds flowing into and through
Some 84% of the assets under management last year were sourced from outside
Said SM Goh: "The critical mass of asset management activity in
"Fund managers continue to use
Foreign asset managers contributed for the bulk of the growth last year.
The number of hedge fund managers jumped by 76 percent, managing over S$40 billion.
The strong performance of regional stock markets last year meant that equities were a favourite, making up 55 percent of total assets managed.
The senior minister also noted that global financial institutions could tap into 
"Interest has centred on servicing Asian investors - primarily on project financing and loan syndication. I encourage you to take a wider perspective - consider making commercial banking, corporate finance, capital market services and private banking part of your long term growth strategy. You can explore possibilities for collaborating with Singapore-based financial institutions with strong know-how," urged SM Goh.
Mr Goh also noted that political integration is progressing more slowly than economic integration, as Asia is more diverse - politically and culturally - compared to
However, he added the basic direction has been set and the deepening integration will create the conditions and framework for the private sector to grow. - CNA/ch/ls
What are your CPF OA funds drawing 2.5% or 24% gains?
If your CPF Ordinary Account (CPF OA) is still drawing 2.5% p.a. from CPF Board, then you are missing out on potential earnings for your nest egg when you retire!
Current Singapore-based fund managers are up 24%!!!! That is close to 9X earnings / interest of what you are getting now with CPF Board.
3 comments:
Insure.. against health costs.. are creating health problems Lee
Don't be an idiot.
And don't mislead people.
"Assets managed by fund managers based in Singapore grew by 24 percent last year to reach S$891 billion"
AUM grew 24%.
AUM = Assets under management.
It's talking about fund inflow. From more people investing, or perhaps funds from abroad.
Don't equate that to performance gain. They are NOT the same thing.
As a "Financial Advisor", you should know better than that.
It's elementary basics.
AUM could have grown 24%, but % returns on AUM could be more or less than 2.5%. It's not 9x CPF interest.
Likewise, CPF can payout 2.5%, but AUMs could grow 10%/20% even 30% if more people are contributing to CPF.
You. Check what you claim.
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