‘Can’t afford 6 more months of silence’: Singapore could gain edge over HK with asset management push
Analysts say MAS’ announcement is timely and sends a ‘strong signal’ of Singapore’s drive to grow the sector
Singapore's move to unveil a broader set of measures to bolster its asset management sector is seen as a timely and decisive step by industry observers. The new measures aim to strengthen the Republic's position as a leading hub for asset management, potentially giving it an edge over Hong Kong in the regional race. Analysts believe the announcement sends a "strong signal" of Singapore's commitment to growing the sector, especially as there are growing concerns over the risk of losing investment talent and fund-management mandates to competing hubs.
Commenting on the industry's need for action, Quantedge Capital CEO Suhaimi Zainul-Abidin noted that "the timing of the announcement is a nice surprise," emphasizing that "the industry cannot afford a further six months of silence."
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