Fidelity Investments is setting up an office in Singapore after a six-year hiatus, says Brett Goodin, managing director in Hong Kong.
The firm closed its Singapore office in 1997 because the business opportunities didn't justify it. Local regulations required foreign firms offer a separate fund range for Singapore investors, as well as requiring them to have a minimum of investment professionals based there. Fidelity wanted to centralize its operations in Hong Kong and not spread its resources too thinly.
Since then the firm has marketed to Singaporean institutions from Hong Kong.
But this month Fidelity opened an office in the Lion City and has placed the required investment professionals....
