Singapore fund industry still growing

The government makes public its industry review of 2000.
The Monetary Authority of Singapore has just publicized a review it conducted of its investment management industry, with data as of year-end 2000. The results show modest growth, which is impressive given that Singapore seemed to have reached an equilibrium in attracting new managers. Nor was last year an easy year for fund managers given the bursting of the Nasdaq bubble in April, 2000.

Total assets under management AUM rose to S$276.2 billion $153.7 billion, only 1% more AUM than reported at the close of 1999. Assets under discretionary management tumbled by 9% to S$166.4 billion, which MAS ascribes to falling asset values. This decline was compensated by a 21% rise in non-discretionary...

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