SINGAPORE TO SUPPORT REGIONAL INITIATIVES AIMED AT IMPROVING LIQUIDITY OF ASIAN CAPITAL MART

SINGAPORE, May 12 (Bernama) -- Singapore will continue to build on its role as a hub for Asian investments, by supporting regional initiatives aimed at improving the depth and liquidity of Asian capital markets.

In stating this, Permanent Secretary for Finance, Peter Ong said Singapore has been actively involved in various regional projects and initiatives across multiple fora.

"This includes efforts to link regional stock exchanges, participating in ASEAN initiatives to develop its bond markets, and working with the World Bank to promote public-private partnerships (PPP) in funding regional infrastructure projects," he said at the Investment Management Association of Singapore's 12th Annual Conference here Thursday.

He disclosed that the 2010 Singapore Asset Management Industry survey showed that assets under management (AUM) by fund managers in Singapore had reached a new high of S$1.4 trillion, representing a 13 per cent year-on-year growth.

Ong said the survey found that over 80 per cent of AUM was from
international sources, with more than 60 percent of the total assets invested in the Asia-Pacific region.

"These results reaffirm Singapore’s position as a leading Asian investment centre for global investors," he said.

He added the industry remains well-diversified across asset classes, with slightly over half of it in equities, and the remainder split across fixed income, alternatives, mutual funds and cash.

In terms of the profile of fund managers operating in Singapore, in addition to the top-tier global fund houses, there is also a sizeable pool of regional and indigenous fund managers.