The Monetary Authority of Singapore unveiled a set of measures for the city-state’s asset management industry in a bid to boost competitiveness.
According to PwC, while further details are expected, fund managers should begin assessing how these measures could affect their Singapore strategy.
This includes reviewing opportunities from the new anchor investment programmme, potential implications for fund management structures and operations, talent mobility and hiring plans, and tax considerations for fund managers and employees.
Moreover, fund managers must also look into how Singapore performs compared to other regional fund management hubs.
MAS’ move comes as global fund managers continue to assess where best to establish, expand and manage capital amid a fast-evolving regulatory, tax and talent landscape.
Among the key measures to review are:
Tax concessions for fund managers and employees – designed to support the attractiveness of Singapore as a base for fund management activities and talent
An enhanced ONE Pass framework – aimed at reducing employment pass friction and supporting the movement of senior investment professionals and key talent
A new anchor investment programme – intended to support the growth of Singapore’s hedge fund ecosystem and deepen the asset management landscape.
