About Us
Over the years, different industry associations and various stakeholders in the funds industry in Singapore have worked closely with the Monetary Authority of Singapore to develop the ecosystem. The formation of SFIG has strengthened this public-private collaboration allowing the asset management industry to come together to drive cross-sectoral initiatives.
Mission Statement & Objectives
To enhance Singapore’s value proposition as an asset management and funds domiciliation hub, MAS partnered with industry stakeholders within the funds ecosystem to establish the Singapore Funds Industry Group (“SFIG”).
SFIG brings together all the key players across the entire asset management value chain, including not just fund managers but also service providers such as lawyers, tax advisors, fund administrators and directors. SFIG works to identify emerging industry trends and formulate strategies to develop the asset management ecosystem.
SFIG was established with the following objectives:
1
Lead the development and sustainable growth of Singapore’s asset management industry
2
Enhance the value proposition of the Singapore asset management industry by identifying industry trends
3
Formulate and review proposals that industry and policy makers can adopt, and implement proposed recommendations
4
Serve as an effective channel of communication between the asset management industry and the MAS and other government stakeholders
5
Promote Singapore as a full-service international fund domiciliation hub
Establishment in Singapore
Why Singapore
Regulatory
Regulatory
The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator. MAS also works with the financial industry to develop Singapore as a dynamic international financial centre
Asian pioneer in sandbox, Fintech and other regulatory measures to support the industry
One of the world’s most business-friendly regulatory environment for entrepreneurs
No foreign exchange control, removes the need to hedge currency for regulatory purposes
Political and economic stability
Business Environment
Business Environment
Thriving local VC scene; Asian PE’s and Asian Real Estate Fund’s locale of choice
Focus on innovation, capital-intensive activities and a globalised workforce
Very robust and well-coordinated inter government agency policies and procedures
Asia’s only AAA credit rating from all 3 agencies - Singapore was given a top AAA credit rating from S&P, Fitch and Moody’s
Well positioned to serve rapid growth of Asian finance – infrastructure funding, structured trade finance and wealth management
World Class Infrastructure
World Class Infrastructure
Singapore’s strategic location at the heart of South East Asia provides a gateway for managers to domicile their APAC and ASEAN-focused funds here
Well established financial services ecosystem supporting the asset management and funds industry
Global aviation and shipping hub serving as a gateway to ASEAN, Oceania, Indo-Pacific and China
Tax
Tax
MAS offers tax incentives for financial institutions setting up or expanding in Singapore
Extensive DTA network - the most extensive network of free trade agreements (FTAs) in Asia
Significant government incentives drawing entrepreneurs from around the region and around the world
OECD & full FATF member
Human Capital
Human Capital
Highly skilled and cosmopolitan workforce
Vast array of training and scholarship programmes such as SkillsFuture, TechSkills Accelerator to help people upgrade their skills or learn new ones offered by the government in tandem with industry partners and educational establishments
Attractiveness of Singapore to foreign talent as a place of choice for work and Lifestyle
Governance
Governance
Rigorous corporate governance framework and adherence to international accounting standards
Signed 44 bilateral investment treaties, designed to help protect investments made by Singapore-based companies in other countries against non-commercial risks
Strong rule of law, and robust intellectual property (IP) regime - currently rated the best place in Asia and 2nd in the world
Fund Management Ecosystem
Funds sourced from outside Singapore
77% of Singapore’s AUM comes from outside the country, including 33% from Asia Pacific ex. Singapore and 19% from North America. Further, 88% of Singapore’s AUM is invested in assets outside Singapore.
More than 1,400 VCCs
Singapore boasts over 1,400 Variable Capital Companies (VCCs), representing over 3,300 sub funds. This figure includes both VCCs incorporated in Singapore as well as those redomiciled in the onshore fund hub.
ESG
Managed assets with ESG overlay make up 48% of Singapore’s total AUM. As of the end of 2024, 284 asset managers in Singapore offered strategies with ESG considerations.
S$1.4 Tn in Alternatives
Singapore’s Asset management industry boasts S$1.4 trillion in venture capital, henge funds, real estate, REITs and private equity.
S$6.07tn AUM
Singapore’s asset management industry has grown 2.5x since 2010. The nation is a leading asset management hub attracting global investors including SWF, DFI and public pension plans, regional investors and family offices seeking to access regional investment opportunities.
Fund Managers
Singapore has 1,298 Licenced Asset Management Firms, supported by wide range of administrators, legal advisors and prime brokers, all domiciled in Singapore.
Asia’s Onshore Fund Hub
Singapore is home to a dynamic and fast-growing fund ecosystem. Strategically located in one of the world’s fastest-growing economic blocs, Singapore is the Asian hub offering critical mass in financial services, the rule of law, a progressive regulator and advanced technology.
Key Stakeholders
Over the years, different industry associations and various stakeholders in the funds industry in Singapore have worked closely with the Monetary Authority of Singapore to develop the ecosystem. The formation of SFIG has strengthened this public-private collaboration, allowing the asset management industry to come together to drive cross-sectoral initiatives and provide opportunities to allow:
Collaboration across industry sub-sectors towards common developmental goals
Cross fertilisation of ideas across funds value chain and workstreams
Bottom-up initiatives and co-ownership of project outcomes with industry
Scalability of industry-wide projects & stakeholders buy-in
MAS
The Monetary Authority of Singapore (MAS) is the central bank of Singapore and integrated financial regulator. MAS also works with the financial industry to develop Singapore as a dynamic international financial centre. Their mission is to promote sustained non-inflationary economic growth, and a sound and progressive financial centre.
AIMA
The Alternative Investment Management Association ("AIMA") represents the global alternative investment industry. 2,000 corporate members are spread across 60+ countries with $2 trillion+ hedge fund and/or private credit assets of manager members. Founded in 1990, with the Singapore Chapter being established in 2006, its core objective is to provide leadership to the alternative investment industry and to be its pre-eminent voice globally.
IMAS
The Investment Management Association of Singapore (IMAS) was formed in 1997 as the representative body of investment managers in Singapore. Its mission is to spearhead the development of the industry in Singapore by fostering high standards of professionalism amongst practitioners and creating public awareness of, and interest in the industry.
SVCA
The Singapore Venture & Private Capital Association (SVCA) was formed in 1992 to promote the development of the venture capital (VC) and private equity (PE) industry. Its mission is to foster greater understanding of the importance of venture capital and private equity to the economy in support of entrepreneurship, innovation, and growth, and to represent the interests of their members in the broader VC and PE community.
SFAA
Founded in 2007, the Singapore Fund Administrators Association (SFAA) was established with the mission of driving the growth and standard of fund administration in support of Singapore's development as a global asset management hub. The SFAA serves as a central platform for fund administrators to discuss and push forward industry issues as a collective voice.
SFDA
Established in 2020, the Singapore Fund Directors Association (SFDA) was formed with the mission to be Singapore's premier body representing fund directors to foster long-term success through advocacy and standards-setting in corporate governance, and professional development for fund directors.
SFIG ExCo (Members)
Gillian Tan
Assistant Managing Director, Development and International Group, MAS
Read Bio
Kai-Niklas Schneider
Partner, Clifford Chance Singapore
Read Bio
Co-Chairs
Greg Laughlin
Chairman, Alternative Investment Management Association Singapore
CEO - Regal Funds Management, SingaporeRead Bio
Eleanor Seet
Deputy Chairperson, Investment Management Association of Singapore
President and Head of Asia ex-Japan, Amova Asset Management Asia LimitedRead Bio
Sunil Mishra
Chairman, Singapore Venture & Private Capital Association
Partner – Adams Street PartnersRead Bio
Ashmita Chhabra
Chairperson, Singapore Fund Administrators Association
Managing Director - Mourant Governance Services, SingaporeRead Bio
Martin O’Regan
Chairman, Singapore Fund Directors Association
Managing Director - Solas Fiduciary Services, SingaporeRead Bio
Amy Ang
Head of Tax - EY Singapore and EY ASEAN Managed Services Leader
Read Bio
Justin Ong
Partner, Asset & Wealth Managed Services Leader, PwC Singapore
Read Bio
Anulekha Samant
Partner - Tax and Co-Sector Head, Asset Management and Real Estate, KPMG Singapore
Read Bio
Mark Voumard
Managing Director, Head, Fund Platform & Solutions, Asia & Middle East, Gordian Capital
Read Bio
Kerrine Koh
Managing Director & Head of Southeast Asia, Hamilton Lane
Read Bio
Tan Woon Hum
Partner & Head of Asset and Wealth Management - Shook Lin & Bok LLP
Read Bio
Jek Aun Long
Shareholder, Greenberg Traurig Singapore LLP
Read Bio
SFIG ExCo Alumni
Over the years we have been supported by industry leaders who contributed to the SFIG ExCo. We recognise their contributions here.
Arnold Tan
Ex Co-head, Funds and Investment Management Group, Rajah & Tann, currently Consultant Rajah & Tann
Susan Soh
EX Head of Asia Pacific for Schroder Investment Management, currently Partner and Co-Chief Executive Officer at Avanda Investment Management.
Sanjay Gujral
Formerly, Chairman, Singapore Venture & Private Capital Association
Currently Managing Partner, SrvMngl Advisory Services
Thomas Lanyi
Formerly, Chairman, Singapore Venture & Private Capital Association
Currently, Managing Partner and CEO CDH Investments, Singapore
David Ng
Formerly COO and Deputy CEO, CSOP Asset Management, currently Co-Founder and CEO of Arki.
Ross Crawford
Ex General Counsel for Millennium Management in Asia, currently, Deputy General Counsel International Citadel.
Danny Yong
Co-Founder, Co-Chief Executive Officer and Co-Chief Investment Officer, Dymon Asia Capital
SFIG Working Groups
Promotion & Advocacy Working Group
Promotion & Advocacy Working Group
Co-chairs
Mark Voumard
Ashmita Chhabra
Objectives
Promote and advocate to raise awareness of the value of Singapore as both a global asset management center and as a global fund domiciliation hub by building and operating a website that offers all relevant information to asset owners, managers and service providers, both those established in Singapore and those planning to establish a presence.
Effective dissemination of relevant documentation from within the Singapore Funds Industry Group (“SFIG”) and its membership, externally to academic, governmental or other bodies as well as asset owners and market participants capable of influencing the continued viability of Singapore.
Multi-year marketing, media plan and initiatives to advocate for SFIG globally, and work towards influencing decision makers as well as those considering Singapore as an option.
Policy Working Group
Policy Working Group
Co–Chairs Tax
Anulekha Samant
Amy Ang
Co–Chairs Legal
Woon Hum Tan
Jek Aun Long
Objectives
Assist in formulation of pragmatic policies to promote growth of the funds industry, principally focusing on regulatory & tax aspects to complement initiatives critical to the continued expansion of the Singapore fund industry.
Work with industry to provide feedback on enhancements to current policy with regular reviews of the Singapore funds regime to ensure it remains relevant and progressive.
Provide industry viewpoints on new legislation and initiatives in order to enhance their relevance and effectiveness.
