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Riding on the momentum of the double-digit growth of the past six years, the asset management industry continued to perform strongly in 2006. Funds managed in Singapore grew 24% in 2006 to reach about S$900 billion.
Singapore is recognised as one of the premier asset management centres in the Asia Pacific. It is well-positioned for fund managers to tap opportunities in Asia because of its socio-political stability, sound economic fundamentals, reputable legal regime, well-regulated international financial sector and skilled workforce.
In tandem with the growth of the asset management industry, the number of investment professionals increased by 23% to around 1,600 in 2006, from about 1,300 in 2005. Asset management companies have expanded their operations in Singapore to include research, trading activities and regional middle-to-back office settlement functions.
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| MAS Executive Director Ng Nam Sin speaking with management staff from Daiwa Securities Group at the opening of its wealth management Office. |
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MAS Managing Director Heng Swee Keat, with DBS Chairman Koh Boon Hwee (standing), and DBS Vice Chairman and CEO Jackson Tai
at DBS' cocktail reception for its clients held during Singapore 2006. |
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