Singapore fund managers face lengthy licence wait amid surge in applications

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The story "Singapore fund managers face lengthy licence wait amid surge in applications" was covered 14 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 14h ago

Singapore fund managers face lengthy licence wait amid surge in applications - Financial Times

Quick Summary:

Chinese authorities blamed the funds’ rapid-fire trading patterns for exacerbating a stock market slump in January 2024, when the benchmark CSI 300 index dropped 6 per cent to a five-year low in what was dubbed China’s “quant quake”.

Fund managers from Japan, Europe, the US and South America have also applied to set up in Singapore in a bid to attract more investors from south-east Asia.

Last year, the regulator changed its licensing process for investment managers, increasing the frequency and detail of information that groups had to report.