Singapore AUM reaches $891 bil

ASSETS under management (AUM) grew to reach $891 billion as at end-2006, a 24 per cent increase from $720 billion as at end-2005, the Monetary Authority of Singapore (MAS) said.

The Asia-Pacific region contributed to 43 per cent of total funds sourced by Singapore-based asset managers in 2006 while the funds from United States and Europe accounted for about 35 per cent of the total funds managed. Funds from South Asia and the Middle East had also grown, at 36 per cent and 21 per cent respectively year-on-year, it said. "With about 84 per cent of total AUM sourced from outside Singapore, asset managers in Singapore continue to serve regional and international investors," MAS said in a statement yesterday.

In terms of investor base, there was a good mix, with about half coming from institutional investors and the other half from non-institutional investors, it said.

"Managers have continued to use Singapore as a base to manage local and regional investment opportunities."

Meanwhile, the number of investment professionals grew by 23 per cent to reach 1,786 in 2006. Bernama