Building Singapore as a financial services hub
Wednesday 8 June 2011 - by Ng Nam Sin
Singapore's success as an international financial centre is premised on its effective regulatory regime and robust supervisory framework.
As the most active foreign exchange trading centre in Asia, except-Japan, Singapore is also the second largest over-the-counter derivatives trading centre in Asia, and a leading commodities derivatives trading hub.
Singapore has developed into a leading insurance centre with a rich mix of direct insurers, professional reinsurers and captive insurers.
It is also currently the largest Real Estate Investment Trust market in Asia (excluding Japan), and offers investments in shipping, aviation and infrastructure trusts.
Singapore is recognised as one of the premier asset management centres in Asia. The 2010 Singapore Asset Management Industry survey results showed that assets under management by fund managers in Singapore have reached a new high of S$1.4tn, representing a 13 per cent year-on-year growth.
Taking a longer time frame, the five-year average growth rate for the industry was a healthy 16 per cent.
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