WEST PALM BEACH, FL (www.hedgeco.net) – The Singaporean regulator, the Monetary Authority of Singapore (MAS) has granted authority to the UK-based Platinum Capital Management to market its fund ofhedge fund products to investors in the country. Platinum�s Portfolio fund invests in a variety of instruments in over six strategies. According to published reports, Singaporean investors with aminimum investment of US$50,000 may invest in such portfolios.
Singapore has become the chief rival to Hong Kong for the business of hedge funds in the region. The deputy managing director for MAS, Yeo Lian Sim commenting on the state of the Singapore�s hedge fund industry said, �What we have right now is a $100,000 minimum subscription, and that was what we could do that time because funds wanted to introduce their products then.� She further said, �We have since looked more closely at the subject and crafted a regulatory framework which is more comprehensive, so that it deals with single manager funds, funds of funds and capital-protected sorts of funds.� Fund of funds are now widely available to hedge fund investors in Singapore.
Platinum Capital Management has been beefing up its investment operations in the Asian region. Many analysts believe the Asian region remains poised for growth in the alternative investment arena amidst loosening regulatory impediments. Taiwan has ended its ban on the sale of alternative investments in the country. Many hedge fund industry participants see the Asian region as a new and growing market for hedge funds, and increasing numbers of hedge fund managers are positioning themselves to take advantage of such new opportunities when the conditions become available.
Platinum oversees over $350 million in total investor assets.�
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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