MAS introduces measures to incentivise key asset managers to establish or deepen presence in Singapore

Felicia Tan08-19

The announcement comes a day after Hong Kong issued a new bill to cut taxes for hedge funds, although Singapore does not see the competition with the SAR as a "zero sum" game, says Minister Chee.The ...

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incentivise key asset managers to establish or deepen presence in Singapore\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-08-19 05:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/news/asset-management/mas-introduces-measures-incentivise-key-asset-managers-establish-or-deepen?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>Felicia Tan</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The announcement comes a day after Hong Kong issued a new bill to cut taxes for hedge funds, although Singapore does not see the competition with the SAR as a \"zero sum\" game, says Minister Chee.The ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/asset-management/mas-introduces-measures-incentivise-key-asset-managers-establish-or-deepen?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source 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ETF","LU1543694498.USD":"法巴水资源基金RH MD Dis","PFI":"Invesco Dorsey Wright Financial Momentum ETF","MAS":"马斯科"},"translate_title":"新加坡金融管理局推出激励主要资产管理公司在新加坡建立或深化业务的措施","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VFH":1.5,"HDG":0.65,"SAR":1,"PFI":1.5,"MAS":1.5},"content_text":"The announcement comes a day after Hong Kong issued a new bill to cut taxes for hedge funds, although Singapore does not see the competition with the SAR as a \"zero sum\" game, says Minister Chee.The Monetary Authority of Singapore (MAS) has announced a set of three measures in a bid to incentivise key asset managers to anchor their business activities, capital allocation and talent deployment in Singapore.\nThese include a proposed tax exemption introduced by the central bank and the Ministry of Finance for profit-related returns from qualifying funds, a new hedge fund investment programme, and a new investment management track under the Overseas Networks & Expertise (ONE) Pass framework.\nThe announcement comes a day after the Hong Kong government issued a new bill to cut taxes for hedge funds, although Singapore does not see the competition with the special administrative region (SAR) as a \"zero sum\" game, says National Development Minister Chee Hong Tat, who is also deputy chairman of the MAS.\n\"We believe that the region is big enough. There's enough scope for both cities to grow as financial sectors,\" he adds at a doorstop on Aug 19.\nOn the first measure, the proposed tax exemption will apply to a share of investment profits earned by fund managers and investment professionals when they deliver \"strong returns\" for investors in qualifying funds. \nThese funds refer to those which qualify for tax exemptions under Sections 13D, 13O, 13OA, 13U, and 13V of the Income Tax Act 1947 and are managed by Singapore-based fund managers. Such fund managers are already required to meet requirements such as a minimum headcount.\nThis measure is expected to take effect from the Year of Assessment in 2027, covering income earned in 2026. More details will be announced at Budget 2027, which has consistently been the practice when it comes to changes to Singapore's tax rules and policies, says Chee.\nThe new hedge fund investment programme, says MAS, will invest with hedge fund managers \"committed to establishing or deepening their presence in Singapore\". \nThe programme will also support the growth of Singapore's hedge fund investment ecosystem including ancillary service providers and prime brokerages. More details will be shared when ready, the central bank adds.\nFinally, the new investment management track will be targeted towards global leaders and senior investment professionals who \"have the potential to contribute or are already contributing significantly to Singapore's asset management industry\". \nThe track may include refining the assessment of salaries to \"better reflect established compensation structures\" in the industry such as recognising returns linked to investment performance and fund outcomes.\nThe ONE pass was announced in August 2022 and launched in January 2023 in a bid to attract talent across sectors including business, arts and culture, sports, academia and research.\nUnder the existing framework, applicants will need to have a fixed monthly salary of $30,000 under an employer for 12 straight months leading to the date of application. These applicants will also have to earn the same sum under a Singapore-based company, which has to have a market capitalisation of at least US$500 million or annual revenue of at least US$200 million.\nSingapore's asset management industry is a key growth engine for the city-state's financial sector, accounting for around 15% of the sector's output and 13% of its employment.\nOver the past five years, the industry grew positively by 7.5% per year on average to almost $7 trillion. The sector also provides close to 25,000 jobs, of which 80% are filled by locals.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.47.1","shortVersion":"4.47.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2660422150","isCrawlerRequest":true}