Morgan Stanley Investment Management may enter the Singaporean retail mutual funds business in the second half of this year, says Lee Tiong-Seng, executive director and business head for Asia ex-Japan. We have a successful retail business in the United States, Europe and Japan. The time has come for Asia, he says.
The firm has always had a retail capability, but the landscape in Singapore is becoming sufficiently attractive to warrant the effort. As of July 1 the Monetary Authority of Singapore MAS will allow offshore funds to be registered directly for retail sales. Until now any offshore product had to enter the market via a feeder structure, which is costly to establish and doubles the...
