UOB Asset Management has entered a strategic alliance with New York-based PlusFunds Group to offer Singapore retail and institutional investors passive exposure to hedge funds incorporated in an index created by Standard Poors
The tie-up is expected to result in a listed closed-end fund, subject to approval by the Monetary Authority of Singapore, says Daniel Chan, managing director and CIO at UOB Asset Management in Singapore.
The hedge fund industry has grown a lot over the past five, 10 years, but by and large Singapore has not participated in this, Chan says. But local investors are increasingly demanding absolute return vehicles, given the increasingly volatile equity markets. Moreover, recent MAS rules have...
