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From Komfie Manalo, Opalesque Asia:

Singapore has evolved very successfully over the last four or five years. The regulatory environment in the region is one of the most pragmatic in the world and has created a sensible environment for running hedge funds, said Peter Douglas, principal of GFIA, a Singapore-based consulting firm, during the recent Opalesque Roundtable in Singapore.

Douglas said that majority of hedge fund investors in Singapore are professional allocators who have very sophisticated manager assessment and due diligence processes, and expect nothing from regulators. Singapore has a regime where managers can elect, if they want to, not to be regulated.

This set up is extremely helpful, because it allows managers to put in place a compliance process which is appropriate for their business, rather than adding dead-weight processes and costs that do not benefit their investors.

Tax exemptions Han Ming Ho, head of funds practice group at the Clifford Chance Law Firm in Singapore, added that the Monetary Authority of Singapore (MAS) had followed a very sensible approach in recognizing and distinguishing the different businesses and requirements of long only traditional mutual fund managers and that of hedge fund managers.

Han Ming said tax exemptions are available in Singapore. “Managers here can apply for a concessionary corporate tax rate of 10% subject to MAS approval which ......................

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