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Alternative Market Briefing

Onerous Singapore regulation is shooing away hedge funds

Monday, July 13, 2015

Komfie Manalo, Opalesque Asia:

Hedge funds are being turned off by the increasing onerous regulatory environment in Singapore and are looking to relocate to other Asian financial centers, ComplianceAsia told a crowd of hedge fund managers at a forum in Hong Kong.

In a report, AsianInvestor.net quoted Alex Duperouzel, partner of regulatory consultant firm ComplianceAsia as saying that the new regulations to be introduced by the Monetary Authority of Singapore (MAS) would create a nightmare scenario and make it more difficult for small hedge funds.

Mark Voumard, CEO of hedge fund platform Gordian Capital added that the MAS’ increased regulatory inspections could trigger a shift in the regulatory focus towards governance, disclosure, conflicts of interest and segregation of duties

The report also quoted Mark Hibbs, CIO of Adamas Asset Management as saying that many hedge fund managers are already planning to leave Singapore because the regulatory environment in the city-state has become "volatile rather than accommodating" to the hedge fund industry.

During the latest Opalesque Singapore Roundtable Robert Welzel, a partner of WTS, a law and tax consultancy firm, said, "WTS has run comparisons between the U.S. regulations and the AIFMD and it is very interesting to e......................

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