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Matthias Knab, Opalesque for New Managers:

Singapore's population of Single Family Offices (SFOs) has crossed the 2,000 mark, according to a written parliamentary reply from Deputy Prime Minister and Minister for Trade and Industry Mr Gan Kim Yong, who also chairs the Monetary Authority of Singapore (MAS).

Responding to a question from Nominated Member of Parliament Dr Neo Kok Beng on the number of approved family offices and their assets under management, Mr Gan, answering in his capacity as Chairman of MAS, said that as of end December 2025, more than 2,000 SFOs receive tax incentives in Singapore. These vehicles manage the wealth of families originating from a range of countries, with the largest concentration coming from the Asia Pacific region, followed by Europe and the Americas.

Dr Neo had asked for a fuller breakdown, including AUM by country of origin for approved family offices, as well as the number of applications currently under processing together with their proposed AUM and regional breakdown. The published reply did not provide these more granular figures, instead framing the SFO population within the context of Singapore's broader asset management industry.

Mr Gan noted that Singapore's asset management industry as a whole expanded by 10.1% in 2025, taking total assets under management ......................

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