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Singapore's assets under management (AUM) grew by 30 per cent year-on-year to S$2.4 trillion in 2014, said the Monetary Authority of Singapore (MAS) on Thursday.
Referring to the increase as "a strong showing", MAS said the robust growth was derived largely from "positive asset inflows arising from Asia's growth dynamism and Singapore's position as a pan-Asian asset management hub".
It added that there was a net increase of 38 registered and licensed fund managers, bringing the total number of fund managers registered and licensed with MAS to 591.
These findings are from MAS's annual survey of the Singapore asset management industry. Its latest report is for the year ending December 31, 2014.
Financial institutions surveyed include banks, real estate investment trust (Reit) managers, financial advisors, and insurance companies. In total, 735 participants contributed to the 2014 survey.
MAS added that over the last five years, the industry's AUM have expanded at a 14 per cent compound annual growth rate (CAGR).