Zico's asset managment unit gets nod to start operations

ZICO Holdings Inc on Wednesday said its wholly owned subsidiary, Zico Asset Management, had on Tuesday been given the green light by the Monetary Authority of Singapore to start business as a registered fund management company.

In a filing to the bourse operator, the professional services provider said that the asset management arm intends to serve not more than 30 qualified investors, of which not more than 15 are funds, and to manage assets of not more than S$250 million.