Singapore overtaken by Hong Kong in ranking of largest wealth management centres: Deloitte

HONG Kong has overtaken Singapore to be the fifth largest wealth management centre in the world, a new report has shown.

With US$500 billion (S$676.6 billion) worth of assets tucked under its belt, Singapore fell a spot from last year although it recorded an increase of 25 per cent in its clients' assets since 2008, consulting firm Deloitte said on Monday.

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