SGX's multi-asset strategy needs to address IPO drought

MOST investors would agree that the Singapore Exchange (SGX) has fared well in its dogged execution of a multi-asset strategy - rapidly growing its derivatives market as well as its market data and index business, even as rivals were nibbling at its toes.

But although the exchange has successfully diversified to meet sophisticated global investors' needs for risk management and portfolio diversification tools, the average local retail investor or punter has been left with a list of rather uninspiring stocks for his or her nest egg.

The recent rallies in the US stock markets have highlighted this unfortunate gap more than ever, as tech and software stocks around the globe have soared to record valuations.