MAS working on initiatives to boost fund industry

Singapore

The Monetary Authority of Singapore (MAS) is working on two initiatives to develop the ecosystem around the local fund management industry.

The first initiative, which is being studied by MAS and the Accounting and Corporate Regulatory Authority (Acra), is to introduce an open-end investment companies (OEIC) framework for mutual funds. This is aimed at encouraging more funds to be legally domiciled here.