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CFA SINGAPORE INSIGHTS

What the decline in public listings means for retail investors

Is the public market passe? Recent research by the CFA Institute flags important developments for investors.

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(Above) Inside the Singapore Exchange. CFA Institute believes the correct set of policy responses is to not weaken the integrity of public markets in a likely vain attempt to attract more activity, but instead to responsibly improve access of smaller investors to private market investments, via professional intermediaries such as collective DC vehicles.

THE statistics on public market participation by corporations over the last two decades make for grim reading in developed markets. From the US to the UK, Euro area and even Singapore, the number of companies listed publicly on exchanges has shrunk - in some cases dramatically - over the last

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