Wellington launches 4 funds for Singapore retail investors

US-BASED Wellington Management has launched 4 funds focusing on income and growth, in its first foray into the Singapore retail investment market.

Scott Geary, partner and head of client group (Asia Pacific), said the firm's funds have been distributed through private banks to high-net-worth individuals over the past 10 years. Expansion into the retail market, he says, is part of a move to "evolve" with clients.

"One of the trends that we've been seeing here in Asia is that our banking partners are increasingly combining their private banking and consumer banking units into one. And so last year, we decided to evolve with our clients and expand into the retail fund distribution segment. It's really a methodical strategy by us . . . (We've spent) a lot of time thinking about the right products for the local market."