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Article: Morgan Stanley To Open Singapore Prime Brokerage
- Article from:
- Daily News
- Article date:
- February 5, 2007
- Author:
CopyrightCopyright 2007 Daily News. Provided by ProQuest LLC. (Hide copyright information)
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HONG KONG (REUTERS) - Morgan Stanley, the global investment bank,
said on Monday (Feb.5) it is setting up a Singapore prime brokerage
office to service the fast-growing number of hedge funds in that
market.
Singapore and Hong Kong are waging a highly competitive battle to
attract new hedge funds, which had $140 billion in assets under
management invested in Asia at the end of last year, according to
industry research group Eurekahedge. Singapore still lags Hong Kong
by funds under management, but the Southeast Asian city-state has
gained momentum due to its deep talent pool, accommodative regulation
and tax incentives.
"The industry is certainly growing in Singapore and clients want
us to be ...