PwC have announced that it has launched its Asian Investment Fund Centre in Singapore, which will focus on enhancing its presence in the asset management industry across the region.
This initiative will allow PwC’s asset management practice in Asia to move into new service areas and offer a more holistic one-stop-approach for asset managers and service providers looking to take advantage of the growth in the region.
The Asian Investment Fund Centre will initially focus on providing market entry and strategy analysis, asset manager and distributor operational due diligence assessment, industry benchmarking and research capabilities, as well as cross-border fund registration and distribution support services. These services will add to its existing assurance, tax, regulatory and compliance offerings today, through which PwC aims to provide a full suite of expertise that asset managers would need to understand, access and succeed in this region.
The Asian Investment Hub will work closely with the PwC Luxembourg Global Funds Distribution practice, to bring both the expertise and know-how to the region, especially in the area of fund distribution support.
Justin Ong, Asia Pacific Asset Management Leader said,“In our groundbreaking Asset Management 2020 thought leadership piece, we estimate that investible assets across Asia will increase with the rise of the middle class over the next decade. This will translate to more avenues for investments and more asset classes, and we also see more creative product and distribution channels emerging throughout the region.
“With the advent of the Asian fund passporting schemes, Singapore is uniquely positioned as the only developed asset management jurisdiction common between the existing ASEAN Collective Investment Scheme and upcoming Asia Region Funds Passport scheme. This coupled with a large private banking network and a long history of offshore fund distribution, there is great potential for Singapore to further enhance itself as the preferred hub for Asset Management in the region, and even globally.
Basing our Asian Investment Fund Hub in Singapore is the most strategic choice.”
PwC Singapore’s Asset Management practice has been active in the market since early 1990’s, and today the team strength of 160 professionals allows it to boast as the largest dedicated asset management professional firm in the region.
