Responding to demand from the region, NCI Singapore has expanded its presence to Singapore and will engage with regulators to promote the values and interests of boutique asset managers.
Asset management think tank New City Initiative (NCI) has launched operations in Singapore with 11 founding members, the U.K.-based organization announced in a press release on Wednesday.
NCI Singapore will be led by chairman Timothy Hay, CEO of Somerset Capital Management Singapore. NCI was founded in 2010 and counts 46 asset management firms from the U.K., France, Norway and Switzerland as members, which collectively manage £500 billion ($643.09 billion) in client money.
According to NCI, it «gives a voice to independent, owner-managed firms that are entirely focused on and aligned with the interests of their clients and investors.»
Opening Up Opportunities
«We feel the time is now right to expand our geographical presence,» NCI chairman Jamie Carter said about the opening, saying that Singapore is ideal as it «has one of the most thriving asset management communities in the East.»
According to the statement, both NCI branches will work with regulators in the U.K. and Singapore to open up and increase opportunities between the two markets.
In November, MCI will hold a meeting in London with its members and a delegation from the Monetary Authority of Singapore (MAS) on developing the Variable Capital Company (VCC) fund structure.
