External Asset Manager News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Singapore, 13 July 2022, (Wednesday) - In 2019, the global asset management industry reported stupendous growth, with global Assets Under Management (AUM) growing 15% to reach US$89 trillion. Singapore has seen burgeoning wealth over the past decade, with its AUM matching the global trend, rising 15.7% to reach US$2.9 trillion in 2019. In 2020, Singapore’s AUM grew 17% to reach S$4.7 trillion (US$3.5 trillion). Despite the COVID-19 pandemic, billionaire wealth managed in the country jumped 30% between April and July 2020 to reach US$102.6 billion. 

On March 4, Hubbis hosted a panel of experts for a discussion on the future of the independent wealth management sector in Asia. The independent sector in the region remains considerably less well-established than, for example, in Europe or the US, with an estimated 30% of assets managed by boutique firms in Switzerland against estimates of well less than 10% in Asia, and probably nearer 5%. But that represents a great opportunity, and Asia is certainly working hard to catch up with Europe. There is growing diversity in the market, more top-flight bankers have been leaving the relative securi...