With Singaporean regulations making it harder and harder for new hedge funds to launch, platform operator Swiss-Asia Financial Services has been having an unbelievable past 15 months according to Bloomberg.
“The last 15 months have been unbelievable,” Mivelaz said. “We are being contacted by people in London, Hong Kong, China, from everywhere.”
The Singapore-based platform just added 17 hedge funds and one private equity fund to its roster, more than double the 16 funds they had the previous year. Assets under management meanwhile are expected to jump by at least $700 million, thanks mostly to newly-independent private bankers who recently came on board – and who the firm expects to lure even more of this year.
More power to them. For their sake though, I hope they don’t land one of these guys.
Photo credit: Sacha Fernandez via Flickr