(Feb 14): Singapore wants some of the world’s biggest money managers to call its tropical shores home.

In January, the city-state rolled out a new corporate structure designed to make it more attractive for international firms to domicile funds in the nation. The law, known as the Variable Capital Companies Act, makes it easier for overseas and domestic entities to register funds in Singapore if they have a locally based fund manager.

One of Asia’s major financial centres, Singapore expanded its assets under management by 5.4% to $3.4 trillion in 2018, the latest central bank data show. But much of that is held in vehicles registered abroad – think Luxembourg, the Cayman Islands and Bermuda.

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