(Bloomberg) -- Assets managed in Singapore rose 17% last year amid strong gains from private equity funds and alternative investments, Monetary Authority of Singapore data showed.
ADVERTISEMENT
Singapore’s assets under management climbed to S$4.7 trillion ($3.5 trillion) in 2020 from S$4 trillion a year earlier, according to the central bank’s annual survey released Wednesday. The growth was driven by both net inflows and valuation gains.
ADVERTISEMENT
Private equity and venture capital jumped by 54% to S$391 billion, compared to the 16% growth seen in 2019, as investors boosted exposure to these asset classes amid a search for yield, the MAS said. However, real estate saw a 56% plunge to S$221 million.
Other Key Findings
- Some 78% of assets under management was sourced from outside Singapore in 2020
- About 68% of assets invested in Asia Pacific in 2020
- Net inflows from clients across Asia Pacific rose by 15%
- Funds invested into the Asia Pacific region saw growth of 16% in 2020
- Southeast Asian countries remained key investment destinations, making up 33% of investments into Asia Pacific
©2021 Bloomberg L.P.