Asia-Pacific

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Largest 500 family businesses prove economic resilience despite pandemic

Largest 500 family businesses prove economic resilience despite pandemic

Despite the turmoil brought on by the Covid-19 pandemic, family-owned enterprises have managed to stay resilient. The world's largest 500 family businesses generated USD7.28 trillion in revenues, employing 24.1 million people across 45 jurisdictions. These and other findings were published today in the 2021 EY and University of St. Gallen Family Business Index which reveals how the largest family-owned businesses have responded to the recent turbulence in the global economy.

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McFaddens enters joint venture with CIIC Group

McFaddens enters joint venture with CIIC Group

McFaddens & Co, an international multi-family office providing the global suite of investment, wealth management, and philanthropic and lifestyle services, announces that it has entered into a joint venture with China International Industry & Commerce Co Ltd to launch a multi-family office network in both mainland People's Republic of China and Hong Kong. 

SPECIAL REPORT

Growth and strong prospects in a tough environment

Growth and strong prospects in a tough environment

By A Paris – This year will be forever remembered as the one which saw a global pandemic taking over the world, widespread travel restrictions and significant market volatility. But in Singapore, 2020 can be considered in a more favourable light. Despite the less than auspicious environment, the jurisdiction reaped success in launching a new fund structure, generating manager interest in an otherwise turbulent period.

SINGAPORE

Singapore, growing from strength to strength

Singapore, growing from strength to strength

“The introduction of the Variable Capital Company (VCC) structure earlier this year has been the latest in a number of initiatives undertaken by the Singapore government to grow the city state’s fund management industry and achieve its ambition of being the gateway to asset management opportunities in Asia”, says Allard de Jong, Head of the Fund Administration, Corporate Trust and Custody team of the Portcullis Group.

SINGAPORE

Tenacity in the face of adversity

Tenacity in the face of adversity

The outlook for the penetration of the Variable Capital Company legislation as a fund structure is upbeat as it soldiers on against the unfortunate timing of its launch, amid a global pandemic. More importantly, in practice the legislation works well and the fund launches have been successful.

SINGAPORE

Turning potential into reality

Turning potential into reality

The ASEAN region has demonstrated itself as a major area for investment and potential growth. However, much of this growth is still on the horizon and yet to be materialised. For the prospects of the ASEAN region to reach their true potential, the current environment requires cost efficiency, scalability and talent. These are critical factors to creating a supportive ecosystem.

SINGAPORE

Digital innovation breaking ground in Singapore

Digital innovation breaking ground in Singapore

The Monetary Authority of Singapore (MAS) has been proactive and transparent with licensing requirements, compared to other jurisdictions. The Digital Acceleration Grant (DAG) programme incentivises firms to modernise operations, equipping smaller managers with the necessary technology and helping new funds get off the ground. This programme, coupled with geopolitical influences, contributes to Singapore accelerating as a safe-haven for money and financial institutions.