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Registered Fund Management Scheme for Singapore

Singapore has been tipped to overtake Switzerland as the world’s top wealth management centre within the next two years*, as the city-state benefits from growth in neighbouring emerging markets, a supportive regulator and a stable political climate. This is good news for the asset management industry in Singapore, providing an environment for broader opportunities for fund managers, as more pension funds, insurance companies and other institutional investors seek ever larger exposure to Asian growth.

As part of the Capital Market Services (CMS) licensing requirements in Singapore, representatives may be required to purchase professional indemnity insurance. This does not apply to "Registered Fund Management Companies" (RFMCs), or those with not more than 30 qualified investors or less than S$250 million inAssets Under Management.

The ongoing market volatility has made investors more wary of risk. An estimated 60% of money into hedge funds comes from institutional investors, who insist on greater management oversight and risk management. Many investors require professional indemnity insurance as a pre-condition for investment.

With this objective in mind, Marsh has partnered with a leading global specialty insurer and designed a customised Investment Management Insurance Scheme specifically for RFMCs. This scheme is being made available exclusively to Marsh clients and prospects.

Who should consider this solution?

RFMCs who have:

  • assets under management less than S$250 million, or
  • up to 30 qualified investors, or
  • manage less than 15 funds

Coverage highlights

  • Directors and Officers Liability Insurance (D&O): protecting individuals for specific management and personal liabilities
  • Professional Indemnity Insurance (PI): covering investment services offered by investment managers and advisors
  • Crime Insurance: protecting investment managers and funds from theft by employees

Types of funds covered

  • Listed Equity
  • Hedge Fund
  • REITs
  • Private Equity
  • Venture Capital
  • Fund of Fund
  • Fund of Hedge Fund
  • Hybrid of any of the above