S’pore chips away at HK’s hedge fund dominance

Prime springboard: People walk along Marina Bay against the skyline of the business districts in Singapore. It is now the second-largest source of foreign portfolio inflows into India after the United States. — AFP

SINGAPORE is cementing its status as a regional hotspot for hedge funds, with the number of firms expanding from Hong Kong to the city-state tripling in the past three years.

At least 16 firms already operating in Hong Kong added a Singapore office between the start of 2019 and end of 2021, compared with just five in the previous three-year period, according to a Bloomberg News analysis of regulatory and business registry data in both financial hubs.