KUALA LUMPUR: The government estimates the range of assets under management (AUM) to be between RM500mil and RM1.2bil within the first five years of implementing the family office scheme, targeting families from within the country, the region and abroad.
Finance Minister II Datuk Seri Amir Hamzah Azizan said the local investment range is estimated at between RM40mil and RM110mil channelled into high-growth and high-value sectors.
“The scheme is also a catalyst for human capital development and will bring about economic multiplier effects.
“The scheme will stimulate new economic opportunities for the local professional services sector and bring about economic multiplier effects via conditions such as a minimum salary of RM10,000, a physical office, local expenses of at least RM500,000 and local investment of at least 10% of AUM,” he said. — Bernama
