16-07-2025
Singapore managed assets soar, real estate drops to 5-year low
By Low De Wei and David Ramli
(Bloomberg) — Real estate and real estate investment trust assets run by money managers in Singapore fell to their lowest levels in at least five years, according to a 2024 survey released on Tuesday (15 July) by the city-state's central bank.
The country's total assets under management hit a new high of S$6.07 trillion (US$4.7 trillion) as of 31 December 2024, up 12 per cent compared to a year earlier, the report from the Monetary Authority of Singapore (MAS) showed. More than three-quarters of the funds were sourced from outside the country, and 88 per cent of the assets were invested globally.
Property investments, which have been hit by higher interest rates and downturns in some key markets across the globe, were an overall loser. Managed real estate assets fell 6 per cent to S$158 billion at the end of 2024, and the amount overseen by REITs dropped by 15 per cent to S$115 billion from the previous year.
The survey results come as Hong Kong, Singapore and the United Arab Emirates vie to be the dominant hub for financial services outside of Europe and the US. All have ramped up business incentives and logistical benefits in recent years, seeking to attract jobs and money from the world's biggest fund managers.
The assets managed by hedge funds in Singapore rose 37 per cent to an all-time high of S$327 billion, as global firms from Citadel LLC to Jain Global LLC expanded operations in the city-state, as did local rivals like Dymon Asia Capital Pte.
Private equity and venture capital assets also grew 20 per cent to hit S$789 billion. The MAS report said investments in private credit rose by more than a fifth year on year.
There were 1,298 licensed fund management companies in Singapore at the end of 2024, up 48 from the previous year's total.
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