Navicom International Investment, an alternative investment manager, has announced plans to open a new office in Singapore after securing capital markets services (CMS) licence from the Monetary Authority of Singapore (MAS).
The Singapore office is expected to be operational by the end of this year. It will offer fund management services to investors with net assets of more than S$2m ($1.4m) or with annual income above S$300,000 ($2,20,089).
The new office will be managed by the firm’s existing executive team. The firm already operates in Hong Kong and New York.
NaviCom International Investment chairman Alistair Mitchell said: “As a major financial centre, Singapore is recognised for its quality governance controls over a well-developed capital market and financial system. We view this as a highly important attribute as we continue to develop an alternative investment platform to serve a client base of global investors.
“We will continue to build upon our relationships in Singapore to provide family office and trust management services in this highly efficient jurisdiction. The benefits presented by Singapore’s stable financial system will attract the interest of families who are looking to preserve wealth under the favourable terms presented by the trust incorporation and legal processes in place.”