The Monetary Authority of Singapore (MAS) has approved Tai United Asset Management, a subsidiary of Tai United, as a registered fund management company to carry on business in Singapore.
Since 2016, the company has been offering securities and derivatives, including foreign exchange, bonds and major commodity futures as well as options using macro and hedging strategies in developed capital markets.
Following the receipt of this approval, the company now intends to expand its operation in the region by providing offshore asset management solutions to institutional investors and HNWIs.
Tai United CEO Meng Zhaoyi said: “Leveraging Singapore’s advantages as a financial centre in the Asia Pacific region, the company attracts investments from HNWIs and builds solid relationships in the country’s financial market.
“In the future, the status of RFMC will strengthen Group’s Financial Services Segment by creating synergies with existing securities investment, asset management and insurance brokerage businesses, which further improves the company’s overseas development.”