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FINANCIAL SERVICES | Staff Reporter, Singapore

Boutique asset management NCI opens Singapore branch

The firm will support the Monetary Authority of Singapore’s new fund structure.

UK-based boutique asset management firm New City Initiative (NCI) has expanded to Singapore amidst demands from asset managers in the region, according to a press release.

Timothy Hay, CEO of Somerset Capital Management’s Singapore branch, will chair the 11-member founding team of NCI Singapore.

Both NCI branches in Europe and the Lion City will work with regulators to increase opportunities between the two markets.

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