Singapore AUM up 12% to $6.07t in 2024

Net inflows also rose 50% YoY.

Singapore’s assets under management (AUM) grew 12% to $6.07t in 2024, driven by strong market performance and higher net inflows compared to 2023, according to the latest Singapore Asset Management Survey, released by the Monetary Authority of Singapore (MAS).

The city remains a key gateway for global investors, with 77% of AUM sourced from outside Singapore and 88% invested globally.

The survey noted that 77% of Singapore’s AUM originates from outside the country, whilst 88% of the total assets are invested globally.

Discretionary AUM now constitutes more than half of the total, highlighting Singapore’s sustained appeal as a hub for key investment professionals and decision-makers.

Net inflows rose 50% year-on-year as fundraising recovered amid better investment sentiment.

Additionally, alternative assets grew 14%, led by private equity, venture capital, and hedge funds, while private credit investments increased 21%. Declines in REITs and real estate were offset by these gains.

The city-state continued to attract global and regional asset managers, especially from private equity and hedge fund sectors, with more firms establishing offices to leverage regional opportunities. The number of licensed fund management companies increased from 1,250 in December 2023 to 1,298 by the end of 2024.

In the traditional retail investment segment, Authorised and Recognised Collective Investment Schemes (CIS) offered in Singapore grew by 31%, totaling $191b.

Moreover, ESG assets accounted for 48% of Singapore-based managers’ AUM, with 284 managers offering ESG strategies.

As of year-end, Singapore had incorporated or re-domiciled 1,200 variable capital companies, encompassing 2,695 sub-funds managed by 628 regulated fund management firms.

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