A collective move

Singapore's financial regulator gave the local fund industry a shot in the arm by relaxing its rules on the use of derivatives in December. Banks have reacted with enthusiasm, but fund managers less so, finds Pamela Tang


Non-specialised collective investment schemes (CISs) constituted in Singapore were given the go-ahead to invest in financial derivatives as an asset class following new rules introduced by the Monetary Authority of Singapore (MAS) on December 22. These CIS schemes could previously only use derivatives for hedging and efficient portfolio management purposes, and typically invested in cash equity or fixed-income instruments.

The MAS decision was taken to ensure the lion city's financial regulations

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