In a recent article, "Singapore sees jump in family offices as Asia's ultra-rich set up camp" published in The Business Times, Jason Nelms discusses the rise of family offices choosing Singapore as their base and the symbiotic relationship between Singapore and Hong Kong.
"Family offices are gaining traction in recent years mostly due to the desire of wealthy families to institutionalize and diversify their investment programs, said Jason Nelms, a partner specializing in fund formation at law firm Morrison & Foerster. As such, family offices tend to hire experienced investment professionals to run the business, similar to how a third-party investment fund would run, he noted."
He also commented that Hong Kong and Singapore share a "symbiotic" relationship and benefit from each other's success, and that "Asia's markets are so diverse and dynamic that no one city could dominate the landscape."
"Both cities will continue to present compelling opportunities for family offices and other global investors", he commented.
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