MitonOptimal Asia, a unit of Guernsey-based discretionary fund management (DFM) firm MitonOptimal, has received a capital markets licence from the Monetary Authority of Singapore (MAS).
The authorisation allows the firm to provide DFM and investment management services to accredited investors, financial advisers, trust companies as well as other institutional clients in the region.
The firm till now only had a client support office in Singapore, which is not authorised to carry out licensed activity.
Commenting on the development, MitonOptimal group managing director and CIO Scott Campbell said: “MitonOptimal has always recognised the value in having a physical presence in Asia, a region that continues to demonstrate strong growth and offer multiple business opportunities.
“With our new capital markets licence, we hope to demonstrate our commitment to the region and continue the expansion of the MitonOptimal group of companies.”
“Regional customers will benefit from having greater access to a local portfolio manager and full ‘on the ground’ support, to assist with issues such as administration, compliance, portfolio reviews, illustrations and valuations.”
Apart from Guernsey, MitonOptimal also has offices in South Africa, UK, Isle of Man and Singapore.
The firm, founded in 2002, currently has a workforce of over 70 and manages around £880m in assets.