Morgan Stanley to Open Singapore Prime Brokerage

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HONG KONG (REUTERS) - Morgan Stanley, the global investment bank, said on Monday (Feb.5) it is setting up a Singapore prime brokerage office to service the fast-growing number of hedge funds in that market.

Singapore and Hong Kong are waging a highly competitive battle to attract new hedge funds, which had $140 billion in assets under management invested in Asia at the end of last year, according to industry research group Eurekahedge. Singapore still lags Hong Kong by funds under management, but the Southeast Asian city-state has gained momentum due to its deep talent pool, accommodative regulation and tax incentives.

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Morgan Stanley to Open Singapore Prime Brokerage

"The industry is certainly growing in Singapore and clients want us to be...

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