Fullerton Fund Management Set To Establish Presence In The UK


Singaporean based investment management firm is in the process of establishing an office in London


Published on 25 February 2014


by Sajid Javid MP

(WireNews+Co)

London, England

Fullerton Fund Management, a Singaporean based investment management firm, is in the process of establishing an office in London, and will shortly be applying for a licence from the Financial Conduct Authority, the UK’s independent regulator.

Fullerton, which specialises in Asian and emerging market investment solutions, has made the decision to move to the UK following the launch of the government’s Investment Management Strategy. This is clear evidence that the strategy, launched by the Chancellor at Budget 2013, is bearing fruit. It aims to increase the competitiveness of London as an asset management centre by delivering improvements to the UK’s tax and regulatory environment alongside an overseas marketing campaign that has promoted the UK as an asset management centre across the globe.

As part of the Strategy, Financial Secretary to the Treasury, Sajid Javid, visited Singapore last July and met with Fullerton Fund Management.

The London office will be Fullerton’s first outside of Asia. It will enable Fullerton to build new partnerships in the UK and better service and develop its client base in Europe.

The Chancellor of the Exchequer, George Osborne, who visited Singapore this week (Monday 24 February 2014) for talks with government officials and business leaders said:

"Fullerton’s decision to move to the UK represents a firm vote of confidence in the global strengths of the UK’s asset management industry and in the UK’s position as the leading centre for investment management in Europe.

"This government is determined to support one of the UK’s most successful industries and I am pleased to see that the improvements that we have made as part of the UK Investment Management Strategy are already bearing fruit.

"This is another sign that in the global race Britain is seen as open for business by emerging and established markets alike."

Mr Manraj Sekhon, Chief Executive and Chief Investment Officer at Fullerton Fund Management said:

"The opening of a UK office is an exciting development for Fullerton. Europe has been a key market for us since our founding as an independent asset manager. We have been seeing increasing interest in our Asian and emerging market strategies from institutions in the region.

"As a gateway to the continent and an important market in its own right, establishing a presence in the UK will further enhance our ability to service our clients and partners there, and allow us to better access business opportunities. It also demonstrates our commitment to deepening our relationships in this region. Our choice to establish in the UK reflects the UK’s strengths as a hub for asset management, and we have noted the improvements that have been made as part of the UK’s Investment Management Strategy."

Mr Daniel Godfrey, Chief Executive of the Investment Management Association, said:

"We’re delighted that Fullerton Fund Management, a leading investment specialist with expertise across all asset classes, has decided to establish an office in London from which to base its European operations. This decision reflects the UK’s competitive strengths as an international hub for investment management and the partnerships between the UK and Singaporean industries."

 


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Posted 2014-02-25 16:42:00