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SINGAPORE: Hedge funds can now be listed on the Singapore Exchange.
In a statement out on Wednesday, the SGX said a listing will make these funds more visible to institutional and accredited investors.
The move is also part of efforts by the exchange to offer investors a wider range of investment products and tools.
SGX says it sees some benefits in allowing hedge funds to be listed.
For one, it will make these funds more transparent to investors and improve their disclosure standards.
The stock exchange operator also believes that the new listing platform will add value to its customers by enabling hedge fund managers to better meet the needs of their investors.
But the SGX says there will be no trading in the units of listed hedge funds.
Instead, the issue and redemption will take place in the over-the-counter market.
Meanwhile, the SGX also announced that the listing rules and obligations for hedge funds will be less onerous, compared to those for conventional funds.
This is because hedge funds are highly specialised investment pools offered to institutional and accredited investors.
The listing process will also be faster.
To be listed, a hedge fund must have a minimum asset size of at least S$20m for Singapore funds or US$20m for foreign currency denominated funds.
Over the past few years, the SGX has been widening the investment products and tools, available to investors.
It has also been seeking linkages with other stock exchanges to facilitate cross-border trading. - CNA /dt
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