Independent Wealth

CSOP Asset Management officially establishes operations in Singapore

CSOP Asset Management, Chinese offshore asset manager, has officially set up an office and established operations in Singapore, with a focus on building a family office and external asset management business in service of HNWIs in the Southeast Asia region.

In the Singapore region, the EAM plans to develop a portfolio management team, as well as investigate the depth of the Shari’ah-compliant investment product offering. CSOP is also looking for opportunities for collaborations with other entities, namely other asset managers and sovereign wealth funds, in its new market of operation.

The Singaporean office is the first subsidiary of CSOP’s Hong Kong headquarters, which was founded in 2008, with the new Singapore operation to act as an extension of the Hong Kong business, according to a report by Citywire Asia.

Ding Chen, the Chief Executive Officer of CSOP, has said that “We have been seeing Singapore as an ideal spot to run asset management for quite some time. Singapore and Hong Kong are important wealth centres. We are looking to expand into the private funds industry, or more tailor-made solutions here in Singapore.”

Chen added that CSOP intends to “bring more RMB-related products here (to Singapore),” capitalising on the firm’s “expertise.”

Initially, the product offering of the Singapore operation will be differentiated from that of Hong Kong’s; the Singapore operation has launched its first private product which has attracted demand from Singaporean clients, according to Chen.

CSOP’s Singapore operation has gained traction with both new and existing clients in the region.