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First State in bold fund push in Singapore

The firm has lodged an application in Singapore to launch 12 funds for the retail market.

The funds are expected to be approved by the Monetary Authority of Singapore (MAS) on 24 October, according to the prospectus.

FSA sought more information from First State Investments, but the firm was not able to reply about the funds and its plans in Singapore in time for publication.

The funds, which include eight equity and four fixed income products, have all been available to accredited investors in Singapore with the exception of the Global Emerging Markets Focus Fund, according to the prospectus.

The funds have been also been registered in Hong Kong, with the exception of the Asia Pacific All Cap Fund, according to local regulatory records.

New funds registered with the MAS

Fund

Benchmark Index

Launch
date to accredited investors in Singapore

Date of Hong Kong registration

First State Asia Pacific All Cap Fund

MSCI AC Asia Pacific ex-Japan Index

March 2013

First State Asia Pacific Select Fund

MSCI AC Asia Pacific ex Japan Index

March 2010

2004

First State Asian Bond Fund

JPMorgan Asia Credit Index

September 2003

1999

First State Asian Property Securities Fund

FTSE EPRA/NAREIT Developed Asia Index

November 2006

2006

First State Asian Quality Bond Fund

JPMorgan Asia Credit Investment Grade Index

July 2003

2003

First State China Focus Fund

MSCI China Index

January 2008

2008

First State China Growth Fund

MSCI China Index

May 1992

2002

First State Global Bond Fund

FTSE World Government Bond Index

November 1999

1998

First State Global Emerging Markets Focus Fund

MSCI Emerging Market Index Net

2004

First State High Quality Bond Fund

Bloomberg Barclays US Government/Credit Index

August 2003

1998

First State Hong Kong Growth Fund

MSCI Hong Kong Index

July 1999

1999

First State Japan Equity Fund

MSCI Japan Index

February 2015

2016

Source: MAS, SFC, funds’ prospectus

In total, the firm offers 14 funds to retail investors and 24 funds to accredited funds in Singapore, according to MAS records. In Hong Kong, it has 25 SFC-authorised funds.

Globally, the firm managed $157bn in assets as at the end of June 2018, according to its website. In Asia, it has offices in Hong Kong, Singapore and Tokyo.

Part of the Bonhill Group.