Nordea Asset Management has received a capital markets service licence in Singapore, allowing the Scandinavian asset manager to act as a licensed fund manager in the Lion City.
Following the approval from the Monetary Authority of Singapore, Nordea AM’s Singapore unit will be able to carry out regulated fund management activities including portfolio construction and allocation, research and advisory, business development, marketing and client servicing from Singapore, it said.
Nordea AM has had a presence in Singapore since 2018.
“Leveraging our global investment capabilities and the expertise and legacy of Nordea, the largest financial services group in the Nordic region, we look forward to bringing more compelling global investment opportunities to Asian investors through our attractive equities, fixed income and multi-assets solutions,” said Nils Bolmstrand, CEO of Nordea AM.
“Singapore and Asia are important growth markets for NAM and we welcome the licence, which will allow us to deepen our footprint in the region and better serve our existing and future clients. With an investment team now on the ground in Singapore, NAM will be able to further capitalise on its global leadership position in sustainable investments and share our capabilities in delivering returns with responsibility* to our institutional and wholesale clients in the region,” said Ana Dhoraisingam, head of Asia-Pacific distribution ex-Japan.