December 16, 2002

Monetary Authority of Singapore Revised its Guidel

SINGAPORE (HedgeWorld.com)--The Monetary Authority of Singapore revised its guidelines for retail hedge funds, using previously proposed changes.

MAS changed the rules largely following the suggestions offered earlier in the year, dropping the minimum for hedge funds of funds to S$20,000 (US$11,273) and to no minimum for capital protected and capital guaranteed hedge funds. Previous HedgeWorld Story The minimum for single hedge funds remains at S$100,000.

The changes were made in recognition of the benefits to diversification and to third-party guarantees and principal protection, according to an MAS statement.

Earlier this year, ABN AMRO filed to sell one of the first retail hedge funds in Singapore, though with the previously higher minimums of S$100,000.

PBarr@HedgeWorld.com

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