Investment Management Insurance Scheme
Customised protection for Notified Fund Management Companies in Singapore
Singapore has been tipped to overtake Switzerland as the world’s top wealth management centre within the next two years*, as the city-state benefits from growth in neighbouring emerging markets, a supportive regulator and a stable political climate. This is good news for the asset management industry in Singapore, providing an environment for broader opportunities for fund managers, as more pension funds, insurance companies and other institutional investors seek ever larger exposure to Asian growth.
As part of the Capital Market Services (CMS) licensing requirements in Singapore, representatives may be required to purchase professional indemnity insurance. This does not apply to "Notified Fund Management Companies" (Notified FMCs), or those with not more than 30 qualified investors or less than S$250 million inAssets Under Management.
The ongoing market volatility has made investors more wary of risk. An estimated 60% of money into hedge funds comes from institutional investors, who insist on greater management oversight and risk management. Many investors require professional indemnity insurance as a pre-condition for investment.
With this objective in mind, Marsh has partnered with a leading global specialty insurer and designed a customised Investment Management Insurance Scheme specifically for Notified FMCs. This scheme is being made available exclusively to Marsh clients and prospects.
Who should consider this solution?
Notified FMCs who have:
assets under management less than S$250 million, or
up to 30 qualified investors, or
manage less than 15 funds
Coverage highlights
Directors and Officers Liability Insurance (D&O): protecting individuals for specific management and personal liabilities
Professional Indemnity Insurance (PI): covering investment services offered by investment managers and advisors
Crime Insurance: protecting investment managers and funds from theft by employees
Types of funds covered
Listed Equity
Hedge Fund
REITs
Private Equity
Venture Capital
Fund of Fund
Fund of Hedge Fund
Hybrid of any of the above
CLICK HERE to receive a no-obligation quote by completing a simple online form. Marsh will contact you within 48 hours with an indicative quote.
*(Source: PwC 2011 Global private banking- wealth management survey)
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