Tiger Brokers Rolls Out New Fund Management System in Singapore
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An affiliate of Tiger Brokers retail trading company, Tiger Fund Management (TFM) has rolled out its operations in Singapore. This follows the company’s approval for a Fund Management license from the Monetary Authority of Singapore (MAS) earlier this year.
TFM now manages more than $220 million worth of assets as it continues to provide wealth management services to institutional and individual investors.
The launch of TFM in Singapore is seen as a significant milestone for Tiger Brokers. Henry Toh, Chief Financial Officer of Tiger Brokers commented on the development. He stated that the introduction of its services in the Southeast Asian country is in line with the company’s long-term commitment to ensuring comprehensive financial services. This achievement is a statement of Tiger Broker’s commitment to the fund management sector in Singapore and the wider Asian region.
TFM Extends Partnership Hands To Yuanta Securities
Toh stated that TFM wants to keep offering exceptional services to its clients as it tries to capture growth opportunities. This is part of the company’s long-standing goals and commitment to providing holistic, innovative, and more efficient financial services.
As part of its commitment to offer efficient financial services, TFM has partnered with Hong Kong-based Yuanta Securities to expand its service offerings. The collaboration will enable TFM to extend its market reach while improving its product line. The partnership is also Yuanta Securities’ first foray into the Singapore market and the first time collaborating with TFM.
TFM To Provide Different Asset Management Products
Tiger Fund Management plans to offer wealth management services and asset management products. In collaboration with Yuanta Securities, the company will launch a money market fund this year. The new development will provide more liquidity options to investors while ensuring competitive returns with dollar-based short-term deposits.
TFM is also revamping its management board to reposition the company for more growth. The company wants to continue fundraising and joint investment activities. This includes the planned money market and the management of other potential funds for its clients in the Asian markets.
Tiger Brokers’ former Chief Investment Officer, Jeremy Tan, commented on the development. He stated that the collaboration with Yuanta Securities is a great deal for both companies and will be the stepping stone for other partnership deals in the future.
Tiger Brokers is also launching other programs as it continues to expand in the market. It recently launched the first AI-based investment assistant, TigerGPT, after three months of tests involving 11,000 cryptocurrency traders and investors. The app is now available to Singapore, Australia, and New Zealand users.
