Hong Kong-based wealth manager NaviCom International Investment is expanding its business in Asia with a second office Singapore.
The firm has secured a capital markets services (CMS) licence from the Monetary Authority of Singapore (MAS) and the new office is expected to be operational by the end of this year. It will offer fund management services to investors with net assets of more than $1.4 million or with an annual income higher than $220,000.
The new office will be managed by the firm’s existing executive team. NaviCom International already operates in Hong Kong and New York.
“As a major financial center, Singapore is recognized for its quality governance controls over a well-developed capital market and financial system. We view this as a highly important attribute as we continue to develop an alternative investment platform to serve a client base of global investors,” said Alistair Mitchell, chairman at NaviCom International.
“The benefits presented by Singapore’s stable financial system will attract the interest of families who are looking to preserve wealth under the favorable terms presented by the trust incorporation and legal processes in place,” he added.
Founded in 2008, NaviCom International is an independent provider of alternative investment solutions and wealth management services.