American asset manager State Street has secured a licence from the Monetary Authority of Singapore to expand its trust services in the market. The new licence will enable the American trust bank to act as a trustee for collective investment schemes offered to institutional investors and restricted schemes offered to accredited investors. Previously, it only provided trustee services to Singapore-authorised, retail-only, collective investment schemes. It has been operating in Singapore since 1997. The firm offers a range of services in the city-state such as investment recordkee...
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