A vibrant PE and VC ecosystem is critical for the ongoing technological and digital transformation of Singapore and ASEAN. Deep and diverse private markets offer investors an opportunity to tap on the returns potential of Asia’s growth companies. This is why MAS has made the growth of the private market ecosystem a key plank in its industry development agenda, and put in place various supporting initiatives. First, MAS has simplified the regulatory framework for VC managers. We have streamlined the admission criteria and business conduct requirements. This has facilitated faster time-to-market for VC managers, and increased access to financing for start-up and growth stage businesses. Second, MAS is working with industry players to establish private market platforms in Singapore to help match Asian growth companies with international investors. Last year, Capbridge Platform obtained MAS’ approval to operate its private securities exchange as a Recognised Market Operator in Singapore. Third, MAS launched in November last year a programme to allocate $ billion of its own funds as part of its investment portfolio into the private markets asset class. These funds will be placed for management with top global PE and Infrastructure fund managers who are committed to deepening their existing presence or establishing a new and significant presence in Singapore. There has been keen interest from PE and infrastructure managers, and MAS has already funded a few managers who have met our investment and developmental objectives. MAS’ total commitment to PE and infrastructure funds under this programme is currently just over $ million.
It is important that SIAS continues and builds upon the good work it has done to-date. As they grow in financial sophistication, more Singaporeans are taking to investing. At the same time, the investment landscape is becoming increasingly complex and challenging. The theme for today’s conference is timely – the future of investing. I will not try to predict that future or, worse still, offer tips on what to invest in. There are many experts that SIAS has gathered, who can do that better than I. Instead, I want to talk about how we might achieve wellness in investment, taking into account some broad trends and how MAS is working with the financial industry to create the investment ecosystem to make possible this wellness. As with achieving physical and mental well-being, may I suggest that achieving wellness in investment comprises three things: eating well; sleeping well; and feeling well. Eating well is about investing for good financial returns. 1/7  BIS central bankers' speeches  While public markets will continue to be the mainstay of investing, the search for yield will inevitably take us to private markets. The rise of private markets has been a structural trend for about two decades now. Identifying opportunities in private markets while minimising risk will be a key theme in the future of investing. Sleeping well is about securing adequacy in retirement. Demographics is one of the few trends we can predict with a degree of certainty.