The total assets under management (AUM) in Singapore rose by 26 percent year-on-year to reach 720.4 billion Singapore dollars (about 456.3 billion U.S. dollars) at the end of 2005, according to the figures released by the Monetary Authority of Singapore (MAS) Wednesday.

MAS' annual survey of the asset management industry showed that over 80 percent of the total AUM were sourced from outside Singapore. The Asia-Pacific region contributed 44 percent of the total funds sourced while Europe and the United States together accounted for some 33 percent.

Funds sourced from the Middle East and South Asia expanded by 30 percent and 56 percent respectively in 2005 as compared with the previous year.

The survey also found that institutional clients continued to form the bulk of the investor base for the asset management industry, constituting 45 percent of the total AUM.

"Singapore remains a center for the management of Asian mandates. Investments into the Asia-Pacific region accounted for 53 percent of total AUM in 2005, a significant increase from a 46- percent share in 2004," said MAS, Singapore's central bank.

Nearly 47 percent of the total AUM were invested in equities at the end of 2005, and the rest of the funds were allocated to bonds, alternative investments, commodities, derivatives and money market products.

Source: Xinhua