The Monetary Authority of Singapore has granted a capital markets service license to Denmark-based Nordea Asset Management. This allows the Scandinavian company to operate within portfolio construction and allocation and serve as a licensed fund manager.
Other activities allowed under the license includes research and advisory, business development, marketing and client servicing.
Nordea AM has had a presence in Singapore since 2018. In 2021 the firm announced its intention to set up an ESG hub in Singapore.
Singapore and Asia are important growth markets for Nordea AM, according to Ana Dhoraisingam, head of the Asia-Pacific distribution.
“The license will enable the firm to deepen our footprint in the region,” Dhoraisingam stated.
Source: fundsglobalasia.com
