Having obtained an asset management license in Singapore, Victory Securities is actively expanding its global wealth management business
HONG KONG SAR – Media outreach – October 19, 2022 – On October 10, 2022, Victory Nest Asset Management Pte. Ltd., a subsidiary of Victory Securities, has obtained the asset management license issued by MAS, the Singapore government’s financial regulator. This is a new chapter in Victory Securities’ expansion into global wealth management.
Victory Global Asset Management Services can now provide tailored wealth inheritance and asset management solutions to medium and high net worth individuals and families through its Singapore company. Victory Securities has years of experience in wealth management, trust services, real estate investing and corporate services. Through the competitive advantages of his Singaporean company and cooperation with local banks, he has enabled Victory Securities to uncover regional investment opportunities and provide professional wealth management services tailored to a wide range of investment needs. clients.
Adam Zhou, spokesperson for Victory Nest Asset Management Pte. Ltd., said, “To help clients manage family wealth inheritance, integrate assets and transfer risk, we provide highly customizable services including global asset allocation, investment real estate, premium insurance, family trust agreements and tax planning, all for a better future for clients.
Data shows that Victory Securities’ assets under management (AUM) have grown every year, with a growth rate of over 41% over a four-year period. Regarding the growth trend, Zhou commented, “Based on the principle of risk control and rate of return, our investment and research team keeps abreast of market trends and dynamically adjusts the portfolio of customer investment to take advantage of market opportunities.
Recently, “The Deloitte International Wealth Management Center Ranking 2018” listed the competitive advantages and disadvantages of the asset management and wealth management industries in major financial centers around the world. There are four indicators of competitiveness, namely business environment (physical facilities, tourist destination attractiveness, capital markets, center of fintech industry), operational capacity (human capital, quality of wealth management services , efficiency of wealth management institutions, maturity of digital capabilities), stability (monetary policy stability, financial system stability, political stability) and taxation and regulation (protection of client capital rights). Based on the above four indicators, Victory Securities compares wealth management services in Singapore and Hong Kong for investors’ benchmark.
Under Mainland China’s “The Belt and Road Initiative” development plan, Hong Kong will continue to operate as a financial center, capital management platform, risk management center and service provider. for the offshore renminbi market. Large medium to large financial institutions have a branch in Hong Kong. Adam Zhou, spokesperson for Victory Singapore Asset Management Company, said, “Thanks to rapid economic development, there are many wealthy people in mainland China. After the completion of the Greater Bay Area Bridge, Guangdong, Hong Kong and Macau are well connected, with a total population of 70 million and a total GDP of US$1.5 trillion. Boasting an excellent environment and infrastructure for the development of new fintech companies, an attractive financial platform, green financing and other investment projects, Hong Kong plays an important role in the global IPO market.
On the other hand, Singapore ranks third in the world in terms of currency trading volume. The Singapore government is encouraging financial institutions to use Application Programming Interface (API) to increase connectivity and financial technology innovation. Adam Zhou explained with some additional examples: “To work with financial institutions in the development of general tools, such as electronic payment, digital ID cards and KYC (know your customer) electronic authentication. Singapore invests also in R&D to develop new solutions, including providing solutions based on distributed ledger technology (DLT) or blockchain technology for interbank payments and accounts receivable funding.
Tax rates and exchange systems in Hong Kong and Singapore
|Tax rate||A low-tax environment: corporate income tax rate at 16.5%. Imputation tax regime: dividends paid to shareholders are not taxable, and capital tax and business tax are not levied.||A low-tax environment: corporate income tax rate at 17%. Imputed tax regime: dividends paid to shareholders are not taxable, capital tax is not levied and GST (goods and services tax) is 7%.|
|Exchange||No exchange controls. Complete freedom of incoming and outgoing remittances.||No strict controls on incoming and outgoing remittances.|
|Exchange rate||A linked exchange system: the Hong Kong dollar is pegged to the US dollar at an exchange rate of between 7.75 and 7.85 Hong Kong dollars for 1 US dollar.||A floating exchange rate system: no strict controls on foreign exchange and capital inflows or outflows|
For more information on global stock market investment opportunities, please visit the Victory Securities website at www.victorysec.com.hk.
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