Singapore’s  AUM reaches $5.41t in 2023, up 10% YoY

It grew in line with the 10% CAGR over the past five years.

Singapore's assets under management (AUM) reached $5.41t in 2023, a 10% year-on-year (YoY) increase, in line with the 10% CAGR over the past five years, according to the MAS Annual Report 2023/2024.

From 2018 to 2023, private equity (PE) and venture capital (VC) AUM grew at a compound annual growth rate (CAGR) of 24.6% to over $650b.

Over half of these assets supported business growth in the APAC region.

MAS expects private credit to grow as global managers expand their Asia teams in Singapore and new managers establish a presence to tap regional opportunities.

Meanwhile, the corporate debt market rebounded despite interest rates peaking at multi-decade highs, driven by increased corporate financing needs for business expansion.

The outstanding market size increased by 10.5% to $566b, with new issuance growing 21% in 2023 to $230b.

In addition, Singapore is the largest sustainable debt market in ASEAN, with sustainable debt issuances growing 7% year-on-year (YoY) to $38b in 2023. From 2018 to 2023, Singapore issued over $130b of sustainable bonds and loans.