Finance

Singapore industry tie-up to offer asset management training

Tue, Sep 15, 2020 – 2:09 PM

UPDATED Tue, Sep 15, 2020 – 4:01 PM

THE Wealth Management Institute (WMI) on Tuesday announced an industry collaboration to develop a strong talent pipeline for the "fast growing" asset management industry.

The collaboration was launched with the support of the Monetary Authority of Singapore (MAS), the Investment Management Association of Singapore, the Singapore Venture Capital & Private Equity Association and leading industry firms.

Under the first phase of the collaboration, the parties are launching an asset management trainee programme aimed at training over 120 participants in the first year, WMI said.

It added that the number of regulated fund managers operating in Singapore was 895 in 2019.

WMI said the programme aims to accelerate trainees' job-readiness by equipping them with foundation skills in asset management, technical skills in areas including valuation, portfolio construction fundamentals and alternatives/private markets, and future-ready skills in areas including data, fintech, impact investing and environmental, social and corporate governance.

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It will curate the programme, which is specifically structured to complement learning while on the job, to accelerate the training and development of aspiring asset managers to join the industry, it added.

The programme will be taught by WMI faculty, consisting of leading industry practitioners and academics. Development of the curriculum and case studies will be guided by expert panels from the industry, WMI added.

WMI chief executive Foo Mee Har said the programme will last for at least six to eight months. It will be delivered in a work-study format, interspersing classes with on-the-job learning and rotations.

So far, 27 firms have committed traineeship places, WMI said. They include Singapore's sovereign wealth fund GIC, private equity firms TPG Capital and Warburg Pincus, asset manager Allianz Global Investors, investment management firm Schroders and venture capital firms Openspace Ventures and Jungle Ventures. (see amendment note)

MAS deputy managing director (markets and development) Jacqueline Loh said WMI's efforts will ensure asset managers have ready access to a quality talent pool, and strengthen Singapore's compRead More – Source