Staffing Regulations for all fund management companies and fund managers (LFMC, RFMC, VCFM)
Which industries count as "relevant experience" for the required staff of the fund management company?
Relevant experience depends on the type of assets handled by the FMC.
According to MAS (Guidelines)
last revised on 11 August 2021
(a) Traditional and hedge funds – Relevant experience may include investment management experience in markets or asset classes which the fund(s) will invest in;
(b) External asset management – Relevant experience may include experience managing or advising on wealth management portfolios for clients focused on markets or asset classes which the FMC will target; and
(c) Private equity and venture capital funds – Relevant experience may include experience in industry segments that are within the fund’s investment mandate.
MAS will not consider experience in investing one’s own moneys as relevant experience in the context of an FMC that is seeking to be regulated to manage monies for third parties. In addition, the period of relevant experience will be considered in assessing the competency of key individuals. For example, an individual with multiple short stints which occurred a long time ago, may not be considered to possess the relevant experience required.