DFO in the Media
Singapore-based independent asset management company, Das Family Office (FO), is planning to grow its business by targeting wealthy clients in mainland China.
In an interview with Citywire Asia, Mario Becker, chief executive officer and founder said that while the firm had a ‘little over 10 families’ belonging to various nationalities, it would now be focused on high-net-worth individuals (HNWIs) living in China.
‘We have some partners and relationship managers who are very familiar with China and can speak the language. The profiles of our clients could vary. Some clients are looking at traditional family wealth planning solutions, including a potential relocation to Singapore, while others may want to list their businesses and then start certain wealth planning strategies,’ he said.
Currently the firm has more than $500m in assets under management and operates on a fee-based model, rather than on commission. Becker said that it did not believe in chasing AUM, but was looking to grow through client referrals.
Forbes Asia Editors' Pick - DFO's Michael Preiss
Rising living costs are on top of Singaporeans’ minds, as the government warns higher inflation and interest rates are likely to persist. Food prices are expected to double to 8.2% in the second half of this year from 4.1% in June, according to Nomura Holdings, while interest rates have been on an upward trend, with three rate hikes since January. An increase in private spending is likely to help buoy the economy in 2022—GDP is targeted between 3% and 4%—but growth is seen dropping back to 3% by 2023 and 2.9% by 2024.
Read Michael's full article here.
CEO Mario Becker - Kazakhstan-Singapore Business Council
DAS Family Office (Singapore) as the founding member of the Kazakhstan-Singapore Business Council attended its MOU signing ceremony. This event was graced by the Kazakhstan DPM Deputy Prime Minister and Astana International Finance Centre (AIFC) leadership. KSBC aims to promote and enhance the development of commerce and business initiatives between Kazakhstan and Singapore.
Find out more about business opportunities in Kazakhstan by contacting us or read more here.