Singapore, • 3 January 2019 – Elite Partners Capital Limited (“Elite” or “the Company”) announced today that it has received its Capital Markets Services (“CMS”) Licence (Licence No. 100777) under the Securities and Futures Act (CAP. 289) of the Monetary Authority of Singapore (“MAS”).
The licence permits Elite to provide a full range of investment management services including fund management, marketing and sale of funds, to accredited investors. Licence holders must be incorporated in Singapore with a strong track record in fund management, and set in place clear frameworks for compliance and risk management, among others.
“This achievement is proof of our strong regulatory standing and ongoing efforts to provide innovative, well-defined wealth management products and services for individual and institutional investors. We thank the MAS for granting us this licence, which enables us to better serve our investor base in Singapore and around the world,” said CEO Victor Song.
Elite, which focuses on real estate and alternative investments, has operated as a registered fund management company since September 2017. The Company received its provisional CMS licence in November 2018. That same month, its Singapore-domiciled Elite U.K. Commercial Fund completed its first major transaction, the £282.15 million (S$508 million) acquisition of a commercial real estate portfolio in the United Kingdom.
As at 3 January 2019, Elite had AUM of about S$560 million and more than a dozen accredited investors. These numbers are expected to rise as new funds are launched