Singapore | Leading financial centre in Asia | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more

This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.

Singapore MAS FY2020/2021 Report: AUM Reaches $3.48 Trillion

13 July 2021 | Singapore

Singapore Central Bank Monetary Authority of Singapore (MAS) has released the FY2020/2021 annual report.  In 2020, Assets under Management (AUM) grew 17% to $3.48 trillion (S$4.7 trillion), financial services sector grew 5.1%, MAS recorded net profit of $3.85 billion (S$5.2 billion) with a total capital and reserves of $35.19 billion (S$47.5 billion).  

” AUM Reaches $3.48 Trillion “


- Article continues below -

Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)

The 2024 Investment Day
5th June Hong Kong | 12th June Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 5th June 2024 in Hong Kong, 12th June 2024 in Singapore.
Visit | Register here

The 2024 Family Office Summit
16th Oct Hong Kong | 23rd Oct Singapore

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here

Key MAS FY2020/2021 Report Highlights:

Singapore | Leading financial centre in Asia
  • AUM: $3.48 trillion (S$4.7 trillion) / +17% YOY
  • Total Capital and Reserves: $35.19 billion (S$47.5 billion)
  • Investment Return: $6.07 billion (S$8.2 billion)
  • Net Profit: $3.85 billion (S$5.2 billion)
  • Return to Government: $1.93 billion (S$2.6 billion)
  • Financial Services Sector Growth:  5.1%
  • Financial Services Sector Growth:  6% (2021 1H estimate)
  • 3 months SORA*: Averages 0.18% in 2021 Q1 (0.68% in 2020 Q1)

* SORA – Singapore Overnight Rate Average


1. MAS Financial Position

The investment return from the Official Foreign Reserves was S$8.2 billion in FY2020/21.  This comprised:

  • Investment gains of S$22.8 billion, mainly from interest income and realised capital gains.
  • This was largely offset by a negative currency translation effect of S$14.6 billion, mainly due to the strengthening of the Singapore Dollar against the US Dollar and Japanese Yen.

For the financial year, MAS made a net profit of S$5.2 billion. This was after:

  • deducting S$1.9 billion of expenses for domestic money market and other operations; and
  • contributing S$1.1 billion to the Government’s Consolidated Fund, as payment in lieu of corporate income tax.

MAS will return half of the profits, or S$2.6 billion to the Government and the remainder will be added to MAS’ reserves.


2. Financial Sector

In 2020, the financial services sector excluding holding companies grew by 5.1% even as the overall economy contracted. In the first half of this year, we estimate the sector grew by about 6%.

Growth has been broad-based across the financial services sector.

  • The banking industry has been supported by strong fee income growth.
  • The insurance industry expanded strongly on the back of robust demand for single-premium life insurance products.
  • The payments industry grew significantly as adoption of e-payments gained traction with businesses and individuals moving towards online transactions.
  • Assets under management in Singapore grew by 17% year-on-year, to S$4.7 trillion as at end-2020, driven by strong inflows into traditional and alternative investment strategiesSuch as private equity, real estate, REITs, and venture capital. as well as valuation gains.  About 56% of the growth is attributed to net inflows and the remaining 44% to valuation gains across major asset markets.


3. Singapore Monetary Policy

Even as Singapore emerges from the trough of the COVID-19 crisis, MAS has been keeping a close watch for risks to macroeconomic stability and market liquidity.

MAS reaffirmed in October 2020 and in April this year the accommodative monetary policy stance it adopted in March last year of a 0% appreciation path for the nominal effective exchange rate policy band.

The easing of monetary policy last year was to prevent a broadening of disinflationary pressures following the sharp fall-off in economic activity after the onset of the pandemic.

While the risk of persistent disinflation has receded, core inflation remains below its historical average and the current policy stance remains appropriate for now.


4. Market Liquidity

MAS has continued to keep domestic liquidity conditions accommodative to support the recovery.

Singapore Dollar interest rates have remained at low levels since they eased in March last year alongside global interest rates.

The 3-month compounded SORA has averaged 0.18% since the beginning of this year, which is more than 0.5% lower than the levels seen in Q1 last year.


Chairman Monetary Authority of Singapore Board, Tharman Shanmugaratnam
MAS Chairman Mr Tharman Shanmugaratnam Foreword:

“MAS has progressively over the five decades become a  central bank and integrated financial supervisor of repute amongst its international peers, a source of confidence domestically, and an active partner with the industry in developing opportunities for Singapore’s growth as an international financial centre.”



Ravi Menon Managing Director Monetary Authority of Singapore
MAS Managing Director Ravi Menon Concluding Remark:

“My colleagues and I are deeply conscious of the legacy which we have inherited and will continue to do our best for Singapore:

  • to secure for Singaporeans a low rate of inflation;
  • to preserve the purchasing power of Singapore’s official foreign reserves;
  • to keep Singapore’s financial system safe and sound; and
  • to grow Singapore as a vibrant international financial centre.

With that, let me close my remarks.  Thank you.”


2021 is Monetary Authority of Singapore (MAS) 50th anniversary.

Remarks by Mr Ravi Menon, Managing Director, MAS at the MAS Annual Report 2020/2021 Virtual Media Conference on 30 June 2021





About Monetary Authority of Singapore

Monetary Authority Of Singapore
Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator. The Monetary Authority of Singapore (MAS) promotes sustained, non-inflationary economic growth through appropriate monetary policy formulation and close macroeconomic surveillance of emerging trends and potential vulnerabilities.

As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore – banks, insurers, capital market intermediaries, financial advisors, and stock exchanges. It is also responsible for well-functioning financial markets, sound conduct, and investor education.

MAS also works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry.

Visit: Monetary Authority of Singapore

Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected] | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?

Quick Links

2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM

For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register

    InvestorProfessionalFamily OfficeExecutive


    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights

    Web links may be disabled on mobile for security.
    Please click on desktop.

    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • June 2024 - Hong Kong
    • June 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]

    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014

    Previous articleChina Electric Car XPeng IPO in Hong Kong, Market Value at $35 Billion Founder Xiaopeng with $7 Billion Fortune
    Next articleMalaysia Govt & 1MDB File $5.6 Billion Lawsuit Against 44 Partners of KPMG for Audit Breaches and Negligence covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia