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What happens if a S13O awardee has an AUM of S$10 million at the point of application but is unable to meet the required AUM of S$20 million by the end of the two-year grace period as stipulated in the letter of award1?

Updated by MAS
  • Awardees may fulfill the AUM conditions by the end of the grace period based on either the net asset value of the fund or the value of the fund’s gross assets in designated investments.
  • If the awardee is unable to meet the incentive’s requirement by the end of the grace period, the award will be revoked from the end of the grace period.

This information is sourced from MAS.

Topics:

Schemes for Single Family OfficesAssets Under Management ("AUM")

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