In a written reply in Parliament, Singapore's Deputy Prime Minister, Minister for Trade and Industry, and Chairman of the Monetary Authority of Singapore, Gan Kim Yong, stated that these SFOs manage family funds from various countries and regions, including Asia, Europe, and the Americas. In 2025, Singapore's broader asset management industry grew by 10.1%, with total assets under management reaching S$6.7 trillion. SFOs also grew in tandem, making a positive contribution to employment demand in asset management and auxiliary service sectors such as private banking, legal, and tax advisory.