Singapore's Deputy Prime Minister and Minister for Trade and Industry (Trade), and Chairman of the Monetary Authority of Singapore (MAS), Gan Kim Yong, stated in a parliamentary reply today that the Hedge Fund Investment Programme (HFIP) aims to attract hedge fund managers to establish or deepen their operations in Singapore. The program will consider the nature and scale of the fund manager's activities in Singapore, plans for building future investment capabilities (including talent development), and investment strategies and track record. MAS is currently engaging with industry stakeholders on the HFIP and will announce further details in due course. Singapore's hedge fund industry has seen a compound annual growth rate of 7.5% over the past five years, with assets under management reaching nearly S$7 trillion.