Singapore will let fund managers meet its S$30,000 ONE Pass pay bar with at least S$15,000 in fixed monthly salary plus variable pay, and has begun scoping measures for growth and mid-market capital, MAS's deputy chairman said on 29 September 2026.

TL;DR

  • Chee Hong Tat, Deputy Chairman of the Monetary Authority of Singapore (MAS), said applicants to the new ONE Pass Investment Management Track can reach the S$30,000 qualifying salary with a minimum fixed S$15,000 a month plus variable pay.
  • Applicants must also have met the salary test for the past three years, and the changes are described as proposed.
  • A MAS and Ministry of Trade and Industry Growth Capital Workgroup is moving to concrete measures on growth-stage investing, exits and the financing chain.

What did MAS say at SuperReturn Asia?

Chee Hong Tat, who is Minister for National Development and Deputy Chairman of MAS, Singapore's central bank and financial regulator, gave the keynote at SuperReturn Asia, a private markets conference, on 29 September 2026. He said Singapore manages close to S$7 trillion in assets across more than 1,300 asset managers and hosts seven of the top 10 global private market managers. These are MAS's own figures. He added that asset managers have shown strong interest since the August package of measures was announced.

How will the new ONE Pass track work?

The ONE Pass, short for Overseas Networks and Expertise Pass, is Singapore's work pass for global leaders. Under the Investment Management Track announced on 19 August, applicants can meet the S$30,000 qualifying salary through a minimum fixed salary of S$15,000 a month plus other variable pay, and must meet the salary criteria for the past three years. Chee said it targets founders, equity partners and senior decision makers of global asset managers, and that MAS will support applications for permanent residency through the Global Investor Programme.

What is the Growth Capital Workgroup looking at?

MAS and the Ministry of Trade and Industry convened the Growth Capital Workgroup earlier this year to examine how companies access capital as they scale, how investors realise investments, and how capital is recycled. Chee named three opportunities: supporting companies at different growth stages, including growth-stage and mid-market investing; broadening exits through M&A, strategic sales, private-market secondaries and continuation vehicles; and deepening capabilities across the financing chain. The next phase will develop concrete measures, and ideas from industry include incentives, seed funding and risk-sharing arrangements.

Why does it matter for Asian allocators?

Chee framed the push around heavy investment needs from AI, the energy transition and shifting supply chains, and noted a growing pool of Asian companies seeking capital to scale. For allocators and family offices in the region, the open question is whether a deeper base of Singapore-based managers and a broader exit toolkit widen the mid-market and secondaries options available to them. That is our inference, not a MAS claim. Related coverage on Alt Asset Asia includes Taiwan easing offshore private fund investor caps, IFM Investors opening a Singapore office, and Goldman Sachs launching a dedicated Asia private equity fund. This is not investment advice.

What is not confirmed?

The Investment Management Track changes are described in the speech as proposed. Law-firm summaries say details of the tax exemption are expected at Singapore's Budget in February 2027, and the size and terms of the MAS Hedge Fund Investment Programme have not been disclosed. No timeline was given for the Workgroup's measures.

Frequently Asked Questions

What salary does the new ONE Pass track require?

A S$30,000 qualifying salary, which can combine a minimum fixed S$15,000 a month with variable pay, sustained over the past three years, per MAS.

What did MAS announce on 19 August 2026?

A tax exemption for profit-related returns from fund management services to qualifying funds, a new hedge fund investment programme, and a new Investment Management Track under the ONE Pass.

What is the Growth Capital Workgroup?

A group convened by MAS and the Ministry of Trade and Industry earlier in 2026 to review how companies raise growth capital, how investors exit and how capital is recycled.

Sources and Method

Primary sources: MAS keynote by Chee Hong Tat, SuperReturn Asia, 29 September 2026, https://www.mas.gov.sg/news/speeches/2026/connecting-capital-and-opportunity-building-a-trusted-growth-capital-ecosystem , and MAS media release, 19 August 2026. Independent sources: Sidley Austin update, August 2026; Entrepreneur APAC, 20 August 2026; HR Online, August 2026. Original Alt Asset Asia rewrite; figures are MAS's unless stated.