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Financial Influencers: How A Plumber’s Son Became A Finance Entrepreneur

Financial Influencers: How A Plumber's Son Became A Finance Entrepreneur

© Provided by TheStreet

Alex Morris helps investors know when to wait and when to bet on success.

In the modern era, social media has created many new and exciting job opportunities for those with an entrepreneurial spirit. From the science of baker's yeast to trading stocks for personal gain, if you're knowledgeable and committed, going public is just a few clicks away.

That's a lesson Alex Morris learned. Morris currently runs his own website, The Science of Hitting, and a Twitter account where he chats with his 45.5k followers about today's stocks and more. He took the name of his website from the title of a book recommended by Warren Buffett. Written by baseball player Ted Williams, the book's philosophy was to wait for the right strike before swinging.

But Morris wasn't always on track to become a finance professional. In fact, he went to college and considered studying civil engineering. After all, his father was a plumber. he told TheStreet that he feels he belongs next to his father in the family business.

While Morris was in college, he began to suspect that becoming a plumber was out of the question. He had a "slight entrepreneurial bent" and joked that advanced physics classes helped him realize he was out of his cockpit.

Around this time, Morris, with his eyes set on an unknown future, began sharing some of Warren Buffett's Berkshire Hathaway ( BRK.A ) articles – Get Berkshire Hathaway Inc. the report . In 2007, he and some of his friends were inspired to start a company similar to StubHub, but for college events. As the company grows, so does its interest in financing. It was a year and a half or two years ago that he decided to change his studies.

Launch hits on social media

After graduating from the University of Florida with a degree in finance, Morris was again uncertain about his future. While he dreamed of working at a hedge fund or investment firm, several interviewers told him the same thing. he needs CFA or MBA to get a good job in this field. He said at the time he felt like he was struggling to figure out how to get to the next level.

Morris got work as a writer for several financial websites such as Find Alpha and Guru Focus while working on his CFA and MBA. And after nearly a decade of writing, he found it very useful for developing his ideas. He can also use his readers as a sounding board for his own ideas, which he has found very useful.

About five years ago, he began tweeting his writing and stock market ideas under a pseudonym. There, he says, he found an interactive community. As the world turned upside down in April 2020 and kept many of us safe online, Morris noticed many writers turning to paid newsletter content. After spending a year building his website, online presence and follower base, Morris was able to quit his job at an investment firm and eventually became his own boss. Today he writes the TSOH Investment Research Service newsletter and has hundreds of paying subscribers.

Social media is essential to this business

Morris is clearly a big fan of using social media to learn about the financial landscape. His face lights up when he talks about how the financial industry has evolved over the years. When he began his journey, the approach was very narrow. You can become an analyst or manage your own fund, but there are no obvious alternatives.

With resources like Twitter and Substack, it's now easy for experts like Morris to chart their course. New generations of traders can take the traditional route and make it their own business, which Morris clearly sees as an exciting prospect. As the industry evolves, technology is a valuable resource for enterprising people looking at the financial world from a different perspective.

Morris is also a big fan of this less-traveled route. You make friends with people,” he happily told TheStreet. "In a sense, they have become your colleagues. If you are interested in a specific job, you can ask people who are professionals in that field."

Morris emphasizes that he likes answering questions very much. Their content is perfect for all types of followers, from budding DIYers to people who have been on Wall Street for a while. He jokes that Twitter allows him to gauge the opinions of people "smarter than me."

Symbolic worship. Evangelism and Personal Finance, Part Two

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Finance

Live News Updates: OECD Cuts Global Forecasts And Predicts Fullyear Recession In Europe

If a severe winter exacerbates energy shortages in the region, a recession that could slow global growth awaits next year, the OECD has warned.

In its semi-annual economic outlook published last Monday, the Paris-based agency projected global output growth of 3 percent in 2022 – half of what it saw in 2021 – and cut its 2023 growth forecast from 0.6 percent to 2 percent. 2 percent.

The OECD previously said it expects the global economy to slow and remain in recession following Russia's invasion of Ukraine in February.

The steep decline was driven by forecasts for the US economy, which is now expected to grow 1.5% this year – lower than the percentage predicted in June – and 0.5% in 2023.

The agency highlighted that the shortage of oil from Russia to Europe could be "worse" than expected.

EU gas reserves, even at current levels of 80-90% of capacity, may not be enough to get through a normal winter without falling to dangerously low levels, the OECD said.

The cold winter could worsen supply shortages as Russia fails to secure supplies outside the EU as expected, leading to a "significant spike" in world prices.

If the EU fails to find alternative sources of supply and systematically reduce gas demand, the shortages "could raise global energy prices, undermine confidence and financial stability and require a temporary moderation in business gas use," the OECD said. .

The combination of shocks will push European economic growth above the OECD's baseline forecast of 1.25 percent in 2023 and inflation above 1.5 percent, sending many countries into recession for a year.

Global growth will be 0.5 percent lower and inflation 0.5 percent higher.

World Economic Outlook, April 2022.

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Finance

This Week In Finance News: 10 Stories You Need To See

Cision PR Newswire logo (PRNewsfoto/PR Newswire)

A weekly roundup of the latest financial industry press releases from PR Newswire.

NEW YORK , September 23, 2022 /PRNewswire/ — With thousands of press releases released each week, it can be difficult to keep track of everything on PR Newswire. To help financial journalists keep up to date with the most important and popular news of the week, we have prepared a summary of the week's news.

Cision PR Newswire logo (PRNewsfoto/PR Newswire)

The list below includes the titles (with links to the full text) and excerpts from each story. Click on the title of the press release to access media resources available for download.

  • The Rocket Mortgage Inflation Buster Program helps homebuyers survive higher costs through lower mortgage payments.
    The Inflation Eradication Program gives homebuyers peace of mind by reducing their monthly mortgage payments by one percentage point in the first year of the loan.
  • Despite the severe downturn caused by Bain & Company's new report, investment in technology remains important.
    Bain's third annual Technology Report shows that despite the current economic climate, technology will remain an important investment and a key driver of productivity in global business.
  • America's personal debt fell 25% in three years
    American adults with personal debt had an average of $22,354 in mortgages at the beginning of the year, when inflation was rising, but before a recent spike.
  • Invesco is adding a new ETF to its fixed income portfolio, offering targeted participation in the historically neglected fixed income sector.
    “Invesco offers a range of fixed income ETFs that aim to gain access to approximately 58% of the US fixed income market that is not covered by the overall US bond index,” said Jason Blum , Head of Strategy and Alternatives for Fixed Income. ETFs. in Invesco.
  • First Horizon Mortgage Launches New Diversity Scholarship Program
    The Diversity Grant is designed to provide down payment assistance to borrowers who purchase a primary owner-occupied home in majority and minority census areas in a combined area assessed by the bank.
  • According to the New Profitability Financial Trends Survey, CFOs prioritize supply chain resilience in the face of inflation.
    In addition, the survey shows that 72% of respondents' financial transactions experienced interruptions or delays in the past year due to supply chain issues, pandemic-related impacts, and/or inflation.
  • SkyBridge Capital Leads Metaverse Vulcan Forged Funding Round
    This funding will further accelerate the growth of Vulcan Forged's patented metaverse-as-a-service engine, MetaScapes, and allow the company to scale operations in North America and existing key markets.
  • Social entertainment streaming platform Clover Inc. SPAC has teamed up with FoxWayne Enterprises Acquisition Corp.
    Clover has a growing user base of over 9 million, with almost 90% of users between the ages of 18 and 39. Clover plans to launch virtual reality dating (“virtual reality”) and virtual reality live streaming in the third quarter of 2023.
  • House prices fall for the second month due to the weakening of competition
    Affordability drives market momentum: low-cost markets remain competitive while prices fall fastest in the most expensive markets and markets that experienced the biggest jumps during the pandemic.
  • Concerns about inflation hastened the emergence of a new tool for Edward Jones' team.
    Financial services firm Edward Jones provides its nearly 19,000 financial advisors with interactive tools and secure loan options to help clients cope with complex financial needs and changing market conditions.

    • Read the latest financial releases from PR Newswire and follow the latest from major press releases by following @PRNfinance on Twitter.

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    Former Fox News Politics Editor Slams The Company For Deceiving Its Viewers

    he is active cnn tonight Wednesday, ex. FoxNews This is what political editor Chris Stivalt says. They were released. Online, January 2021. Fox denies this, but some believe it's for a reason. Anger Following the trial, Stirwalt is holding the 2020 presidential election in Arizona. Joe Biden . Although Styrualt didn't hesitate to show it online, he thought Fox was harming his viewers.

    “I saw this audience and these people, they were very deceived, and they were very deceived, and they were hidden for years,” Stivalt said, “when they took away a plate of ice cream, and I, Mr. Green Bob, sat across from me. I told them:“ Oh shit, Donald Trump is not going to get re-elected."

    But Styrowalt said the network, along with others, gave viewers what they wanted.

    “And then, as news consumers, let’s face it,” Strualt said, “it’s not a supply issue, it’s a demand issue, right?”

    Video transcript

    Chris Stirwalt: I see in this audience and in these people that they have been very deceived, and very deceived, and very hidden for many years.

    KYLIE MAR: Former FOX News political editor Chris Stirwalt joined CNN Tonight on Wednesday. He spoke about leaving FOX in January 2021 due to viewer anger after he named the state of Arizona for President Biden in the 2020 election.

    Chris Stirwalt: As American journalists, we have obligations to our country. If we love our country and if we love our people, we must ensure that the work we do does not destroy these goals, but serves them.

    Kylie Marr: Styrualt recently spoke out against her former employer promoting this story and believes it is detrimental to those who gave their lives for this country.

    Chris Stirwalt: When we use fear and we use hate and we use anger and we use paranoia to rank and unite people, then we don't live much – I mean, I think about it. all time. A million American men and women died defending, defending, defending this country.

    KYLIE HONING: But Stirualt says the network only delivers what its viewers want.

    CHRIS STRUWALT: And then, as news consumers, let's face it. It's not a supply issue. This is the side that interests us, isn't it?

    Texas sends immigrant bus to third Democratic-led city

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    Review: The Less You Know About ‘Barbarian, The More Youll Enjoy One Of The Years Best Horror Movies

    In 2007, Quentin Tarantino and Robert Rodriguez tapped up-and-coming genre filmmaker Edgar Wright to create a fake trailer for the double-feature documentary Grindhouse. Wright suggested, "Don't!", insisting in a stern voice. "If you're thinking about moving into this house, don't." If you're thinking of opening this door, don't. If you're planning to go to the basement, don't go." It was funny because it was so obvious and the audience wanted to scream at the screen. "Don't come in."

    This is basically the plot of Jack Crager's The Barbarian, where the less the better. In fact, consider this permission to stop reading this review and buy tickets. Skip the trailers, read the reviews, head to the theaters to see one of the best horror movies of the year.

    How to describe Savage without revealing the best twists? Well, this is the triumph of a new subgenre: Airbnb horror. It all begins on a dark and rainy night when a young woman named Tess (Georgina Campbell) tries to get into a safe Detroit rental house she's booked for a job interview the next day. A light shines within. There is another person at home.

    In a plot that shows the perils of outsourcing real estate management to no-name tech companies, the house is double-booked and Keith (Bill Skarsgård) has already taken up residence. Despite her best instincts, like most modern, independent women, Tess is on high alert, she has no choice and decides to kick him out of the house while he takes care of everything on his own.

    This is the first horror film from Krieger, who is a founding member of the comedy group Whitest Kids U'No, but clearly a fan and student of the genre, a masterful master of tone and scares, he's an exciting young horror director. get up She shows a knack for subverting expectations, so she gives us a horror hero who's smarter than the average scream queen, and a mysterious loner (who once played a famous horror monster) who's a good guy. .

    Throughout the film, the process of establishing and subverting expectations is repeated over and over again. Kreger slowly builds the chilling, thrilling sequences into poignant moments of operatic horror, then quickly moves into another chapter, taking a completely different left turn, taking us all to the mountains of Russia. His ease with comedy helps with those abrupt tonal shifts, and The Barbarian is as funny as it is scary.

    Tess and Keith look back on the awkwardness of their Airbnb mess, but the film broadens its scope to include the house's other residents and owners over the decades. Crager traces the suburban home's journey through time, through white flight in middle-class neighborhoods and subsequent abandonment, ultimately returning it as a free short-term rental market. Rumors of what goes on in this house are known only to locals, highlighting the dangers of a decaying community plagued by exploitative capitalism and creating the perfect anonymous environment to lure unsuspecting, tech-savvy millennials into their homes.

    Crager uses The Savages to explore women as victims, villains, and victors of the horror genre, and how they are endangered and empowered by empathy. The very caring Tess is the perfect victim, but she's also street smart, and her soft skills and ability to read others are her most effective abilities to fight any evil. Campbell's performance is perfectly calibrated, and Creger explains that Tess's emotional intelligence is what gives her a fighting edge.

    Kreger weaves together this multi-layered contemporary social commentary as a chilling horror film inspired by classic horror films and tropes. With fresh ideas and plenty of scary skulls, it's that returning charm that makes this a thrilling new and must-see horror movie of the year.

    Kathy Walsh is a film critic for Tribune News Service

    'wild'

    Rated: R for strong violence and profanity, disturbing material, strong language and nudity

    Duration: 1h43

    Playing: General release begins September 9

    Tomarc The Barbarian Atari 2600 Review – The No Swear Gamer Ep 465

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    The Digital Innovations Behind The Booming Life Sciences Industry

    Life sciences manufacturers are digitizing their operations to provide more personalized services and avoid supply chain disruptions while reducing costs and innovating for the future. IDC analysts have predicted that by 2023, 75% of life science manufacturers will invest in smart supply chain solutions to enable resilience and prevent future disruptions in health emergencies like COVID-19. According to Forrester researchers, precision medicine therapy accounted for 25-40% of all FDA approvals in the past seven years. They believe that precision medicine "has proven its worth with growing evidence of improved patient outcomes in oncology, cardiology, endocrinology and other disease areas." From the patient perspective, Gartner analysts propose a digital-centric vision of a "wellness journey" that prioritizes digital engagement and the use of digital interactions, products and services in a person's journey to health, wellness and illness.

    Data makes life science supply chains smarter

    Michael Townsend, research director for IDC's Life Sciences Business Strategy, sees the industry in the early stages of digitization and focuses on the value of technologies that bring intelligence to the supply chain.

    "Companies are starting to go digital, using technological intelligence to make better decisions," Townsend said. “For example, there has been significant investment in supply chain solutions such as digital twins, where digital models are created to experiment with performance scenarios at different points in the chain, such as: B. assembly, delivery or geography. You can try alternative options without having to make any changes.

    According to Townsend, segmentation is another center of intelligence in the supply chain, enabling companies to identify and store pharmaceuticals and packaging according to country-specific regulations, increase production time, reduce idle inventory and streamline shipments. . Some organizations also use control towers to track demand patterns based on material and component availability to avoid overstocks and shortages. For example, if cases of COVID increase in a certain area, vaccine manufacturers can act more quickly to purchase and distribute prevention and treatment products in that country. Linking data in the supply chain for rapid response time applies to all unforeseen disruptions, including natural disasters and political conflicts.

    Expert wisdom on the surface of the ecosystem

    Mandar Paralkar, SAP Life Sciences Industry Director, agrees that the company is shifting from a historical focus on fighting disease through mass-produced drugs to personalized therapies that improve outcomes for individual patients and involve greater ecosystem collaboration. In industries with longer product development cycles, collaborative consortia like SAP Industry Cloud are a way to share information for faster success.

    "From start-ups to established market leaders, life science companies are using technology to improve patient outcomes and business profitability while reducing costs and risks," said Paralkar. “They recognize the need to compete as an ecosystem through connected digital supply chains and smart factories. One example is SAP Intelligent Clinical Supply Management, a solution we developed together with a consortium of customers and partners. This collaborative effort demonstrates how collaborative cloud innovation has the potential to help life science organizations design, manufacture and deploy effective solutions faster, enabling an ecosystem of partners to deliver value-added services.

    Cloud-based technology revolutionizes life science

    The pandemic has shaken the life sciences, revealing a new vision for innovation through cloud-based collaboration. Almost overnight, companies have invested in technology to enable working from home, leading to new ways of thinking about using technology in areas such as process automation and distributed clinical trials, and relationship collaboration.

    "Collaborative centers where many trusted entities can share information, work together to learn from each other and solve problems are part of the life sciences vision," Townsend said. “Professionals involved in clinical supply chains and other aspects of the life sciences struggle to streamline processes, advise software vendors and share information across systems. Cloud-based software is essential. When using subscription software, updates are almost real-time and it's much easier to collaborate and access different data sources if they're available in the cloud.

    Achieving a healthier and more profitable vision

    As costs and regulatory pressures increase and informed patients demand personalized care, digital innovation will change the life sciences landscape. IDC researchers have predicted that within a few years, 75% of trials will be "patient-centric" distributed clinical trials, 90% will be hybrid and at least 10% will be virtual, thanks to the 30% increase in connected healthcare technologies. . . They say the digital prescription therapy market will triple by 2025, with a focus on mental health and chronic disease, blurring the line between healthcare and life sciences. Notably, Gartner analysts have advised life sciences providers to "prioritize clinical solutions that incorporate interoperability as a core feature, including easier content and data connectivity between clinical sites, sponsors, clinical research organizations and participants others in the ecosystem. Trusted intelligence is critical to a healthier future.

    CSCC Business Insights EP6: Business Opportunities for Slovenians in British Columbia

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    Bajaj Finance Makes Shopping Exciting During Flipkart Big Billion Days With No Cost EMIs

    Things You Can Do On The Bajaj Finserv App Bajaj Finserv
    Things You Can Do On The Bajaj Finserv App Bajaj Finserv

    Pune (Maharashtra) [India], September 21 (ANI/NewsVoir): Bajaj Finance Limited (BFL), the lender arm of Bajaj Finserv Limited and India's largest diversified NBFC, is poised to make shopping more enjoyable for its customers. This holiday season. From September 23-30, 2022, Flipkart's Big Billion Days sale will allow customers to purchase various products with attractive offers and discounts. In partnership with Flipkart, Bajaj Finance has made purchases cheaper for their customers by offering easy financing with no fees, flexible terms for easy payments and no upfront payments.

    This partnership with Flipkart will provide Bajaj Finance customers with a convenient way to pay with an EMI network card. Buyers can now convert purchases to EMI using a network EMI card at no charge. Therefore, customers can take advantage of all Big Billion Days offers and purchase and pay for items such as tools, equipment, gadgets, electronics, clothing and more on AMEs. EMI cards function like pre-insured loans. It doesn't come with any hidden fees, and best of all, refunds are made via EMI at no cost, meaning no added benefits.

    Bajaj Finance customers can call without answer to get a link to the app (https://play.google.com/store/apps/details?id=org.altruist.BajajExperia & shortlink = 3a & c = FK_Ecom_FK & pid) . = E%20Com) and view your card by following a few simple steps – Click the "EMI" icon on the top right, enter your date of birth, press "View" to see the EMI card number and enter their OTP, the mask number shown for the MMI card .

    The EMI Network Card can be easily added to the Flipkart payment page by following the steps below. First find and click Payment Options, then click Add New Card Add your Bajaj Finserver EMI card. Finally, fill in the fields for the card number, expiration date, and name on the card. Enter any future values ​​in 2030 (30/01).

    In addition, to take advantage of the EMI No Payment option, customers can select EMI No Payment as the payment method when adding products to their shopping card. Then select "Bajaj Finserv EMI" and select the appropriate ownership and enter the details of the EMI network card and enter the one-time password on the registered mobile number. After entering the required details, you can complete the transaction by clicking "Submit Application".

    Bajaj Finance customers can choose the most convenient term for paying the amount via the AMI Network Card. In addition, customers can withdraw the loan at any time without additional fees. EMI cards allow consumers to purchase additional products with easy EMI payments when shopping online.

    Click for more details – (https://www.flipkart.com/big-billion-days-store?affid=bajajfinserv & affExtParam1=DPR).

    Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, is one of the largest non-bank financial organizations in the Indian market serving 58 million clients. The Pune-based company offers consumer sustainability, lifestyle financing, digital product financing, personal loans, asset backed loans, small business loans, wallets, co-branded credit cards, two and two, three wheelers and commercial loans. . / Small and Medium Business Loans, Secured Loans, Rural Finance including Gold Loans and Car Repair Loans with Fixed Deposit. Bajaj Finance Limited has the highest national credit rating of AAA/Stable for long-term loans, A1+ for short-term loans and CRISIL AAA/Stable and ICRA AAA (Stable) for its FD program. The long-term issuer has a positive BB+/ rating and a short-term B rating from S&P Global Ratings.

    Visit (https://www.bajajfinserv.in) to find out more.

    This story was reported by NewsVoir. ANI is not responsible for the contents of this article. (Annie / NewsVoir)

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    Finance

    Lower Kharif Sowing Calls For Deft Management Of Foodgrain Stock, Prices: Finance Ministry Report

    Pradhan Mantri Final Call On Free Foodgrains Scheme Extension By September End The Economic Times

    “There is no room for complacency over inflation as lower plantings of kharifs require skillful management of agricultural stocks and market prices without compromising agricultural exports,” the report said.

    “There is no room for complacency over inflation as lower plantings of kharifs require skillful management of agricultural stocks and market prices without compromising agricultural exports,” the report said.

    The Sept. 17 Finance Ministry report highlights the need for sound management of agricultural stocks, given the shrinking crop area during the kharif season, and emphasizes that there should be no room for complacency about inflation.

    Overall, inflationary pressures in India appear to be easing thanks to the government's administrative precautionary package, accommodative monetary policy, and lower global commodity prices and tighter supplies. supply chains, according to the ministry's monthly economic survey. finance. ministry.

    However, he said, "There is no room for complacency over inflation, as lower plantings during the kharif season require skillful management of agricultural stocks and market prices without undue risk to agricultural exports."

    Rice production in India could be reduced by 10-12 million tons in the kharif season this year due to a reduction in the area under rice, Food Minister Sudhanshu Pandey said earlier this month.

    The kharif season accounts for about 80% of India's total rice production.

    Rice planting was greatly delayed in Jharkhand (9.80 lakh), Madhya Pradesh (6.32 lakh), West Bengal (4.45 lakh), Chhattisgarh (3.91 lakh), Uttar Pradesh (2.61 lakh). ha) and Bihar (2.18 lakh ha) this season Kharif.

    Rice is Kharif's main crop and sowing begins in June with the onset of the southwest monsoon and harvesting begins in October.

    Considering India's growth has been strong and inflation subdued, while slower growth and high inflation are affecting most of the world's largest economies.

    The report also shows that inflation in India, a net importer of goods, is the result of external exogenous pressures.

    “The increase in world prices led to an increase in domestic prices, although the increase in domestic prices was relatively modest due to the timely intervention of the government. In addition, inflationary pressures in India are expected to ease as these external pressures ease,” he said.

    Several indicators already point to easing external pressure, the report says, adding that prices for industrial metals and cooking oils have fallen and peaked in 2022.

    Crude oil prices fell 19.1% in August from their peak in June 2022, while supply chains rebounded as port congestion eased.

    The impact is already reflected in the decline in retail inflation and WPI from April 2022.

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    Singapore Outlines Financial Services Overhaul With Eye On Green Finance Boom

    2

    By Chen Lin and Jinghui Kok

    SINGAPORE (Reuters) – Singapore has announced plans to overhaul its financial services sector by 2025 to strengthen its position as a “key battleground” to tackle climate change, raise capital to support sustainable finance and green fintech.

    The “2025 Industrial Transformation Map”, released by the Monetary Authority of Singapore (MAS), will include measures to change the corporate structure used by investment funds, including city-state central banks , family offices, which benefit from tax breaks and 400 USD. million dollars ($285 million) of investment for local industry talent.

    The full plan, the full details of which have not been released, comes as Singapore’s appeal as a financial center in Asia grows amid concerns over prolonged COVID-19 restrictions and increased scrutiny from China. mainland on its rival Hong Kong.

    “If true, our financial center will remain relevant and competitive and become an important global financial hub connecting global markets, supporting Asian development and serving Singapore’s economy,” the Deputy Prime Minister and Minister of Finance said. of Singapore, Lawrence Wong. . minister

    Speaking at a press conference, Wong said there was “growing interest” among the wealthy and family offices to do more in philanthropy.

    The new MAS plan projects Singapore’s financial sector to grow by an average of 4-5% per year from 2021 to 2025 and create an average of 3,000-4,000 net jobs per year.

    The plan includes a fund of US$100 million over five years to support sustainability in the financial sector, such as green fintech, new sustainable financing solutions and reinsurance.

    Asia is the “main battlefield” to fight climate change, Wang said. “The financial sector must do its part – mobilize capital through financing and investments that support the region’s transition to net zero,” he said.

    The story continues

    Under the plan, the corporate structure used by the investment fund will be “enhanced” with family offices known as companies with variable capital (CVC), although details of the expansion are not yet known. not disclosed later. The VCC was first introduced in 2020 and offers tax exemptions.

    MAS said it has received a request to improve the structure of the VCC so that more industry participants and asset owners can manage the VCC and convert the existing business structure into a VCC.

    “The wealth management industry in Singapore has continued to perform well in recent years, recording healthy growth despite the pandemic. We are seeing inflows from multiple sources outside of Singapore, including North America, Europe, North Asia and South East Asia,” MAS said.

    ($1 = 1.4050 Singapore dollars)

    (Reporting by Chen Lin and Jinghui Kok in Singapore; Editing by Kenneth Maxwell)

    Against money laundering, against the financing of terrorism and financial crime