Funds industry still growing in Singapore

The Monetary Authority of Singapore (MAS) has released data showing that the Lion City continues to grow its fund management industry. The de-facto central bank says in 2001, total assets managed in Singapore grew by 11% to S$307 billion ($171.45 billion), with both discretionary and non-discretionary assets posting gains.Last year was a lousy year for the funds industry, which struggled against the popping of the Nasdaq bubble and anaemic economic growth. Worse for Singapore, the new…