Singapore’s single family offices likely to merge, find alternative models

WHILE Singapore remains an attractive global financial hub, wealthy families are now considering other options besides setting up their own single family offices (SFOs) here to better suit their needs.

Industry players noted that SFOs in Singapore are likely to merge or find alternative models amid the rising cost of operations.

“The trend of setting up a family office just as a fashion statement will likely come down,” said Sanjay Guglani, founder and chief investment officer of Silverdale Funds, and chief executive officer of Silverdale Capital.

Guglani said that since the third quarter of 2023, the fund manager has received more queries from clients to set up bespoke funds than the whole…