Section 13U: sourced answers
1 answer to specific questions — each with a verbatim quote from an official source and a link to it.
Every answer is checked against a verbatim quote from a stored copy of its source and has passed an independent review. This is reference information, not legal advice: rules change, and the outcome depends on your circumstances.
Fund: supplement to the legal-form questionnaire
Is the MAS ordinary new-SFO AUM-in-DI threshold met at application and every applicable basis-period end?
For an award within the Circular’s default new-SFO scope, the ordinary AUM-in-DI rule requires at least S$50 million at application and at every applicable basis-period end, excluding investments in the family’s operating businesses.
This tests the ordinary AUM path only. The separate committed-capital concession, private award conditions and full 13O/13U eligibility are not decided. The supplied period series must be verified as complete.
«Unless otherwise notified by MAS in writing»
Source: MAS FDD Cir 05/2026, 31 July 2026 · source copy as of 2026-10-02
«b) has a minimum fund size of S$50 million127 of assets under management invested in Designated Investments (“AUM in DI”) 128 at the point of application, and at the end of each basis period relating to any YA;»
Source: MAS FDD Cir 05/2026, 31 July 2026 · source copy as of 2026-10-02
«approved on or after 1 August 2026»
Source: MAS FDD Cir 05/2026, 31 July 2026 · source copy as of 2026-10-02
«127 The SFO fund’s investment (whether in the form of equity, debt or other financing arrangements) in the operating businesses of the family cannot be counted towards meeting the minimum AUM in DI condition. However, such investment shall count towards the SFO fund’s AUM in DI for the purposes of all other conditions, if the investment qualifies as DI.»
Source: MAS FDD Cir 05/2026, 31 July 2026 · source copy as of 2026-10-02
«paragraph 5(1)(ba) of the Second Schedule»
Source: MAS FDD Cir 05/2026, 31 July 2026 · source copy as of 2026-10-02
«assets primarily originated from member(s) of the same family»
Source: MAS FDD Cir 05/2026, 31 July 2026 · source copy as of 2026-10-02
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