Bank of Singapore has launched the Family Office Catalyst, a new initiative designed for ultra-high net worth individuals (UHNWI) seeking professional wealth management in Singapore. This solution provides the benefits of a single-family office (SFO) — such as specialised investment expertise and tax exemptions — without the need to set up and manage a dedicated SFO.
The Family Office Catalyst allows Bank of Singapore to act as the fund manager for the UHNWI’s investment vehicle, which can qualify for tax exemptions under Sections 13O and 13U of the Income Tax Act 1947. The investment vehicle must have at least $20 million in assets under management and will be managed through either discretionary or advisory portfolio management.
Lim Leong Guan, Global Head of Financial Intermediaries, Family Office and Wealth Advisory at Bank of Singapore, highlighted the growing interest among UHNWIs to professionalise wealth management. “Concerns around high operating costs and the challenge of attracting suitable investment talent amid intense competition are prompting them to consider more efficient solutions,” he said.
The Bank’s portfolio management teams, known for their expertise in Asian markets and multi-asset portfolios, have delivered impressive returns. As of June 2025, the Asia equity portfolio achieved a 14.2% year-to-date return, whilst the Singapore equity portfolio posted 12.6% gains. The Bank’s ESG mandate, introduced in 2023, has also delivered over 20% annualised returns.
The Family Office Catalyst aims to provide a cost-efficient and holistic alternative to setting up an SFO, with the flexibility for clients to transition to an SFO structure if desired. This initiative underscores Bank of Singapore’s strategic focus on the UHNWI segment, which saw double-digit growth in assets under management in 2024.
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