Vanguard Singapore operates as an exempt Financial Adviser and as an exempt Fund Manager under Singapore law and is therefore subject to the restrictions in the relevant laws and regulations. The information on the "Investment Solutions" and "News & Resources" webpages is only intended for accredited and institutional investors as defined in the Financial Advisers Act and the Securities and Futures Act Singapore statutes).
Accredited investor means:
(a) an individual (i) whose net personal assets exceed $2 million in value (or its equivalent in a foreign currency); or (ii) whose income in the preceding 12 months is not less than $300,000 (or its equivalent in a foreign currency);
(b) a corporation with net assets exceeding $10 million in value (or its equivalent in a foreign currency), as determined by (i) the most recent audited balance-sheet of the corporation; or (ii) where the corporation is not required to prepare audited accounts regularly, a balance-sheet of the corporation certified by the corporation as giving a true and fair view of the state of affairs of the corporation as of the date of the balance-sheet, which is a date within the preceding 12 months;
(c) the trustee of a trust of which all property and rights of any kind whatsoever held on trust for the beneficiaries of the trust exceed $10 million in value (or its equivalent in a foreign currency);
(d) an entity (other than a corporation) with net assets exceeding $10 million in value (or its equivalent in a foreign currency);
(e) a partnership (other than a limited liability partnership within the meaning of the Limited Liability Partnerships Act 2005 (Singapore Statute) in which each partner is an accredited investor; or
(f) a corporation the sole business of which is to hold investments and the entire share capital of which is owned by one or more persons,each of whom is an accredited investor.
Institutional investor means:
(a) a bank that is licensed under the Banking Act (Singapore statute);
(b) a merchant bank that is approved as a financial institution under section 28 of the Monetary Authority of Singapore Act (Singapore statute);
(c) a finance company that is licensed under the Finance Companies Act (Singapore statute);
(d) a company or society registered under the Insurance Act (Singapore statute) as an insurer;
(e) a company registered under the Trust Companies Act (Singapore statute);
(f) the Government of Singapore;
(g) a statutory body established under any Singapore statute;
(h) a pension fund or collective investment scheme;
(i) the holder of a capital markets services licence for (i) dealing in securities, (ii) fund management, (iii) providing custodial services for securities, (iv) securities financing; or (v) trading in futures contracts; or
(j) a person (other than an individual) who carries on the business of dealing in bonds with accredited investors or expert investors as defined in the Financial Advisers Regulations 2002 (as amended), made pursuant to the Financial Advisers Act (Singapore statute).
