An advisory firm that specialises in serving UK expats in Singapore has launched a new discretionary investment service.

The Fry Group, a global financial advisory group which focuses on serving UK expats living in Singapore, has launched a new discretionary investment service. The offering will be operated by Purple Asset Management, a joint venture launched recently by The Fry Group and Independent Strategic Group.

PAM will be powering the solution through a dedicated team based in Singapore, The Fry Group said in a statement today.  

“Our investment service is a fast-growing and exciting part of our business,” David Pugh, director of The Fry Group, Singapore.

“There’s a gap in the market for expat wealth advisers to offer a discretionary service that fully utilises a combination of rigorous analysis, supported by the transparency and the efficiency of technology,” Alan Scrimger, chief executive of Purple Asset Management and MD of the ISG Group, said.

The PAM team will be selecting a range of funds and strategies focusing on wealth preservation, capital appreciation and downside risk management.

The Fry Group has offices throughout the UK, Belgium, Spain, Hong Kong and Singapore. It was founded in 1898. PAM is regulated by the Monetary Authority of Singapore.