Budget Speech
SUPPORTING GROWTH AND CREATING EMPLOYMENT
Consolidating our financial system
91. Let me also announce that licence fees for Management Companies will now be based on turnover so as to be fair to the smaller ones.
- The Annual Fee payable to the Financial Services Commission (FSC) for a Management Licence is a fixed USD 5,000
- There are over 160 licensed Management Companies (MCs)
- The turnover of the 10 leading MCs represent approximately 65% of the total turnover reported by MCs
