Regional political turmoil and health and economic concerns caused by the Covid-19 pandemic have prompted more wealthy families in Asia to set up primary or satellite family offices in Singapore. According to the Monetary Authority of Singapore (MAS) website, assets managed by single-family offices have risen an estimated five-fold from 2017 to 2019. Earlier this month, Singapore’s senior minister Tharman Shanmugaratnam, who is also the minister in charge of the MAS, said in a written response to a question in parliament that about 200 single family offices manage around $20 billion of assets in the city-state.