Singapore reviews hedge funds, private equity rules (Update 1)

Hedge funds and private-equity firms are under scrutiny from regulators and lawmakers worldwide, who say they are partly to blame for the worst financial crisis in a generation. Singapore's hedge-fund industry has grown into Asia's second biggest as the government lured investment management professionals with tax incentives and grants. ?They're aware of the need to find the right balance,? said Melvyn Teo , director at the BNP Paribas Hedge Fund Centre at SMU. ?It will make Singapore less appealing to really small, young hedge funds, but the industry is maturing at the moment. We might still be quite attractive to more established larger ones.?