When we launched FSM in Singapore in the year 2000, easily accessible research into funds was a rare commodity. As a new entrant in the market, we turned things around with our value proposition: we were clear from day one that we must provide a new alternative to investors, one that focuses on the availability of extensive research for all investors. We were unknown in the marketplace when we rolled out FSM, but that we provided research, and a competitive and transparent pricing structure to boot, were seen by the investor community as a refreshing change and led to a powerful ‘word-of-mouth’ effect among investors.