Webinar

In conversation with the Monetary Authority of Singapore: VCC framework – new fund domiciliation opportunities in Asia

On 15 January 2020, the Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (ACRA) launched a new, flexible corporate structure under which investment funds can be created – the Variable Capital Companies framework (VCC).

Widely hailed as a game-changer for the fund management industry, both in Asia and the world beyond, the VCC provides an alternative to Singapore’s existing structures, namely, unit trusts, limited partnerships and companies. This pioneering fund framework (which allows set-up of collective investment schemes, whether open-end or closed-end), has propelled Singapore to the forefront of the investment world and is opening-up many new options for fund and wealth managers to structure their investments. Pinsent Masons’ Partner, Valerie Wu, successfully set-up the first 20 VCCs as part of the pilot program in collaboration with MAS, with several more in the pipeline. To date, there have been 137 Singapore VCCs set-up, with numerous others underway. Our international Investment Funds & Asset Management team are delighted to be joined by Fumin Feng – Deputy Director, Financial Markets Development, from MAS to discuss:

• The fundamentals of a Singapore VCC structure;

• The practical and operational aspects of setting-up a VCC;

• The merits of a Singapore VCC compared to offerings from the UK, Ireland and Germany.