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Asset Management / Wealth Management
StanChart establishes first VCC in Singapore
New global fund management entity to offer affluent clients innovative investment solutions
Tom King 10 Jun 2024

Standard Chartered Bank has launched its first variable capital company (VCC) in Singapore. The Standard Chartered Funds VCC (SC Fund) is a new corporate entity that will allow the bank to launch a series of funds offering clients exclusive access to tailored investment strategies.

In the initial phase, the funds will be exclusively available to the bank’s high-net-worth clients, with accredited/professional investor status, in the bank’s priority, priority private and private segments in Singapore, Hong Kong and Dubai.

“Singapore is a critically important market for Standard Chartered, with the bank’s global businesses based here. Setting up the bank’s first global VCC in Singapore underscores our commitment to build on the country’s position as a leading regional and global wealth hub,” says Patrick Lee, chief executive officer for Singapore and Asean, Standard Chartered, and chair of SC Fund.

“Through SC Fund, we will be able to issue and manage innovative and relevant fund solutions for our global affluent clients in key markets across Asia, Africa and the Middle East, right here from Singapore.”

Standard Chartered will partner with and appoint leading global fund managers as sub-investment managers to harness synergies between them and the bank’s team of global asset class specialists to deliver hard-to-access, custom-curated investment strategies exclusively to its clients.

The series of funds to be launched under SC Fund will leverage the expertise of leading sub-investment managers, handpicked by the bank’s team of investment professionals, who will be responsible for investment decisions and day-to-day management of the portfolio.

This approach complements and aligns with the bank’s open architecture framework of selecting best-in-class solutions from a range of fund managers and across different asset classes.

Aligned to the bank’s investment advisory for diversification with core holdings, funds to be launched will advocate a long-term strategic asset allocation as part of a client’s foundation portfolio.

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