Singapore's new fund structure makes a strong start

ST ILLUSTRATION: MANNY FRANCISCO

78 funds set up since launch in January; MAS looking at tweaks to cater to robust response

Despite the Covid-19 pandemic casting the financial world into a state of tumult, Singapore has made surprising progress in its latest attempt to woo fund managers to its shores.

In fact, the response to the new fund management structure - enshrined under the Variable Capital Companies (VCCs) Act that went into effect in January - has been so overwhelming that the authorities are looking at ways to tweak the framework to accommodate growing interest and more products.

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A version of this article appeared in the print edition of The Straits Times on July 07, 2020, with the headline 'Singapore's new fund structure makes a strong start'. Print Edition | Subscribe