Singapore's new VCC Act the main event drawing funds here

Singapore

DEMAND for Singapore office space will remain slack for a while as companies continue to shed workers to deal with the Covid-19 pandemic, but fund managers and family offices which have been increasing their presence here could mitigate some of the spare capacity.

Fund or asset management companies are flocking here, with many said to be from Hong Kong due to concerns over a new security law, but it is Singapore's new Variable Capital Companies (VCC) regime that is the main appeal, a game changer for the fund management industry.