Yangzijiang Financial signs MOU with ADDX to distribute funds

YANGZIJIANG Financial Holding announced on Thursday (Mar 9) that it has signed a memorandum of understanding (MOU) with private market exchange ADDX to distribute funds on its platform.

Chief executive officer and chief investment officer of Yangzijiang Financial Vincent Toe said that ADDX’s platform will serve as an additional distribution channel for funds managed by the group, broadening the group’s reach and potentially boosting its total assets under management.

These include the earlier-announced Yangzijiang Maritime Private Equity Fund #2, which has a target fund size of US$600 million, as well as a cash management fund that will be established with a target fund size of S$200 million. The maritime fund has secured capital commitments of US$500 million.

Yangzijiang Financial noted that ADDX’s use of blockchain and smart contract technology reduces manual interventions in issuance, custody and distribution of private market products.

“The resulting efficiency allows the platform to fractionalise investments in a scalable and commercially viable manner, reducing minimum investment sizes, and thereby widening investor access to private markets,” the company said.

Shares of Yangzijiang Financial closed at S$0.395, up 3.9 per cent or S$0.015 before the announcement.