Standard Chartered sets up first global fund management entity in Singapore

STANDARD Chartered has incorporated its first variable capital company (VCC) in Singapore, the banking group announced on Monday (Jun 10).

Its new global fund management entity, Standard Chartered Funds VCC (SC Fund), will enable the group to launch a series of funds catered to its high-net-worth clients. 

The fund will offer such clients exclusive access to custom-curated strategies, which Standard Chartered said is typically “hard to access”. 

The bank said that its team of investment professionals will partner with and appoint industry-leading global fund managers as sub-investment managers, who will be responsible for investment decisions and day-to-day management of the portfolio. 

The series of funds to be launched will advocate a long term strategic asset allocation as part of a client’s foundation portfolio. The bank noted that this is aligned with its advisory for diversification with core holdings. 

In the initial phase, these funds will be available to clients with accredited and professional investor status within its priority, priority private, and private segments across Singapore, Hong Kong and Dubai. 

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“We are delighted to offer the first solution under SC Fund to high-net-worth clients in Singapore, Hong Kong and Dubai, and look forward to extending the same offering to clients in other key markets very soon,” said Samir Subberwal, the bank’s global head, wealth solutions, deposits and mortgages and chief client officer.