Foxwood’s Ramblings

Phone on table, dark blurred cafe background.

In the space of 2 months, global events have not stopped its relentless march. The Ukrainian war that has yet to see an ending has cast a dark shadow over the globe.  Amidst the doom and gloom, it does appear that the world is finding its way out of the Covid crisis that has impacted everyone over the last years. Life must go on. Global economics must go on.

Singapore has long been an asset management hub as well as a highly popular investment gateway to Asia. In January 2020, the Monetary Authority of Singapore (“MAS”) launched the much-anticipated Variable Capital Companies (“VCC”) framework which aimed to position Singapore as a leading fund domiciliation hub. As of writing, there are more than 500 variable capital companies that have been set up in Singapore with many more applications currently under review by the MAS.

In this issue, we are focusing our efforts on exploring the VCC framework, the tax exemptions related, the need for independent board support and how VCCs can tie in with family offices. We cap things off with our artist spotlight on the immensely talented Kim Jung Gi.