Valverde Investment Partners (Valverde) has chosen Northern Trust to handle cash management, foreign exchange, custody, and fund administration for its recently established Variable Capital Company (VCC) fund and its ASEAN+ Fund sub-fund (VAPF).
Valverde is a recently founded independent investment management company with its headquarters in Singapore that focuses on ASEAN stocks.
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In order to achieve long-term absolute returns, Valverde launched the VCC and its sub-fund, the Valverde ASEAN+ Fund (VAPF), which is mainly made up of publicly traded stocks within ASEAN businesses.
To assist with a variety of complex investment strategies across the entire spectrum of asset classes, Northern Trust’s Global Fund Services business offers services such as fund administration, depositary, global custody, investment operations outsourcing, and data solutions to global investment managers.
In Singapore, this includes managing VCC fund structures that are introduced as separate Singapore funds or umbrella structures that have sub-funds having Singaporean domicile.
Moreover, Northern Trust has offices throughout Asia Pacific, including Beijing, Bengaluru, Hong Kong, Kuala Lumpur, Manila, Melbourne, Pune, Singapore, Sydney, and Tokyo.
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By GlobalDataIt has close ties with some of the region’s major asset managers, central banks, sovereign wealth funds, governments, and businesses.
Yen Leng Ong, Country Executive, Southeast Asia, Northern Trust stated: “We have seen VCC funds continue to grow in popularity since the scheme was first launched in 2020, and we are delighted to work with Valverde as they embark on their first VCC. This appointment helps underline our position as a premier provider of custody and fund services to asset managers in Singapore.”
John Foo, founder, and CEO at Valverde stated: “Launching a VCC fund comes with inherent complexities, and we were seeking a partner that could help us manage these from both a custodial and fund administration perspective. We were especially impressed by Northern Trust’s global expertise and focus on clients such as ourselves, which aligns with our dedication to providing top-tier investment solutions and client service to our investors.”
