BNP Paribas Securities Services has been appointed by Kamet Capital Partners to provide fund administration and global custody services in Singapore.
Kamet Capital Partners is one of the first fund managers to use Singapore’s new variable capital company (VCC) structure.
The Variable Capital Companies Act came into effect in January this year and is designed to strengthen Singapore’s status as a regional fund distribution hub.
Kerry Goh, CEO of Kamet Capital Partners, said: “We spent time understanding the services of many fund administrators and custodians before coming to a decision. We selected BNP Paribas Securities Services for its attention to client needs and willingness to grow alongside Kamet.”
Diana Senanayake, head of BNP Paribas Securities Services Singapore, commented: “We are delighted to be appointed by Kamet Capital and to support such an innovative manager in its plans to use the VCC. This demonstrates our team’s strength supporting our clients’ international growth from Singapore.”
“We have been the first to support clients in accessing many of the newly created schemes across the region, including the mutual recognition of funds schemes between Asia and Europe,” Senanayake added.
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