Valverde Investment Partners (Valverde) has appointed Northern Trust to provide custody, fund administration, foreign exchange and cash management services for its newly formed Variable Capital Company (VCC) fund, along with its sub-fund, ASEAN+ Fund (VAPF).
The company says the VCC and its sub-fund represent Valverde’s goal of achieving long-term absolute returns, primarily composed of public traded equities within ASEAN companies.
Commenting on the acquisition, Yen Leng Ong, country executive, Southeast Asia at Northern Trust, says: “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, adds: “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.”
