Over the past few years, we have seen a shake-up of the funds
industry both offshore and onshore in Asia – with some
onshore jurisdictions offering up new and exciting fund products,
such as Singapore's variable capital company (VCC) and Hong
Kong's open-ended fund company (OFC) as well as the limited
partnership fund regime – to both rival and complement more
traditional, established fund vehicles.
Meanwhile, certain jurisdictions in the offshore world continue
to upgrade their regulations to remain aligned with 'gold
standard' international practices, including most recently with
the Cayman Islands and the British Virgin Islands (BVI) bringing,
for the first time ever, closed-ended funds into regulation.
