The VCC was launched as a new corporate structure that aims to
overcome these constraints by allowing greater operational
flexibility. This can bring cost savings to both investors and fund
managers in the long run.
The idea of a comprehensive and robust investment funds
framework was first floated in 2016. Public consultations were led
by MAS, and implementation of the VCC framework was soon underway.
It officially launched on 15 January 2020.
The VCC's aim is to position Singapore as a leading fund
domiciliation hub. It also helps Singapore to catch up with market
leaders, following the launch of the Asia Region Funds Passport
scheme as well as the European Union's successful funds
passporting scheme, known as the Undertakings for Collective
Investments in Transferable Securities (UCITS).
