The Monetary Authority of Singapore (MAS) and the Accounting and
Corporate Regulatory Authority (ACRA) officially launched the
much-anticipated Variable Capital Companies (VCC) framework on 15
January 2020.
As a leading asset management hub with USD 2.4 trillion AUM,
Singapore has long served as the investment gateway to Asia, with
67% of the total AUM invested in Asia Pacific1. In line
with the hunt for yields in Asia's emerging countries, more
than 30% of this AUM were investments into the Association of
Southeast Asian Nations (ASEAN) countries.
SG AUM increased from approximately SGD 1.6 trillion in
20122
Leveraging on its strategic geographical location, stable
political climate and an investment friendly regime (neither
capital gains nor dividend taxes) the idea of a comprehensive and
robust investment funds framework was floated in 20163.
Public consultations led by MAS and implementation of the VCC
framework were soon underway. The aim is to
