Standard Chartered Bank has initiated its first variable capital company (VCC) in Singapore, introducing the Standard Chartered Funds VCC (SC Fund). This new corporate entity will offer clients unique access to specialized investment strategies, facilitated through collaborations with top global fund managers acting as sub-investment managers.
The launch of the SC Fund aligns with the bank’s open architectural framework, which incorporates a diverse range of solutions from various fund managers and asset classes. This approach allows the bank to curate exclusive investment opportunities tailored specifically for its clients.
The bank’s seasoned team of investment specialists, located worldwide, is foundational to the SC Fund’s operational strategy. This team, renowned for their expertise in fund selection and investment management, employs a stringent manager selection process. This process aims to identify investment techniques that consistently deliver superior long-term performance, ensured by rigorous due diligence.
The bank will assign qualified sub-investment managers to the SC Fund series, who will then take on the responsibility of making investment decisions and managing the portfolios daily.
Initially, the offerings of the SC Fund will be available exclusively to the bank’s high-net-worth clients who are Accredited/Professional Investors in Singapore, Hong Kong, and Dubai, across the bank’s Priority, Priority Private, and Private segments.
Patrick Lee, CEO for Singapore and ASEAN at Standard Chartered, emphasized the strategic significance of Singapore for the bank, noting that establishing the VCC in Singapore reaffirms their commitment to reinforcing the country’s status as a premier global and regional wealth hub. He highlighted that the SC Fund would facilitate the creation and management of innovative fund solutions for the bank’s affluent clients globally from Singapore.
Samir Subberwal, Global Head of Wealth Solutions, Deposits and Mortgages, and Chief Client Officer at Standard Chartered, expressed the bank’s commitment to offering unique and exclusive solutions to help clients manage and grow their wealth. He stated that the bank continually strives to innovate its wealth management solutions, leveraging its extensive experience and broad network across its market presence. He concluded by expressing enthusiasm about making the SC Fund’s solutions available soon to clients in additional key markets.
