Standard Chartered sets up first global fund management unit in Singapore

The initial fund will be exclusive to Singapore, Hong Kong and Dubai clients.

British banking giant Standard Chartered Bank has set up its first-ever variable
capital company (VCC) in Singapore to offer high net-worth clients “custom-curated investment strategies.”

For its initial phase, the unit dubbed Standard Chartered Funds VCC (SC Fund) will offer funds that are exclusive to the bank’s high-net-worth clients with accredited and professional investor status in Singapore, Hong Kong and Dubai.

The platform aims to set up a series of funds focused on a long-term strategic asset allocation as part of a client’s foundation portfolio. 

To deliver unique and hard-to-access strategies, Standard Chartered said its team of global asset class specialists will collaborate with leading global fund managers in the industry who will serve as sub-investment managers.

“Through SC Fund, we will be able to issue and manage innovative and relevant fund solutions for our global affluent clients in key markets across Asia, Africa and the Middle East, right here from Singapore,” said Patrick Lee, CEO for Singapore and ASEAN of Standard Chartered and chair of SC Fund.

In September, the bank teamed up with Singapore-headquartered fintech Starfish Digital to boost its cash management offering with multibank connectivity service.