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Singapore to introduce new corporate structure for investment funds

The Monetary Authority of Singapore is introducing a new corporate structure for investment funds by 2019 as part of efforts to further strengthen the asset management ecosystem.

The new structure, called Singapore Variable Capital Company, or S-VACC, will allow asset managers to achieve greater synergies by co-locating their management and domiciliation activities, central bank Managing Director Ravi Menon said at an investment forum June 5.

The MAS also simplified rules to facilitate the activities of private equity and venture capital managers.

Meanwhile, the central bank said it is developing new initiatives to facilitate the growth of Asian infrastructure financing in Singapore. The first is an infrastructure debt distribution facility to help securitize a pool of brownfield regional project loans from banks into a collateralized loan obligation that investors can invest in.

As part of the second initiative, it will create investment benchmarks to make infrastructure an investable asset class.