What professionals are saying
“AIMA applauds the SAL in proactively leading this ground-breaking bottom-up initiative. It enabled the industry to come together in a meaningful way to collaborate on the model constitutions and companion guidance, which we believe will aid in the promotion and adoption of the VCC.”
- Lee Kher Sheng, Alternative Investment Management Association
"Singapore Fund Administrators Association (SFAA) was very pleased and grateful to be part of the review group for the draft constitution of the VCC. We are excited with the upcoming launch and look forward to promoting the VCC among our members."
- Martin O'Regan and Ashmita Chhabra, Singapore Fund Administrators Association
“Being a lawyer before specialising in financial services compliance, I’m delighted to use my legal training and industry experience in commenting on a legal template that adds to Singapore's fund industry. It’s been a pleasure to volunteer with SAL, legal brethren and practitioners in the funds sector.”
- Koh Sin Yee, Duff & Phelps
"The VCC Model Constitution serves as a good starting point for fund managers preparing to launch VCC Funds. It can also help to educate LPs who are still unfamiliar with this new structure."
- Doris Yee, Singapore Venture Capital & Private Equity Association
“The implementation of the VCC framework is an important development to strengthen Singapore’s fund management regime. We are foully supportive of the SAL’s initiative to develop model constitutions and guidelines for the VCC structure. This will aid both market participants and professionals to fully leverage on the features of the new vehicle and provide a reference point as the VCC regime further develops with new and novel transactions.”
- Jerry Koh, Allen & Gledhill
"The model constitution will be a good starting point in fund documentation, as the investment funds industry prepares itself for the launch of the Variable Capital Company (VCC) structure. This project by the Singapore Academy of Law has brought industry stakeholders together, to provide a base document that takes into account certain practical aspects that affect investment funds, besides legal matters. I am happy to see the enthusiasm in the industry for the VCC."
- Amit Dhume, CNP Law
"I would like to express my appreciation to SAL and to the various eminent funds law practitioners who drafted the model constitutions. Having them will expedite and drive adoption of the VCC, which is a valuable new fund option for managers and sponsors in Asia, amidst the current global tax trend of 'on-shorisation' in favour of jurisdictions supporting substantial business activities. I look forward to the legislation's commencement soon!"
- Yeoh Lian Chuan, Sabara Law
“Shook Lin & Bok is delighted that the VCC will finally go live, it will be a game-changer especially for the private investment fund space. With the collaborative efforts of the funds industry, MAS, ACRA & SAL , the benefits of a well-developed regime and a model constitution bring enormous benefits and substantial savings to the fund managers and their clients.”
- Tan Woon Hum, Shook Lin & Bok
"The shared journey of developing the model constitutions for the VCC provided me with a unique and invaluable insight into the practical implementation process for a product that is custom built to thrive as a fund investment vehicle. Furthermore, I enjoyed the camaraderie involved in working alongside other like-minded members and stakeholders in the fund management community, who candidly and unreservedly shared their experience and views on how best to make this product a success."
- Colin Ong, Eng & Co