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Maples Group Supports Faros VCC

25 Apr 2022

The Maples Group is pleased to announce that it has been selected to support the Faros VCC, a diversified long / short equity strategy utilising an umbrella Variable Capital Company ("VCC") structure with three sub-funds.  The Faros investment approach is driven by state-of-the-art dynamic artificial intelligence and machine-learning techniques for stock selection and aims to generate attractive risk-adjusted returns through a market neutral approach to portfolio construction.

Faros has been an early adopter of the VCC structure as a collective investment vehicle providing access to the Faros strategies, which closely follow the approach operated in a series of exclusive, separately managed, individual account structures for high-profile institutional investors.  The asset management ecosystem in Singapore is critically dependent on the availability of international-class service providers on the ground in the city.  A particular driving factor for the partnership with Maples Group is its long-established reputation in the alternatives industry, which the Faros team anticipates will ease the adoption of the VCC structure by investors wishing to access our investment solutions through a pooled fund structure.

The Maples Group will provide end-to-end fund administration services, AEOI support, KYC / AML compliance, investor services and fund accounting and reporting.  Faros selected the Maples Group as its partner as a result of its consultative approach, sophisticated infrastructure, and team experienced in both umbrella and standalone VCC structures.

The Faros strategies can be accessed by accredited investors in a series of portfolios managed by Privium Fund Management (Singapore) Pte. Ltd.

Since its introduction in 2020, the VCC framework has gained considerable traction in the market and has supported Singapore's capability and competitiveness as a hub for asset management in the Asia-Pacific region.  Regulators in Singapore have demonstrated their commitment to the VCC through consultation with market participants to enhance the regime and as confidence builds, broaden participation. The Monetary Authority of Singapore ("MAS") is exploring options for amending the VCC framework and expanding the scope of asset managers permitted to use this structure, while maintaining the necessary regulatory safeguards. 

"We have extensive experience assisting both local and global managers and their investors. Our comprehensive suite of services ensures our clients can be effectively supported as market dynamics and their individual needs evolve," said Eastern Fong, Regional Head of Fund Services - Asia for the Maples Group. "We are proud to be on the leading edge of innovation as it relates to fund structures in the Asian market and look forward to our continued partnership with the Faros VCC in this respect."

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