Press release
Valverde Investment Partners Appoints Northern Trust to Provide Asset Servicing Solutions for its VCC Fund
SINGAPORE--(BUSINESS WIRE)-- Northern Trust (Nasdaq: NTRS) today announced that it has been appointed by Valverde Investment Partners Pte Ltd. (Valverde) to
About this update from Northern Trust Corporation
[{"type":"text","content":" SINGAPORE--(BUSINESS WIRE)--\nNorthern Trust (Nasdaq: NTRS) today announced that it has been appointed by Valverde Investment Partners Pte Ltd. (Valverde) to provide custody, fund administration, foreign exchange and cash management services for its newly formed Variable Capital Company (VCC) fund, along with its sub-fund, ASEAN+ Fund (VAPF).\n\n\nValverde is a newly established, Singapore-based, independent investment management firm specializing in ASEAN equities. The VCC launch and its sub-fund, Valverde ASEAN+ Fund (VAPF), represent Valverde’s goal of achieving long-term absolute returns, primarily composed of public traded equities within ASEAN companies.\n\n\n“We have seen VCC funds continue to grow in popularity since the scheme was first launched in 2020, and we are delighted to work with Valverde as they embark on their first VCC,” said Yen Leng Ong, Country Executive, Southeast Asia, Northern Trust. “This appointment helps underline our position as a premier provider of custody and fund services to asset managers in Singapore.”\n\n\n“Launching a VCC fund comes with inherent complexities, and we were seeking a partner that could help us manage these from both a custodial and fund administration perspective,” said John Foo, Founder and CEO at Valverde. “We were especially impressed by Northern Trust’s global expertise and focus on clients such as ourselves, which aligns with our dedication to providing top-tier investment solutions and client service to our investors.”\n\n\nNorthern Trust’s Global Fund Services business provides services including fund administration, depositary, global custody, investment operations outsourcing and data solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes. In Singapore, it includes servicing of VCC fund structures launched as standalone Singapore funds or umbrella structures with Singapore domiciled sub-funds.\n\n\nNorthern Trust has offices across Asia Pacific in Beijing, Bengaluru, Hong Kong, Kuala Lumpur, Manila, Melbourne, Pune, Singapore, Sydney and Tokyo. It has strong relationships with some of the region’s largest asset managers, central banks, sovereign wealth funds, government agencies and corporations.\n\n\nAbout Valverde Investment Partners\n\n\nValverde is a partner-owned investment manageme...