Singapore, July 2, 2024–(BUSINESS WIRE)–Northern 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 established Variable Capital Company (VCC) fund and its sub-fund, the ASEAN+ Fund (VAPF).
Valverde is a newly established independent investment management firm based in Singapore specialising in ASEAN equities. The launch of VCC and its sub-fund, Valverde ASEAN+ Fund (VAPF), represents Valverde’s ambition to achieve long-term absolute return comprised primarily of publicly traded equities from ASEAN companies.
“VCC funds have continued to grow in popularity since the regime was first introduced in 2020, and we are pleased to be working with Valverde as they embark on their first VCC,” said Yen Leng Ong, Northern Trust’s country executive for Southeast Asia. “This appointment underlines our position as a leading provider of custody and fund services to asset managers in Singapore.”
“Launching VCC funds comes with inherent complexities, which is why we were looking for a partner that could help us manage these from both a custody and fund administration standpoint,” said John Foo, founder and CEO of Valverde. “We were particularly impressed with Northern Trust’s global expertise and focus on clients like us, which aligns with our dedication to providing investors with top-class investment solutions and client service.”
Northern Trust’s Global Fund Services business provides services such as fund administration, depositary, global custody, investment operations outsourcing and data solutions to global investment managers supporting a range of complex investment strategies across all asset classes. In Singapore, it also services VCC fund structures launched as standalone Singapore funds or umbrella structures with Singapore-based sub-funds.
Northern Trust has offices across Asia Pacific, including Beijing, Bangalore, Hong Kong, Kuala Lumpur, Manila, Melbourne, Pune, Singapore, Sydney and Tokyo, and enjoys strong relationships with the region’s largest asset managers, central banks, sovereign wealth funds, government agencies and corporations.
About Valverde Investment Partners
Valverde is a partner-owned investment management firm focused on ASEAN equities. Led by an experienced and committed investment team, supported by in-house trading capabilities, Valverde is committed to delivering optimal execution outcomes for investors across six ASEAN markets. As of 1 July 2024, our team consists of 11 members covering Singapore, Ho Chi Minh City, Bangkok, Kuala Lumpur and Jakarta.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, high net worth individuals and individuals. Founded in Chicago in 1889, Northern Trust operates globally with offices in 24 states and Washington, DC, and 22 locations in Canada, Europe, the Middle East and Asia Pacific. As of March 31, 2024, Northern Trust had US$16.5 trillion in assets under custody and administration and US$1.5 trillion in assets under management. For more than 130 years, Northern Trust has earned a reputation as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com. Follow us on Twitter. X (formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, headquartered at 50 South La Salle Street, Chicago, Illinois 60603 USA, incorporated in the United States with limited liability. Global legal and regulatory information is available at https://www.northerntrust.com/terms-and-conditions.
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contact address
Europe, Middle East, Africa, Asia Pacific:
Camilla Green
+44 (0) 20 7982 2176
camillagreen@ntrs.com
Simon Ansell
+ 44 (0) 20 7982 1016
sa777@ntrs.com
United States and Canada:
John O’Connell
+1 312 444 2388
johnoconnell@ntrs.com
http://www.northerntrust.com
