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First ETF under VCC structure launched

The Edge Singapore
The Edge Singapore 9/17/2020 05:41 PM GMT+08  • 3 min read
First ETF under VCC structure launched
CSOP Asset Management launches Chinese bond ETF as a sub-fund under a VCC structure
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CSOP Asset Management, an offshore asset manager set up by a regulated asset management company in China launched the CSOP Investment VCC - ICBC CSOP FTSE Chinese Government Bond Index ETF on Sept 9, 2020. The ETF offers investors access to RMB-denominated fixed rate book entry government bonds issued in mainland China in affordable units. The ETF aims to replicate the performance of the FTSE China Government Bond Index.

A VCC or variable capital company is for investment funds that can be used across a wide range of fund strategies, and as an open-ended or a closed-end fund. A VCC may be set up as a single fund structure or an umbrella fund that consists of, or is to consist of, two or more sub-funds (i.e. an umbrella VCC).

The VCC can also be used for all types of collective investment schemes in Singapore, be it closed-end funds (typically venture capital funds and private equity funds) or open-ended funds (typically mutual funds and hedge funds), and a VCC can be structured either as a single standalone fund or an umbrella fund.

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