Singapore launched a new fund structure in January 2020, the Variable Capital Company (VCC), that is picking up interest from the global hedge fund community. This is not just part of the competitive dynamic between Singapore, Hong Kong and Tokyo to be the premier Asian global financial center – it’s also a global move targeted at the Cayman Islands, Luxembourg and Dublin. Securities finance, collateral and derivatives professionals should be aware of the tax treatment implications of the VCC plan.
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