Can Singapore become the Cayman of Asia for funds?

The numbers tell the story. Singapore has, since the establishment of the variable capital company (VCC) fund structure, reported a total of 969 VCCs — both umbrella and standalone — representing 1,995 sub-funds being incorporated or re-domiciled in Singapore. Yet challenges remain as Asian fund managers look to integrate domestic structures with those in other jurisdictions. Ensuring regulatory compliance in respective jurisdictions, the appropriate level of substance to ben…