Independent Wealth

Envysion sets up Variable Capital Company

Envysion Wealth Management, an independent, full-service wealth manager, has been reported to have stared a Variable Capital Company in Singapore.

The Variable Capital Company (VCC) has been reported to be named Envysion Global Investments, and was established following its approval approximately a fortnight ago (from the publication date of 10th April, 2020), according to a report by Citywire Asia.

Veronica Shim, Founder and Chief Executive Officer of Envysion Wealth Management (Envysion) has reportedly said “We are currently working towards launching multiple investment strategies. We will be able to announce more details at a later date, as soon as we complete the requisite regulatory requirements as well.”

The new VCC structure will allegedly represent an umbrella fund further down the road, under which sub-funds can share service providers and custodians, but are ultimately effectively traded as individual investment funds.

Envysion Wealth Management was launched by Shim in March 2020. Prior to launching the firm, Shim was Managing Director and Head of Southeast Asia for EFG Bank, according to her LinkedIn. In addition, she held roles with UBS and Citi Private Banking, the latter of whom she began her career with in 2004.

Prior to the establishment of the VCC, Envysion services its clients by either launching investment funds or having segregated mandates, according to Shim. With the new VCC structure, the process of serving clients will become simplified, as the structure will allow the launching of a number of fund strategies under a single umbrella.

“A Singapore-domiciled fund also has the benefit of co-location. This allows us to easily demonstrate economic substance, achieve better economies of scale in terms of operating costs, and enjoy the advantages of being in the same time zone,” said Shim.