Noviscient announces its collaboration with Saxo Markets under new VCC framework
Noviscient, a Singapore-based AI open-platform fund manager, is one of the 20 foundation firms under the new Variable Capital Company (VCC) framework introduced by the Monetary Authority of Singapore (MAS) yesterday. The fund will leverage on the technology of Saxo Markets, the leading Fintech specialist focused on multi-asset trading and investment. The flexibility of the VCC framework enables Noviscient to house a suite of funds that deliver alpha or excess returns for investors.
The new VCC fund structure is designed to enhance Singapore’s competitiveness and positioning as a fund management hub globally, and Noviscient has chosen to trade through Saxo Markets. In the lead up to the official launch of the VCC framework in Singapore, Saxo and Noviscient collaborated closely to put in place their respective structures and processes to ensure system readiness at the time of the MAS launch.
“We are really excited to be able to be working with Saxo. Noviscient focuses on fund products comprising a dynamic portfolio of systematic trading strategies sourced from market-neutral hedge funds and trading groups from around the world. By tapping into Saxo’s technology, we are ready from the get-go to onboard funds and family offices that want to use that structure. This is incredible as it opens up many opportunities for us to access and service hedge funds and family offices in Singapore,” Scott Treloar, Chairman and Chief Investment Officer, Noviscient, said.
Commenting on the launch of the VCC framework, Adam Reynolds, CEO of Saxo Markets Asia Pacific, said: “Saxo welcomes the introduction of the VCC structure into the market as it enhances Singapore’s position as a global fund management centre. With the VCC, we now have more offerings for fund managers, strengthening our position as a facilitator in the hedge fund and family office ecosystem.”
“Saxo is honoured to work with Noviscient, one of the foundation firms featured in the VCC launch. We already have the right set up in place and we are one of the first service providers who can onboard these VCC funds quickly and efficiently through an accelerated onboarding programme. This positions us strongly to help fund managers hit the ground running from day one,” Reynolds added.
The market opportunity that comes with the roll out of the VCC structure in Singapore is significant, as Singapore has seen exceptional growth in the asset management sector, with growth in total Assets Under Management (AUM) of S$3.4 trillion in 2018, continuing a strong track record of 11 years of growth year-on-year. In addition, given that the world’s biggest hedge fund returns are found in Singapore, the VCC framework is expected to further boost Singapore’s position as the leading pan-Asian fund management and domiciliation hub.
For more information and to get in touch about Saxo’s VCC services, please visit www.vcc.saxo.
Saxo Markets is a licensed subsidiary of Saxo Bank A/S, a leading Fintech specialist and global multi-asset facilitator of capital markets products and services. Saxo enables private clients to trade more than 35,000 instruments from one single margin account. Additionally, Saxo provides institutional clients such as banks and fintechs with Open Banking solutions from multi-asset execution, prime brokerage services to trading technology. Founded in 1992, Saxo has embraced Open Banking from the beginning, and is focused on helping clients and partners through win-win partnerships and product innovation. Since launching its first online trading platform in 1998, Saxo today wants to empower everyone to navigate their financial future by opening up access to trading and investment. Headquartered in Copenhagen, Saxo Group’s AUM totals more than 45 billion euros, and employs more than 2000 people in financial centres around the world including London, Singapore, Amsterdam, Shanghai, Hong Kong, Paris, Zurich, Dubai and Tokyo. For more information, please visit www.home.saxo/en-sg/.
Noviscient is a multi-strategy, quantitative, investment management platform that delivers performance with strong alignment and high transparency. Noviscient is using a next-generation technology platform to unlock the excess returns available from boutique hedge fund managers from all around the world. The platform receives the trading strategies via API and then allocates capital to these strategies in real-time to construct customised portfolios. This next-generation approach offers significant benefits over current practices. It strips out costs and counterparty risk as investor capital never leaves the platform. It offers real-time decision-making providing significant gains in risk control and performance. And it provides liquidity and full transparency put investors back in control of their capital. Noviscient is a registered fund management company (RFMC) under the Monetary Authority of Singapore. https://www.noviscient.com/