Malaysia’s Global Compact & Capital Markets has launched the Global Compact Network Malaysia Centre of Excellence to support the strategic development of the sustainability agenda for the private sector of Malaysia while asset manager Mindful Wealth has completed the VCC Pilot Programme with the Monetary Authority of Singapore.
Malaysia’s Global Compact, Capital Markets launch partnership
Global Compact Network Malaysia, the local network of the United Nations Global Compact, and Capital Markets Malaysia have jointly launched the Global Compact Network Malaysia Centre of Excellence (COE) to drive the sustainability agenda and to accelerate the performance of corporate Malaysia.
Capital Markets Malaysia, an affiliate of the Securities Commission Malaysia (SC), will provide strategic support and seed funding for the COE as part of its initiative to position Malaysia as a regional centre for sustainable and responsible investment.
According to SC Chairman Datuk Syed Zaid Albar, the partnership between Global Compact Network Malaysia and Capital Markets Malaysia is a step forward to accelerate private sector performance in incorporating globally recognized sustainability standards.
SG’s Mindful Wealth completes VCC Pilot Programme
Mindful Wealth, an asset management company with around $600 million under management, has completed the VCC Pilot Programme with the Monetary Authority of Singapore (MAS) and re-domiciled one of its funds Avenida CLO Equity Fund from the Bahamas to Singapore, per its announcement.
Mindful Wealth conducts wealth management services and fund management activities with licenses in Singapore and Dubai.
Variable Capital Companies (VCC) framework introduced by MAS is to provide a new corporate structure for investment funds that seek to facilitate the co-location of fund managers’ substantive fund management and domiciliation activities in Singapore.
Mindful Wealth’s flagship fund Avenida CLO Equity Fund was launched in March 2016 and is managed by Massimo Paschetto Alberto De Micheli and Stefano Paschetto. It has around $80 million under management and is one of the few funds globally that focuses on the equity tranche of CLOs.