About Turning Leaf Asset Management Pte Ltd
Turning Leaf Asset Management Pte Ltd (“TLAM” or the “Company”) is a Singapore based Registered Fund Management Company (RFMC). The company has been incorporated in 2018 to set up and manage a multi-asset alternative funds under the regulatory supervision of the Monetary Authority of Singapore (“MAS”). The investment objective is to invest in multiple asset classes globally that have the ability to generate high returns and consistent capital appreciation by active management. TLAM ensures all compliance and regulatory support, enagegement of service providers like Fund Administrators, Corporate secretary, Audit and Tax Advisors, Lawyers and Banking.
Variable Capital Company (VCC) : Highlights
The Variable Capital Company (VCC) is a new corporate structure for investment funds constituted under the Variable Capital Companies Act which took effect on the legislation is administered by ACRA and the AML/CFT obligations are under the purview of the Monetary Authority of Singapore (MAS).
Customisable Investment Structure: VCC can be standalone Single fund or Umbrella VCC with multiple sub-funds which can have Single Shareholder or Multiple Shareholders with no restriction on holding Single or Multi Asset in various Asset classes using differentiated strategies for each sub-funds in Open Ended or Close Ended options without any restrictions to cross invest or dividend distribution which can be structured as a Feeder or a Master Fund.
Enhanced safeguard by Legislation: The VCC act provides segregation of assets and liabilities in each sub-funds to mitigate cross cell contamination and prohibits use of assets from another sub-funds or VCC to discharge liabilities. Sub-funds can be wound-up separately like a separate legal entity and ensures RING FENCING of each sub-funds Assets and Liabilities.
Privacy & Discretion: The act specifically prohibits public access to Register of Shareholders, Financial Statements and the Constitution.
Tax Efficiency & Transparency: VCC is treated as a Single Tax Entity having access to Tax Treaties with more than 80 Jurisdictions and various tax incentive schemes for Singapore funds such as the Enhanced-Tier Fund and Singapore Resident Fund Schemes will be extended to VCCs.
Governance, Compliance & Controls: Highest Regulatory and Governance standards set by MAS & ACRA with an Independent Compliance framework designed with protection of Investor Interest at its core. Optionality to constitute separate “Investment Committee” for additional oversight to enhance control.
Plug & Play Platform at Tier 1 Financial Centre: Ability to offer a platform for sponsors/asset owners/Investors/ to easily securitise and unlock value , monetise or fund raise under a cost effective vehicle by having a single administrator, fund manager, custodian, auditor and compliance officer managing the whole structure. Such economies of scale and cross subsidisation of cost presents the opportunity to have cost effective solution internationally acclaimed leading Financial Centre
Why Singapore?
- Active and well regulated authority, Monetary Authority of Singapore hold Asia’s Golden standards
- Adherence to international accounting standards
- Meticulous Corporate Governance frameworks
- Singapore has the credit for the most extensive Free Trade Agreements in Asia
- Signed 35 Investment Guarantee Agreements which guarantee investment protection for Singapore based companies in other countries
- Low effective tax rate and attractive government incentives
- OECD & Full FATF member and not at all a tax haven
- Robust Intellectual Property regime, one of the best in Asia and 7th in the world
- A perfect destination with easy access to ASEAN, Oceania, Indo Pacific and China
- Transportation Hub
- Multi cultural workforce with high quality education and productivity
- An education system offering continuing education programs with scholarships programs
- Capital Intensive Activities and a globalized workforce