KUALA LUMPUR, Northern Trust has been appointed by Valverde Investment Partners Pte Ltd (Valverde) to provide custody, fund administration, foreign exchange and cash management services for its newly formed Variable Capital Company (VCC) fund, along with its sub-fund, ASEAN+ Fund (VAPF). Northern Trust Country Executive, Southeast Asia, Yen Leng Ong said this appointment helps underline its position as a premier provider of custody and fund services to asset managers in Singapore. 'We have seen VCC funds continue to grow in popularity since the scheme was first launched in 2020, and we are delighted to work with Valverde as they embark on their first VCC,' he said in a statement. Meanwhile, Valverde Founder and Chief Executive Officer, John Foo said: 'We were especially impressed by Northern Trust's global expertise and focus on clients such as ourselves, which aligns with our dedication to providing top-tier investment solutions and client service to our investors.' Singapore-based Valverde is a newly e stablished, independent investment management firm specialising in ASEAN equities. The VCC launch and its sub-fund, VAPF, represent its goal of achieving long-term absolute returns, primarily composed of public traded equities within ASEAN companies. Northern Trust's Global Fund Services business provides services including fund administration, depositary, global custody, investment operations outsourcing and data solutions to global investment managers, supporting a range of complex investment strategies across the full spectrum of asset classes. In Singapore, it includes servicing of VCC fund structures launched as standalone Singapore funds or umbrella structures with Singapore domiciled sub-funds. Northern Trust has offices across Asia Pacific in Beijing, Bengaluru, Hong Kong, Kuala Lumpur, Manila, Melbourne, Pune, Singapore, Sydney and Tokyo, and has strong relationships with some of the region's largest asset managers, central banks, sovereign wealth funds, government agencies and corporations. So urce: BERNAMA News Agency