Vistra Fund Services (VFS) has added a Cayman Islands-based umbrella fund structure to its platform that enables clients to establish their own segregated portfolio or sub-funds and build fund management expertise located in Hong Kong, Cayman, The Netherlands and the UK.
Users of the Privium Capital Fund structure will be offered administration and related support provided by Vistra from its Hong Kong, Luxembourg or Jersey offices. Fund auditing will be covered by PwC Hong Kong, Cayman Islands and The Netherlands, with legal support provided by Maples and Calder from the Cayman Islands. Banking and custodian arrangements can be specified by clients and are not limited to any one jurisdiction.
Vistra said the streamlined approach through Privium allows for rapid fund establishment, with Privium providing support in the areas of marketing, set up and design, compliance and approval, physical office and risk management models.
Commenting on the launch, Charles Kwun, Managing Director of Vistra Fund Services Asia said, “The new Privium Capital Fund adds to our range of services and delivers a higher level of flexibility. It allows clients to have fund and management separately domiciled in a range of locations of their choice, and offers tremendous savings in initial set-up and ongoing costs as well as a short implementation time, which we think will be of particular interest to the Far East and Asian markets.”
(JDC)