MAS reports over 260 VCCs and launches the Singapore Funds Industry Group

What changed?

On 27 April 2021, MAS announced the Singapore Funds Industry Group (SFIG), a partnership between MAS and the private sector to strengthen the fund ecosystem. In the same release, MAS confirmed that more than 260 VCCs had been set up since the framework launched in January 2020.

Why it matters for fund managers

Roughly fifteen months in, this was the first major official adoption milestone — a signal that the VCC had moved from pilot novelty to a mainstream domiciliation option. The SFIG's workstreams (including fund domiciliation and VCC enhancements) became a standing channel for industry input into the regime's evolution.