Valverde Investment Partners Appoints Northern Trust to Provide Asset Servicing Solutions for its VCC Fund



SINGAPORE, 2 July 2024 – Northern Trust (Nasdaq: NTRS) today announced that it 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).

Valverde is a newly established, Singapore-based, independent investment management firm specializing in ASEAN equities. The VCC launch and its sub-fund, Valverde ASEAN+ Fund (VAPF), represent Valverde’s goal of achieving long-term absolute returns, primarily composed of public traded equities within ASEAN companies.

“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,” said Yen Leng Ong, Country Executive, Southeast Asia, Northern Trust. “This appointment helps underline our position as a premier provider of custody and fund services to asset managers in Singapore.”

“Launching a VCC fund comes with inherent complexities, and we were seeking a partner that could help us manage these from both a custodial and fund administration perspective,” said John Foo, Founder and CEO at Valverde. “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.”

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. It has strong relationships with some of the region’s largest asset managers, central banks, sovereign wealth funds, government agencies and corporations.

About Valverde Investment Partners

Valverde is a partner-owned investment management firm specializing in ASEAN equities. Led by a seasoned and dedicated investment team, Valverde is committed to delivering optimal execution outcomes for investors across the 6 ASEAN markets, supported by in-house trading capabilities. As of 1 July 2024, our team comprises of 11 members with coverage spanning Singapore, Ho Chi Minh, Bangkok, Kuala Lumpur and Jakarta.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2024, Northern Trust had assets under custody/administration of US$16.5 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on Follow us on X (formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at



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Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

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