Fintech solutions provider iFAST HK can now act as a custodian for private Open-ended Fund Companies (OFCs). The OFC regime, introduced in 2018 and refined over the years, offers fund managers an alternative corporate fund structure with flexible capital arrangements. Private OFCs, in particular, benefit from simplified regulations, enabling investments in diverse asset classes such as private equity and traditional investments, catering to fund managers’ needs for flexibility. iFAST’s move to provide custodian services for private OFCs aligns with its broader strategy of expanding wealth management and fund administration offerings. This marks a milestone in iFAST’s commitment to providing comprehensive…
Author: iFAST Financial HK
Author
iFAST Financial HK
iFAST Financial (HK) Limited (iFAST Hong Kong) is a subsidiary of iFAST Corporation Ltd., which is listed on Singapore’s SGX-ST Mainboard (Stock code: AIY). They are a global Fintech wealth management platform providing a comprehensive range of investment products and services to financial advisory firms, financial institutions, banks, internet companies, multinational companies, as well as retail and high-net-worth investors around the world.
iFAST has launched a new feature called iFAST Global View that expands client access to digital banking and wealth management worldwide. Clients with an iFAST account, whether through iFAST Global Bank in the UK or wealth management accounts in Hong Kong or Singapore, can now easily connect their accounts and transfer funds within the iFAST ecosystem. This means instant, fee-free transfers 24/7 within the iFAST Global network, supporting multiple currencies including GBP, USD, EUR, HKD, SGD, and CNY. Clients can also view their investment and banking balances in real-time and utilise enhanced reporting tools to generate detailed reports to help…