Valuecap to exit asset management biz

PETALING JAYA: Valuecap Sdn Bhd announced that it is seeking to exit the third-party asset management business.

In a statement today, the group said it is in the process of exploring various strategic options with regard to its two wholly-owned licensed asset management subsidiaries, VCAP Asset Managers Sdn Bhd and i-VCAP Management Sdn Bhd including divesting or winding up the companies.

“Both VCAP Asset and i-VCAP currently manage wholesale funds, while i-VCAP also manages exchange traded funds (ETFs).

“Both companies are proposing to terminate their respective wholesale funds, while i-VCAP is exploring various options in relation to the management of the ETFs, including the possibility of transferring the ETFs to another licensed fund management company,” said Valuecap.

In the interim, VCAP Asset and i-VCAP will keep clients and unitholders informed of any developments on this matter as and when updates are available.

The group said it will also work closely with the relevant authorities during this period to ensure the exercise follows due process and complies with all regulatory requirements.

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