DBS MFO, which is established as an umbrella VCC with multiple underlying sub-funds, allows UHNW families to access a full suite of investment services including investment management and custody solutions within one platform.
DBS Private Bank (SGX:D05
) has launched the DBS Multi Family Office Foundry VCC (DBS MFO), the world’s first bank-backed multi family office that leverages on Singapore’s variable capital company (VCC) structure.
The service provides an alternative option for UHNW families to manage their wealth here without having to establish their own single family office (SFO), which may be more expensive in general. In addition, the platform offers such families cost savings through shared resources and expenses across multiple sub-funds.
