Date
Thursday, 17 July 2025
Time
9AM to 5PM
Location
TBA
Cost
$550.00 nett
Includes lunch, tea breaks, materials and e-certificate
Early Bird Discounts:
• 20% off before 17 June 2025
• 10% off before 1 July 2025
*Pricing stated is before discount
Payment Methods
Bank transfer, PayNow, cheque or cash
This intensive and highly practical workshop offers a comprehensive deep dive into the Variable Capital Company (VCC) framework, equipping participants with the technical knowledge and real-world applications needed to navigate the accounting complexities of investment funds. Through detailed case studies and expert-led discussions, attendees will explore the structural nuances of open-ended, closed-ended, and hybrid fund vehicles, along with the accounting implications across diverse asset classes. The session bridges theory and practice, covering critical standards such as IFRS 9, IFRS 13, and IPEV guidelines, while addressing operational challenges in valuation, consolidation, and financial reporting.
1. VCC Fundamentals & Fund Structures
• Core features and regulatory framework of VCCs
• Comparative analysis of fund vehicles: - Open-ended vs. closed-ended structures - Retail, alternative, master-feeder and umbrella funds
• Selecting optimal structures for different investment strategies
2. Financial Instruments & IFRS Application
• Debt vs. equity classification under IFRS 9
• Special considerations for fund accounting: - Implications for financial reporting
• Applying IFRS 9 impairment models
3. Consolidation & Fair Value Measurement
• When to consolidate fund vehicles - exceptions and exemptions
• IFRS 13 vs. IPEV valuation standards: Key divergences
• Valuing illiquid assets using multiple methodologies
4. Operational Execution & Compliance
• Functional vs. reporting currency challenges
• RAP 7 requirements for retail funds
• NAV calculation complexities
By the end of this session, you will:
✔ Demystify the VCC model, from fund formation to liquidation, and its accounting ramifications.
✔ Master IFRS application for financial instruments, consolidation, and fair value measurement in fund contexts.
✔ Develop valuation expertise, learning to apply methodologies aligned with accounting standards and industry best practices.
✔ Gain operational clarity on currency classification, regulatory reporting, and investor disclosures.
✔ Solve practical challenges through case studies that simulate fund accounting dilemmas.
This program is essential for professionals involved in the financial, legal, or operational management of investment funds, including:
• Accountants & Auditors – Handling fund financial statements or audits.
• Compliance & Legal Teams – Advising on VCC structuring or regulatory reporting.
• Fund Administrators & Bookkeepers – Managing day-to-day accounting for fund vehicles.
• Investment & Tax Professionals – Seeking clarity on fund-level accounting impacts.
• Corporate Secretaries – Overseeing governance and compliance for VCC entities.
Date
Thursday, 17 July 2025
Time
9AM to 5PM
Location
TBA
Cost
$550.00 nett
Includes lunch, tea breaks, materials and e-certificate
Early Bird Discounts:
• 20% off before 17 June 2025
• 10% off before 1 July 2025
*Pricing stated is before discount
Payment Methods
Bank transfer, PayNow, cheque or cash
Expert Speaker
Armin Choksey is a seasoned asset management professional with over 24 years of experience in fund audits, financial reporting, and regulatory frameworks across multiple jurisdictions, including the US, Hong Kong, India, Canada, and Luxembourg. His expertise spans US GAAP, IFRS, and other international accounting standards, making him a trusted advisor on cross-border fund compliance and structuring. He has played a pivotal role in shaping Singapore's fund ecosystem, serving as the project leader for the introduction of the Singapore Variable Capital Company (VCC) and authoring the influential white paper that led to MAS's feasibility study on Openended Investment Companies (OEICs).
Beyond his regulatory contributions, Armin is a respected educator, having lectured at the National University of Singapore (NUS CAMRI), the Wealth Management Institute (WMI), and NTU's Masters in Asset and Wealth Management program. His blend of technical expertise, policy influence, and academic engagement positions him as a thought leader in fund governance, wealth management, and financial innovation.
Whether you're new to VCCs or looking to refine your expertise, this session will provide practical, actionable knowledge to elevate your professional practice.