Singapore's MAS Awards RF Fund Management Registered Fund Management Company Status

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SINGAPORE, March 3, 2020 /PRNewswire=KYODO JBN/ --

Following approval of MAS status, RF Fund Management's Private Equity Fund

announces new support for the digital economy spurring global investment innovation

Singapore's RF Fund Management, a subsidiary of RF International Holdings, has unveiled

that the Monetary Authority of Singapore (MAS) has approved its application for

the commencement of business as a Registered Fund Management Company on

3rd February 2020.

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The announcement of the award paves the way for RF Fund Management to pursue

their inaugural US$50 million Private Equity Fund. With a strong focus on the

Digital Economy, the fund will support the enhancement of Singapore's value as

an international fund management centre under the recently launched MAS

Variable Capital Companies (VCC) framework.

"Our vision is creating sustainable, cross-border wealth and opportunity for

all. Through our Private Equity Fund, we shall deploy our innovative modelling

strategy, geared towards high capital appreciation, to identify, curate, and

invest in select SMEs and startups. Helping them and our investors realise

their full potential in line with the Singapore Budget 2020," said Eric Neo Say

Wei, Group Chief Executive of RF International Holdings and Non-Executive

Director of RF Fund Management.

The Singapore Ministry of Finance [https://www.singaporebudget.gov.sg/budget_2020/budget-speech/b-growing-our-economy-creating-opportunities-for-our-people#s1 ] (MoF)

has set aside S$8.3 billion over the next three years to enable transformation and growth.

In addition, another S$300 million has been set aside to support startups in the deep-tech

sector alone, through the Government scheme, Startup SG Equity.

"What we see from the MoF is that the focus is the future. In 'Redefining the

Future' with our aspiration of adopting Blockchain technologies within our fund

management operations such as Distributed Ledger Technology and Smart

Contracts, we aim to set a benchmark for the industry in Singapore," said Eric.

Singapore is home to around 3,800 technology startups [https://www.opengovasia.com/technology-innovation-enterprise-dominates-economic-growth-strategy-in-budget-2020/ ].

"However, many technology startups run into difficulty when it comes to sourcing

strategic investors. We need to get them to that next stage of growth, but it needs

to be in a trusted, flexible and sustainable way," added Eric.

Leading by example, RF Fund Management's parent company, RF International Holdings,

has supported Singapore's digital startup ecosystem, beyond just money and capital.

An early investor in iSTOX established and operated by ICHX Tech regulated by MAS,

RF International Holdings strategically invested US$3 million on 18th April 2019 and was

the third ICHX's external shareholder after Singapore Exchange and Heliconia Capital,

a unit of Temasek.

"We are involved in each stage of growth. From new acquisitions and market

penetration, whether it be China, Japan, Singapore or other ASEAN nations, to

advocacy and higher price realization, our unique ecosystem enables select SMEs

and startups to get their ideas off the ground through investments, mentorship,

and leveraging the digital economy. We invite all like-minded investors to join

us in fuelling the growth of these select SMEs and startups," Eric concluded.

About RF Fund Management:

RF Fund Management, a subsidiary of RF International Holdings, is a Monetary

Authority of Singapore Registered Fund Management Company with an institutional

conscience, and a duty towards present and future generations. Our ownership

ethos puts the institution above the individual, emphasises sustainability, and

aligns employee and investors difference to the financial world or the

community interests over economic cycles.

With an investment leadership team with over 60 years of combined industry

experience, we hope to 'Redefine the Future' of the Digital Economy in the

Asset Management industry.

RF International Holdings is a technologically driven global integrated digital

financial group headquartered in Singapore. For more information,

visit https://www.rf.com.sg/ or https://www.linkedin.com/company/rf-fund-management/

SOURCE RF Fund Management

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