About This Fund
First Plus Global Opportunity Fund VCC is an umbrella Variable Capital Company (VCC) domiciled in Singapore and managed by First Plus Asset Management Pte. Ltd. (UEN 202006951M), a Capital Markets Services (CMS) Licensed Fund Management Company regulated by the Monetary Authority of Singapore. The VCC was established in 2020 and holds two active sub-funds: the Asia Opportunity Fund (active equity) and the Asia Special Situations Fund (structured credit), with a third private equity sub-fund in planning as of 2021. BNP Paribas Securities Services provides global custody, hedge fund administration, and investor services for the VCC.
The VCC's sub-funds cover multiple asset classes. The Asia Opportunity Fund is a concentrated equity portfolio applying bottom-up research and value-driven investing to identify mispriced companies in Greater China and Asia, targeting structural inefficiencies arising from reforms and demographic shifts. The Asia Special Situations Fund focuses on Asian securitized credit and asset-backed securities, seeking steady income and attractive spreads of 100-200 basis points above comparable corporate bonds. The firm describes its overall approach as combining deep local insights across emerging Asia with a disciplined risk management framework spanning credit, equity, and quantitative strategies.
First Plus Asset Management was incorporated on 2 March 2020 in Singapore and received its CMS Fund Management license from MAS in August 2020. The firm is led by a founding team of five principals with a reported combined 90+ years of investment experience across institutions in the United States, Europe, and Asia. The company has grown to a team of 28-50 professionals with offices in Singapore (Samsung Hub and Asia Square Tower 1) and a licensed public fund platform in Thailand. PricewaterhouseCoopers LLP serves as the fund's auditor. No AUM figures or fund close sizes have been publicly disclosed.