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Alliance FX Capital Appoints New Transfer Agent

, 20 April 2017 -- Alliance FX Capital (AFXC) has consummated a commercial relationship with Pennington Fund (Management, Advisory, Funds, and Listing Service) of Labuan, Malaysia.

Shaw Centre, Singapore, April 20, 2017 /PressReleasePing/ - Alliance FX Capital (AFXC) has consummated a commercial relationship with Pennington Fund (Management, Advisory, Funds, and Listing Service) of Labuan, Malaysia. We have entered into this arrangement to strengthen our capabilities in launching a new set of Asian Specialty Funds to trade as ETFs with Singapore equity market listings. Pennington is one of a few consultancy’s and transfer agents with unique funds transfer and structuring capabilities. As one of the most experienced ETF listing and structuring consultancies in Asia, Pennington possesses the banking relationships that can support these complex transactions.



As our appointed transfer agent, Pennington Fund has demonstrated to AFXC the expertise that these specialized fields require.



Chief Executive Officer, Gordon Roth said, “We look forward to having Pennington as a transfer agent that will increase our efficiency in handling volume customer funds bank clearance as well as the intricate management of the flow of funds that our ETFs business will require from us as a product underwriter. We have known this group for quite some time and are happy and confident in giving Pennington our funds transfer and structuring business.”



As such, we are changing most of our funds transfer agency relationship to Pennington from Wells Goldman (which we will still retain for the business operational transfers; such as contactor payments, salaries, etc.). Pennington Fund will now handle all the trading transactions, customer account clearing and the new ETF issuance portion of our business.



Mr. Roth, finished by saying, “We look forward, as a result of signing this deal, to be expediting these new ETF Asia specific fund offerings later this year.”



Alliance FX Capital’s new clearing bank is now OCBC Bank in Singapore under the Advisory and Management of our Transfer Agent; Pennington Fund, Labuan, Malaysia.



About OCBC Bank:

OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore and the Asia Pacific by The Asian Banker. OCBC Group are listed on the SGX-ST as one of the largest listed companies in Singapore and one of the largest listed banks in Southeast Asia by market capitalisation with more than 29,000 employees globally. OCBC Group is the second-largest banking group in Singapore by total assets. We operate our banking business as OCBC Bank and Bank of Singapore (amongst others) in over 18 countries and territories. Key markets are Singapore, Malaysia, Indonesia and Greater China.



About Pennington:

This Fund and Advisory, domicile in Labuan, Malaysia, provides all of the advantages which protect and shield Pennington Fund and Pennington Trading clients and investors. Labuan’s tax haven advantages flow through to protect Pennington’s significant international operations across numerous jurisdictions. This advantage, to structure product and transactions under Labuan’s offshore legal environment, is of great value to our companies, funds and customers. Labuan is the Offshore (Tax-Exempt) Federal Territory of Malaysia.



Pennington is voluntarily compliant with all Asian regulations including the SIAS.

Advisory Company: Pennington Trading Ltd, Seychelles Company Registration No.065640

Management Company: Pennington Managers Ltd, BVI Company Registration No.1774107

Fund Manager: Pennington Fund (Labuan) LLP, Labuan (Malaysia) Company No.LLP00332012

Registered ISIN’s:



MYU8000AA000

MYU8001AA008

MYU8002AA006



About AFXC:

Alliance FX Capital (AFXC) is a financial services firm offering a broad array of products and services that seek to empower investors. The company was founded to provide investors with an alternative to the profit-first, client-second business model that has come to dominate much of Wall Street these days. AFXC believes the firm is of no use to the client if their interests aren't perfectly aligned. This means always putting the client's best interests ahead of the firm's. AFXC service institutions as independent consultants helping to provide specific insights regarding macro events, portfolio positioning, risk management and more general needs. Current clients include global and regional hedge funds, central banks, asset managers, market-using banks, other non-bank financial institutions and qualified trading professionals.



Press Contact:

Kent Rodgers

Alliance FX Capital

1 Scotts Road, #24-10 Shaw Centre Singapore 228208

+65-6631-9760

http://www.alliancefx.capital/

# # #


Submitted by prping on Thursday, 20 April 2017 at 2:45 PM
Category: Arts & Entertainment
 
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