Regulations for VCCs

Should the sub fund be a single/multi investor, multi/sub asset fund?

While the sole objective of a VCC is intended to be a collective investment scheme, there is no law that prevents a VCC or a sub fund from having only one investor or only one investment.
A key consideration in determining how you structure the shareholding or investment depends on your investment objective. The VCC structure allows for ease of consolidating of investment assets under a fund structure for economies of scale for operational and tax efficiencies.
If there are multiple investors, assets and liabilities fo each sub fund are segregated and there is ring fencing.
There is no public access to financial statements and investor details according privacy to investors.
Capital redemptions at NAV or dividends can be paid out of capital.