PROFILE
APS Asset Management is a Singapore-based investment management firm specialising in Asian equities. Founded by Mr. Wong Kok Hoi in 1995, we have grown steadily to become one of the largest local independent fund management firms in Singapore. We also have offices in Tokyo, Shanghai and New York.
Registered as an investment advisor with the Monetary Authority of Singapore and the U.S. Securities and Exchange Commission, we aim to provide high quality, value-added portfolio management services to institutional investors. Our clients are based in both Europe, North America and Asia, and include public and private pension funds, foundations, insurance companies, central banks, government agencies and family offices. We also maintain strong relationships with consultants worldwide and have been included in their global multi-manager programs.
Our foremost priority is to enhance the risk-return profile of our clients’ portfolios by superior stock-picking, with a strong focus on original investment research. As an independent specialist firm, we are able to do just that. We have no shareholding relationship with stockbrokers, corporate finance firms, investment banks or any other financial institution. We pride ourselves in always putting our clients’ interests first.
PEOPLE
We believe that the success of a firm lies with its people. That is why at APS, definite measures have been put in place to continually attract and retain top quality staff. Recognising the importance of motivation, we have put in place a staff stock option scheme that makes employees shareholders of the firm. Beyond tangible incentives, we have a work environment that is conducive to creativity and teamwork. With a focused and motivated staff, we continually aspire to go beyond our clients’ expectations of performance and service.
INVESTMENT
PHILOSOPHY & APPROACH
At the core of our investment philosophy is our belief that Asian markets are inherently inefficient and, almost without exception, mis-riced securities will eventually be uncovered. We therefore believe that investors who have the skills to do rigorous primary research to search for these securities will be rewarded with strong alphas. We are glad to say that at APS, we have successfully uncovered these securities since inception by steadfastly adhering to our independent, thorough and robust bottom-up research. To produce the desired results, we recognise that it is imperative that research be undertaken by hands-on, experienced fund managers, especially because what you see and hear is very often not what you get. Our strength also lies in our regionally diverse Asian team with cultural backgrounds pertaining to the major countries we invest in. It is our specialised knowledge of these markets that enables us to successfully navigate through a tough and varied investment terrain.
Macro-economic forecasts or market timing models do not feature in our investment work. Rather, we search for and research what we call long-term structural and business trends, which are more durable and robust than short-term macro-economic themes.
We target out-performance of benchmarks 3 out of every 4 years by constructing portfolios with 15 or more different alpha clusters. These alpha clusters usually have low correlation with each other, thereby resulting in alpha-diversified portfolios comprising stocks of attractively valued, high growth, profitable, competitive and well-managed companies.
All in all, our approach is quieter and involves less of the eye-catching drama and suspense often found amongst investors in the stock markets. It also involves more research work, and requires a steady, long-term outlook. It very much runs against the grain in human nature that tends to favour quicker returns. For all these reasons, it tends to be generally a much-neglected approach, especially in the Asian markets. It is precisely in such markets that our investment philosophy finds the greatest opportunities to add value for our clients.
Disclaimer
The above is strictly for information purposes only and should not be construed as an offer or solicitation to deal in the securities/investments mentioned herein. Unless stated otherwise, any opinions expressed are based on our internal forecasts and should not be relied upon as indicating any guarantee of return from an investment in our products.
Past performance of the Fund and the Manager and any forecasts made are not necessarily indicative of future or likely performance of the Fund or the Manager. Investors may wish to seek advice from a financial advisor before making a commitment to purchase the Fund. In the event that the investor chooses not to seek advice from a financial advisor, he should consider whether the Fund in question is suitable for him. We have made every effort to ensure that the information provided herein is accurate. Please note, however, that some data has been derived from sources that we believe to be reliable but its correctness is not guaranteed. Investments in unit trusts are not obligations of, deposits in, guaranteed or insured by APS Asset Management Pte Ltd (the "Manager") and are subject to investment risks, including the possible loss of principal amount invested. Investors should refer to the prospectus for a full disclosure of all risk factors. All applications for units in the Fund must be made on the application form accompanying the prospectus. Investors may obtain a copy of the prospectus from the Manager or any of its appointed distributors. Investors should read the prospectus before deciding to purchase units in the Fund. The value of the units and the income derived from them may fall as well as rise.
Profile