Best Long/Short Asset Manager - Singapore & Most Consistent Asian L/S Fund: APS Asia Pacific Long Short Fund
Company: APS Asset Management
Address: 3 Anson Road
#23-01 Springleaf Tower
Phone: (65) 6333 8600
Fax: (65) 6333 8900
APS Asset Management was founded in 1995 by its CIO, Wong Kok Hoi, in Singapore. Since then, the firm has grown significantly, starting with assets under management of about USD15 million, which have since grown to USD2.8 billion as of the end of August in 2015.
APS started with just seven staff in one office, which has now expanded to more than 60 staff and six offices worldwide. Despite these expansions, the core values and vision of APS have not changed. In the beginning, Mr Wong founded APS for three reasons. These include serving global institutional asset owners, specialising in Asian investments as well as employing investigative research and independent thinking in the investment process. All three foundations have remained constant throughout APS’ history.
Today, nearly 80% of our AUM are from pensions, endowments and foundations and the rest are from family offices, financial institutions, sovereign wealth funds, corporates and high net-worth individuals.
As mentioned before, APS’ investment decisions are predicated on investigative research and independent thinking. Our company research includes interviews with suppliers, competitors, peers, customers, former employees, industry specialists, management, employees and other relevant stakeholders. Through this process, our analysts walk the ground, visit facilities, test the products where possible and read the fine print.
This process gives APS sufficient knowledge to make and, importantly, maintain high-conviction decisions even when the market temporarily runs against our contrarian stock selections for years at a stretch. Knowing each stock inside-out also allows us to revise our investment theses when circumstances change, and effectively value a stock and to set valuation targets.
APS is a boutique in the sense that we are highly specialised, have our skin in the game alongside investors and are agile, decisive and bold. Our corporate infrastructure has the depth and breadth expected of a firm serving global institutional asset owners. We have fully staffed, in-house teams for investment, risk management, compliance, trading, investment administration, client services, marketing, sales and corporate functions.
APS’ headquarters is in Singapore and we have three research offices in Shanghai, Beijing and Shenzhen, as well as an office in Tokyo and a representative office in New York.