“Although we have generated significant alphas in other markets within Asia, we feel that our clients are best served by us devoting all our time and energy on generating the best returns in China,” Founder and Chief Investment Officer Wong Kok Hoi said. “APS henceforth will be a China house – live, breathe and think China.”
SINGAPORE (Feb 19): APS Asset Management Pte is going all-in on China.
The US$2.4 billion ($3.3 billion) Singapore-based firm will shut its non-China-focused strategies with about US$250 million of outside money to focus exclusively on Asia’s largest economy, it said in a statement Tuesday. Clients will either be able to get their capital back, or move into the China strategies.
