Cheh, formerly CEO of AllianceBernstein Hong Kong, will take up his new position at Janus effective March 29. He will be based in Hong Kong.
The Monetary Authority of Singapore licence allows Aviva Investors to provide fund management services in the city-state to both retail and institutional clients, across segregated mandates, closed-ended and open-ended funds.
The Singapore-based manager plans to give investors in Artradis AB2 Fund their money by Feb. 28, said co-founder Stephen Diggle. The firm hopes to return money in its Artradis Barracuda Fund by the same date as it awaits investors’ vote to wind up the fund, he said in an interview today. The volatility funds are “substantially in cash,” he said.
Diggle, however, plans to remain in the industry by turning his family office into a fund manager. He told Reuters he would set up two new funds and take over two of Artradis’s existing funds.
The China District Energy Fund, which has gathered US$115 million ($147.3 million) in commitments, will invest in electricity plants that also generate and sell heat to end-users, providing a second source of revenue.
United Overseas Bank said today its UOB Asset Management unit had been approved to set up a joint venture fund management firm in China with China Ping An Trust Co. and Sanya Yingwan Tourism Co.
The joint venture, named Ping An UOB Fund Management Co., will have a paid up capital of 300 million yuan ($59 million), in which UOB Asset will hold a 25% stake.
Ping An Trust, a unit of Ping An Insurance (Group) (2318.HK), and Sanya Yingwan will hold 64% and 11% of the remaining shares respectively.
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Pheim Asset Management Sdn. and its Chief Executive Officer Tan Chong Koay, appealed a Singapore High Court ruling that they’d manipulated the shares of a listed company in the country’s first civil stock-rigging lawsuit.
“If left to stand, the decision would either serve to curtail genuine market activity by the timorous or to set a penal trap for the unwary,” they said in their appeal filed Dec 21 at the Singapore High Court.
EU has agreed to set up a permanent rescue fund to help euro zone members struggling with sovereign debts.
EU treaties will now be revised to allow the fund to be set up in 2013.
Under the terms of an agreement announced on Monday, Nikko Asset will acquire DBS’ asset management arm for $137 million. DBS will use the money received to buy a 7.25% stake in the enlarged Nikko Asset.
Singapore stocks likely to end on positive note as investors regain composure after knee-jerk reaction to conflict between two Koreas.
STI +0.9% at 3,154.12 but not expected to recoup yesterday’s entire 2.0% loss, with previous session’s 3,187 intraday high offering resistance.
Still, Kim Eng Securities expects more upside for market in near term as Singapore’s blue chips, “which offer sound fundamentals and rock-solid balance sheets”, potential beneficiaries of Fed’s QE2; “a further subplot within this context is the likelihood of funds moving out of Hong Kong and China to be invested in the Singapore property market” following recent tightening measures in both markets.
Among developers, CityDev (C09.SG) +1.6% at $12.40, CapitaLand (C31.SG) +0.5% at $3.73, Allgreen Properties (A16.SG) +1.7% at $1.17, SC Global (D2S.SG) +1.3% at $1.58.
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As a new entrepreneur, you might have an excellent idea for a new mobile startup business, but you might not have the funds to build the product and bring it to market. Obtaining capital from investors is a viable way to get your business off the ground, but you need to follow some guidelines if you want to successfully raise capital. Here, Knowledge Center mobile and wireless analyst J. Gerry Purdy explains what you need to know to fund your new mobile startup business. – Here’s a question I frequently get from young entrepreneurs: quot;How do I fund my new mobile startup business? quot; After all, you might have an excellent idea and, perhaps, a small team who would love to create a business out of the idea. But you don’t have the funds to build the product and bri…
At the eleventh annual Intel Capital CEO Summit in Huntington Beach, CA, Intel President and CEO Paul Otellini gave an update on Intel Capital’s Invest in America (IIA) Fund, a $200 million commitment to investing in innovation in the U.S. over the next two years. In less than nine months, Intel Capital has invested nearly 80% of the committed dollars in 56 companies around the country. These investments, totaling $156 million, are in exciting new areas from cloud computing and cleantech to educational gaming and smartphones. Intel, along with 24 fellow Venture Capitalists, is committed to the nation’s global competitiveness and investing in industries that will produce the next high tech jobs in the U.S.
SIAS Research in a Nov 8 research report says: “Year-to-Sept 30, total revenue declined 23.0% y-o-y from $56.8 million to $43.8 million, while nine months net income (net income on an adjusted basis) decreased 26.9% from $51.7 million in 2009 to $37.8 million in 2010.
Macquarie International Infrastructure Fund achieved a net income on an adjusted basis (net income) of $37.8 million for the nine months to 30 September 2010, down $13.9 million from the prior corresponding period. Net income for the quarter was $33.2 million, up $9.6 million on Q3 2009.
Singapore investors can put a minimum of $20,000 in Man AHL Trend, said the London-based manager, which completed its acquisition of GLG Partners Inc. in October. AHL and other managed futures trading programs profited in 2008 as commodities such as crude oil rallied to records, and then collapsed.
Cambridge Industrial Trust says it will launch an equity fund raising comprising of the private placement of 56.5 million new units to raise gross proceeds of $30 million; and a preferential offering of up to 38.5 million new units to raise gross proceeds of up to $20.4 million
The new units to be offered at a price of $0.531 for the private placement and $0.531 for the preferential offering.
Lee is joining Lion Global Investors, according to a source familiar with the matter, but the Singapore-based money manager declined to confirm the reports.
