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From the Opalesque team:
Pieter van Putten, CFA, who left APS Asset Management last year, informed Opalesque that he had established a new asset management company together with two ex-colleagues from APS, Dr. Tan Kong Yam and Pieter Bruinstroop.
The new company is APAC Asset Management (not to be confused with APAC Capital Advisors Ltd in Hong-Kong), based in Melbourne, and it will focus on investments in listed equities of mining and resources related companies on behalf of institutional and HNW investors.
APAC will launch the first fund, APAC APEMM Fund (which stands for Asia Pacific Energy Metals & Minerals) on October 15th after the managers have managed to secure sufficient seed funds.
The offshore fund’s “shadow” portfolio returned a consistent performance over time: 154% since Dec-08 to Aug-09. The fee is performance-based, to reduce incentive to just gather assets, at 17.5% of gain over benchmark of 8% p.a., with High Water Mark (and 0.60% management fee).
APAC will generate alpha from two sources; project development and commodity prices. China is the world’s largest consumer of most commodities, and the country accounts for nearly all of the growth in consumption of most metals. APAC invests where China is short, not where it is long and the managers believe that global commodity markets are pausing and that there will be a recovery. pietervanputten@apacasset.com...................... To view our full article Click here
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