Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Singapore hedge fund Pangolin frustrated with ASEAN politicians

Wednesday, September 07, 2016

Komfie Manalo, Opalesque Asia:

Singapore-based hedge fund manager Pangolin Investment Management has expressed frustration over ASEAN politicians who have let down their respective countries. Pangolin Director James Hay said that the potential for economic growth is so much greater than what is achieved in ASEAN countries because of politicians.

He said, "Corruption and cronyism play a large part, resulting in the economic cost of losing power being so much greater than elsewhere; and Asia’s retired politicians don’t do the U.S. lecture circuit… Singapore is a mature economy, but it’s exceptional political management will ensure that its growth rates remain superior to most. And Indonesia has the most potential but is still being constrained by low commodity prices."

Hay made the statement as his Pangolin Asia Fund slightly fell in August and was down 0.3% (+14.7% YTD), compared to its benchmarks as the MSCI ex-Japan gained 3.4% (+8.9% YTD) and MSCI-ASEAN fell -0.1% (+11.4% YTD) during the same period.

Absolutism props populism and protection

He explained that absolutism is propped up by populism and protection. In Malaysia, where the same government has ruled for 59 years, the voting system is skewed towards the rural population. And he said this is not because there are more people, but because the constituency seat sizes are significantly smaller. There is a big urban-rural wealth dichotomy ......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1