Industry Updates

Hengfai Global Systematic Multi-Strategy Fund up 10% net in first year of operation

Thursday, June 15, 2017

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Opalesque Industry Update - The Board of Directors of Singapore eDevelopment Ltd said that its Global Systematic Multi-Strategy Fund (GSMS Fund) managed by Hengfai Asset Management Pte Ltd (HFAM), a wholly owned subsidiary of SeD's investment-arm SeD Capital Pte Ltd, achieved a gross and net return of 15% and 10%, respectively, in its first year of operation. The net returns are calculated by its fund administrator, Maples Fund Services.

Launched on 1 June 2016, the GSMS Fund adopts an "all-weather" strategy that seeks to produce consistent risk-adjusted returns regardless of market volatility. The GSMS Fund employs a systematic approach focusing on liquid exchange traded securities that are diversified across asset classes, geographical regions and time-frames.

HFAM intends to allow investors the option to receive 100% of the net profits (after all fees) on an annual basis or to reinvest all profits back into the fund. HFAM also intends to offer the GSMS Fund to global fund of funds.

HFAM is a registered fund management company regulated by the Monetary Authority of Singapore. As at the date of this announcement, HFAM manages two (2) live funds, namely, the GSMS Fund and Global Opportunity Fund. As announced by the Company on 15 May 2017, HFAM also intends to manage two (2) additional funds, namely, Global Property Development Fund and Global High Yield Income Fund. The Company will make subsequent announcements to update its shareholders when there are material updates as may be necessary or appropriate.

The acquisition of HFAM is part of the Group's efforts to develop new revenue streams and is in line with the Group's pursuit of providing capital services and creating opportunities to accelerate SeD's corporate recovery. Incorporated on 9 September 2009 and listed on the Singapore Exchange Catalist (SGX:40V) in July 2010, Singapore eDevelopment Limited is involved in (i) property development and investments primarily in the United States and Western Australia; (ii) Information Technology-related businesses; (iii) development, research, testing, manufacturing, licensing and distribution of biomedical products; and (iv) investment activities.

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