Avanda Investment Management's assets have more than doubled to around US$10 billion since it was co-founded by Ng in mid-2015 - soon after he retired from sovereign wealth giant GIC as its chief investment officer following a 42-year career in the public service.
Ng, who was GIC's group CIO from 2007 to 2013, said a love of investing and belief that you get better at it with age were among his main reasons for starting Avanda; finance oracles Warren Buffett and Charlie Munger are his inspirations.
Long focus
The firm has earned a 7.5 per cent annualised rate of return before fees from its inception to December 2021. That's higher than the 5.9 per cent average return on the Eurekahedge Multi-Strategy Hedge Fund Index between 2016 and 2021. Avanda is also bigger than any Singapore-based hedge fund; the largest one manages US$7.7 billion, according to With Intelligence data.
Ng sees Avanda as an asset manager and not a hedge fund, partly because it's a long-only investor. Management fees average at around 0.5 per cent with a performance fee above pre-agreed target returns.
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CW,
ReplyDeleteThat's what I hope to be doing into my 90s...
Albeit on a super nano scale; my one man family office ;)
We are one man gang investment house. I long-only investor. I not alone. LoL!
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