Manager
Pheim Asset Management (Asia) Pte Ltd
Sub-Manager
Pheim Asset Management Sdn Bhd
Inception Date
3 February 1995
Fund Domicile
Luxembourg
Base Currency
USD
Suitability
Institutional Investor or Accredited Investor (as defined in Section 304 and 305 of the SFA) who hold long term funds
Minimum Investment
EUR125,000 or equivalent (initial)
Administrator
Degroof Petercam Asset Services S.A.
Custodian
Banque Degroof Petercam Luxembourg S.A.
Auditor
PricewaterhouseCoopers
Valuation Day
Every Friday, or if the Valuation Day falls on a day which is not a Business Day in Luxembourg, the Valuation Day shall be the next Business Day in Luxembourg
Dealing Frequency
Every Valuation Day, subject to respective deadlines for redemptions and subscriptions
Management Fee
1.25% per annum
Performance Fee
10% above High Water Mark computed for each 6-month period ended every 31 December
Fund Structure
Pheim SICAV-SIF – ASEAN Emerging Companies was re-domiciled as a sub-fund of Pheim SICAV-SIF in Luxembourg effective from 26th Oct 2012. Prior to this, the fund, known then as ASEAN Emerging Companies Growth Fund Ltd, was incorporated and registered in the British Virgin Islands since 3rd Feb 1995.
Investment Objective
The Fund invests mainly in listed and unlisted securities of emerging companies in and derivatives (including options, forwards or futures contracts) relating to member countries of ASEAN. The Investment Manager is authorised in its discretion to invest up to 20% of the net assets of the Sub-Fund in listed and unlisted securities in and derivatives (including options, forwards or futures contracts) relating to non-ASEAN member countries.
The Sub-Fund permits investors to participate in an investment programme whose principal objective is the achievement of capital appreciation through the acquisition of equity and other securities, issued by listed and unlisted limited liability companies in and derivatives relating to member countries of ASEAN.
Investment Strategy
The Sub-Fund adopts a predominantly value approach to investment. The Sub-Fund will seek out equity securities that are undervalued, in the expectation that share prices will rise at some point to more accurately reflect their true worth. Generally, the Sub-Fund will prefer companies that have focused management, enjoy high margins and earnings growth, and low debt equity gearing, and whose shares trade at low price-earnings and low price-to-book ratios. At times, the Sub-Fund may, at the discretion of the Manager, apply a combination of value and growth strategies, or put greater focus on growth stocks to take advantage of market and business cycles. Additionally, the Sub-Fund will adopt an active asset allocation process whereby the Manager will adjust the asset allocations in response to changes in market trends. Accordingly, the Sub-Fund will not be fully invested at all times. The Sub-Fund will reduce its exposure to equity securities when, in the judgment of the Manager, the market is overvalued or near its peak, in order to preserve capital. Conversely, the Sub-Fund will seek to increase its exposure in equity securities when, in the Manager’s judgment, the market is undervalued or near a trough.
Key Risks
- Potential loss of investment
- Currency risk
- Market risk
- Counterparty risk
- Settlement and liquidity risk
- Untimely Exits due to Redemptions
- Performance of the Fund managed by the Manager may differ from the performance of the other funds managed by the Manager or its affiliate or related companies due to various factors, including but not limited to, different allocations and investments at any time or cash holdings or where the Manager decides to invest into any security for the Fund but not for such other funds, and vice versa. The past performance of such other funds is not indicative of and may not be the same as the performance of the Fund. Please refer to Section 16 of the Offering Document for further information on risks of the Fund.
Manager Profile
Pheim Asset Management (Asia) Pte Ltd (“Pheim Singapore”), a private limited liability company incorporated in Singapore on 2 June 1994, is appointed as the Manager of the Fund pursuant to the Management Agreement. Pheim Singapore was founded by Dr. Tan Chong Koay and began operations as an Exempt Fund Manager in January 1995. It was one of the first two boutique fund managers in Singapore to be granted the Investment Adviser – Boutique Fund Manager Licence by the Monetary Authority of Singapore (MAS) in 1999. In March 2002, it went on to become the first boutique fund manager in Singapore to be granted a full Investment Adviser’s Licence (now known as Capital Markets Services (Fund Management) Licence). The Manager is regulated by the MAS.
Sub-Manager: Pheim Asset Management Sdn Bhd (“Pheim Malaysia”), founded by Dr. Tan Chong Koay on 12 July 1993 and was initially licensed by the Licensing Department, Securities and Futures, Ministry of Finance, Malaysia on 9 December 1993 to carry on the business of fund and futures management. Today, Pheim Malaysia is regulated under the Capital Markets and Services Act 2007 of Malaysia and is licensed to source for funds and provide fund management services. Pheim Malaysia specializes in the emerging markets of Malaysia, ASEAN and Asia Ex-Japan and in investments comprising both conventional and Syariah and Islamic based products.