Quick contact info

Pheim Asset Management (Asia) PTE LTD 43, Duxton Road, Singapore 089507 Monday-Friday: 9am to 5pm Saturday: 9am to 1pm Tel: +(65) 6227-9928 Fax: +(65) 6225-9912 Email: pheim@pheim.com.sg
Image Alt

Pheim VCC – Pheim Emerging Asia ex-Japan Balanced Fund

Manager

Pheim Asset Management (Asia) Pte Ltd

Inception Date

10 February 2022

Fund Domicile

Singapore

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

US$100,000 (initial); US$10,000 (Subsequent)

Administrator & Custodian

DBS Bank Ltd

Legal Counsels

Rajah & Tann Singapore LLP

Auditor

CLA Global TS Public Accounting Corporation

Valuation Day

Every Friday, or if the Valuation Day falls on a day which is not a Business Day in Singapore, the Valuation Day shall be the next Business Day in Singapore

Dealing Frequency

Every Valuation Day, subject to respective deadlines for redemptions and subscriptions

Management Fee

1% per annum

Performance Fee

10% above High Water Mark computed for each 6-month period ended every 30 June or 31 December

Early Redemption Penalty

  • Shareholders are allowed to redeem up to 10% of his or her Participating Shares at any time within the first 12 months from the date of issue of such Participating Shares (1st year) and an additional 10% of his or her Participating Shares for each subsequent 12 months thereafter (i.e. 2nd year and 3rd year).
  • In the event that no redemption is made during the 1st year, a Shareholder may redeem up to 20% cumulatively at any time during the 2nd year.
  • In the event that no redemption is made during the 1st year and 2nd year, a Shareholder may redeem up to 30% cumulatively at any time during the 3rd year.
  • Any redemption amount exceeding the aforesaid thresholds shall be subject to a Redemption Fee of 5% which is payable to the Fund.

Fund Structure

Pheim VCC is a company incorporated as an umbrella Variable Capital Company with segregated sub-funds under the laws of Singapore. Pheim VCC had incorporated one Sub-Fund – Pheim Emerging Asia ex-Japan Balanced Fund.

Investment Objective

The Sub-Fund will invest in a balanced portfolio of fixed income instruments and equities, warrants and other securities issued by limited liability companies and derivatives (including options, forward or futures contracts) listed, unlisted or traded on any stock or futures exchange with a focus principally but not exclusively in the Asia ex Japan region. The Sub-Fund may also invest in high-grade short-term investments or deposited with established financial institutions. The asset allocation of the Fund, as a percentage of the Net Asset Value of the Fund, is projected to be as follows:

  • Equities & equity-related securities:
    • maximum – 60%; minimum – 0%
  • Fixed income instruments including real estate investment trusts (REITs) and liquid assets:
    • maximum – 100%; minimum 40%

The Sub-Fund permits investors to participate in an investment programme whose principal objective is the achievement of capital appreciation.

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
  • Risk factors relating to emerging markets
  • 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 Part IV of the Private Placement Memorandum (PPM) 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.