SinoPac to launch Asian equity value fund
18 February 2014
Category: News, Asia, Hong Kong, Taiwan
By Asia Asset Management
SinoPac Asset Management, a Hong Kong-based asset management and wholly-owned subsidiary of SinoPac Financial Holdings, is expanding its offering with the launch of the Accudo Asian Value Arbitrage Fund. Manuel Schlabbers, who will join the firm on March 1, will manage the fund.
The Accudo Fund, to be launched in early March, will focus on small and micro-cap companies and will combine value investing with liquidity-constrained arbitrage strategies to focus on under-researched areas of the market.
Commenting on the launch, Diederik Werdmölder, chief executive officer of SinoPac Asset Management, said: “We are pleased to have another experienced portfolio manager like Manuel join our team. His fund is a complementary strategy to the funds already on our platform. We look forward to bringing his new strategy to our investors and help Manuel grow the assets of his fund.”
Mr. Schlabbers has more than eight years of experience in arbitrage trading at both Morgan Stanley and Credit Suisse. He said: “I am very pleased to be part of SinoPac Asset Management. Their platform is an ideal turnkey solution for managers of small- and medium-sized funds.”
This long-biased fund is designed to provide investors with superior, risk-adjusted returns. “The target is to beat the MSCI AC Asia ex-Japan Index by at least 5% per annum over a five year period,” Mr. Schlabbers added.
The Accudo Asian Value Arbitrage Fund will start with initial capital from Sinopac, Principals and third party investors. It is expected to grow to US$30 million by the end of 2014. SinoPac Solutions + Services (a comprehensive portfolio management support platform within the SinoPac Holdings family of financial services) will be the fund administrator.
Steve Bernstein, chief executive officer of SinoPac Solutions + Services, said: “We look forward to working with Manuel. SinoPac offers the only fully integrated platform solution for small- to medium-sized funds in Asia.”
He added: “Our joint services include business setup, middle office, back office operations, investor services, fund administration, licensing, capital introduction and seeding.”
SinoPac Holdings has assets in excess of NT$1.3 trillion (US$43.3 billion).