Singapore-based boutique asset management firm APS Asset Management (APS) has signed a strategic partnership deal with New York-based Rothschild Asset Management Inc (Rothschild) to strengthen their presence globally.
Under the deal, the companies will undertake general marketing for each other in their respective countries.
“In the world of asset management, companies competed with each other. But in this new world we believe asset managers with complementary skills will form strategic alliances to create value for their clients,” Wong Kok Hoi, founder and chief investment officer of APS, says in a statement on July 4.
“We complement each other in product and geographical coverage as well as people.”
APS, which had AUM of US$2.7 billion as at May 31, has investments across Asia. Its investors are mainly North American and European institutional asset owners, financial institutions and others.
Its two largest funds are the APS China A Share (Cayman) Fund, with AUM of about $230 million, and the APS Asia Pacific Long Short (Cayman) Fund with AUM of about $460 million.
“This partnership allows us to leverage APS Asset Management’s network in Asia, while also accessing the niche expertise of a leading investment manager in one of the fastest growing regions of the world,” Rothschild Chief Executive Officer Michael Woods says in the statement.
Rothschild manages investments covering a range of US securities, including large-cap, small/mid-cap, small-cap, and smart beta solutions. It currently has AUM of over $6 billion.
