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APS in the News

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April 18, 2024
Avoid the ex-growth stocks, invest in these that represent the ‘future of China’ instead: CIO
Wong Kok Hoi of APS Asset Management shares which sectors of the Chinese market he is avoiding and discusses two stocks he believes are “promising stars”...

January 30, 2024
Why 5% economic growth in China is better than 10%
A more moderate rate of expansion helps to prevent bubbles and systemic crises, and contributes to a sustainable bull market...

January 29, 2024
Macro hedge funds: When solvency hangs in the balance
The closure of the Asia Genesis Macro Fund by veteran fund manager Chua Soon Hock marks a stunning fall from grace...

January 11, 2024
CNBC Street Signs Asia: There's a 'perception gap' about investing in China, CIO says
Wong Kok Hoi of APS Asset Management says investors are focusing more on the negatives than the positives...

December 11, 2023
Investing in the New China
Despite China's pandemic restrictions on foreign travel, Wong Kok Hoi of APS Asset Management did not let up for a moment...

November 29, 2023
APS Hedge Fund Still Shorting JD.com After Bearish Bets Pay Off
APS Asset Management, which shorted JD.com Inc. as early as 2017, remains bearish on the Chinese company after the trade partly helped with a 7.6% gain for its hedge fund in the first 10 months...

November 21, 2023
Computer scientist with a passion for biomedical engineering wins prestigious Rhodes Scholarship to Oxford
A Stanford computer scientist who hopes to leverage cutting-edge AI technologies for use in medical treatment has won the Rhodes Scholarship this year...

October 10, 2023
China funds look to Mideast cash as US investments wane
Chinese funds are seeking new capital sources in the Middle East and other markets, managers say, in a shift that could reshape investment flows as diplomatic tensions and other risks drive many U.S. investors out of the country...

September 29, 2023
China will weather the post-Covid blues: APS
The world’s second-largest economy can still expect mid-single digit growth for years to come, says APS Asset Management, but the value on offer is the best it’s seen in decades...

June 16, 2023
China Unlikely to Roll Out 'Big Bang' Stimulus Amid Low Inflation
The People's Bank of China cut its short- and medium-term policy interest rates by 10 basis points this week in a sign that further easing of its monetary policies will occur, but economists and investors are not hopeful for any "big bang" stimulus and instead expect a gradual easing to boost consumption...

May 5, 2023
Interview (Xinhua): China's Development Potential Will Continue to Bring New Opportunities to Investors——Interview with Wong Kok Hoi, Founder of APS Asset Management 
Wong Kok Hoi, founder of Singapore's APS Asset Management, said in an exclusive interview with Xinhua News Agency that China's deep development potential will continue to bring new opportunities to investors...

January 3, 2023
A Tale of Two Chinas
The golden period of China’s e-commerce sector is over. Valuations need a reset in line with mature stocks, instead of growth stocks...

November 2, 2022
Investors Lose Taste for Pricey Chinese Liquor as Xi Renews ‘Common Prosperity’ Call
Chinese President Xi Jinping has a vision to distribute wealth more equally across the country. Investors are sobering up to what that could mean for the companies that make the nation’s beloved fiery booze...

August 18, 2022
Nexus FrontierTech and APS Asset Management Develop Award-winning Platform for ESG Data Analysis
Nexus FrontierTech and APS Asset Management are jointly developing a platform for ESG data analysis on companies with principal offices or significant business activities in China, Hong Kong, Macau, Taiwan, and Singapore that issue equity and equity-related securities...

August 16, 2022
What the Japanese bubble taught me
The Japanese economic miracle hit its zenith in 1989...

August 14, 2022
Boosting income streams for your golden years
With rising inflation today reducing the real rate of return of bank savings, growing your retirement nest egg is a challenge, but there are still a number of investment vehicles that prospective retirees can consider...
March 7, 2022
Avoid standing naked when the tide goes out
The years 2020 and 2021 have been extraordinary. Ravaged by an unprecedented pandemic, major economies pumped in massive liquidity into their respective financial systems to save themselves from deeper stagnation...

January 19, 2022
Tencent pursues quieter investment strategy amid China's Big Tech crackdown
Pony Ma seeks to avoid Beijing's push against perceived monopolists by targeting expansion overseas...

December 10, 2021
Has the 'common prosperity' drive hurt China's prospects?
I have been travelling in Shanghai, Beijing, Shenzhen and Hangzhou for the past 11 weeks, meeting the founders, chief executive officers and senior management of over 20 listed companies...

September 13, 2021
Tencent and Alibaba pledge to open up apps to competitors
China's two largest tech companies promised to open up their digital empires on Monday, a move that may reshape online life for hundreds of millions of users...

January 19, 2021
China's crackdown on Alibaba goes beyond teaching Jack Ma a lesson
China's antitrust probe into Alibaba Group Holding Ltd., the country's largest and most high-profile internet company, is more about sending a message to the tech industry than targeting the group and its founder Jack Ma, industry observers said...

November 17, 2020
How China’s big tech companies upset Beijing
The climate is cooling rapidly for China’s tech giants.
After years of warily allowing companies such as Alibaba and Tencent the freedom to grow without significant interference, Beijing has signalled it does not like how Big Tech is behaving...

November 9, 2020
Pursuing passion for migrant worker issues
Harvard graduate Poh Yong Han is the first in her family to go to university, but her parents never pressured her to excel in her studies...

November 4, 2020
Ant Group’s dramatic listing halt may chill other fintech IPO hopefuls
The unexpected halt of Ant Group Co. Ltd.'s dual listing in Shanghai and Hong Kong two days ahead of its scheduled debut highlights the fast-changing nature of China's regulatory environment for the financial technology sector and may lead some other fintech companies to rethink, or even pause, their IPO plans, experts say...

October 22, 2020
Big-Name Asia Hedge Funds Raise Billions, Startups Struggle
Established Asian hedge funds have attracted the lion’s share of new money this year, while startups have been hamstrung by global travel curbs that have made it impossible for face-to-face meetings with European and U.S. asset allocators...

August 4, 2020
Hedge Fund Boosts Cash on Growing Risk of U.S.-China Armed Clash
As investors grapple with the relentless rise in global coronavirus cases, one Singaporean hedge fund is preparing for another dire event -- the possibility of an armed clash between the U.S. and China.

In the lead-up to November’s U.S. presidential election, APS Asset Management Pte. is increasing allocations to the relative safety of cash, along with stocks that would weather an outbreak of hostilities, said founder and Chief Investment Officer Kok Hoi Wong...

April 6, 2020
Hedge Fund Bears, Volatility Managers Thrive in Wild Markets
Wong Kok Hoi, founder and CIO of Singapore-based APS Asset Management has been bearish on JD.com for years. Last week, SumZero published his full-length short report on the e-commerce giant, whose $60B valuation he deems "unjustified". We sat down with Wong for an in-depth dissection of his thesis and more detail on the red flags investors are either missing or underestimating...

March 17, 2020
Hedge Fund Bears, Volatility Managers Thrive in Wild Markets
Wong Kok Hoi, whose company manages $2.3 billion of assets for largely institutional clients, said his $270 million APS Asia Pacific Long Short fund is up 14.3% this month. It’s gained 21% this year thanks in large part to bets shorting Wynn Macau Ltd., Apple Inc., and Australian retailer Harvey Norman Holdings Ltd., whose shares have all tanked.

Its smaller All China Long Short Fund has returned 14% this year while its flagship long-only China funds are down 4% -- a respectable achievement given its mandate and the state of the market.

“We’re at the early stage of capitulation by investors because many, especially in the U.S., have been so long for so many years and leveraged. They’re only just beginning to unwind,” Wong said. “Covid-19 has just started in the U.S. and Europe. If I use baseball language to describe it, they’re probably in the second or third innings."
February 18, 2020
This $3.3b Singapore firm is betting everything on China
The US$2.4 billion (S$3.3 billion) Singapore-based firm will shut its non-China-focused strategies with about US$250 million of outside money to focus exclusively on Asia's largest economy, it said in a statement on Tuesday (Feb 18)...

February 12, 2020
China: The next steps in quest for capital
As China slowly and deliberately opens its capital markets, foreign asset managers are eager to keep up with onshore regulations that open avenues for investment and access to a previously untapped pool of capital...

September 19, 2019
APS was recently admitted as a member of the Chancellor’s Court of Benefactors, Oxford University. Mr Raymond Lim, our Executive Chairman with Lord Patten, Chancellor of Oxford University at the ceremony.

August 29, 2019
In a world of darkness, human agency casts a light 
The existing world order is in crisis. Multilateralism and the institutions that give life to it like the United Nations and World Trade Organisation are under unprecedented stress as great powers not just ignore but denigrate them... (Full ver.)

November 16, 2018
Sohn Hearts and Minds 2018: Top investment tips from leading fund managers 
Leading fund managers have gathered in Melbourne's Hamer Hall for the third Australian Sohn Hearts and Minds investment leaders conference. Here are their best ideas...

November 16, 2018
Sohn Australia – Hearts & Minds Investment Leaders Conference
Conference Presentation

November 16, 2018
Sohn Australia – Hearts & Minds Investment Leaders Conference
One-on-One Interview for "Your Money"

October 28, 2018
APS investment chief outlines top short ideas
When Kok Hoi Wong analyses a stock, he's not just concerned with next year's earnings. The APS Asset Management chief investment officer frequently finds himself playing detective and fact-checking by doing his own sleuthing...

August 20, 2018
WFOE PFM in China: A share market is attractive, try to do localization 
English Translation: The China A-share market remains attractive to wholly foreign-owned enterprise private fund management (WFOE PFM) companies despite its high volatility and big corrections this year. Notably, a number of WFOE companies had in the first half of the year accelerated their entry into the A-share market, promoted localization strategies, and are ready to launch new products...

July 17, 2018
APS granted Private Securities Investment Fund Manager license by the Asset Management Association of China
APS Asset Management has been granted a Private Securities Investment Fund Manager ("PFM") license from the Asset Management Association of China ("AMAC"). The license will allow the firm to develop investment products for investors in China...

July 13, 2018
China Consumer, Cyber Security, Technology Stocks Favored, APS Asset Says
Wong Kok Hoi, founder and chief investment officer of APS Asset Management Pte in Singapore, talks about China's economy and stocks. He speaks with Yvonne Man and Ramy Inocencio on "Bloomberg Daybreak: Asia."...

June 5, 2018
This investor sees JD.com as 'grossly' overvalued
Kok Hoi Wong of APS Asset Management says the overvaluation of JD.com is partly a result of some investors believing that the second largest e-commerce company in China “must” eventually make money...

May 30, 2018 
Sohn Hong Kong Investment Conference 2018
Smoke and Mirrors--The JD.com Story 

January 30, 2018
Reinstatement of the Rhodes Scholarship for Singapore in partnership with APS Asset Management
The Rhodes Trust has announced the reinstatement of a Rhodes Scholarship for Singapore... 

October 9, 2016
Thoughts on the CPFIS Review
APS Asset Management founder and chief investment officer Wong Kok Hoi has strong views relating to the review of the CPF Investment Scheme...

October 9, 2016
APS Sticks to Alpha Hunting Guns
APS Asset Management is a thriving homegrown fund manager, with assets under management of nearly US$3 billion...

July 22, 2016
Contrarian Stock Picker Offers 2 Buys, 3 Shorts
When the market is pointing left, Wong Kok Hoi looks right...

March 10, 2016
This investor remains keen on China's new economy
We’ve increased exposure to Indonesia and remain invested in China’s new economy sectors, says Wong Kor Hoi from APS Asset management...

February 19, 2016
PBOC is doing what it can: Investor
Wong Kok Hoi from APS Asset Management says PBOC’s recent easing moves are an attempt to boost investors’ confidence...

January 8, 2016
Top Hedge Fund Says China Should Have Waited on Crash Rule
APS Asset Management Pte, whose long-short China hedge fund returned 42 percent last year to beat most peers, said the nation’s authorities should have waited before suspending the circuit-breaker rules because retail investors will eventually learn to deal with them...

January 7, 2016
Singapore's APS a star performer in 2015
As fund managers compile their performance data for 2015 these two weeks, homegrown APS Asset Management is likely to come out tops among Asia-focused funds...

December 4, 2015
APS China Hedge Funds Rose in November as Global Peers Stumbled
APS Asset Management Pte’s long-short China hedge fund advanced last month to bring its returns this year to more than 41 percent, ranking it among Asia’s top performers as many global peers have stumbled...

October 28, 2015
Appointment of Mr. Raymond Lim as Executive Chairman of APS  
APS Asset Management is pleased to announce the appointment of Raymond Lim as Executive Chairman effective 27 October 2015... 

August 27, 2015
CPFIS funds' 7-quarter growth streak ends
Funds under the Central Provident Fund Investment Scheme (CPFIS) fell by 1.53 per cent in the second quarter, ending what had been seven consecutive quarters of growth...

August 12, 2015
Yuan Move Is Short-Term 'Jab', More Needed, Hedge Fund APS Says
The devaluation of the yuan will provide a short-term boost to China’s exporters while more lasting reforms are required to overhaul the nation’s economy, according to hedge-fund manager APS Asset Management Pte, which manages $3.3 billion in assets...

August 10, 2015
Staying Upbeat on Singapore
A panel of nine fund managers look back at past crises that affected the city-state, examine what is holding back the local bourse and give their top local stock picks for the long run...

July 28, 2015
Go all in on China's A-shares, says this expert 
Wong Kok Hoi, managing director & CIO of APS Asset Management in Singapore, says the driving forces of the bull market in China remain intact...

July 16, 2015
APS Asset Management Safeguards Investors’ Interests During China A Share Rout  
During the week of 6-10 July when about half of Chinese listed companies halted the trading of their shares, APS Asset Management decided to act in the best interests of the firm’s investors... 

May 29, 2015
China stock bull market intact: Pro
China’s stock market bull market remains intact, says Wong Kok Hoi, Founder & CIO at APS Asset Management..

May 25, 2015
Asian Equity Plays
Top-performing Asian equity fund managers are betting that North Asian bourses will outperform those in Southeast Asia over the next 12 months. Find out which are their favourite markets and stocks...

May 21, 2013
Investment Risks in the Real World - CFA Talk at the 66th CFA Institute Conference 
When I was asked by Gerard Lee to speak at this Event on any topic of my choice, I could have chosen the easy way out by talking about the prospects of Asian or China markets...

May 12, 2015
How this fund manager navigates the China market
Wong Kok Hoi, founder & CIO at APS Asset Management, discusses the investment management firm’s strategy in the mainland stock market...

December, 2014
Eurekahedge Interview with Wong Kok Hoi 
With 30 years of investment experience, 6 offices around Asia and approximately US$3.2 billion in total assets, Wong Kok Hoi, Founder & CIO at APS Asset Management, discusses the challenges and opportunities of investing in Asia..

March, 2013
Asia Asset Management: China specialist leverages on the ground research
Since its inception in 1995, APS Asset Management, winner of the Asia Asset Management 2012 award for China A-share Equity, has employed a stock selection process that begins by sourcing ideas from structural and business trends, new companies and products, out-of-favour stocks and company-specific leads...

January 1, 2013
Appointment of Mr. Raymond Lim as Chairman of APS Asset Management
APS Asset Management Private Limited has appointed former Cabinet Minister Mr Raymond Lim as Chairman of the firm... 

November 26, 2012
Retirement of Dr Lee Kong and appointment of Ms Lu Lan Fang as COO of APS
We wish to inform you that Dr. Lee Kong, Chief Operating Officer of APS Asset Management Pte Ltd (APS) since 2008, has tendered his letter of retirement, with effect on 31st December 2012. The management of APS has agreed to Dr. Lee Kong’s intended retirement. However, Dr. Lee Kong has kindly accepted an offer from APS to work as an Advisor to handle Information Technology and other major operations projects that will continue to enhance the efficiency and productivity of the firm. Dr. Lee Kong will assume the role of Advisor on 1st January 2013...

July 17, 2012
Guest Professorship at Beijing University - Dr. Tan Kong Yam 
We are delighted to inform you that Dr. Tan Kong Yam, Deputy Chairman of APS China Research and a Board member of APS, has been invited by the Beijing University to be a guest professor in its EMBA program... 

March, 2011
Asia Asset Management Best of Best Awards 2010 (APS Asset Management: Bottom-up investing to win in China)
With many China-focused investment platforms content to follow the macro growth story Singapore-based APS Asset Management has achieved performance that has made it a winner of the Best of the Best Performance Award for China Equity (Shanghai A-share Index) for the fifth year running by applying principles that Warren Buffet would happily endorse - painstaking bottom-up analysis of individuals companies to ferret out the undervalued gems...

November 19, 2010
Eurekahedge Interview with Wong Kok Hoi
Founded in 1995, APS provides fund management services specialising in Asia Pacific equity investments...

June 18, 2010
IPA: The long game pays off in China
Among global institutions seeking superior investment returns, a recurring question is, how to play one of the world’s most alluring but enigmatic markets - China...

June, 2010
Asia Asset Management: New APS CEO Aims to Recapture Firm's Former Glories
Lim Meng Tat, the newly appointed chief executive officer of APS Asset Management, is looking forward to taking the 15-year old boutique firm to another level...

April 28, 2010
Opalesque Exclusive: APS Asia-Pacific Hedge Fund returned +3.9% in March (11% YTD) but Greek debt, raw material suppliers, and inflation raises concerns
APS Asset Management (APS), a Singapore-based fund management firm, saw its APS Asia Pacific Hedge Fund return +3.9% in March (11.1%YTD)...

April 9, 2010
Opalesque Exclusive: 2011 could be difficult for Asian hedge funds if China Stimulus is withdrawn
Investor sentiment is dampening on the back of rising inflation rates in China, which climbed to 2.7% in February from 1.5% in January, causing grave concerns amongst global and domestic investors that interest rates will be pushed up soon by the People's Bank of China (PBC)...

April 7, 2010
Opalesque Exclusive: UCITS funds have great potential in Asian hedge fund markets
Today, Asia is one of the most important markets for the distribution of cross-border European funds under the structure called Undertakings for Collective Investment in Transferable Securities (UCITS)...

March 9, 2010
BI ME: Hedge Funds World Middle East Awards select winners from across the region
Four months of intense competition, careful selection by an independent panel of judges culminated on 1 March in the announcement of winners of the 2010 Hedge Funds World Middle East Awards...

March 8, 2010
Opalesque Exclusive: APS China Alpha Fund (+94.9% in 2009) increased shorts, reduced net exposure in wake of tightened monetary policy
APS Asset Management (APS), a Singapore-based fund management firm saw its China Alpha Fund return +94.9% in 2009 and -0.5% in Jan-10...

August 19, 2009
Bloomberg TV Interview with Wong Kok Hoi

August 19, 2009
APS's Wong Bets on Convertible Bonds as Hedge to Stocks Slump
APS Asia-Pacific Hedge Fund, the best performer among 108 Asian long-short equity funds in the past 12 months, has invested half its portfolio in convertible bonds to limit potential losses from a slump in stocks..

June 2, 2009
Savvy Investor, Wong Kok Hoi: "Don't Do What Others Do"
In October 2007, when almost everyone in Asia was still high on the multi-year bull market, fund manager Wong Kok Hoi was circumspect...

May, 2009
Strong Turnaround at APS
When Wong Kok Hoi established APS in 1995, he wanted the firm to always pride itself in partaking in rigorous bottom-up research and seriously managing institutional money...

March, 2009
Asia Asset Management Best of Best Awards 2008 (APS Asset Management: Finding gems in a bear market)
The great China economic express suddenly found itself losing steam in 2008, with its export sector reeling as a result of wilting external demand and its Shanghai Composite index dropping an astounding 65% for the year...

March 18, 2009
Opalesque Exclusive: Some China funds are doing well as A-share market is recovering
Even as most emerging markets are expected to go through much slower growth this year, some analysts believe China might keep up at good pace at a - slower but still high - growth rate of 6.5% this year, partly due to its huge reserves and its fiscal stimulus plans...

July 1, 2008
Opalesque Exclusive: APS China Fund re-launched as long/short China focused equity fund
APS informed Opalesque in an email communication that the firm is now launching the APS China Alpha Fund as a long/short China focused equity fund...

March, 2007
Asia Asset Management Best of The Best Awards 2006
APS Asset Management is bullish about China's A-share market, forecasting strong earnings growth over the next few years, with at least a 15 to 20 per cent jump in earnings this year...

October, 2006
APS rolls out China Fund
Singapore-based APS Asset Management is planning to launch a new China fund in October this year, said Wong Kok Hoi, the company's chief investment officer... 

July 16, 2004
APS Launches China A Share Fund
On July 15th, Singapore-based fund manager, APS Asset Management launched the APS China A-share Fund, which solely invests in China A-shares...

January 18, 2004
APS Asset Management Wins Four Awards in Asia Asset Management Contest
APS Asset Management, the Singapore based boutique fund management firm which made headlines last year with its launch of the first no-expense unit trust in Singapore, has won four awards from Asia Asset Management, the Hong Kong based magazine for the fund management industry in Asia. 

July 23, 2003
APS Launches Singapore’s first zero expense unit trust – The APS Alpha Fund
APS Asset Management, a Singapore-based asset management firm, launched Singapore’s first zero expenses unit trust today...