Nelson Choi

【𝗦𝘂𝗻 𝗛𝘂𝗻𝗴 𝗞𝗮𝗶 & 𝗖𝗼. 𝗖𝗼𝗺𝗺𝗶𝘁𝘀 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝘁𝗼 𝘁𝗵𝗲 𝗝𝗮𝗽𝗮𝗻 𝗔𝗹𝗽𝗵𝗮 𝗙𝘂𝗻𝗱 𝗡𝗲𝘄𝗹𝘆 𝗟𝗮𝘂𝗻𝗰𝗵𝗲𝗱 𝗯𝘆 𝗔𝗰𝘁𝘂𝘀𝗥𝗮𝘆𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀 】 Sun Hung Kai & Co. Limited (“SHK & Co.”) and its licensed funds management arm, Sun Hung Kai Capital Partners Limited (“SHK Capital Partners”), are pleased to announce their commitment to the 𝗔𝗰𝘁𝘂𝘀𝗥𝗮𝘆𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀 𝗝𝗮𝗽𝗮𝗻 𝗔𝗹𝗽𝗵𝗮 𝗙𝘂𝗻𝗱, which went live on 26 September 2024. This is in addition to SHK & Co.’s ongoing investments in ActusRayPartners’ Asian and European strategies. Other existing clients of ActusRayPartners have also expressed early interest in the Japan strategy. The equity long/short near market-neutral strategy seeks to generate alpha by identifying and capturing inefficiencies in the Japan equity market. ActusRayPartners employs its 𝘋𝘪𝘴𝘤𝘳𝘦𝘵𝘪𝘰𝘯𝘢𝘳𝘺 𝘗𝘳𝘰𝘣𝘢𝘣𝘪𝘭𝘪𝘴𝘵𝘪𝘤 𝘐𝘯𝘷𝘦𝘴𝘵𝘪𝘯𝘨 process, which combines a quantitative base with discretionary adjustments to address quantitative deficiencies. This marks the third alpha strategy launched by ActusRayPartners, following the successful European strategy initiated in 2020 and Asian strategy launched in 2022. The European strategy received the HFM European Performance Award in 2023 and 2024 respectively, and the Asian strategy received the HFM APAC Performance Award in 2024. ActusRayPartners is a Hong Kong-headquartered asset management company equally co-founded by Andrew Alexander, Raymond Chan, and Patrick Cheung in 2019. Several members of the team previously worked together in the Quantitative Hedge Funds division of Macquarie Group. As of today, ActusRayPartners comprises of 27 colleagues based in Hong Kong and Sydney, managing over US$700 million across Asia, Europe, and Japan. Tony Edwards, Deputy CEO of SHK & Co., stated, "Congratulations to ActusRayPartners on the launch of their new fund. Since 2020, SHK & Co. has seeded and supported ActusRayPartners, and this further commitment reinforces our confidence in their capabilities and aligns with our investment objectives." “The launch of the Japan Alpha strategy represents an exciting milestone for us. We would like to express our gratitude to SHK & Co. for their continued support over the years,” said the co-founders of ActusRayPartners Limited. “We are eager to employ our proprietary 𝘋𝘪𝘴𝘤𝘳𝘦𝘵𝘪𝘰𝘯𝘢𝘳𝘺 𝘗𝘳𝘰𝘣𝘢𝘣𝘪𝘭𝘪𝘴𝘵𝘪𝘤 𝘐𝘯𝘷𝘦𝘴𝘵𝘪𝘯𝘨 process in the pursuit of alpha for our investors in the Japan equity market.” Press release: https://lnkd.in/gDZH_crG #ActusRayPartners #JapanAlphaFund #NewLaunch #CommitCapital #FundPartnership

62

2 Comments

🌏 Temasek's Global Investment Strategy Revealed! Curious about how one of the world's largest investment companies operates? Alpin Mehta, Head, Real Estate, and Deputy Head, Private Equity Fund Investments shares: • The 4 key structural trends shaping Temasek's investments • Why the US remains an attractive market • Temasek's bullish stance and cautious approach • How they balance long-term vision with adaptability • Insights into their portfolio reshaping strategy Dive into the mind of a global investor and gain valuable insights for your own investment approach! Catch the full episode: YouTube: https://lnkd.in/grVSRfK8 Spotify: https://lnkd.in/g4gPPPkW Apple: https://lnkd.in/gsB78PjC #InvestmentStrategy #GlobalMarkets #Temasek #TheFinancialCoconut #Investing

3

[AEC Group Supports HKMA's Launch of The Hong Kong Taxonomy for Sustainable Finance 👏🏻] AEC Group is proud to support the highly anticipated launch of The Hong Kong Taxonomy for Sustainable Finance, released by The Hong Kong Monetary Authority (HKMA) on May 3, 2024. This groundbreaking taxonomy aims to serve as a crucial tool for increasing awareness about green finance, fostering a shared understanding of green activities, facilitating the flow of green finance, and establishing a foundation for further applications to drive Hong Kong's transition into a low-carbon city. Financial institutions are also encouraged to leverage this taxonomy when evaluating the environmental impact of projects and assets, developing products, and making disclosures. Key highlights of the Hong Kong Taxonomy for Sustainable Finance: 📌 Encompasses 12 economic activities across four sectors, including power generation, transportation, construction, and water and waste management. 📌 Aligns with the Paris Agreement and provides clear definitions regarding the emissions intensity performance required of economic activities to keep global warming well below 2℃, ideally aiming for 1.5℃ 📌 Prevents greenwashing and clarifies what can be considered ‘green’ to ensure that claims of meeting this definition can be verified accordingly 📌 Interoperability with other taxonomies such as the Common Ground Taxonomy (CGT), the European Union (EU) Taxonomy, the Green Bond Endorsed Projects Catalogue, ASEAN Taxonomy and the Climate Bonds Taxonomy (CBT). 📌 Accomplished by categorizing activities in accordance with the International Standard Industrial Classification of All Economic Activities (ISIC) and Hong Kong Standard Industrial Classification (HSIC) codes. 📌 Designed to meet global decarbonization objectives under science-based criteria and thresholds to transition the global economy to net-zero emissions by 2050. 📌 Recognizes the importance of Do No Significant Harm (DNSH) and Minimum Social Safeguards (MSS) AEC Group is proud to support HKMA on this achievement! We provide professional consultancy services for local certification systems such as Beam Plus and Zero-Carbon-Ready Building Certification Scheme to help assess carbon footprint and optimize the sustainability of buildings and infrastructures in Hong Kong, which will go hand in hand with the newly published Hong Kong Taxonomy for Sustainable Finance to help drive the decarbonized built environment forward. 👉🏻 Get in touch with us NOW at [email protected] to learn more. Read the FULL version of The Hong Kong Taxonomy for Sustainable Finance:https://bit.ly/3JNgzvl 🌏Know more about AEC Group: https://lnkd.in/gjiUsffa   🏡Know more about【Green Finance & ESG 】Consultancy Service： https://lnkd.in/gDmEtDKG #AECGroup #HKMA #SustainableFinance #GreenInvestments #HongKongTaxonomy

5

My two cents on the upcoming Policy Address with SING TAO NEWS CORPORATION LIMITED 星島新聞集團 Interview: 1. The government can consider allowing applicants of the new Capital Investment Entrant Scheme (#CIES) to invest in residential properties, but that should be limited to properties above a certain price level so as not to compete with local first-time buyers and upgraders. 2. The supply of subsidised housing should be increased to cater to the aspirations of #youth in homeownership. The government can also consider setting up a dedicated saving scheme for youth buying subsidised housing. 3. More flexibility and incentives should be provided to encourage the private sector to participate in #PPP in land development in view of the tight fiscal condition of the treasury. #PolicyAddress #PA2024

33

MPF Ratings released Q1 2024 MPF Asset Class Fund Flow Summary by highlighting that US equities received over $9bn of MPF’s net inflows in Q1 2024, by far the largest quarterly MPF net inflows into US equities ever recorded, and a concerning trend which Mr Chung attributes to a confluence of new fund launches, disappointing local equity results and MPF members trying to capitalize on the strong momentum of the US market. Find out more here: https://lnkd.in/eRJmq4ne #mpfratings #MPFRIntelligence #MPFRConsistentPerformers #MPFFastMover #MarketInsights #MPFMarketShare #MPFFundFlows #MPFNetReturns #MPFIndustry #pensionschemes #assetmanagement #investmentmanagement #mpf #investment #empf

2

Founder: Li Ka-shing  Founded: 1950 (Cheung Kong Industries) Headquarters: Hong Kong  Industry: Conglomerate (Real Estate, telecommunications, retail, ports) Services: Infrastructure, telecommunications, retail operations Cheung Kong Industries’ first IPO listing in 1972 facilitated significant expansion in the real estate sector. In 1979, the company acquired Hutchison Whampoa, paving the way for its market entry into global ports, telecommunications and the retail sector. In 2015, the company was restructured into CK-Hutchison-Holdings and CK Asset Holdings on the Hong Kong Stock Exchange. Its achievements include: - Being the largest independent operator of ports globally. - Being a significant player in global telecommunications and retail sectors. To discover how your SME can achieve similar growth through capital markets, join our next IPO3 event on: 📆4 June 2024 ⏰9:00am to 1:00pm Discover how to: 1. Maximise your business valuation. 2. Generate immediate cash for future profit. 3. Sustain the growth of your business post-IPO. Register via this link to secure your seats: https://lnkd.in/grARzd8U WhatsApp us at +65 82227413 for enquiries.

1

More than 50% of participants express optimism on the outlook of the global, Hong Kong, and the Mainland China economies, according to an investor survey by the Hong Kong Investment Funds Association (HKIFA) released on July 17. The survey indicates that Hong Kong investors continue to show preference towards Hong Kong market, Mainland China, and North America.   Nelson Chow, Co-chair of the HKIFA, said,“While investors anticipate a positive economic outlook, a large number remains hesitant to increase their market exposure. With the majority of survey respondents predicting interest rate cuts either later this year or in early next year, they may want to explore long-term investment options like mutual funds to benefit from potential capital appreciations and dividend yields.”   Simon Wong, CFA, CPA, Co-chair of the HKIFA, said that the current high interest rates have led to increased returns on money market funds and deposits. Therefore, many investors are opting for a more conservative investment strategy by allocating their funds to bonds or money market funds in anticipation of potential buying opportunities. Read: https://lnkd.in/gMXEf_3N

1

A brief view on USD/JPY in our fx column after the choppy session https://lnkd.in/gfFdaD3V

15

“Retirement investment reimagined” – our latest retirement research reveals a heightened sense of urgency among non-retired Hongkongers to save for healthcare needs during their retirement, compared to the pre-Covid era, alongside considerations related to inflation and the economic environment in retirement financial planning. Watch the video featuring Lesley-Ann Morgan, Global Head of Pensions and Retirement, to learn more. In the second episode, Lesley-Ann discusses potential solutions to enhance financial preparedness for retirement. https://okt.to/90Kwr7 #Investment #Retirement #Pension

6

Investment interest in APAC markets is rising, making it essential for fund managers to keep up with the latest trends in fundraising and exits. At a recent EY Wavespace Singapore event ‘Forward Momentum: Emerging trends for Asian managed funds on fund raising and exits', experts gathered to discuss the growing importance of private capital trends and key legal, tax, and commercial factors. Thank you to the valued clients and speakers who joined us in conversation. Please contact us should you wish to learn about how EY teams can support your firm’s growth ambitions: [email protected]

34

Thank you to both Hong Kong Economic Journal and Singtao for the hour-long interview. It was a pleasure to talk about Hong Kong’s dynamic investment landscape and the Greater Bay Area (#GBA). Thank you Hong Kong Trade Development Council for the arrangement. #BIPAsia Are we telling good stories about Hong Kong? Absolutely. We #gobi feel a strong responsibility to showcase the city’s opportunities within the GBA to the world. Here are selected points we discussed during the chat: 🌏 Capital Market Dynamics: The landscape shifts as US-Sino offshore funds fade out, making way for emerging players. This transition is reshaping the capital flow into GBA, creating new opportunities for local and regional investors. 🌏 Valuing Fundamentals: Investors are now placing greater emphasis on startups' fundamentals, focusing on their industry positioning and commercial viability. Over the past three years, valuation recalibration has made investments more attractive and realistic. 🌏 DeepTech Opportunities: Deep tech is becoming a focal point for investors, with many identifying promising opportunities through spin-offs from academic and scientific institutions. This approach not only shortens R&D cycles but also aligns with global trends in innovation. 🌏 Innovative Exit Strategies: In today’s market, we need to be creative with exit strategies. Small-cap listings can serve as stepping stones, enabling companies to raise funds at lower costs while collaborating with larger groups or listed companies to scale further. 🌏 Maintaining Momentum: Despite market challenges, we have remained disciplined in supporting startups and fostering innovation. This year alone, Gobi Partners has invested in approximately 10 new projects in GBA, including re-ups of existing portfolios and more than one transaction per month. Hong Kong is uniquely positioned to thrive as an investment hub. With government policies encouraging innovation, universities setting up venture initiatives, and a growing pool of investable projects, the ecosystem is more vibrant than ever. Over 90% of Gobi’s 100 investments in the GBA are highly related to Hong Kong, either through founders or university research—a testament to the city’s potential. Moreover, new capital is flowing into Hong Kong as Mainland Chinese funds and corporate strategic investors establish local branches. This trend complements Hong Kong’s growing role as a key city for raising USD-denominated funds amidst geopolitical shifts like U.S. restrictions on investments in China’s semiconductor and AI sectors. Hong Kong’s startup ecosystem is evolving rapidly. From profound tech innovations to creative exit pathways, we are building a robust foundation for long-term growth. Let’s keep telling these good stories—because there’s so much more to share! The original article link is in the comment box. 📮 Christopher Lai Gobi Partners GBA Gobi Partners Thomas G. Tsao Chibo Tang Catherine Shu Hazel Wong #VC #venturecapital

245

12 Comments

My latest Sing Tao Daily column article on the “new normal” of the property market in the “post-spicy measures era”. #SingTao #propertymarket #newnormal #postspicymeasures #後辣招時代的樓市生態

45

2 Comments

The CLOB saga of 1988 taught Singaporeans the important distinction between speculating and investing. For the 172,000 CLOB investors, most were trading based on recommendations heard through coffeeshop talk, with no real understanding of fundamentals or strategies. When trading was abruptly shut down on CLOB, it resulted in a painful and drawn-out fight for Singaporeans to get their money back. But the episode also marked the rise of Securities Investors​ Association (Singapore), which made upholding and protecting the rights of small investors its business. How did a lawyer who had never stepped foot in the world of finance become the voice of minority investors? Find out in Boardroom Knockout 🥊 Get your copy here: https://lnkd.in/gxtgXFkR #brko #boardroom #knockout #investors #shareholder #minority #watchdog

14

[ON.CC | Value Partners: Gold price approaches $2,470, setting an all-time high (ATH); analyst suggests further upside potential] Rising expectations of a September Fed rate cut, coupled with the recent attack on U.S. presidential candidate Donald Trump, have led to New York gold futures and spot gold reaching new historical highs. Alex Chiu, Senior Strategist of ETF Business at Value Partners, maintains a positive outlook for gold in the latter half of 2024, citing ongoing geopolitical uncertainties and increasing central bank demand as the main drivers of gold prices. Read the full article now (Chinese only): https://lnkd.in/guVX4VUk Follow us on LinkedIn to access our latest news and investment insights. 🔎 Facebook: bit.ly/3mjfFLB  🔎 YouTube: bit.ly/valuepartners4236 🔎 Subscribe to our e-newsletter: bit.ly/3AGDDI6 #valuepartners #mutualfunds #investments #assetmanagement #goldetf #gold Investment involves risk. The above information is for reference only. It does not constitute an offer or an invitation to subscribe any securities, or a recommendation in relation to any securities. 

7

HKEX to Digitalise ETP Servicing Capabilities with Online Platform Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Tuesday) plans to digitise and automate the in-kind creation and redemption process for relevant exchange-traded products (ETP) in 2025 through the adoption of a web-based platform, subject to technical readiness and regulatory approval. This platform will be integrated into the ETP creation and redemption process, connecting key ETP participants with the use of Distributed Ledger Technology (DLT) and smart contracts, and will help increase overall ETP market efficiency, supporting the continued growth of secondary market activity for ETPs. This latest enhancement is part of the Group's ongoing commitment to further elevate the attractiveness and competitiveness of its international ETP ecosystem, replacing several manual, paper-based processes currently present with a goal to simplify the creation and redemption procedures of ETPs and boost market activity. #ETF #StockConnect #HKEX #HongKong #ETP

1

"We anticipate that in 2024, with rapid revenue growth and a stable cost base, the combined losses of Hong Kong's virtual banks will further narrow down to HK$2 billion or less, and operating expenses may drop below HK$3.2 billion," Francis Chan, Senior Asia Financial Analyst at Bloomberg Intelligence, told our reporter. From March to May in 2019, the Hong Kong Monetary Authority issued a total of eight virtual banking licenses to livi bank, ZA Bank, Mox Bank, WeLab Bank, Ant Bank (Hong Kong), PAObank (formerly Ping An OneConnect Bank), Airstar Bank, and Fusion Bank in three rounds. These virtual banks gradually commenced operations in 2020, but none have achieved profitability to date. On August 6 this year, the Hong Kong Monetary Authority (HKMA) released the Report on the Review of Virtual Banks, stating that the virtual banks had met the three initial policy objectives. The Authority also decided not to introduce new virtual banking participants at this stage to ensure the healthy development of the market and industry. Simon Shum, 毕马威中国's Financial Services Partner, remarked that staffing costs and IT system expenditures are currently the primary expenses for virtual banks. "Virtual banks have only been operating in Hong Kong for four years, and they are actively broadening their product range to increase revenue. In 2023, the ratio of non-interest income to interest income for virtual banks stood at 1:5.9, still considerably lower than the 1:1.6 ratio observed in traditional banks," Shum added. Livio Weng, Chief Operating Officer of HashKey Group, noted that all virtual banks have yet to roll out the virtual asset trading services, as they are still awaiting approval from the Hong Kong Monetary Authority. In addition to offering virtual asset ETF trading, these banks aims to broaden their cryptocurrency product offerings.They plan to partner with virtual asset exchanges, allowing users to directly buy and trade crypto assets. Read: https://lnkd.in/gvr97iRp

1

In a recent analysis, JP Morgan highlights a paradox in Korea's capital market: despite significant growth in foreign investments, the market remains undervalued compared to its global peers. This discrepancy raises questions about underlying factors in valuation and investor confidence, even as international interest grows. With rising global awareness of Korean stocks, could a shift in market valuation be on the horizon? Do you think Korea's capital market will soon see a revaluation? Let us know your thoughts in the comments!

2