Value Investing in Asia

An Interview with Wong Seak Eng, Kevin Tok and Eric Kong of Aggregate Asset Management

Value investing is simple to understand, but very hard to implement

— Aggregate Asset Management

In early 2015, we were able to get the opportunity to meet with the team behind Aggregate Asset Management. Aggregate Asset Management is a fund management company based in Singapore. The firm started its flagship fund – the Aggregate Value Fund – in December 2012.

Aggregate Asset Management was co-founded in 2012 by three passionate value investors, Wong Seak Eng, Kevin Tok and Eric Kong. Before co-founding Aggregate Asset Management, Wong Seak Eng had a wide range of experience in the audit, corporate finance and fund management industry. Kevin Tok had strong experience in the sales and marketing of financial services as he worked in insurance companies such as AIA Group and Manulife. Eric Kong worked with financial firms like Citibank and United Overseas Bank and was also a partner with a boutique investment firm before co-founding Aggregate Asset Management.

Aggregate Asset Management prides itself as being the only fund management company in Singapore that does not require its clients to pay a fixed management fee. Instead, the company prefers to charge a performance fee on returns, ensuring that its interests are aligned with its investors.

Aggregate Asset Management aims to achieve a net return of 10% a year over the long term for their clients. And by “long term”, the company means ...