Singapore Fund Eyes Equity Debut

  • 03 Feb 2003
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Singapore-based APS Asset Management, with over USD850 million under management, is preparing to use equity derivatives in the coming months for a USD10 million hedge fund it launched last year. "This is an effective way to leverage our positions," said Wong Kok Hoi, cio and founder. It has considered since its inception last year using products such as equity options in Taiwan and Korea to create synthetic short positions because offshore borrowing is restricted (DW, 4/14). It is preparing to pull the trigger after being advised by its prime broker Goldman Sachs Global Securities Services to look at the instruments. The long/short fund primarily invests in cash equities in Asian markets including Japan, Hong Kong and Singapore. Wong noted that the notional size of OTC derivatives positions could total 10% of the portfolio this year.

Wong is heading to Europe and the U.S. next month to raise additional capital for the APS Asia Pacific Hedge Fund, for which the firm hopes to raise USD100 million by year-end.

Sam Stubbs, executive director at Goldman in Hong Kong, said, "These products allow you to effectively get access to leveraged positions in such markets as Korea and Taiwan."

  • 03 Feb 2003

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 315,565.94 1183 8.89%
2 JPMorgan 288,650.70 1316 8.13%
3 Bank of America Merrill Lynch 284,218.69 988 8.01%
4 Goldman Sachs 215,758.12 710 6.08%
5 Barclays 207,555.74 805 5.85%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 32,400.29 147 6.76%
2 Deutsche Bank 32,042.83 103 6.69%
3 Bank of America Merrill Lynch 28,820.43 84 6.02%
4 BNP Paribas 25,608.74 143 5.35%
5 Credit Agricole CIB 22,617.86 130 4.72%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 18,067.92 70 9.12%
2 Morgan Stanley 15,215.44 76 7.68%
3 UBS 14,195.29 55 7.17%
4 Citi 14,014.57 86 7.07%
5 Goldman Sachs 12,113.98 67 6.11%