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Derivatives

Singapore Fund Considers ELNs

Singapore-based asset manager Kenrich Partners is considering buying its first equity-linked note. Richard Loh, managing director at Kenrich, said the firm is looking into using the structured products but added that no time frame has been established. "We're still in discovery, no conclusions have been made yet," added Loh. Kenrich would first establish criteria to follow, and then make its decision on whether to invest in the product, said Loh, declining to elaborate.

Kenrich Partners, which primarily invests in Asian equities, has used listed warrants on Asian names in the past. He declined to detail the size of assets under management or elaborate on why it is considering buying the notes at this time. Kenrich Partners' prime broker is Morgan Stanley. An equity derivatives marketer at Morgan Stanley declined all comment.

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