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A Leader of Value Investing in Asia A Leader of Value Investing in Asia Value Partners is a leading Why Value Partners? Experienced and stable team We have one of the largest asset management Pioneer value investor in Asia on-the-ground investment teams We were one of the first fund with around 40 professionals firm in Asia. Since its managers in Asia to apply strict conducting in-depth company value investing principles in the early research and analysis. Many of establishment in 1993, 90s, and started investing in the them have been working together and under the leadership China domestic market when it had for more than 10 years. just begun to open up. of its Chairman and co-CIO Strong operational support and Greater China expertise stringent risk management Mr. Cheah Cheng Hye, the We are Greater China specialists Our clients are supported by a with extensive investment experience strong business operation team of company has successfully and in-depth local knowledge. over 100 professionals as well as As part of our research process, solid risk management systems. developed from a start-up our team conducted a large number boutique into one of of company visits every year. Asia’s most respected Proven track record and investment process asset managers. Over the years, we have delivered robust risk-adjusted absolute returns while maintaining low volatility throughout different market cycles. “Our employees pledge to put clients’ interest first and put our pride, not our ego, into our work.” Our product suite Value Partners offers a wide spectrum of investment solutions, ranging from actively managed products to passively traded index funds. We also provide managed accounts and customized solutions to suit the specific objectives and requirements of our clients. Value investing forms the backbone of our suites of products. The following diagram illustrates some investment themes of the Value Partners product range*: Absolute Return Long-biased Funds Fixed Income and Alternative Investment Funds • Asia with Greater China focus • Asian and Greater China fixed income strategy • Asia focusing on high dividend stocks • Long/short equities strategy • China investment strategies focusing on A, B & H shares • Pure China focusing on A shares • Small and mid cap stocks related to Greater China • Taiwan focus * Some products may not be available to all investors. Please contact us for details and read the corresponding offering documents before making any investment decision. Investment philosophy Value investing is the cornerstone of our investment philosophy. We believe bottom-up approach and extensive research are key to identifying undervalued, little-known opportunities in an inefficient market. Our success is underpinned by three key factors: Investing in business, Taking a prudent and Going against 1 not stocks 2 consistent approach 3 the flow We invest in real business based on We aim to minimize investment risk Our fund managers believe in our ‘3Rs’ principle: Right business, by avoiding market fads and making taking contrarian approach by going Right people and Right price. investments with a high margin against the flow of the market and Our investment team aims to gain of safety. We adopt a consistent investing in little-known stocks and in-depth first-hand knowledge of team-based approach by applying out-of-favor business sectors. the companies we invest in through the ‘seven skills’ – origination, site visits, and meetings with research, decision-making, deal- management, customers, suppliers structuring, execution, maintenance and other stakeholders. and exit. This has helped us deliver strong risk-adjusted performance in different market conditions. History 1993 2004 2007 2009 2011 2012 2013 Value Launched Value Set up Acquired Acquired Set up office Partners its first Partners investment 55% stake 49% stake in Beijing Limited alternative Group research of KBC of KBC established investment Limited office in Concord in Goldstate in Launched its fund listed on the Shanghai Taiwan Shanghai first A-share Launched Stock product its first Exchange Launched its Launched its investment of Hong Kong first Asian first UCITS- fund credit fund compliant fund in Europe Awards Commitment to Hong Kong Value Partners is highly recognized in the industry fund management industry globally and in Asia for its stellar performance and quality of management. As one of the largest home-grown fund management firms in Hong Kong, Value Partners has played a significant 2013 Top 100 Hedge Fund role in nurturing young talents in the industry. In 2010, Asia’s largest hedge fund manager, Mr. Cheah Cheng-hye was the first Asian to have delivered nd and 62 Worldwide a keynote speech at the Annual Graham & Dodd2 Breakfast Institutional Investor’s Alpha Magazine, Seminar at the Columbia Business School, the birthplace of May 2013 value investing. Soon after his return, in 2011, this mission Best Equity Group – 3 Years was taken to the next level through the establishment of for two consecutive years the Value Partners Center for Investing jointly with the Lipper Fund Awards (Hong Kong) Business School of the Hong Kong University of Science 1 2011 and 2012 and Technology (‘HKUST’), a top ranked international CIO of the Year in Asia research university. This is the first academic center of Co-Winner: Cheah Cheng Hye and its kind in Hong Kong to support research and training on Louis So investment management through a wide range of activities. Asia Asset Management, 2011 It provides practical investment experience to students through seminars, internships and a student-managed fund. Number 1 for three consecutive years in Asia Hedge Fund 25 Institutional Investor, 2010 – 2012 Management Firm of the Year AsiaHedge, 2010 Contact us 1 Based on the returns as at year end 2010 and 2011 respectively. 2 Graham & Dodd: The US economist Benjamin Graham is considered the Tel (852) 2880 9263 Email [email protected] first proponent of value investing. The approach was subsequently refined in the book Security Analysis with David Dodd, a close colleague of him at www.valuepartners.com.hk the Columbia Business School. Graham’s disciples include the legendary investor, Warren Buffett..
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