External Fund Manager
Pheim Asset Management Sdn Bhd (“PAMSB”)
The investment management, compliance and risk management functions of the Manager have been delegated to PAMSB, the holding company of the Manager. As PAMSB is a holder of the Capital Markets Services Licence, the approval of the SC is not required for the delegation.
PAMSB commenced its operations on 4 January 1994. PAMSB is part of an established fund management group in Malaysia and Singapore. Founded by Dr Tan Chong Koay, the Pheim Asset Management Group (“Pheim Group”) currently comprises 3 offices, namely PAMSB, Pheim Asset Management (Asia) Pte Ltd and PUTB. The Pheim Group specializes in investing in the equity markets of Malaysia, ASEAN and Asia ex-Japan.
As a delegate of the Manager, PAMSB implements the investment strategies determined by the investment committee and manages the Funds on behalf of the Manager. PAMSB also performs the compliance and risk management functions on behalf of the Manager.
PAMSB has discretionary authority over the investments of the Funds subject to the Guidelines and regulations issued by the relevant authorities, i.e. the SC and Bank Negara Malaysia.
PAMSB reports to the investment committee of the Funds on a monthly basis on the status of the Funds, proposes investment strategies and discusses matters relating to the Funds. Apart from the monthly meetings, the investment committee will meet with PAMSB more frequently should circumstances require.
The remuneration of PAMSB is borne by the Manager.
As at 31 December 2017, the total staff strength of PAMSB is fifteen (15). The total value of the assets under management is RM855.15 million.
Designated Fund Manager of the Funds
Mr Leong Hoe Kit (Chief Executive Officer/ Chief Investment Officer) – Mr Leong has more than 20 years of work experience relating to financial services and capital markets, including active involvement in investment activities.
The early years of his career was spent in Price Waterhouse (now known as PwC) where he was a pioneering member of the Financial Services Industry Practice group, a specialist team involved in providing auditing and business advisory services to clients in industries like stockbroking, funds management, unit trusts, futures broking, commercial banks and merchant banks. After five (5) years building his foundation in Price Waterhouse, Mr Leong joined HLG Capital (now known as Hong Leong Capital), an investment banking and capital markets services provider, where he sharpened his skills and served for nine (9) years, and last held the position of Group Financial Controller. Subsequently, he joined CLSA Securities Malaysia, where he helped set up their Kuala Lumpur operations office, and served as Executive Director of Operations for seven (7) years. After leaving CLSA, Mr Leong had a short sojourn in corporate finance in the non-financial services sector before he returned to the financial services industry when he joined Pheim Asset Management as Chief Executive Officer.
Mr Leong is a Chartered Accountant registered with the Malaysian Institute of Accountants and a member of CPA Australia. He is also a holder of a Capital Markets Services Representative’s Licence for Fund Management in relation to Portfolio Management issued by the Securities Commission.
Mr Lee Ta Wei (Fund Manager/ Investment Analyst) – Mr Lee joined Pheim Asset Management Sdn Bhd in 2015. Together with his experience in PAMSB and prior to joining PAMSB, he has more than 10 years of investment-related exposure, including being a Unit Trust Consultant registered with Federation of Investment Managers Malaysia (FIMM) from 2008 to 2015.
Mr Lee is a bachelor degree holder with a Dean’s Award in Mechanical Engineering major in Material from University of Technology Malaysia. He began his career at Sony EMCS (Malaysia) Sdn Bhd as a Senior Design Engineer for 6 years, overseeing the product design, mass production and quality assurance. Prior to joining PAMSB, he was a Senior Analyst in the Malaysian Office of a foreign owned valuation firm for more than 3 years during which he was responsible for the valuation of target companies listed in Bursa Malaysia. The business valuation encompasses due diligence, financial analysis and financial modelling on the target companies.
Mr Lee is a Chartered Financial Analyst (CFA) holder since 2017.
Ms Mutiara Zulkifli (Fund Manager/ Investment Analyst) – Mutiara has more than 3 years of experience in the investment industry. Prior to joining PAMSB, she was attached to an investment team of another asset management company, and was responsible for advisory account which mainly invests in the Asean markets. The account has consistently outperformed its benchmark index during her tenure. She holds a Bachelor of Business Management with Honours (Finance) degree from the Universiti Teknologi MARA.