Overview
                                    
                                    
                                        
                                            A. Company Profile 
Founded in 1995, APS Asset Management Pte Ltd (“APS”) is a Singapore-based fund management firm. 
The principal activities of APS are to provide fund management specializing in equity investments with 
a focus on China.  
Wong Kok Hoi, Founder and Chief Investment Officer of APS and his team of senior professionals are 
experienced  in  investing  predominantly  in  Greater  China.  The  firm  operates  out  of  Singapore, 
Shanghai, Shenzhen and Beijing.  
APS is a holder of Capital Market Services licence issued by the Monetary Authority of Singapore to 
conduct fund management activities and registered as an investment adviser by the U.S. Securities 
and Exchange Commission. APS is also registered with the Ontario Securities Commission as an advisor 
in the category of Portfolio Manager and has also been registered as a Portfolio Manager under MI 
11-102 Passport System in British Columbia and Quebec. We aim to provide high quality value-added 
portfolio management services to investors. Our clients are mainly institutions that include pensions, 
endowments  and  foundations  as  well  as  financial  intermediaries  including  fund  of  funds,  private 
wealth management and family offices based in North America, Europe and Asia Pacific.  
APS  is  a  fully  independent  and  employee-owned  fund  management  firm  offering  investment 
management  services  to  qualified  investors  in  Asia,  North  America  and  Europe.  The  largest 
shareholder is Mr. Wong Kok Hoi, Founder and CIO. The remaining shareholders are employees and 
ex-employee of the firm.  
APS currently has one subsidiary company under the group. APS China Asset Management Co., Ltd 
(“APS China”) provides asset management and research services. The main office is in Shanghai with 
2 other offices in Shenzhen and Beijing. APS China was granted a Private Securities Investment Fund 
Manager license from the Asset Management Association of China in July 2018. The license allows the 
company to develop investment products for institutional and high net worth investors in China. 
The APS group structure as at
                                        
                                        
                                             21 March 2024 is shown below:  
100% 
APS Asset Management Pte Ltd 
APS China Asset Management Co., Ltd 
The ultimate holding company of APS group is Asian Portfolio Specialists Pte Ltd, a company registered 
in Singapore. It owns 86% of APS. The principal owner who owns more than 25% of APS is Mr. Wong 
Kok Hoi. He owns 89% of APS directly and indirectly through his holdings in Asian Portfolio Specialists 
Pte Ltd. 
B. Services Provided 
APS provides fund management and investment research as ancillary services to fund management. 
It also performs other supporting functions such as trading, compliance, risk management, marketing, 
client  servicing  and  all  operational  back-office  support  to  its  subsidiary.  It  specializes  in  managing 
portfolios invested mainly in equities with a focus on China.  
The total discretionary asset under management is US$1.48 billion as of 31 December 2023. 
The total non discretionary asset under management is US$63.91 million as of 31 December 2023.  
The investor segmentation as of 31 December 2023 is:  
Mutual Funds: 29%   
Managed accounts: 71%   
As at 31 December 2023, APS managed a total of 4 mutual funds for high net worth individuals and 
institutional investors. They were: 
APS All China Long Short Fund: US$197.68m  
APS China A Share (Cayman) Fund: US$93.25m 
APS Fund SICAV – APS All China Alpha Fund : US$48.10m 
APS All China Alpha Fund: US$108.95m 
APS  may  enter  into  “side  letter”  agreements  or  other  similar  arrangements  where  one  or  more 
investors  in  the  funds  retain  additional  and/or  different  rights  (including,  for  example,  fee 
arrangements) than other investors.  APS will not enter into a “side letter” with any investor that 
provides  certain  investors  with  preferential  redemption  rights  or  liquidity  preferences  that  can 
potentially create conflicts among investors in the funds. 
Clients  may  impose  restrictions  on  investing  in  certain  securities  or  types  of  securities  by  signing 
investment management agreements with APS. 
APS does not participate in wrap fee programs.