Tan Chong Koay back at helm of Pheim

Dr Tan, 65, was barred from fund management activity because he breached the Securities and Futures Act in 2004.
Dr Tan, 65, was barred from fund management activity because he breached the Securities and Futures Act in 2004.

Veteran fund manager Tan Chong Koay has been given the all clear by the authorities to resume his duties as chief executive officer and executive director of Pheim Asset Management (Asia).

The Straits Times reported last month that Dr Tan, 65, has been waiting to re-start his career here since emerging from a prohibition order last November that stemmed from a breach of the Securities and Futures Act (SFA) in 2004.

Dr Tan, who is well known as one of Singapore's pioneering boutique fund managers, founded Pheim Asset Management (Asia) in Singapore and is the founder and chief executive of Pheim Asset Management (Malaysia).

The prohibition order that barred him from carrying out fund management activity in Singapore and from involvement in running a fund management business here expired on Nov 29.

He said yesterday: "I am thankful that MAS has given me a chance to build our business. I believe Pheim's investment philosophy of not fully investing at all times will add value to the volatile equity investment industry in Asia and inspire others... to overcome the challenges of investing."

His funds are known to have consistently outperformed both relevant benchmark indices and his competitors.

With a cumulative return of 497.37 per cent (in US dollar term) over a 20-year period ending Feb 3 this year, his Pheim Asean Fund took top position for all the one-to-20-year periods among all equity Asean funds in the Lipper Global classification.

Pheim Asset Management (Asia) manages between $80 million and $90 million in funds, while the Malaysian unit has a fund size of about RM1 billion (S$326 million).

The prohibition order resulted from a contravention of the SFA for window dressing shares of Singapore-listed wastewater firm United Envirotech from Dec 29 to 31 in 2004.

Dr Tan recently published a book, Rising Above Financial Storms, that outlines his investment philosophy. All proceeds go to charity.

A version of this article appeared in the print edition of The Straits Times on November 03, 2015, with the headline 'Tan Chong Koay back at helm of Pheim'. Print Edition | Subscribe