SINGAPORE - Academic and former diplomat Kishore Mahbubani has gone from client to chairman and director at Aggregate Asset Management (AAM), the boutique fund manager announced on Monday (Sept 25).

The five-year-old AAM made a splash in the wealth management scene by being the first fund house here to charge only a performance fee and not a management fee.

Prof Mahbubani was appointed with effect from Monday (Sept 25) as non-executive chairman and non-executive director.

"I believe in the management team's capabilities and the long-term performance prospects of the fund, investing in the untapped opportunities across Asia's high-growth emerging markets," said the dean of the National University of Singapore's Lee Kuan Yew School of Public Policy.

A President's Scholar with a background in philosophy, Prof Mahbubani also sits on the boards of Zurich Insurance Group and Wilmar International, among others.

AAM's flagship fund has S$450 million under management, with a net 11.31 per cent average in annualised total returns.