A Singapore-based boutique fund manager, Heritage Capital Management, has hired two fund managers who had lost their jobs when their employer, American Express Asset Management, relocated investment management out of Asia earlier this year.

Heritage is a long-only Asian equities specialist with $30 million of assets under management. Its founder, Chan Wing-Cheng, bolstered his firm's team to help grow the business and attract more assets, with a view that Asian equities will become an increasingly attractive asset class for global investors.

The two hires, Tan Poh-Hong and Lim Ser-Mui, both managed regional portfolios for AmEx in Singapore. AmEx relocated its investment management capability from Hong Kong and Singapore to London, where it recently acquired UK fund house Threadneedle. Both Tan and Lim will divide up Asian country portfolios and work with Chan, who has run the business solo since founding it in 1997. Prior to that he ran Singapore sales, research and operations at WI Carr. Christina Leong Shau-Ling handles Heritage's marketing.