Forsyth Partners, a billion dollar fund of fund and research firm headquartered in London, has hired Chi Hao Lee to head up its sales effort in Hong Kong and Singapore. Lee previously co-founded and co-managed the Asian hedge fund desk at DBS Vickers. Prior to that he spent five years as an analyst with Daiwa and later CLSA.
"It is a powerful combination of strong background in research plus his expertise in hedge funds that makes Chi a perfect for Forsyth Partners," says Guy Medcraft, the Hong Kong-based regional sales director. "Chi understands the benefits an independent research driven approach brings to investors and he will significantly enhance Forsyth Partners' expansion in the Asian region."
Medcraft says that Lee will focus on marketing Forsyth's products to private banks, family offices and high net-worth investors in the region.
"As we've hit over a billion dollars in assets under management, we are on the approved list of many of the large institutional funds. Now are focusing on getting them familiar with our products," explains Medcraft.
Forsyth's marketing efforts in Asia have so far yielded solid results. Some 25% of the firms asset inflow in the first six months of 2005 has come from Asian investors.
In Korea, Forsyth recently hired David Kim to lead marketing and sales.
"This investment has already paid off within the first six months," says Medcraft noting that Forsyth has recently received a large investment from a Korean pension fund.
Next on expansion agenda is Taiwan. The group is in the process of setting up a representative office in Taiwan, and has hired a local Taiwanese team member to set up the operations. "He is very familiar with the Taiwanese market, and also has relationships in China and can explore opportunities for Forsyth in that market," he comments.
Medcraft says Japan is also a major focus. He notes that one of Forsyth's most popular products is its yen denominated share class.
"This has been running for two years now, and there are not that many firms that have a track record like ours."