DBS manager to set up own bond fund

DBS Asset Management is losing a star fund manager. Lim Heong-Chye, managing director, will leave the firm in mid-August, along with portfolio managers Chan Cheh-Shin and Lucas Yeoh. Sources believe he intends to set up his own fixed-income asset management company. Lim is best known in Singapore for managing the Shenton Income Fund, taking its assets under management from around S$100 million ($59.23 million) upon joining the firm in 2001 to S$1.2 billion today, making it the larg…