Avanda eyes 15% returns with new Singapore Discovery Fund under EQDP
The fund is built around three core investment themes: Value-Up, Local Champions and Turnaround
[SINGAPORE] Local fund manager Avanda Investment Management is targeting an absolute return of up to 15 per cent for its newly launched Avanda Singapore Discovery Fund over the next three to five years.
The fund, which comes under the S$5 billion Equity Market Development Programme (EQDP), began operations on Oct 1 and will be overseen by partner and head of equities Richard Chan alongside portfolio manager Sherman Lim.
Chan had previously led the Asia-Pacific equities team at GIC from 2008 to 2015 while Lim was an investment analyst at Newlands Investments Management before joining Avanda in 2002. Avanda is co-founded by former GIC chief investment officer and presidential hopeful Ng Kok Song.
