The hedge fund powerhouse Timefolio Asset Management's Singapore entity is reported to be close to 1 trillion won in assets under management. It is the first time a domestic asset management company has attracted nearly 1 trillion won in funds in Singapore, which is known as an Asian financial hub. CEO Hwang Seong-hwan has worked hard to penetrate the local market, even sending company ace to the Singapore entity, and there are evaluations that these efforts are bearing fruit.
According to the financial investment industry on the 18th, Timefolio Asset Management's Singapore entity reported that its fund's net worth (AUM) has doubled to 600 billion won from 310 billion won at the beginning of last year. The total assets under management, combining both the funds and separate managed accounts (SMA), amount to 920 billion won. A Timefolio official noted, "It is highly likely that the Singapore entity's assets under management will surpass 1 trillion won during the first half of the year."
Although several domestic management companies have entered Singapore, not many have obtained local licenses to actually conduct asset management services. In particular, Timefolio is currently the only management company that has achieved meaningful results by attracting local funds. Internally, there is a sentiment that achieving 1 trillion won in assets under management at the Singapore entity is significant, as it is evaluated to have the minimum scale to attract foreign large funds.
Timefolio Asset Management established its Singapore entity in 2018 with the aim of strengthening overseas investments. Lee Jae-in, who comes from JP Morgan, leads the Singapore office. The fund managed by the Singapore entity has recorded a cumulative return of 80.3% since its establishment in April 2019.
Hwang Seong-hwan, the CEO of Timefolio, decided to send his right-hand man, Ham Byeong-hyeon, the Deputy Minister of Equity Management, to the Singapore entity to strengthen its capabilities. Since Ham has contributed to the entire process of Timefolio gaining its current prominence as an "ace manager" since the early days of its establishment, his move to Singapore became a topic of discussion in the industry.
Timefolio's Singapore entity is reported to have successfully attracted large institutional funds from Europe and the Americas last year. Timefolio stated, "Due to the terms of the contract, we cannot disclose information about the beneficiaries, but we are smoothly attracting funds from various institutions."